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January 22, 2024

Trade
The Curse of Nostalgia: Industrial Policy in the United States

A critical look at the past and present of industrial policy shows that its recent popularity is not only misguided, but is likely to have negative economic and geopolitical consequences for the Unit…

President Joe Biden signs the Inflation Reduction Act in the State Dining Room of the White House in Washington on August 16, 2022.

April 24, 2024

RealEcon
A Tricky Balance for Development Banks and the Developing World

The World Bank and IMF have concluded their spring meetings, but questions remain on China, lending capacity, and balancing the interests of rich and poor countries.

 President and CEO at Mastercard Ajay Banga (L) and CEO at the World Bank Kristalina Georgieva speak on stage at the 8th Annual Women In The World Summit at Lincoln Center for the Performing Arts on April 7, 2017 in New York City.

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…

April 1, 2024

Brazil
Brazil Should Use G20 Momentum to Join the OECD

Brazil has an opportunity to become a powerful bridge between developed economies and the Global South—the United States should support that ambition. 

U.S. President Joe Biden, Indian Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva hold hands as they attend the launch of the Global Biofuels Alliance at the G20 summit in New Delhi, India, September 9, 2023.

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.

January 29, 2024

Philippines
Marcos Jr. Moves the Philippines Dramatically Closer to the United States

Unlike other Southeast Asian leaders, President Marcos Jr. has chosen to explicitly align the Philippines with the United States and confront China more directly.

Philippine President Marcos wears a white button-down shirt while he walks past white colonnades with U.S. President Biden, who wears a blue suit.

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…

October 28, 2022

United States
China, the United States, and Taiwan

[Editor’s note: This was an address to the conference on “PRC’s Power Shift and Governance” sponsored by the Mainland Affairs Council (MAC) and organized by the Chinese Council of Advanced Policy Stu…