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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
Reimagining American Economic Leadership
Trade-offs in the Desert: RealEcon Visits Arizona
From semiconductors and water conservation to mining and the clean energy transition, Arizona is balancing trade-offs that will have important lessons for the country.
Trade Offs
A regular series on the choices faced by international economic policymakers
How to Grapple With “the New Washington Consensus”
Featured Analysis From RealEcon
Exploring three key areas of international economic policy: trade and investment, development, and economic security, i.e., technology controls, supply-chain-resilience measures, and other policies to reduce risk to the economy or national security
Trade and Investment
Development
RealEcon Welcomes Assistant Administrator Michael Schiffer to discuss USAID Priorities in the Indo-Pacific
Event with Michael Schiffer and Matthew P. Goodman
The Millennium Challenge Corporation at 20: Progress and Prospects
Event with Alice P. Albright, Gary R. Edson, Lynn Raymond Young, and Matthew P. Goodman
The Truth About Africa's "Debt Crisis"
Blog Post by Ebenezer Obadare
Economic Security
Trade Protection Without Trade Promotion: Why Tightening Trade Rules Alone Would Not Strengthen U.S. Economic Security
Article by John Taishu Pitt
The Time Is Right for Ally-Shoring, and It’s About More Than Being Friends
Article by John Austin and Elaine Dezenski
The United States Should Steer Toward Better Automotive Data Privacy
Article by Kat Duffy and Kyle Fendorf
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As Global Debt Explodes, China’s Central Bank Is Fueling and Obscuring It
China is using its central bank to prop up current and prospective Belt & Road clients. In the process, it is fueling and obscuring poorer-country debt problems.
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A Taxonomy of Sovereign Wealth Funds
Everyone seems to want a sovereign wealth fund these days. Even countries that have more sovereign debt than sovereign wealth are hot on the idea. It’s a hot topic. Over time, less and less of the growth of the foreign assets of the world’s governments has taken the form of traditional FX reserves, and more and more has taken the form of swelling sovereign wealth funds (see the chart below).
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China’s Imaginary Trade Data
China has a new way of calculating its good surplus in its formal balance of payments data. It is a deeply misleading. It also explains the apparent fall in the current account account surplus.
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Defensive protectionist measures should be balanced with offensive trade promotion, ensuring access to global markets and competitiveness with China in the Indo-Pacific.
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The long-standing surplus in the U.S. investment income account, often cited as evidence of “exorbitant privilege,” is receding. It already goes away without the income from profit-shifting by U.S. multinationals.
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From semiconductors and water conservation to mining and the clean energy transition, Arizona is balancing trade-offs that will have important lessons for the country.
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This op-ed was originally published by The Detroit News online on October 20, 2024 and in print on October 21, 2024. As Americans get ready to head to the polls, no issue is more central to their…
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With the developing world’s growing use of costly and opaque “payday loans” from China’s central bank, the IMF and World Bank need to demand far greater transparency from Beijing.
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The Bipartisan Infrastructure Deal and the CHIPS and Science Act stand to transform U.S. infrastructure for decades to come. Policymakers should look to the successes and failures of the 1956 act that established the interstate system for guidance.
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The CFR RealEcon: Reimagining American Economic Leadership initiative looks to assess the role of the United States in the international economy, analyze what is at stake for the American people, and identify the trade-offs in different policy approaches. As part of this effort, the initiative seeks to understand the domestic preconditions for robust U.S. international economic engagement and explore relevant domestic policies. Panelists discuss policy-reform ideas to address the sources of inequality, which were featured in their recent piece for RealEcon, “Toward a More Prosperous, Less Polarized, Worker-Friendly Economy.” For those attending virtually, log-in information and instructions on how to participate during the question and answer portion will be provided the evening before the event to those who register. Please note the audio, video, and transcript of this meeting will be posted on the CFR website.
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In my new paper published by the Aspen Economic Strategy Group, I highlight the persistence of unhealthy globalization and lay out some proposals for a more sustainable regime.
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As the global economy realigns, the next U.S. president should formalize a liberal economic bloc of allied countries to stand up against authoritarian rivals.
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Laws meant to insulate domestic companies from foreign transactions are often implemented with little regard to the ensuing domestic costs. Those costs could undermine the national security goals of the laws.
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To stay competitive, the United States will need to strengthen and diversify the sources of its talent in STEM fields.
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The United States is witnessing a boom in manufacturing investment, stimulated by massive government subsidies, but the skilled workforce necessary to support it is severely lacking.