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Updated: September 2007
| Author: | Jagdish N. Bhagwati, Senior Fellow for International Economics |
|---|
This module features teaching notes by CFR senior fellow Jagdish N. Bhagwati, author of In Defense of Globalization, along with other resources to supplement the text. In this new edition of his popular book, Bhagwati argues that, when properly regulated, globalization can be the most powerful force for social good in the world today.
What is a CFR Academic Module?
Academic Modules—featuring teaching notes by the authors of CFR publications—are designed to assist educators in creating or supplementing a course syllabus. The modules are customized packages built around a primary CFR text, such as a book or report, and include teaching notes; additional readings; video, audio, and transcripts of CFR meetings; Foreign Affairs articles; and other online resources. Use of these modules is free of charge. They may be used in part or in their entirety.
March 2004 (New edition: July 2007)
An internationally renowned economist, Jagdish Bhagwati takes conventional wisdom—that globalization is the cause of several social ills—and turns it on its head. Properly regulated, globalization, he says, is the most powerful force for social good in the world.
Succinct introductions to current political and economic issues.
June 25, 2007
The looming expiration of U.S. fast-track trade promotion authority could trip up momentum toward trade liberalization, but experts say it won’t necessarily be a step backwards.
June 1, 2007
The World Bank, flagship of the world’s international development funds, faces questions about its relevance as a scandal topples its president and a series of smaller challengers sap its authority.
Updated: February 22, 2008
A profile of the Doha round of World Trade Organization multilateral trade talks.
Updated: March 27, 2009
After over three decades of existence, the Group of Eight (G8) is struggling to defend its relevance amid criticism of its limited membership and lack of a compliance mechanism.
February 22, 2006
Assessing the SEC's changing role in a world where corporations increasingly operate across-borders and globally.
September 2007
Council Special Report No. 30
A flexible labor market and an open economy are crucial to economic competitiveness, but can sometimes cause prime-aged and older workers to suffer large, long-term income losses. This report explains why existing government programs, which emphasize retraining and insurance for short-term job loss, don't assuage workers' fears about globalization. It also proposes a shift of resources from existing programs to wage insurance.
April 2005
Edited by former Council Senior Fellow and former Maurice R. Greenberg Geoeconomics Center Director Michael Weinstein, and with original contributions from ten eminent economists, Globalization: What's New? cuts through the confusion and rhetoric surrounding globalization to offer straightforward, incisive analyses of the subject and its future.
October 2004
Drawing on some 200 interviews, including twenty hours of discussions with World Bank President James Wolfensohn, Washington Post editorial columnist and Director of the Council’s Center for Geoeconomic Studies Sebastian Mallaby takes readers inside the world’s premier development institution.
November 2003
In Free Trade Today, Dr. Bhagwati applies critical insights from revolutionary developments in commercial policy theory to show how the pursuit of social and environmental agendas can be creatively reconciled with the pursuit of free trade.
May/June 2007
Summary
Global financial instability has sparked a surge in "monetary nationalism" -- the idea that countries must make and control their own currencies. But globalization and monetary nationalism are a dangerous combination, a cause of financial crises and geopolitical tension. The world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn.
January/February 2007
Summary
Not long ago, the expansion of free trade worldwide seemed inevitable. Over the last few years, however, economic barriers have started to rise once more. The forecast for the future looks mixed: some integration will probably continue even as a new economic nationalism takes hold. Managing this new, muddled world will take deft handling, in Washington, Brussels, and Beijing.
February 9, 2007
CFR's Jagdish Bhagwati says U.S. must alter its approach to developing nations.
October 2, 2006
The Doha trade round is deadlocked, essentially over U.S. and EU farm sector protections. Chief U.S. agriculture negotiator Richard T. Crowder says intense discussions continue, but he stressed EU market access must improve for a deal to be reached.
Updated: July 27, 2007
Simon Cox of the Economist and Jake Colvin of the National Foreign Trade Council debate the merits and drawbacks of economic sanctions.
Updated: June 15, 2007
Charles Kernaghan of the National Labor Committee and Claude Barfield of the American Enterprise Institute debate the merits of labor standards in trade pacts.
May 17, 2006
April 2005
Author: A.T. Kearney and Foreign Policy Magazine
October 22, 2004
Author: Paul Krugman, Robin Wells
February 19, 2003
Author: N. Gregory Mankiw
May 2005
The Millennium Development Goals Report
Author: United Nations
U.S. Trade Policy at a Crossroads: What the People Really Want
| Speakers: | Edward Alden, Bernard L. Schwartz Senior Fellow, Council on Foreign Relations |
|---|---|
| Bruce Stokes, International Economics Columnist, "National Journal"; Journalism Fellow, The German Marshall Fund | |
| Presider: | Nancy E. Roman, Vice President and Director, Washington Program, Council on Foreign Relations |
As the Doha round languishes, and free trade agreements with Peru, Columbia, Panama and South Korea wait in the wings, Congress is grappling with how to approach U.S. trade policy. We work and live in a global economy built on freer trade, yet there's a growing angst associated with globalization that has given rise to a populist trend toward protectionism. Join acclaimed trade reporter Bruce Stokes, of the National Journal, CFR’s Ted Alden, formerly of the Financial Times, and Council Vice President Nancy Roman for a discussion on U.S. trade policy in the balance.
Transcript: U.S. Trade Policy at a Crossroads: What the People Really Want
Audio: U.S. Trade Policy at a Crossroads: What the People Really Want (Audio)
This meeting is on the record.
World Economic Update Special Edition: The Great Globalization Debate
| Speakers: | Alan B. Krueger, Bendheim Professor of Economics and Public Policy, Woodrow Wilson School of Public and International Affairs, Princeton University |
|---|---|
| Stephen S. Roach, Chief Economist and Managing Director, Morgan Stanley | |
| Matthew J. Slaughter, Adjunct Senior Fellow for Business and Globalization, Council on Foreign Relations; Associate Professor of Business Administration, Tuck School of Business, Dartmouth College | |
| Presider: | Daniel K. Tarullo, Professor of Law, Georgetown University Law Center |
7:45 – 8:00 a.m. Breakfast
8:00 – 9:15 a.m. Meeting
In this Special Edition of the World Economic Update, the panel will depart from its usual agenda of assessing near-term developments and instead consider some of the broader global economic trends and longer-term prospects that are setting the terms of current policy debate, including the impact on jobs and wages, the changing role of China in the world economy, and the backlash against globalization. In addition to regular partipants Stephen Roach and Daniel Tarullo, the panel will include two distinguished academic economists with government policy experience -- Alan Krueger of Princeton and Matthew Slaughter of Dartmouth.
Transcript: World Economic Update [Rush Transcript; Federal News Service]
Audio: World Economic Update: The Great Globalization Debate (Audio)
Video: World Economic Update: The Great Globalization Debate (Video)
This meeting is on the record.
C. Peter McColough Roundtable Series on International Economics: Fear of Offshoring
Related Project: C. Peter McColough Roundtable Series on International Economics
| Presider: | Andrew D. Crockett, President, J.P. Morgan Chase International |
|---|---|
| Speaker: | Alan S. Blinder, G. S. Rentschler Memorial Professor of Economics, Department of Economics, Princeton University |
The C. Peter McColough Roundtable Series on International Economics is presented by the Corporate Program and the Maurice R. Greenberg Center for Geoeconomic Studies.
7:45 am Breakfast
Transcript: Fear of Offshoring [Rush Transcript; Federal News Service, Inc.]
Audio: Fear of Offshoring (audio)
C. Peter McColough Roundtable Series on International Economics: A Progressive Case for Open Markets
Related Project: C. Peter McColough Roundtable Series on International Economics
| Presider: | Robert D. Hormats, Vice Chairman, Goldman, Sachs & Company, Goldman Sachs (International) |
|---|---|
| Speaker: | Peter Mandelson, Commissioner for External Trade, European Union |
The C. Peter McColough Roundtable Series on International Economics is presented by the Corporate Program and the Maurice R. Greenberg Center for Geoeconomic Studies.
Transcript: A Progressive Case for Open Markets
Audio: A Progressive Case for Open Markets (audio)
This meeting is on the record.
Transition 2005: Latin America: CAFTA and Other Policy Challenges
| Presider: | Julia E. Sweig, Senior Fellow, Latin America Program, Council on Foreign Relations |
|---|---|
| Speakers: | Jim Kolbe, Member, U.S.House of Representative (R-AZ) |
| Sander Levin, Member, U.S. House of Representatives (D-MI) |
Transcript: Transition 2005: Latin America: CAFTA and Other Policy Challenges
Audio: Transition 2005: Latin America-CAFTA and Other Policy Challenges (audio)
The WTO after 10 Years: The Lessons Learned and the Challenges Ahead
Related Project: 2005 Corporate Conference
| Introductory Speaker: | Richard N. Haass, President, Council on Foreign Relations |
|---|---|
| Presider: | William Nuti, President and CEO, Symbol Technologies, Inc. |
| Speaker: | Supachai Panitchpakdi, Director-General, World Trade Organization |
Transcript: The WTO After 10 Years: The Lessons Learned and The Challenges Ahead
The Future of Global Trade
Related Project: 2005 Corporate Conference
| Presider: | Paul Blustein, Trade & Economics Reporter, The Washington Post |
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| Panelists: | Jagdish N. Bhagwati, Senior Fellow in International Economics, Maurice R. Greenberg Center for Geoeconomics Studies, Council on Foreign Relations |
| Pascal Lamy, President, Association Notre Europe; former Commissioner for Trade, European Commission |
Annual Corporate Conference: Thursday Panel 1
Transcript: The Future of Global Trade
U.S. Trade Priorities
Related Project: 2005 Corporate Conference
| Presider: | Lionel Barber, U.S. Managing Editor, The Financial Times |
|---|---|
| Panelists: | Charlene Barshefsky, Senior International Partner, Wilmer Cutler Pickering Hale and Dorr LLP; U.S. Trade Representative, 1997-2001 |
| Carla A. Hills, Chairman & CEO, Hills & Company; U.S. Trade Representative, 1989-1993 |
Annual Corporate Conference: Thursday Panel 2
Transcript: U.S. Priorities in Trade
America and the World Economy: A Strategy for the Next Decade
Related Project: Maurice R. Greenberg Center for Geoeconomic Studies
| Speaker: | C. Fred Bergsten, Director, Institute for International Economics; Editor, The United States and the World Economy: Foreign Economic Policy for the Next Decade |
|---|---|
| Presider: | Peter G. Peterson, Chairman, The Blackstone Group, Chairman, Council on Foreign Relations |
The speaker discussed the key foreign economic policy issues facing the United States in the second half of this decade, as well as how the administration and Congress can meet the economic challenges that lie ahead.
Transcript: America and the World Economy: A Strategy for the Next Decade
Audio: America and the World Economy: A Strategy for the Next Decade (audio)
Video: America and the World Economy: A Strategy for the Next Decade (video)
International Economics in a Second Bush Administration
| Speakers: | Jagdish N. Bhagwati, Senior Fellow for International Economics, Council on Foreign Relations |
|---|---|
| Gene B. Sperling, Senior Fellow for Economic Policy, Director of the Center for Universal Education, Council on Foreign Relations | |
| Nancy E. Roman, Vice President and Director, Washington Program, Council on Foreign Relations |
Transcript: Transition 2005: 'Briefing for Journalists on International Economics in a Second Bush Administration'
NAFTA's Legacies: What Was Accomplished, What Have We Learned, and Where Do We Go From Here?
Related Projects: Maurice R. Greenberg Center for Geoeconomic Studies, NAFTA 10 Years On
| Presider: | Richard N. Haass, President, Council on Foreign Relations |
|---|---|
| Panelists: | Carla A. Hills, Former U.S. Trade Representative; Chairman & CEO, Hills & Company |
| Jaime Serra Puche, Former Mexican Trade Minister, Founding Partner, SIA Consulting | |
| Roy MacLaren, Former Canadian Trade Minister, Director, Standard Life |
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Start-Up Nation addresses the trillion-dollar question: How is it that Israel—a country of 7.1 million, only sixty years old, surrounded by enemies— produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada, and the UK? With the insights of geopolitical experts and investors, the authors examine this nation’s adversity-driven culture to answer this question and offer prescriptions for a global economy on the rebound.
In Forces of Fortune, Vali Nasr presents a paradigm-changing revelation that will transform the understanding of the Muslim world at large. He reveals that there is a vital but unseen rising force in the Islamic world—a new business-minded middle class—that is building a vibrant new Muslim world economy and that holds the key to winning the cold war against Iran and extremists.
In Cuba: What Everyone Needs to Know, Julia E. Sweig presents a remarkably accessible portrait of Cuba's unique place on the world stage over the past fifty years, including its internal politics, its often fraught relationship with the United States, and its shifting relationship with the global community.
Complete list of CFR Books
The report of this bipartisan Task Force of distinguished leaders and experts represents a strong consensus on the importance of repairing America's immigration policy. It makes the case that maintaining America's political and economic leadership depends on attracting talented and hard-working immigrants, and on securing the country's borders in a smart, effective, and humane way.
This report finds that nuclear weapons will remain a fundamental element of U.S. national security in the near term, and makes recommendations on how to ensure the safety, security, and reliability of the U.S. deterrent nuclear force, prevent nuclear terrorism, and strengthen the nuclear nonproliferation regime.
About Independent Task Forces at CFR
Complete list of Task Force reports
Identifying international threats and acting on them may be the most difficult job for U.S. policymakers. This report
provides an actionable road map for managing international threats before they erupt into crises and makes a strong case that preventive action is not a luxury but a necessity.
For more than a decade, the United States has mostly watched from the sidelines as Asian countries organize themselves into an alphabet soup of new multilateral groups. In this report, the authors review the relationship between pan-Asian and trans-Pacific institutions and suggest policy guidelines for a new U.S. approach to this new Asian landscape.
Complete list of Council Special Reports
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