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October 24, 2008
Daniel Markey, a former State Department specialist on South Asia, says Pakistan "is going through another series of really tough times" brought on by the economic downturn that has hit the country, and by the continuing problems fighting the Taliban and al-Qaeda.
See more in Pakistan, Economics
October 21, 2008
The Financial Times' Martin Wolf argues that massive accumulations of currency reserves enabled housing bubbles in developed economies and sparked the current financial crisis. The shakeout, Wolf says, could take years.
See more in United States, China, Economics, International Finance, International Organizations
October 17, 2008
Shantayanan Devarajan, chief economist of the World Bank's Africa region, discusses how Africa will be affected by the global financial crisis.
See more in Africa, Economics, International Organizations
October 10, 2008
David Rubenstein, founder of the private equity firm the Carlyle Group, sees more pain ahead for global markets. He says the "entire economic construct" of recent decades may have to undergo radical change before the present crisis subsides.
See more in United States, Economics, International Finance
October 9, 2008
Anne-Marie Slaughter, dean of Princeton's Woodrow Wilson School, discusses the long-term geopolitical implications of the financial crisis.
See more in United States, Business & Foreign Policy, International Finance
October 8, 2008
The UN special envoy on climate change for Papua New Guinea discusses the implications the financial crisis has for international efforts on climate change.
See more in United States, International Finance, Climate Change
October 6, 2008
Economist Nouriel Roubini argues the $700 billion U.S. bailout bill will not alleviate frozen credit markets in the short term and encourages a series of steps to alleviate the current crisis.
See more in United States, Europe/Russia, Economics, Business & Foreign Policy, International Finance
Updated: September 17, 2008
Maurice R. Greenberg, the former chairman and CEO of the embattled insurance giant AIG, discusses what will be needed to stabilize the firm's operations.
See more in United States, Economics
September 9, 2008
Four CFR experts discuss the U.S. Treasury's takeover of mortgage lenders Fannie Mae and Freddie Mac, what the move means for financial markets, and what risks remain.
See more in United States, Financial Crises, International Finance
April 2, 2008
CFR’s Benn Steil examines proposals for a regulatory overhaul of the U.S. financial system put forth by Treasury Secretary Henry Paulson.
See more in United States, Economics
December 17, 2007
CFR's Roger Kubarych says a new plan could boost banks' confidence about reserve requirements, but adds that other problems loom.
See more in United States, Economics
November 12, 2007
CFR geoeconomic fellow Brad W. Setser explains what’s behind the dollar’s recent decline and says the Federal Reserve shouldn’t use interest rates as a tool to stabilize the exchange rate.
See more in United States, Economics, International Finance, Trade
August 16, 2007
Sebastian Mallaby, director of CFR’s Center for Geoeconomic Studies, says the skewed governing securities ratings agencies is partly to blame for stock market turmoil.
See more in United States, Western Europe, Border and Ports, Economics, International Finance
June 14, 2007
U.S. Treasury Secretary Henry M. Paulson says he will push for more Chinese flexibility in allowing its currency to appreciate, saying it “doesn’t reflect reality.”
See more in United States, China, Economics
February 28, 2007
CFR's Roger Kubarych says the plunge in global markets could have a restraining effect on the flow of credit in the U.S., China, and elsewhere.
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In Money, Markets, and Sovereignty, the authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization.
In The Closing of the American Border, Edward Alden goes behind the scenes to tell the story of the Bush administration’s struggle to balance security and openness in the wake of the September 11, 2001, terrorist attacks.
In Termites in the Trading System, Jagdish Bhagwati reveals how the rapid spread of preferential trade agreements endangers the world trading system.
In Regional Monetary Integration, Peter B. Kenen poses an important question: Should various country groups follow the lead of the European Monetary Union and form similar full-fledged monetary unions?
In contrast to conventional wisdom, the growth in government spending and heightened regulation during the Great Depression may have done much to slow economic recovery.
In this report, Benn Steil shows that the financial crisis is the inevitable bust of a classic credit boom, and explains how monetary, taxation, and home ownership promotion policy combined with other feaures of the financial system to fuel an unsustainable buildup in debt. He recommends significant reforms to reverse the debt financing bias and make the system more resilient to falls in asset prices.
In order for policymakers to tackle today’s global economic crisis, this report argues, they must go beyond bailouts and stimulus packages and focus on one of the crisis's root causes: imbalances between savings and investment in major countries.
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