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April 17, 2024

RealEcon
Onshoring Semiconductor Production: National Security Versus Economic Efficiency

Policymakers are increasingly concerned by the U.S.’s dependence on Taiwanese semiconductors. Is onshoring their production to the U.S.—a goal of the CHIPS and Science Act—a practical path forward? 

A wafer can be seen as taiwanese chip giant TSMC holds a ceremony to start mass production of its most advanced 3-nanometer chips in the southern city of Tainan, Taiwan December 29, 2022.

August 16, 2023

United States
Does Fitch’s Downgrade of U.S. Debt Really Matter?

The ratings agency’s decision will have no consequences for the U.S. dollar’s global role, but it highlights the country’s darkening fiscal outlook and governance challenges.

A woman walks past a currency exchange office in Moscow.

February 9, 2024

Global
Central Bank Currency Swaps Tracker

Introduction Since the financial crisis of 2007, central banks around the world have entered into a multitude of bilateral currency swap agreements with one another. These agreements allow a centr…

June 7, 2023

Israel
Israel at 75

Israel at 75 is facing fundamental choices about its identity. 

People walk past a waving Israeli flag as the sun on May 25, 2023 in Tel Aviv, Israel.

May 25, 2023

United States
Kissinger at One Hundred: The CFR Connection

Henry Kissinger, marking his one hundredth birthday, and the Council on Foreign Relations have had a long and substantive affiliation, one that spans the career of the preeminent scholar-practitioner…

Henry Kissinger addresses the audience at the 2013 CFR Corporate Conference.

December 19, 2023

Democracy
What a Democratic Russia Would Mean for the United States

When the Soviet Union collapsed more than thirty years ago, American leaders hoped that Russia would embark on a transition to free-market democracy. Shared democratic values, the thinking went, woul…

January 29, 2024

India
The Battle for Global South Leadership

Both China and India aspire for the role, but it is not clear if nations that belong to the group see either of them as a benign leader or their champion

Indian Prime Minister Narendra Modi and China's President Xi Jinping attend the BRICS summit meeting in Johannesburg, South Africa, July 27, 2018.

December 14, 2023

United States
The Humbling of Henry Kissinger

The truth is that his tenure as secretary of state was often rocky, and as full of setbacks as acclaim.

Kissinger