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Global Governance Working Papers

These Global Governance Working Papers are a new feature of the Council of Councils initiative. Targeting critical global problems where new, creative thinking is needed, the working papers identify new principles, rules, or institutional arrangements that can improve international cooperation in addressing longstanding or emerging global problems.

Global Monetary Policy Divergence and the Reemergence of Global Imbalances

Jun 26, 2018

To minimize the risk of greater global imbalances, U.S. policymakers should rethink U.S. fiscal policy and focus on the transatlantic imbalances, not the bilateral trade deficit with China.

This paper has benefited from numerous comments and suggestion from Council on Council members, in particular Brad Setser and Terrence Mullan.

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Domesticating the Giant: The Global Governance of Migration

Jun 19, 2018

A global policy framework and consolidated institutional architecture can help states facilitate regular migration, cope with illegal crossings, and humanely respond to forced migration.

The author thanks Asmita Parshotam (South African Institute of International Affairs), David Kipp (German Institute for International and Security Affairs), Asli Selin Okyay (Institute of International Affairs), Stewart Patrick (Council on Foreign Relations), and Christophe Bertossi and Matthieu Tardis (French Institute of International Relations) for their comments.

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Increasing International Cooperation in Cybersecurity and Adapting Cyber Norms

Feb 23, 2018

The world must not allow the establishment of cyber norms to atrophy. It is imperative that international cyber cooperation increases to protect the stability and resiliency of the global digital economy. Proposals for cooperation include restarting the U.S.-Russia dialogue, reconvening UN experts and implementing existing norms, starting discussions on a global cybercrime convention, and codifying cyberattack legislation into international law.

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Adapting International Trade Institutions to New Realities

Feb 13, 2018

A gradual approach of building consensus and popular support for the multilateral trading system could bolster global economic governance at a time of growing opposition to global trade.

The author thanks Rohinton Medhora, Marek Wasinski, Damian Wnukowski, Asmita Parshotam, Elizabeth Sidiropoulos, Talitha Bertelsmann-Scott, and Andres Matias Schelp for their valued contributions to this paper.

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The Challenge From North Korea

Nov 29, 2017

A nuclear-armed North Korea is a threat to the fragile strategic equilibrium on the Korean Peninsula and to international security at large. Emboldened by a nuclear arsenal, the highly militarized regime of President Kim Jong-un could be tempted to embark on aggressive acts. Meanwhile, the United States could opt for preventive military action.

The authors thank Mark Fitzpatrick, Oliver Meier, and Artur Kacprzyk for comments that greatly improved this working paper.

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