In his testimony before the Senate Committee on Foreign Relations' Subcommittee on Europe and Regional Security Cooperation, Robert Kahn argues that although Greece's direct trade and financial links to the U.S. economy are small and there is less of a direct systemic threat to the United States than when the crisis began in 2009, the risks are still material.
Earlier this month, the U.S. Commerce Department reviewed its tariffs on imported Chinese solar panels, originally imposed in 2012 in retaliation against Chinese subsidies and below-market pricing, and opted to maintain the total tariff burden on most panels.
At this point in time, given the current Iranian leadership, the state of Iranian public opinion, and Iranian economic conditions, relying on unilateral economic leverage to obtain a better deal is an illusion, argues Miles Kahler. More likely it would drive Iran further in the direction of North Korea—an unrestrained nuclear program and an economically isolated, unreformed regime.
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.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that if Greece exits the eurozone, introducing a new currency could occur quickly; getting broader economic policies right is the more difficult challenge facing the country.
To obtain better value for health-care dollars, it's important to evaluate in detail which ones are well-spent and which are not. The $150-billion-a-year market for implantable medical devices in the U.S. -- which includes everything from artificial hips to pacemakers -- is a good illustration of this challenge and how to meet it.
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.
Authors: Varun Sivaram, Henry J. Snaith, and Samuel D. Stranks Scientific American
An upstart material—perovskite—could finally make solar cells that are cheaper and more efficient than the prevailing silicon technology. Varun Sivaram and co-authors delve into the science behind perovskites and assess the technology’s commercial prospects.
For decades, oil prices have influenced the outlook for alternatives to oil and policies that support those alternatives. Expensive oil makes substitutes more appealing; cheap oil makes the economic case for alternatives that much more difficult. High prices in the 1970s kick-started clean energy, including the first modern electric vehicles, while the oil slump beginning in the 1980s pummeled sources like wind and solar power and undermined the push for more fuel-efficient cars.
In recent years, frugal and reverse innovation have gained attention as potential strategies for increasing the quality and accessibility of health care while slowing the growth in its costs. Thomas J. Bollyky arges that the demand for these types of innovation is increasing and outlines three practical questions for policymakers seeking real investments and results.
Climate talks have largely failed to curb rising temperatures, but bottom-up initiatives featuring subnational actors hold great promise if coordinated effectively. Varun Sivaram and David Livingston argue that California and Germany can “lead from between” to bridge international and subnational climate action.
Most observers agree that the United States, propelled by its boom in oil and gas production, is becoming increasingly central to global energy. As oil prices have plummeted, American oil producers have taken credit. As U.S. imports have fallen, foreign policy thinkers have suggested that Washington could rely far less on the Middle East.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the United States should empower the International Monetary Fund and Group of Twenty to better address currency manipulation concerns.
Benn Steil’s op-ed explains how the mechanics of implementing Federal Reserve monetary policy have changed radically since the crisis. Little known is that the new plumbing is not actually controlled by the FOMC, but by the much smaller Board of Governors. Given that the Board is decidedly more dovish than the FOMC, Fed watchers focused on the latter may be expecting a more aggressive timing and pace of rate rises than is likely.
Central bank currency swaps are becoming the new cross-border tool of choice in financial crisis management. This interactive explores the rapid growth of currency swaps since 2007 and its implications for the global financial system.
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