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Trade Liberalization: Cordell Hull and the Case for Optimism

by 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 Hulla's path through the decades and shows how his legacy lights the way for leaders of both political parties.

Afghanistan: The Case for Optimism

by Max Boot
Max Boot says a strategy that focuses on defeating the Taliban and reducing the corruption that allows them to thrive can produce victory in Afghanistan.

Doha - The Last Mile

by Jagdish N. Bhagwati, Arvind Panagariya
In this New York Sun op-ed, Jagdish Bhagwati and Arvind Panagariya make the case for optimism on the Doha Round. A compromise is possible if the U.S. agrees to cap trade-distorting subsidies at a minimum of the current payouts and India agrees to a downscaling of the Special Safeguard Mechanism.
Foreign Affairs Article

Ebolaa's Lessons

by Laurie Garrett
In a biological sense, last yeara's Ebola epidemic, which struck West Africa, spilled over into the United States and Europe, and has to date led to more than 27,000 infections and more than 11,000 deaths, was a great surprise. Local health and political leaders did not know of the presence of the hemorrhagic fever virus in the 35,000-square-mile Guinea Forest Region, and no human cases had ever been identified in the region prior to the outbreak.
Other Report

Global Economics Monthly: December 2014

by Robert Kahn
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that unless Japan begins to undertake structural economic reforms, its growth will be almost entirely dependent on easy money, increasing global economic tensions in 2015.
Other Report

Global Economics Monthly: May 2015

by Robert Kahn
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that it is time for central banks to debate whether a higher inflation target would improve the operation of monetary policy.

A Turbulent Year Ahead

by James M. Lindsay, Bernard Gwertzman
Ongoing Middle East conflicts, economic storm clouds, and perennial tensions in Asia augur a tough 2015 for global leaders, says CFRa's James M. Lindsay.
Policy Innovation Memorandum

A Paris Club for Europe

by Robert Kahn
Europe can no longer afford to put off its debt problem. Robert Kahn recommends that policymakers draw lessons from the Paris Club to provide a rules-based approach to debt relief that can get Europe back on the path to growth.

How the Fed Flubbed It

by Sebastian Mallaby
CFR Senior Fellow Sebastian Mallaby reviews economic historian Barry Eichengreen's newest book Hall of Mirrors, which argues that history should have guided U.S. and European central bankers toward better decisions during the 2008 financial crisis.
Other Report

Global Economics Monthly: November 2014

by Robert Kahn
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that with the European Central Bank's stress test completed, now is the time for Europe to get back on the path to growth by tackling its debt problem.