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New Atlanticist

Apr 2, 2020

The United States’ stealth diplomat: The Federal Reserve

By Robert Dohner

In stepping forward to calm US financial markets, reactivate swap lines, and create the new foreign repo facility, the Fed has helped backstop the global economy. One may argue whether the United States is still the indispensable nation. What is clear is that, in a crisis, the Federal Reserve is the indispensable central bank.

Financial Regulation International Financial Institutions

New Atlanticist

Apr 2, 2020

Forging the Four Freedoms Initiative for prosperity and peace in the Balkans

By Marko Čadež

To demonstrate their readiness to fulfill the responsibilities associated with full-fledged membership in the world’s largest common market, the countries of the region launched the Western Balkans Four Freedoms Initiative to bring down barriers to intra-regional trade, travel, and labor movement. While not identical to Roosevelt’s plans, this project seeks to ensure the same outcome of peace and prosperity through liberty, opportunity, and growth.

International Markets Macroeconomics

New Atlanticist

Apr 1, 2020

Reconciling sanctions and humanitarian need during COVID-19

By Brian O’Toole

As the world economy shuts down to try to contain the COVID-19 outbreak, the humanitarian collateral effects of sanctions become more pronounced and potentially deadly. But the argument that the United States should unilaterally roll back sanctions draws a false dichotomy; sanctions do not have to be suspended or rolled back for the United States to better address humanitarian concerns.

Cuba Economic Sanctions

New Atlanticist

Apr 1, 2020

Cities “on the front lines” of the coronavirus crisis

By David A. Wemer

As the novel coronavirus (COVID-19) pandemic worsens and deaths increase around the world, national and local governments are racing to prepare their healthcare systems, infrastructure, and economies to weather the current storm. “The world writ large was not adequately prepared to see what has come,” former New Orleans Mayor Mitch Landrieu said on April 1, adding that now it is up to mayors and local officials who “are really on the frontlines,” to take action to protect their citizens.

Coronavirus Resilience

New Atlanticist

Apr 1, 2020

The coronavirus economic crisis: Supporting the weak links

By Hung Tran

In the present pandemic crisis, major countries have moved more quickly, offering more substantial monetary and fiscal support packages, including better targeted programs than in 2008-09. The challenge now is to quickly deliver the help to the weak entities which need liquidity the most. After all, any system is only as strong as its weakest link.

Coronavirus International Financial Institutions

New Atlanticist

Apr 1, 2020

The battle for 5G leadership is global and the US is behind: The White House’s new strategy aims to correct that.

By John T. Watts

The West has fallen behind in the competition for leadership of the 5G transition, a reality that has huge economic implications and also risks the West facing the reality of a global telecommunications backbone that not only has serious security flaws, but is also shaped by political values incompatible with our own. A new White House strategy aims to close the 5G transition gap.

Defense Technologies Internet

New Atlanticist

Apr 1, 2020

Europe needs a quick economic coronavirus response: The ESM can provide it

By Bart Oosterveld

A rapid and flexible deployment of the €410 billion lending capacity of the European Stability Mechanism (ESM) is urgently needed to support the policy initiatives launched to combat the coronavirus crisis throughout Europe. The sooner the Eurogroup of finance ministers can return to something akin to this sensible compromise position suggested by its President Mario Centeno last week, the better.

Coronavirus European Union

New Atlanticist

Mar 31, 2020

Europe’s economic emergency is also a geopolitical one

By Benjamin Haddad and Josh Lipsky

European leaders are deciding the future of European power on the world stage. If Europeans can’t ensure solidarity with each other after so much pain and sacrifice, it will not only be a devastating loss for Europe. It will also be a blow to a world looking for the political shape of a post-coronavirus world.

Coronavirus European Union

New Atlanticist

Mar 31, 2020

China’s ineffective coronavirus response could create its own Black Swan

By Chang-Ching Tu

At this time of increasing uncertainty, the Chinese Communist Party is facing a severe test of its ability to prevent coronavirus from becoming a “black swan” that severely impacts its political stability and security.

China Coronavirus

New Atlanticist

Mar 31, 2020

South Asia’s economic outlook in the era of COVID-19

By South Asia Center

Experts from the Atlantic Council’s South Asia Center analyze the current efforts of these governments and the potential economic consequences of the coronavirus pandemic on South Asia:

Bangladesh Coronavirus