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November 19, 2018

International Organizations
The World Bank Group’s Role in Global Development

Since its founding in 1944, the World Bank has evolved from a lender focused on European reconstruction to the preeminent international institution for economic development and poverty reduction.

Villagers line up for cooking oil donated by local businessmen in Myanmar.

November 10, 2018

United States
Happy 243rd Birthday to the United States Marine Corps!

The Marine Corps turns 243 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 been …

USMC birthday

November 1, 2018

International Organizations
The IMF: The World’s Controversial Financial Firefighter

The International Monetary Fund, both criticized and lauded for its efforts to promote financial stability, continues to find itself at the forefront of global economic crisis management.

IMF Director Christine Lagarde

September 24, 2018

China
How Did China Manage its Currency Over the Summer?

China still manages its currency. That’s hardly a shocking statement, I know. But I don’t fully subscribe to the view that China’s depreciation in the summer was simply a market move, given the dolla…

How Did China Manage its Currency Over the Summer?

September 25, 2018

United States
“Russia is the first instance of a socialist economy in action. And it works!” My transcription of an H.D. White essay.

“Political Economic Int. of Future,” by Harry Dexter White (c.1944) In 2013, I published an historical narrative entitled The Battle of Bretton Woods: John Maynard Keynes, Harry Dex…

Essay First Page

September 6, 2018

Human Rights
Human Rights Safeguards Take a Backseat in New Global Economics Institutions

As states struggle to balance commercial interests with the promotion of human rights, social safeguards in trade and loan agreements—often included at the insistence of Western countries—are increas…

Labourers work at a garment factory in Bac Giang province, near Hanoi October 21, 2015.

September 13, 2018

Turkey
Could A Coalition of the “Friends of Turkey” Ride to Turkey’s Financial Rescue?

Turkey is in a bit of financial trouble. It isn’t clear that today's rate hike on its own will be enough. The rate hike will make the lira a bit more attractive to foreign investors (and will raise t…

Could A Coalition of the “Friends of Turkey” Ride to Turkey’s Financial Rescue?

September 10, 2013

Europe and Eurasia
The Battle of Bretton Woods

Teaching Notes on The Battle of Bretton Woods by CFR Senior Fellow Benn Steil.

The-Battle-of-Bretton-Woods.jpg

July 23, 2018

China
China’s Currency Is Back in Play

China's currency is getting awfully close to some key levels, levels where in the past China has resisted further depreciation. The signals China sends from here on will be critical.

China’s Currency Is Back in Play

June 30, 2014

Global
Bretton Woods Lessons

The 1944 Bretton Woods conference ensured a leading role for Washington in the global financial system but also contributed to present-day problems that will be difficult to fix, says CFR’s Benn Stei…