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November 12, 2020

Cybersecurity
Widening the Aperture on the Study of Internet Control

Internet control is more than just an authoritarian problem. It invades the openness of democratic societies as well.

A man takes a selfie during a live screening of a ceremony by Prime Minister Narendra Modi.

November 10, 2020

United States
Happy 245th Birthday to the United States Marine Corps!

The U.S. Marine Corps turns 245 years-old today. On November 10, 1775, the Continental Congress adopted a resolution to create a Marine force composed of two battalions. Since then, the Marines have …

Marines

October 30, 2020

Currency Reserves
It Is Time To Scrap the IMF's Reserve Adequacy Metric

The IMF reserve metric isn't working: it is failing to differentiate between obviously under-reserved countries like Turkey and Argentina and adequately reserved countries like China.

It Is Time To Scrap the IMF's Reserve Adequacy Metric

October 23, 2020

Election 2020
Campaign Foreign Policy Roundup: Biden and Trump Debate Foreign Policy, Kinda

Each Friday, I look at what the presidential contenders are saying about foreign policy. This week: foreign policy was a topic at the second and final presidential debate of the 2020 campaign. 

Joe Biden and Donald Trump gesture at each other from behind their podiums while Kristen Welker is seated between them on the debate stage.

October 23, 2020

Turkey
The Changing Nature of Turkey’s Balance Sheet Risks

Pay attention to banking system's foreign currency exposure to the government ...

The Changing Nature of Turkey’s Balance Sheet Risks

October 20, 2020

Trade
China’s Surplus is Rising Rapidly. So is the U.S. Deficit. The IMF Cannot Turn a Blind Eye.

Do not use the IMF’s current account forecast in the Fall 2020 World Economic Outlook (WEO). It is already out of date.     

China’s Surplus is Rising Rapidly. So is the U.S. Deficit. The IMF Cannot Turn a Blind Eye.

October 16, 2020

Election 2020
Campaign Foreign Policy Roundup: What to Do About Afghanistan?

Each Friday, I look at what the presidential contenders are saying about foreign policy. This week: how Donald Trump and Joe Biden say the United States should deal with Afghanistan

Soldiers

October 13, 2020

United States
Happy 245th Birthday to the U.S. Navy!

The U.S. Navy turns 245 years-old today. On October 13, 1775, the Continental Congress commissioned two ships, each with eighty sailors, “for intercepting such transports as may be laden with warlike…

Navy

October 9, 2020

Election 2020
Campaign Foreign Policy Roundup: VP Candidates Discuss Foreign Policy

Each Friday, I look at what the presidential contenders are saying about foreign policy. This week: Kamala Harris and Mike Pence discussed U.S. policy toward China and U.S. global leadership at Wedne…

Senator Kamala Harris and Vice President Mike Pence sit across from each other separated by plexiglass on the stage of the vice-presidential debate.

October 7, 2020

Emerging Economies
Reframing the Collective Action Problem in Sovereign Bond Restructuring

A recent white paper from Lazard points out that emerging market sovereign bond holdings are often fairly concentrated among a handful of big players.  The main impediment to collective action may be…

Reframing the Collective Action Problem in Sovereign Bond Restructuring