All CFR Reports

A New Information Infrastructure for Financial Markets

A New Information Infrastructure for Financial Markets

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.

See more in United States; Financial Markets; Digital Infrastructure

Eurasian Energy Security

Eurasian Energy Security

Author: Jeffrey Mankoff

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.

See more in Europe; Energy Policy; Russian Federation

War About Terror

War About Terror

Author: Daniel B. Prieto

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.

See more in United States; Terrorism and the Law

Preparing for Sudden Change in North Korea

Preparing for Sudden Change in North Korea

Authors: Paul B. Stares and Joel S. Wit

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.

See more in North Korea; Conflict Prevention

The Future of Foreign Assistance Amid Global Economic and Financial Crisis

The Future of Foreign Assistance Amid Global Economic and Financial Crisis

Author: Laurie Garrett

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.

See more in Global; Foreign Aid; Financial Crises

Averting Crisis in Ukraine

Averting Crisis in Ukraine

Author: Steven Pifer

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.

See more in Conflict Prevention; Ukraine

GCC Sovereign Funds: Reversal of Fortune

GCC Sovereign Funds: Reversal of Fortune

Authors: Brad W. Setser and Rachel Ziemba

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.

See more in Regional Security; Middle East and North Africa; Sovereign Wealth Funds

A Global Education Fund: Toward a True Global Compact on Universal Education

A Global Education Fund: Toward a True Global Compact on Universal Education

Author: Gene B. Sperling

In this Center for Universal Education Working Paper, Gene B. Sperling argues that there are important design 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.

See more in Education; Global

Fragility, Instability, and the Failure of States: Assessing Sources of Systemic Risk

Fragility, Instability, and the Failure of States: Assessing Sources of Systemic Risk

Author: Monty G. Marshall

This Center for Preventive Action Working Paper surveys existing approaches to assessing state fragility and failure within the context of development, conflict, and governance. It examines the risk factors that have been identified through systematic inquiry and research with the goal of improving the prospects for successful conflict prevention and management, and argues that the goal of "early warning" relating to state fragility and failure should be more to inform and temper our expectations for policy response than to trigger costly and risky interventions.

See more in Conflict Prevention

Congo

Congo

Author: Anthony W. Gambino

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.

See more in Congo, Democratic Republic of; Peacekeeping

American Myths

American Myths

Read the chapter contributed by former CFR visiting senior fellow for geoeconomics Jessica LeCroy: "Can Canada Be as Innovative, Competitive, and Entrepreneurial as the United States?"

Deterring State Sponsorship of Nuclear Terrorism

Deterring State Sponsorship of Nuclear Terrorism

Author: Michael A. Levi

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.

See more in United States; Proliferation; State Sponsors of Terrorism

China, Space Weapons, and U.S. Security

China, Space Weapons, and U.S. Security

Author: Bruce W. MacDonald

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.

See more in Space; China

Sovereign Wealth and Sovereign Power

Sovereign Wealth and Sovereign Power

Author: Brad W. Setser

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.

See more in United States; Financial Crises

Trade Liberalization: Cordell Hull and the Case for Optimism

Trade Liberalization: Cordell Hull and the Case for Optimism

Author: Douglas A. Irwin

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.

See more in United States; Trade

Food Price Inflation: Explanation and Policy Implications

Food Price Inflation: Explanation and Policy Implications

Author: Karen H. Johnson

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.

See more in Food Security; Agricultural Policy; Global

Avoiding Transfers to Torture

Avoiding Transfers to Torture

Author: Ashley S. Deeks

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.

See more in Terrorism and the Law; United States