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Magnified US dollar bill

Atlantic Council Strategy Paper Series

May 20, 2025

Why the US cannot afford to lose dollar dominance

By Martin Mühleisen, Valbona Zeneli

Since World War II, US geopolitical influence has been compounded by the role of the dollar as the world’s dominant currency. As global economic power becomes more diffuse and strategic competitors “dedollarize,” policymakers must determine how to maintain the dollar’s role at the center of global trade and financial networks.

Economy & Business Fiscal and Structural Reform

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The Scowcroft Center for Strategy and Security works to develop sustainable, nonpartisan strategies to address the most important security challenges facing the United States and the world.

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U.S. President Donald Trump speaks at a campaign rally in Charlotte, North Carolina, U.S., March 2, 2020

Atlantic Council Strategy Paper Series

Jul 7, 2020

East Asian allies dismayed by America first approach

By Mathew Burrows, Peter Engelke

Absent a vibrant American commitment to helping its traditional East Asian allies restart their economy in the wake of the COVID-19 pandemic, China could step in, gaining influence in East Asia at the US's expense.

Coronavirus East Asia
EU flag flying under a cloud sky in Germany

Atlantic Council Strategy Paper Series

Jul 7, 2020

Another test for Europe

By Mathew Burrows, Peter Engelke

The third pan-European crisis in a decade could further weaken EU solidarity, further widening gaps between Northern Europe and the Mediterranean South. Europe is unlikely to retain a multilateralist framework without US assistance and acquiescence from China.

Coronavirus Europe & Eurasia
A worker works at a textile factory in Qingzhou city, east China's Shandong province, 18 March 2020.

Atlantic Council Strategy Paper Series

Jul 7, 2020

A step change in Sino-American relations

By Mathew Burrows, Peter Engelke

Bipartisan agreement that China is to blame for the COVID-19 pandemic, coupled with frustration that China is pulling out of the crisis before the US, could strengthen China's authoritarian tendencies while pushing the US toward isolationism.

China Coronavirus
A person wearing protective face mask in an empty Departure Hall at the Terminal 2E of the Paris Charles de Gaulle airport in Roissy, near Paris, France. United States President Donald Trump imposed a 30-day ban on travel from nearly all European countries

Atlantic Council Strategy Paper Series

Jul 7, 2020

US global leadership at risk

By Mathew Burrows, Peter Engelke

The post-COVID world represent a step-change in world order, pushing countries toward isolation and setting the stage for open conflict. The US could still change that outcome.

Americas Coronavirus
Empty shelves in a grocery store

Atlantic Council Strategy Paper Series

Jul 7, 2020

Prospects for the COVID-19 pandemic

By Mathew Burrows, Peter Engelke

The COVID-19 pandemic is not just a global health crisis. It could spark global recession, while undermining globalism, cooperation and multilateralism, ushering in a renewed era of authoritarianism, isolation and open conflict between global powers.

Coronavirus Economy & Business

Atlantic Council Strategy Paper Series

Jul 7, 2020

A global strategy for shaping the post-COVID-19 world

By Jeffrey Cimmino, Rebecca Katz, Matthew Kroenig, Josh Lipsky, Barry Pavel

The COVID-19 pandemic is an acute public health and economic crisis that is further destabilizing an already weakened rules-based international system. With cooperation, determination, and resolve, however, the United States and its allies can recover from the crisis and revitalize an adapted rules-based system to bring about decades of future freedom, peace, and prosperity.

China Coronavirus

Issue Brief

Jun 1, 2020

Executive summary: The virus and global order

By Jeffrey Cimmino, Matthew Kroenig, and Barry Pavel

The COVID-19 pandemic is having dramatic effects on everyday life, but its geopolitical implications could prove to be even more profound. The pandemic is exacerbating and unleashing pressure points in the global order, including intensified US-China competition, that could fundamentally reshape geopolitics.

China Coronavirus

Issue Brief

Jun 1, 2020

Taking stock: Where are geopolitics headed in the COVID-19 era?

By Jeffrey Cimmino, Matthew Kroenig, and Barry Pavel

The COVID-19 pandemic has stressed pressure points in the global order and threatens to unravel the rules-based international system. This paper examines the geopolitical implications of the pandemic by identifying key strategic shocks and tensions exacerbated by the virus. It also identifies uncertainties for the global order and provides policy recommendations for how the United States and its allies should address the pandemic.

China Coronavirus
Candle in the Dark Destruction Cole

Atlantic Council Strategy Paper Series

Dec 10, 2019

A candle in the dark: US national security strategy for artificial intelligence

By Tate Nurkin, Stephen Rodriguez

AI is expected to have a transformational impact on the future of geopolitics, defense, and security. In this fluctuating environment, where the US is engaged in a high-stakes competition with is near-peer adversaries, and AI is enabling paradigm-shifting changes in public and private sector operations, how should the US respond?

Artificial Intelligence China

Atlantic Council Strategy Paper Series

Oct 30, 2019

Present at the re-creation: A global strategy for revitalizing, adapting, and defending a rules-based international system

By Ash Jain, Matthew Kroenig

We need a new strategy—one that is both ambitious and innovative, geared towards meeting the challenges and opportunities that the new decade brings.

China NATO