Benn Steil’s May 20 op-ed on the PBS NewsHour Making$ense site, co-authored with Emma Smith, explains the practical and political barriers to further monetary or fiscal loosening in nations representing at least 60 percent of the global economy. This spells trouble ahead if economic conditions worsen.
Last week, Washington attempted two important policy feats aimed squarely in Beijing’s direction. U.S. Defense Secretary Ash Carter grabbed headlines by visitingthe South China Sea, after earlier announcing he would scrap a visit to Beijing amid rising tension over territorial disputes in the region.
The government of India filed suit on March 3 in the World Trade Organization (WTO) seeking to overturn a new U.S. tax on high-skilled migrants that India says discriminates against its citizens and would damage some of its most successful companies. The case marks the first time that a country's immigration laws have been challenged using the rules of a trade agreement, writes CFR’s Edward Alden.
U.S. leaders still haven't quite figured out the right formula for the greatest geopolitical challenge facing the United States this century: managing China's rise. But that may have changed Monday, when President Barack Obama welcomed leaders from the 10 member countries of the Association of Southeast Asian Nations for a two-day summit at Sunnylands in California, the so-called Camp David of the West.
Benn Steil and Emma Smith’s op-ed explains why the ECB should worry Emerging Markets almost as much as the Fed does. A big rise in speculative euro borrowing makes them vulnerable to euro appreciation, which could be dramatic if Draghi disappoints in March.
As climate plays a growing role in energy markets, serious energy analysis can no longer choose to focus only on traditional energy economics and geopolitics, write Michael Levi and Ed Morse. Policymakers, analysts, companies, and investors that deal in traditional energy will need to become much more sophisticated in their understanding of climate policy.
There is no other area of global governance—not climate change, not management of the oceans, not monetary policy, not peacekeeping—in which the nations of the world have agreed to cooperate more closely than on the rules governing international trade. But over the past half-century, each step toward greater trade cooperation has been a bit harder than the last.
To pay for the new federal budget deal, which President Obama recently signed into law, Congress has agreed to sell 58 million of the 695 million barrels of the United States’ strategic petroleum reserve (SPR).
When President Obama welcomes President Joko Widodo of Indonesia on his first White House visit next week, he will have a valuable opportunity to help curb one of the world’s largest sources of carbon emissions.
Even though there is little fundamental linkage between oil prices and the competitiveness of solar or wind power across the developed world, newly risk-averse investors in renewable energy Yieldcos are dumping investments they suddenly consider overvalued.
Elizabeth C. Economy and Michael Levi explore how Chinese demand drive global commodity prices, the broader implications of the Chinese slowdown for the global economy and regional security, and consequences of China’s resource quest for the world’s resource-producing states and industries.
Shale gas is no panacea but, with the right policies to protect communities where gas is produced and to harness the fuel as part of a broader climate strategy, it can play a critical role in confronting global warming, argues Michael A. Levi in a Democracy article.
In Market Madness, Blake C. Clayton shows that predictions of dwindling oil supplies and a rise in prices have been empirically proven incorrect. Technological advances and geopolitical shifts have repeatedly prompted sudden, severe drops in oil prices—exactly like the one we are experiencing today.
In By All Means Necessary, Elizabeth C. Economy and Michael Levi explore the unrivaled expansion of the Chinese economy. China is now engaged in a far-flung quest, hunting around the world for resources, and deploying whatever it needs in the economic, political, and military spheres to secure them. More
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. More
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. More