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FeaturedThe first in-depth account of the sudden growth of China’s sovereign wealth funds and their transformative impact on global markets, domestic and multinational businesses, and international politics.
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Economics
Budget, Debt, and Deficits
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Out of the Debt Ceiling Fire, But Still in the Frying PanNow that Congress voted to pass a bill based on the Biden-McCarthy compromise, an immediate debt ceiling crisis appears to have been averted. Still, a much larger debt problem awaits.
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What Happens When the U.S. Hits Its Debt Ceiling?As the U.S. government grapples with another deadline to increase its debt ceiling in 2023, economists warn that a possible default could have disastrous economic consequences.
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Turkey’s Runoff Election, Debt Ceiling Dangers, Nigeria’s Tinubu Inaugurated as President, and MorePresident Recep Tayyip Erdoğan and his opponent Kemal Kılıçdaroğlu face off in Turkey’s runoff election; U.S. government leaders contend with a looming deadline to avoid a disastrous default; president-elect Bola Tinubu is sworn in as Nigeria contends with an economic crisis; Evan Gershkovich’s pre-trial detention is extended; and Sudan struggles to find a lasting solution to the conflict between the military and a paramilitary group, exacerbating its humanitarian crisis.
Experts in this Topic
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Navigating U.S. Economic UncertaintyBrad W. Setser, CFR’s Whitney Shepardson senior fellow, leads a conversation on the likelihood of an economic recession, the current debt ceiling debate, and recent instability in the U.S. banking se…
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South Korea-Japan Summit, U.S. Border Policy Changes, U.S. Annual Threat Assessment, and MoreJapanese Prime Minister Kishida Fumio meets with South Korean President Yoon Suk-yeol in Seoul, South Korea; major pandemic-related U.S. immigration policies such as Title 42 end, straining an already overwhelmed southern border; the director of national intelligence and the director of the Defense Intelligence Agency brief a Senate panel on the top international threats to U.S. national security; and the U.S. Congress debates a plan to prevent default.
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Renewing America Series: The Debt Ceiling Fight and the Future U.S. Debt PictureAs the battle over raising the U.S. debt ceiling continues to take shape, former Treasury Secretary Jack Lew and former Senator Rob Portman discuss the politics surrounding the coming fight, the possible consequences of a default, and the implications of mounting debt for the United States going forward.
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As the Debt Ceiling Crisis Looms, Allies and Adversaries Are WatchingA U.S. default would send a shock through the global economy and risk the credibility of the U.S. dollar. It would also alarm U.S. allies while presenting a gift to its adversaries.
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Prospects and Consequences of China’s Economic SlowdownPanelists discuss the cost of China’s zero-COVID policy, the country’s dwindling economic growth, and the consequences of China’s economic slowdown at home and on its international economic relations.
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What Is the U.S. Federal Reserve?Over the past decade, the Fed kept interest rates low while it deployed trillions of dollars in stimulus and expanded its regulatory oversight. Now, the central bank is back in the spotlight for its battle against inflation.
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C. Peter McColough Series on International Economics With Lawrence H. SummersLawrence H. Summers discusses the U.S. economy and inflation, recovery from the COVID-19 pandemic, and the global economic consequences of Russia's invasion of Ukraine. The C. Peter McColough Series on International Economics brings the world's foremost economic policymakers and scholars to address members on current topics in international economics and U.S. monetary policy. This meeting series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies.
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Stephen C. Freidheim Symposium on Global EconomicsThe 2022 Stephen C. Freidheim Symposium on Global Economics discusses building an inclusive U.S. economy and reforming capitalism to address inequality. The full agenda is available here. This symposium is presented by the Maurice R. Greenberg Center for Geoeconomic Studies and is made possible through the generous support of Council Board member Stephen C. Freidheim.
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The Economics of Hosting the Olympic GamesThe costs of hosting the Olympics have skyrocketed, while the economic benefits are far from clear. This has led to fewer states interested in playing host and a search for options to lighten the burdens of staging the big event.
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The National Debt DilemmaAfter years of steadily increasing debt, emergency spending in response to the COVID-19 pandemic has taken U.S. debt to levels not seen since World War II.
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What’s at Stake in the Debt Ceiling ShowdownU.S. lawmakers are at loggerheads over raising the limit on government borrowing. Here’s what to know about the debate.