Author: Squam Lake Working Group on Financial Regulation
Information about prices and quantities of assets lies at the heart of well-functioning capital markets. In the current financial crisis, it has become clear that many important actors—both firms and regulatory agencies—have not had sufficient information. Distributed by the Center for Geoeconomic Studies, this Working Paper proposes a new regulatory regime for gathering and disseminating financial market information. The authors argue that government regulators need a new infrastructure to collect and analyze adequate information from large (systemically important) financial institutions. This new information framework would bolster the government's ability to foresee, contain, and, ideally, prevent disruptions to the overall financial services industry.
This report looks at Russia's rise as an energy power, analyzing its control of supplies and delivery systems and its investments in energy infrastructure across Europe, as well as questions about the potential of its production, recognizing that European dependence on Russian energy will be a reality well into the future and that Europe can increase its energy security only by working with--not against--Russia.
Seven years after 9/11, there is still no durable framework for effectively securing the United States against terrorism while also upholding its values. This Working Paper by Daniel B. Prieto calls on President Obama and Congress to engage these issues in a bipartisan fashion and craft comprehensive long-term counterterrorism policies that reaffirm the U.S. commitment to core values; only then will the United States be able to develop the kind of foreign policy necessary to meet the modern terrorist threat.
An Asia Society Task Force directed by Alyssa Ayres outlines a bold new strategy for the incoming U.S. administration to pursue deeper collaboration with India on global challenges ranging from security and economic growth to climate change, education, agricultural needs, and HIV/AIDS.
North Korea has long been a serious concern to Washington. Now, with President Kim Jong-Il reportedly in bad health and possibly naming a successor, the United States must consider possible outcomes should the situation deteriorate and the current North Korean government collapse. This report examines the challenges that these scenarios would pose--ranging from securing Pyongyang's nuclear arsenal to providing humanitarian assistance--in the context of the interests of the United States and others in its valuable recommendations.
Though the United States of America faces its toughest budgetary and economic challenges since the Great Depression, it cannot afford to eliminate, or even reduce, its foreign assistance spending. For clear reasons of political influence, national security, global stability, and humanitarian concern the United States must, at a minimum, stay the course in its commitments to global health and development, as well as basic humanitarian relief. In this report, Laurie A. Garrett makes recommendations for the future of foreign aid under a new presidential administration and Congress.
This report comprehensively analyzes Ukraine's difficulties, related to both domestic conditions and foreign policy, and recommends ways for the United States to encourage Ukraine on a path of stability and integration with the West.
For several years, high oil prices enabled the Gulf Cooperation Council countries to add large sums to their state coffers. Falling oil prices imply that some Gulf countries may need to draw on their depleted funds to cover their import bills. In this Center for Geoeconomic Studies Working Paper, Brad W. Setser and Rachel Ziemba examine the impact of the fall in global equities on the Gulf’s large funds and explore how various oil price scenarios could shape those funds’ future growth.
In this Center for Universal Education Working Paper, Gene B. Sperling argues that there are importantdesign elements of the existing global education architecture—the Education for All Fast Track Initiative—that reflect a promising model for a coordinated, global effort on education that should be built upon. Yet he also finds that a new Global Education Fund must employ serious reforms and have a major rebranding and relaunching moment by heads of state that mobilizes a greater global commitment to more resources and sound program implementation to make significant steps toward achieving quality universal education for the world’s poorest children.
This report lays out a thoughtful agenda for U.S. policy toward the Democratic Republic of Congo, arguing that what happens there should matter to the United States—for humanitarian reasons as well as economic and strategic ones.
Unlike during the Cold War, the threat of nuclear attack now comes from rogue states that receive their weapons from sovereign nations. In this report, Michael A. Levi outlines how to discourage those nations from giving their nuclear technologies to terrorists, how to prevent accidental transfers, and the role that nuclear attribution plays in contemporary proliferation.
In this report, Bruce W. MacDonald illuminates the strategic landscape of military space competition between the United States and China and highlights the dangers and opportunities the United States confronts in space.
The rise in China's trade surplus, the increase in oil prices, and a slowdown in demand for U.S. assets from private investors abroad has increased the United States' reliance on foreign governments for financing. This report examines whether the United States' ability to secure large quantities of external financing from foreign governments is a reflection of its political power, a constraint on its ability to exercise power, or a combination of the two.
The news that the Doha Round of the World Trade Organization has broken down in Geneva has made many Americans pessimistic about the future of multilateral trade agreements. In this Center for Geoeconomic Studies Working Paper, Douglas A. Irwin makes the case for optimism and argues that the key to advancing the free-trade cause is political leadership of the sort demonstrated by a heroic but near-forgotten figure, the late secretary of state Cordell Hull of Tennessee. Irwin traces Hull’s path through the decades and shows how his legacy lights the way for leaders of both political parties.
This report outlines the nature of the challenges in Pakistan's tribal areas, formulates strategies for addressing those challenges, and distills the strategies into realistic policy proposals worthy of consideration by the incoming administration.
The sharp run-up in food prices has triggered riots in several countries and threatened to push millions of people below the poverty line. In this Center for Geoeconomic Studies Working Paper, Karen H. Johnson explains the causes and likely future course of food-price inflation and analyzes the implications for central banks, trade negotiators, and agricultural policy.
This report analyzes the debate over U.S. use of assurances against torture, explaining the contexts in which they are used, how they can be conveyed, and what they can contain, and recommends a number of ways to respond to criticism so that the United States can continue using assurances.
In the past three years, many countries have adopted or expanded regimes to review inward foreign direct investment (FDI) for either national or economic security purposes, reducing the quantity and quality of global FDI flows. The policy recommendations in this report aim to correct this protectionist drift by proposing guidelines for how countries can better regulate FDI yet still reap its economic benefits.
In this Council Special Report, Mona Yacoubian and Scott Lasensky make a strong case that the Bush administration’s policy of diplomatic isolation of Syria is not serving U.S. interests, and offer informed history and thoughtful analysis of the country and its external behavior. This report is also available in Italian.
Against the backdrop of increasing attention to climate change in the presidential campaigns, debate of the Lieberman-Warner climate bill in the Senate, and preparations for this summer's G8 summit, this report recommends an overhaul of U.S. domestic and foreign policy to confront the challenges of climate change.