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The US must lead with allies or risk becoming a bystander in a reshaped international financial system. As the global economy struggles to recover from COVID-19 and rising powers like China assert economic influence, this mission is critical to the long-term prosperity of the United States and its allies. Strong collaboration between the public and private sectors can help revitalize open markets for the twenty-first century.

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New Atlanticist

Aug 15, 2011

New Iran Sanctions Could Bring Unintended Blowback

By Barbara Slavin

A new Congressional push to sanction Iran’s Central Bank is aimed at reducing Iranian oil revenues, but could backfire and hurt the global economy. On Tuesday, the Wall Street Journal disclosed a letter to the White House signed by 92 senators urging the Barack Obama administration to place new restrictions on dealings with the bank […]

Economy & Business Iran

New Atlanticist

Aug 12, 2011

The Bullets Yet to be Fired to Stop the Crisis

By Kenneth Rogoff

Four years into the financial crisis, it is becoming increasingly clear that the biggest deficit is not in credit, but credibility. Markets can adjust to a downgrade of global growth, but they cannot cope with a spiralling loss of confidence in leadership and a growing sense that policymakers are disconnected from reality. What needs to […]

Economy & Business European Union

New Atlanticist

Aug 10, 2011

US Debt Downgrade

By Hugh De Santis

Standard & Poor’s downgrade of US sovereign debt is bound to weaken America’s financial standing in the world. Because no other country is in a position to supplant the US as the anchor of the international financial system, its reduced economic status may be temporary. The downgrade also signals the end of America’s infatuation with […]

Economy & Business United States and Canada

New Atlanticist

Aug 10, 2011

Swiss Franc: Alternative to Dollar and Euro?

By Max Hirsch

With the dollar and euro reeling, the Swiss franc became a popular destination for investors looking for a more stable currency.

Economy & Business

New Atlanticist

Aug 6, 2011

Life in the AA+ League: What a Debt Downgrade Means to You

By Alexei Monsarrat

How bad is it going to be with a AA+ credit rating?  The answer to that question depends on what you’re concerned about.  The economy: If you’re worried that economic ruin is now upon us, then you can breathe easy (for now).  Traders and economists broadly agree that the impact on borrowing rates for the U.S. […]

Economy & Business United States and Canada

New Atlanticist

Aug 6, 2011

S&P Downgrades USA; Time to Downgrade S&P?

By James Joyner

Standard & Poor’s judges that the American political system is a mess and that there should be long-term concern about its public debt. It’s hard to argue with that. But would investors really be better off buying Liechtenstein’s bonds than America’s? On what basis? S&P says the downgrade “reflects our opinion that the fiscal consolidation plan that […]

Economy & Business United States and Canada

New Atlanticist

Aug 6, 2011

Crisis? What Crisis? How to Save a Debt-Drowning Planet

By Julian Lindley-French

In late 1979, with the public service unions on strike and with the national debt spiraling out of control, Britain began to resemble a toilet. Prime Minister Jim Callaghan returned from a ‘summit’ in Guadeloupe (they never seem to hold summits in Rotherham or Detroit). The Sun, one of Britain’s Murdoch tabloid newspapers, famed for […]

Economy & Business

New Atlanticist

Aug 4, 2011

The European Union’s Fort Sumter Moment

By Sarwar Kashmeri

In 1776, the founding fathers of the United States made a grand bargain to ensure the birth of a new republic. They agreed to sideline the new country’s black population, even though the Constitution they were about to endorse proclaimed that all men are created equal. This compromise ensured approval of the constitution and the […]

Economy & Business European Union

New Atlanticist

Aug 4, 2011

Unthinkable is Reality

By Arnaud de Borchgrave

The nail-biting, cliff-hanger produced something that didn’t pass mental math. To raise America’s $14.3 trillion federal debt ceiling hours ahead of Tuesday’s deadline by $2.4 trillion in two stages while committing to equal spending cuts over 10 years — still with me? — was more fool’s bargain than bargain basement. The complete collapse of the […]

Economy & Business United States and Canada

New Atlanticist

Aug 2, 2011

Fiddling Whilst the West Fails: The Great Globalisation Disaster

By Julian Lindley-French

“Forget these frivolous demands which strike a terror to my fading soul”. So Mephistopheles beseeches Marlowe’s Dr Faustus. With American politicians not so much debating whether or not to sell America’s soul, but for what price, the most profound of strategic questions is now apparent. For how long does the West support a system of […]

Economy & Business

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