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April 12, 2024

China
China’s New Currency Peg

The peg that shall not be named, and all the trouble that creates.

China’s New Currency Peg

March 10, 2024

China
China’s Record Manufacturing Surplus

The U.S. likes talking about the dominance of the dollar. But don’t short-change China’s current dominance of manufacturing trade. Trade imbalances need to be taken seriously again.

Manufactured Goods Surpluses

February 27, 2024

Asia
Taiwan’s 2024 Election Outcomes: Balancing Domestic Challenges and International Relations

This blog post originated from a recent discussion by Professor Syaru Shirley Lin in the Winston Lord Roundtable Series on Asia, the Rule of Law, and U.S. Foreign Policy, where she debriefed the rece…

Taiwan President-elect Lai Ching-te, of Democratic Progressive Party's (DPP) gestures as he attends a rally following the victory in the presidential elections, in Taipei, Taiwan January 13, 2024.

February 23, 2024

Sanctions
Two Years of War in Ukraine: Are Sanctions Against Russia Making a Difference?

The United States and its allies have imposed broad economic penalties on Russia over its war in Ukraine. As the conflict continues, experts debate whether the sanctions are working.

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…

February 5, 2024

China
China’s New Currency Playbook

China’s pivot to a new strategy of indirect intervention through its large state banks requires new approaches to policing currency policies by both the U.S. Treasury and IMF.

Settlement by banks in China vs. Yuan-Dollar Exchange Rate

February 1, 2024

Russia
Mobilizing Russia’s Immobilized Reserves

A quick note on the debate over the use of Russia’s frozen reserves.

Euro banknotes at a money exchange office.

January 17, 2024

Technology and Innovation
The Crypto Question: Bitcoin, Digital Dollars, and the Future of Money

The dizzying rise of bitcoin and other cryptocurrencies has created new challenges for governments and central banks. Increasing popularity and high levels of market volatility have raised the stakes…

A technician inspects the backside of a bitcoin mining operation in Quebec, Canada.

January 11, 2024

Taiwan
Virtual Media Briefing: Elections in Taiwan

Panelists discuss the upcoming elections in Taiwan to select a new president and legislature. STARES: Thanks very much, Emily. Good day, everyone. Welcome to this Council on Foreign Relations brie…

Play Individual casts ballot for legislative elections in Taipei

December 20, 2023

China
China: Year in Review 2023

A review of the most significant events in China in 2023, and a look ahead to the most pressing challenges and uncertainties the country will face in 2024.

Chinese President Xi Jinping waves as he walks with U.S. President Joe Biden at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, November 15, 2023.