Internationalizing the renminbi would make sense as the outcome of a long-term process of opening up capital markets and liberalizing exchange and interest rates, but it should not be driving near-term policy choices that must respond to cyclical market shifts.
Despite failing to foresee the largest financial crisis since the Great Depression, leaders in the field still fail to look for wisdom beyond economy’s bounds.
From Russia to your local gas station, the consequences of low fuel prices are clear. But the consequences of those consequences are less apparent.
The Internet’s promise of open access to independent and diverse sources of information is a reality mostly for the minority of humanity living in mature democracies.
The world is about to discover that the substantial and totally unexpected drop in the price of crude oil may be as disruptive as the shock of oil price hikes in 1974.
Agricultural production is at record levels—and that could make the planet less stable.
China’s economy is in for a bumpy ride. But if Chinese leaders implement the right macroeconomic policies and structural reforms, the challenges should be manageable.
In many countries, wealth grows more as a result of thievery and malfeasance than as a consequence of the returns on capital invested by elites.
Inequality became the lightning rod that it is today only when wealth and incomes became as concentrated in the United States as they have been in other highly unequal countries.
Those in power today are more constrained in what they can do with it and more at risk of losing it than ever before.
The Geoeconomics and Strategy Program seeks to promote and provoke collaboration and debate among experts in national security strategy, foreign policy, and international economic policy, in order to enhance understanding of: 1) the use of economic instruments to promote geopolitical goals; 2) the development of national security strategy and foreign policy to advance national economic interests and the stability of the global economy; and 3) the future of the international political and economic order.