Greenberg Center for Geoeconomic Studies Publications Archive

Foreign Affairs Article

Putin's Lehman Moment

Author: Robert Kahn

Robert Kahn argues that the West should be ready to impose more robust economic sanctions against Russia, in order to deter it from further infiltrating or destabilizing Ukraine. Russia's economic complexity means sanctions would meaningfully reduce Russian wealth and growth, since Russian oligarchs and business leaders have significant financial stakes in the West.

See more in Russia and Central Asia; Sanctions

Op-Ed

China Runs Into Natural-Resources Pushback

Authors: Elizabeth C. Economy and Michael A. Levi
Wall Street Journal

Though strategists have long feared that China's quest for natural resources would lead to ever-higher prices, a breakdown in trade, and perhaps even wars, Elizabeth Economy and Michael Levi write that a stunning WTO rebuke of Chinese exports restrictions shows that the global system is far more resilient than the worriers have claimed.

See more in China; Energy and Environment

Op-Ed

What Europe Can Learn From the U.S. Bank Crisis

Authors: Benn Steil and Dinah Walker
Wall Street Journal

Benn Steil's latest op-ed in the Wall Street Journal, co-authored with Dinah Walker, explains why the ECB's anticipated foray into more aggressive monetary stimulus next week won't have any significant effect on the availability and cost of private-sector credit. The ECB believes that its ongoing bank stress tests will help revive the eurozone's moribund banking industry, but we argue that the tests are counterproductive without a mechanism in place to assure sufficient recapitalization of banks that fall short—as there was in the United States in 2009.

See more in Europe; Banks and Banking