China's policy of holding down the value of its currency and monetary easing in the United States have led to large capital inflows into emerging economies. Although consensus in emerging markets has formed around capital controls, Francis E. Warnock challenges their underlying assumptions.
CFR Senior Fellow Adam Segal argues that the United States should shape rules for the virtual world through informal multilateralism rather than formal negotiations, reaching out to allies and other powers, as well as private corporations and nongovernmental organizations.
Many low-paying jobs have moved from the United States to rapidly growing markets abroad, and higher-paying jobs may soon follow. While Americans benefit from cheaper goods, employment opportunities have diminished. Policymakers should address this trade-off as a first step toward tackling questions of inequality and economic distribution.
High and volatile energy prices have driven the regulation of commodity financial markets to the forefront of the U.S. and G20 policy agendas. Integrated commodity markets require international policy coordination, but not all domestic and international policy initiatives are equally desirable.
Kay King offers recommendations to reset congressional rules, practices, and procedures to address today's dysfunctional Congress and restore it as a full partner to the executive branch in advancing U.S. national security interests.
This Independent Task Force report assesses U.S. objectives, strategy, and policy options in Pakistan and Afghanistan. It supports a long-term partnership with Pakistan, calls for a new approach to Afghan political reform, reconciliation, and regional diplomacy, and says that a more limited U.S. mission in Afghanistan would be warranted if the present strategy does not show signs of progress. This report is also available in Italian.
This study examines low-carbon technology innovation and absorption in China, India, and Brazil. It recommends a course for U.S. policy that promotes accelerated innovation and adoption of new technologies while protecting U.S. commercial interests.
This second installment of the Capital Flows Quarterly series investigates two factors that could substantially alter the long-run value of the U.S. dollar: the dollar's reserve status and the sustainability of U.S. international debt.
This essay assesses the need for deeper integration in the European Union, while questioning where the current European leadership has the vision to implement such reforms in the wake of the euro crisis.
The authors argue that it is essential to begin working now to expand and establish rules and norms governing armed drones, thereby creating standards of behavior that other countries will be more likely to follow.
The author examines Pakistan's complex role in U.S. foreign policy and advocates for a two-pronged approach that works to quarantine threats while integrating Pakistan into the broader U.S. agenda in Asia.