Global Business & Economics Program

  • America and the World After Bush: Economics and Globalization

    On Barack Obama's second day in office, the Bush administration is fast fading into memory.   As accidental tax evader Timothy Geithner prepares to take over at Treasury in an administration where transparency and the rule of law will be touchstones, it's an excellent time to begin looking at the global economy.

    To do that, we'll once again turn to Thomas Barnett's forthcoming book Great Powers: America and the World After

    ...

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  • Stimulus Has its Limits (But We Don't Know What They Are)

    Fed chair Ben Bernanke's gave a speech yesterday at the London School of Economics which noted that, while "more capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets," other tools will need to be deployed.


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  • Taxing Credit Default Swaps

    STOCK - Financial Crisis

    It is common wisdom that the incoming administration cannot possibly increase government tax revenues in these horrific economic conditions.  However, this common wisdom is simply wrong. 

    There is a major new source of revenue available to the government – the shadow financial system. 


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  • Chinese Wisdom on the Financial Crisis

    Chinese Wisdom on the Financial Crisis

    James Fallows in this month’s Atlantic brings a Chinese view to the global financial crisis and planned U.S. economic stimulus plans. Based on an interview with the President of the China Investment Corporation, Gao Xiquing, China offers some words of wisdom to the incoming Obama administration as it attempts to restart the U.S. economy—be nice; remember your pragmatism; and live within our means. 


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  • Big 3 Bailout: View From Europe

    News that Senate Republicans killed the bailout of the Big 3 U.S. auto companies has set stocks tumbling around the world. In the major European papers available in English, we're seeing headlines like "World markets slump as US car industry bail-out fails" (Guardian), "US car industry set to collapse as bailout fails" (Times of London)


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  • China on a Diet as Consumption Drops?

    Figures published Wednesday on China's economy show the country doing worse than the World Bank previously anticipated, boding poorly for China's chances of avoiding the global downturn as well as for the West's hopes of possible bailout assistance from Asia


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  • What to Expect from the G20 Summit

    Tomorrow, leaders of the top industrialized countries and the key emerging economies that make up the G20 will meet in Washington for a Global Economic Summit. This meeting is a critical first step towards international coordination in addressing the current financial crisis. The agenda will include topics ranging from the rewriting of specific financial regulations to the restructuring of global institutions such as the G8 and the IMF. Although expectations are low for any major agreement at this meeting, it must at least set the agenda for further high-level economic conferences expected once the new U.S. administration is in place.


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  • Russia and $50 Oil

    Russia Oil Tanks

    Oil prices have plummeted in recent weeks, hitting a 20-month low of $59 per barrel, a 60 percent drop-off from its summer high of $147.  One might reasonably think that this would be crippling to a country like Russia, which relies so heavily on energy exports to stake its claim to major power status. 

    The Troika Dialog team, though, argues that it's much more complicated than that.


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  • Asian Integration into the Global Financial Leadership

    World Economic Forum

    As almost everyone now agrees, recovery from what promises to be a protracted global recession will require a multilateral effort.   In an increasingly interconnected world, the politics of mutualism, as I have written elsewhere, will force developed as well as emerging countries to rely on each other.


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  • Financial Crisis: What Doesn't Kill Us Makes Us Stronger?

    The New Dollar Bill

    Martin Wolf, the chief economics commentator at the Financial Times, told an Atlantic Council audience earlier today that the global financial crisis has  "re-emphasized the centrality of the U.S. dollar as a currency" and demonstrated once again that "when things go really badly lots of people want go to the U.S. even if U.S. is why, even in part, things are going so badly."


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