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October 13, 2006

Financial Markets
Playing Monopoly with the Devil: Developing World Needs to Adopt the Dollar as its Currency

Replacing domestic currencies with an international one is the best way for developing countries to create a financially stable environment and integrate into the ever-globalizing world economy, argu…

October 10, 2006

Development
Playing Monopoly with the Devil

Read an excerpt of Playing Monopoly with the Devil. Why should a developing country surrender its power to create money by adopting an international currency as its own? This comprehensive book ex…

March 10, 2009

Monetary Policy
Monetary Nationalism Will Worsen Economic Crisis, Warns New Book by Benn Steil and Manuel Hinds

As a global economic crisis unfolds, a new book by CFR director of international economics Benn Steil and former Salvadoran finance minister Manuel Hinds warns that the incompatibility of globalizati…

March 31, 2009

Financial Markets
Money, Markets, and Sovereignty

A fascinating intellectual history of monetary nationalism from the ancient world to the present exploring why, in its modern incarnation, it represents the single greatest threat to globalization.

May 30, 2017

U.S. Foreign Policy
Manuel Noriega, 1934-2017

Manuel Noriega died over the weekend, and therein lie many tales. The ancient Latin bromide de mortuis nihil nisi bonum must be stretched to discuss Noriega, who until his capture and jailing by t…

May 7, 2018

Mexico
Institutional Revolutionary Party (PRI) presidential candidate Jose Antonio Meade waves after a meeting with the National Chamber of Commerce (CANACO) in Mexico City, Mexico April 19, 2018. Mexico’s Ruling Party Is a Dead Man Walking

Enrique Pena Nieto was supposed to be the Institutional Revolutionary Party's savior. But instead, the ruling party looks to lose in the upcoming elections with candidate Jose Antonio Meade. Yet the PRI's political model will live on in the form of MORENA's Andres Manuel Lopez Obrador.

April 27, 2018

Venezuela
Venezuela's Oil Minister and President of the Venezuelan state oil company PDVSA Manuel Quevedo attends the event launching the new Venezuelan cryptocurrency "Petro" in Caracas, Venezuela February 20, 2018. Why Oil Sanctions Against Venezuela No Longer Make Sense

This post is co-written by David R. Mares, the Institute of the Americas chair for Inter-American Affairs and professor for political science at the University of California San Diego and the Baker I…

April 25, 2018

Mexico
Leftist front-runner Andres Manuel Lopez Obrador of the National Regeneration Movement (MORENA) gestures while leaving the Palacio de Mineria after the first presidential debate in Mexico City, Mexico April 22, 2018. The Coming Presidential Elections in Mexico: Will López Obrador maintain the Lead?

This is a guest post by Isidro Morales, a professor of the School of Government at Tecnológico de Monterrey, Santa Fe (Mexico City) campus. On Sunday April 22, the first of three presidential deba…

April 24, 2018

Brazil
A Petrobras refinery in Cubatao, Brazil. Brazil’s Corruption Fallout

Federal investigators in Brazil have uncovered corruption at the highest levels of the government and in the country’s largest corporations.

April 5, 2018

Mexico
A union worker holds a placard as she protests outside Pemex headquarters to demand better contracts for technicians and other professionals, in Mexico City, Mexico November 7, 2017. The placard reads: "The oil is from the nation" Mexico's Election Could Leave Its Economy in Limbo — No Matter Who Wins

Pena Nieto’s structural reforms in Mexico have yielded a few quick gains, mostly in telecom prices and access to credit, but most of the benefits are yet to come. However many may not, as justified frustration with the government’s fiscal mismanagement and corruption leads voters to turn away from a more open economic model before the advantages appear.