Global

Must Read

FT: Investment: Dollar Disruptions

Author: Robin Wigglesworth

"A dollar renaissance is unlikely to prove as agonising as it did in the past. The biggest risk in 2014 is going to be the more immediate impact that the Fed's unwinding of its quantitative easing programme will have on global borrowing costs. Chinese economic growth – a big driver of emerging economies – is another wild card. But a stronger dollar will not prove painless and policy makers in the developing world should not be complacent."

See more in Global; Economics

Must Read

Journal of Democracy: Breaking the News: The Role of State-Run Media

Authors: Christopher Walker and Robert W. Orttung

"Aside from outliers such as Cuba, North Korea, and Turkmenistan, today's authoritarian regimes do not seek total domination of all the means of mass communication. What they want instead is what we might call "effective media control"—enough for them to convey their strength and puff up their claims to legitimacy while undermining potential alternatives. Such state dominance—whether exerted through overtly state-run or merely state-pliable media outlets—enables regimes to put progovernment narratives front and center while using the power of editorial omission to limit systematic criticism of official policies and actions."

See more in Global; Media and Foreign Policy

Testimony

Federal Reserve Policy and Emerging Markets

Author: Benn Steil

In his testimony before the House Committee on Financial Services' Subcommittee on Monetary Policy and Trade, Benn Steil argues that changes in U.S. monetary policy can have significant impact on emerging-market capital inflows and outflows and that the resulting exchange rate movements against the dollar can have large and rapid effects on the level of inflation and exports.

See more in Global; Monetary Policy

Audio

Savings: The Next Frontier in Financial Inclusion

Speakers: Mary Ellen Iskenderian and Steve Hollingworth
Presider: Isobel Coleman
CFR Senior Fellow Isobel Coleman leads a conversation with Mary Ellen Iskenderian of Women's World Banking and Steve Hollingworth of Freedom from Hunger about how savings are blazing the next frontier in poverty eradication.

See more in Global; Women

Must Read

CRS: Bitcoin: Questions, Answers, and Analysis of Legal Issues

Authors: Craig K. Elwell, M. Maureen Murphy, and Michael V. Seitzinger

"This report has three major sections. The first section answers some basic questions about Bitcoin and the operation of the Bitcoin network and its interaction with the current dollar-based monetary system. The second section summarizes likely reasons for and against widespread Bitcoin adoption. The third section discusses legal and regulatory matters that have been raised by Bitcoin and other digital currencies."

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Ask CFR Experts

Do stronger international institutions necessarily mean a weaker United States?

Asked by Aisling L
Author: Stewart M. Patrick

International institutions provide a platform for promoting, formalizing, and enforcing rules, norms, and regimes that regulate state behavior. As a leader in many of these fora, the United States is well positioned to promote its national interests through multilateral partnerships. Multilateral consensus is uniquely capable of legitimizing U.S. action and spreading burdens of leadership.

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See more in Global; Global Governance