Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the concerns driven by China's economic problems are modest compared to the 1997 Asian financial crisis or the Great Recession. However, there are reasons for concern: large financial imbalances, weak global growth, inadequate official resources, and political pressures. While a severe global financial crisis remains a tail risk, policymakers need to be prepared to respond.
Fuel economy standards are a central element of U.S. energy security and climate change strategy. Varun Sivaram and Michael A. Levi explore the case for maintaining stringent Corporate Average Fuel Economy (CAFE) standards.
Although the United States leads the world in technology innovation, it may fall behind if the government does not address emerging gaps in innovation policy and invest more in scientific research, argues a new progress report and scorecard from the Council on Foreign Relations’ (CFR) Renewing America initiative. The report is authored by Renewing America Associate Director Rebecca Strauss and CFR Bernard L. Schwartz Senior Fellow and Renewing America Director Edward Alden.
Management theorist Peter Drucker famously declared that companies must “innovate or die.” Washington today is full of similar warnings, based on the premise that the US is losing its innovation edge. The fear is that industrial and technological advancements in other countries—and in China in particular—threaten to leave us behind.
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.
Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that China's growth prospect lies somewhere between hard-landing and muddle-through scenarios. However, uncertainty remains and is already being felt strongly and likely to put increasing pressure on emerging markets through trade contraction and financial contagion. For the United States, fragility in emerging markets is the critical risk and will dominate economic decision-making for months if not years to come.
The Trans-Pacific Partnership trade deal concluded on Monday puts the US in a place it has not been in more than two decades — out in front in the competition to write the rules for the next generation of global trade.
Following the agreement reached on the Trans-Pacific Partnership by the United States and eleven other countries, Council on Foreign Relations experts assessed the trade deal’s consequences for the global trade regime, geopolitics, and the international economy.
The visit of Pope Francis cast a spotlight on U.S. climate policies, which rely on executive action to chase emission reduction targets pledged ahead of a year-end conference, write CFR’s Varun Sivaram and Allison Dorey.
Edward Alden, CFR’s Bernard L. Schwartz senior fellow and director of the CFR Renewing America publication series, discusses international trade policy and American competitiveness, as part of CFR's Academic Conference Call series.
Ukraine faces two severe and immediate challenges: armed pro-Russian separatists in the eastern part of the country and a sharp, nationwide economic deterioration stemming in no small part from that military threat.CFR convened a group of experts to discuss Ukraine’s economic challenges and identify possible ways for outside actors to support Ukrainian policymakers
Deforestation is a major man-made source of greenhouse gas emissions, and is especially significant in countries with large tropical forests. CFR hosted a workshop designed to draw lessons from Brazil’s recent success at limiting deforestation, understand why countries such as Indonesia have so far struggled, and identify ways to further reduce deforestation.
The amount of international aid given to address noncommunicable diseases is minimal. Most of it is directed to wealthier countries and focuses on the prevention of unhealthy lifestyles. Explanations for the current direction of noncommunicable disease aid include that these are diseases of affluence that benefit from substantial research and development into their treatment in high-income countries and are better addressed through domestic tax and policy measures to reduce risk-factor prevalence than through aid programs. This study assessed these justifications. First, we examined the relationships among premature adult mortality, defined as the probability that a person who has lived to the age of fifteen will die before the age of sixty from noncommunicable diseases; the major risk factors for these diseases; and country wealth. Second, we compared noncommunicable and communicable diseases prevalent in poor and wealthy countries alike, and their respective links to economic development. Last, we examined the respective roles that wealth and risk prevention have played in countries that achieved substantial reductions in premature mortality from noncommunicable diseases. Our results support greater investment in cost-effective noncommunicable disease preventive care and treatment in poorer countries and a higher priority for reducing key risk factors, particularly tobacco use.
The way the world trades has changed since the World Trade Organization (WTO) was established. Fewer goods and services originate from any one supplier or country. Components and intermediate services are increasingly sourced and assembled from specialist suppliers around the world. Regulation also plays a more significant role in this era of international trade. The adequacy of regulatory oversight has become more important as complex, unbundled global supply chains have become harder for businesses and customers to monitor.
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.
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