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2. Unpacked: New trade tariffs and the U.S. economy
- Author:
- Eswar Prasad
- Publication Date:
- 01-2018
- Content Type:
- Video
- Institution:
- The Brookings Institution
- Abstract:
- Brookings Senior Fellow Eswar Prasad unpacks the impact of the new steel and aluminum tariffs proposed by the Trump administration. He explains that the new tariffs have undermined America’s leadership as proponents of free trade and will decrease America’s economic influence across the globe.
- Topic:
- International Political Economy
- Political Geography:
- America
3. The new dynamics of global energy and climate
- Author:
- Rachel Kyte
- Publication Date:
- 11-2018
- Content Type:
- Video
- Institution:
- The Brookings Institution
- Abstract:
- On the heels of a major new report from the Intergovernmental Panel on Climate Change on the rising risks of climate impacts, on November 19th Brookings hosted Rachel Kyte, CEO of Sustainable Energy for All, in conversation with David G. Victor.
- Topic:
- Climate Change, International Political Economy, and Climate Finance
- Political Geography:
- Global Focus
4. Responding to the Global Financial Crisis
- Author:
- Brookings Institute
- Publication Date:
- 09-2018
- Content Type:
- Video
- Institution:
- The Brookings Institution
- Abstract:
- Ten years after the lowest moments of the worst financial crisis and deepest recession in generations, former Federal Reserve Chairman Ben Bernanke and former Treasury Secretaries Tim Geithner and Hank Paulson—chief architects of the rescue that prevented a repeat of the Great Depression—look back and look ahead in an interview conducted by Andrew Ross Sorkin of the New York Times and CNBC.
- Topic:
- International Political Economy
- Political Geography:
- Global Focus
5. Closing the financing gap for African energy infrastructure: Trends, challenges, and opportunities
- Author:
- Amadou Sy and Amy Copley
- Publication Date:
- 04-2017
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- Lack of energy access presents a formidable, but not insurmountable, challenge to African development. Energy poverty afflicts nearly 620 million people in Africa, limiting economic opportunities and creating health risks through the use of low-cost, alternative energy sources, such as wood fuel (IEA 2014). Without access to secure, reliable sources of electricity, households, businesses, schools, and hospitals cannot operate effectively, reducing quality of life and restricting human capital. As acknowledged in the global sustainable development agenda, addressing these energy needs is fundamental to achieving economic and human development objectives. African governments and their partners in the private sector and international development community have taken this to heart as can be seen by the growing policy attention and resources they are allocating to the continent’s energy sector.
- Topic:
- International Political Economy, Global Markets, and International Development
- Political Geography:
- Africa
6. Why trade facilitation matters now more than ever
- Author:
- Antoni Estevadeordal
- Publication Date:
- 04-2017
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- On February 22, 2017, the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) entered into force. The TFA was concluded at the WTO Bali Ministerial Conference in 2013. Since then, countries have been working on implementing the agreement in their domestic markets to reach the two-thirds requirement for implementation.[1] As of March 2017, 113 members (or 69 percent of WTO members) have ratified the agreement—including 19 Latin American and Caribbean (LAC) countries—and another 93 countries have notified the WTO of their timeline for each TFA provision, giving a comprehensive picture of the state of the agreement.
- Topic:
- International Political Economy and International Trade and Finance
- Political Geography:
- Global Focus
7. Addressing the accelerating labor market dislocation from digitalization
- Author:
- Roger Burkhardt and Colin I. Bradford Jr.
- Publication Date:
- 03-2017
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- In this policy brief, we highlight the impact of the speed and the scale that digital innovation will have in disrupting labor markets in the future, which requires anticipating policy responses now. We advocate for the formation of new social partnerships between business, labor, governments, financial institutions, and social stakeholders to forge comprehensive policy responses to address the coming social impact of technological change. This brief was used at the VISION 20 Workshop held at the Brookings Institution on February 27, 2017 to help generate new “big picture” policy approaches for the German G-20 Summit in Hamburg in July. The workshop was sponsored by the University of British Columbia Institute for Asia Research, the Munk School at the University of Toronto, the Boell Foundation, and the Friedrich Ebert Stiftung with the participation of the Kiel Institute for the World Economy and the German Development Institute.
- Topic:
- International Political Economy and International Development
- Political Geography:
- Global Focus
8. Unpacked: US NAFTA renegotiations
- Author:
- Joseph Parilla
- Publication Date:
- 09-2017
- Content Type:
- Video
- Institution:
- The Brookings Institution
- Abstract:
- Brookings Fellow Joseph Parilla discusses the renegotiation of NAFTA 25 years after its creation and explains the importance of NAFTA to the U.S. economy at both the national and local level.
- Topic:
- International Political Economy and International Affairs
- Political Geography:
- America and Global Focus
9. The Trans-Pacific Partnership The politics of openness and leadership in the Asia-Pacific
- Author:
- MIREYA SOLIS and Mireya Solis
- Publication Date:
- 10-2016
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Trade policy, and the Trans-Pacific Partnership (TPP) in particular, is vitally connected to the national interests of prosperity, security, and governance. With novel rules on the digital economy, high tariff elimina- tion targets, and disciplines to address behind-the-border protectionism, the TPP creates opportunities for American sectors that enjoy competitive strength—services, advanced manufacturing, agriculture—to expand their reach in overseas markets. Projected annual income gains from this trade deal range between $57 billion and $131 billion by 2032, compared to a base- line scenario. In sharp contrast to the experience of import competition with China, the TPP will not impose large adjustment costs in terms of employment and wages, generating instead a net (albeit small) positive effect on job creation and wage rates. However, the individual costs for displaced employees are very high, and the contours of a new pro-adjustment safety net that enables workers to navigate difficult economic transitions (brought about by technological change or trade) are highlighted below.
- Topic:
- Globalization, International Political Economy, and International Trade and Finance
- Political Geography:
- America and Asia-Pacific
10. China’s Global Rise Can the EU and U.S. Pursue a Coordinated Strategy?
- Author:
- Philippe Le Corre and Jonathan Pollack
- Publication Date:
- 10-2016
- Content Type:
- Special Report
- Institution:
- The Brookings Institution
- Abstract:
- China’s emergence as a global economic power and its fuller integration in the international order are among the principal policy challenges facing Europe and the United States in the early 21st century. At the time of Beijing’s entry into the World Trade Organization (WTO) in 2001, China (though already growing rapidly) was in global terms an economic actor of limited consequence. A decade and a half later, China’s transformation is without parallel in economic history. Over the past 15 years, China has experienced an eightfold increase in GDP, enabling it to serve as the pri- mary engine of global economic growth in the early 21st century. It has leapfrogged from sixth to second place among the world’s economies, trail- ing only the United States in absolute economic size. In addition, China has become the world’s leading trading state and is now the second largest source of outward foreign direct investment. Change of this magnitude has enhanced China’s political power and eco- nomic leverage. It has also stimulated China’s internal economic evolution, simultaneously expanding the power of state-owned enterprises (SOEs) while also contributing to major growth in the private sector. China has also begun to think bigger, devoting increased attention to the rules of global economic governance. Although Beijing insists it has no intention of supplanting the existing international order, China contends that chang- ing power realities will require modification of global rules.
- Topic:
- International Cooperation, International Political Economy, and Geopolitics
- Political Geography:
- China, America, and Europe
11. A Framework for U.S. Policy toward China
- Author:
- Jeffrey Bader
- Publication Date:
- 03-2016
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Serious people understand that the manner in which the United States deals with China will be a critical, if not the critical, overseas chal- lenge for the United States in the 21st century. China will likely be the largest economy in the world within one or two decades; the second or third strongest military soon, if not already; and competitive with the United States and Europe in global economic, and perhaps political and cultural, influence in some regions. China is ruled by a Communist Par- ty resistant to political liberalization at home and wedded to nationalist rhetoric and behavior in dealing with its neighborhood, enhancing the chances for rivalry with the United States. For those students of history who see conflict as the likely outcome when ris- ing powers encounter dominant powers, these are precursors of a dark future. How should we deal with China? What policy framework best optimizes our interests, which are multiple and not always consistent with each oth- er? Americans are in the midst of an ongoing presidential campaign that, in a better world, would be asking and answering such questions, but this is not such a campaign.
- Topic:
- International Relations, Foreign Policy, and International Political Economy
- Political Geography:
- China and America
12. A New Agenda for Education in Fragile States
- Author:
- Rebecca Winthrop and Elena Matsui
- Publication Date:
- 08-2013
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- In the 13 years since the dawn of the new millennium, significant progress has been made in addressing some of the world's most important problems. One billion fewer people live in extreme poverty, 3 million children's lives are saved annually and 610 million children in developing countries are enrolled in primary school, more than ever before. However, this progress has not been shared evenly around the globe. Populations affected by weak systems of governance and that suffer violence and disasters have systematically been left behind. They are much less likely to enjoy progress vis-à-vis any of the United Nations' Millennium Development Goals (MDGs), which include eradicating extreme poverty and hunger, improving children and women's health, and enrolling children in school. No country classified as a “fragile state,” for example, has met all eight of the MDGs. Children born in low-income, conflict-affected countries are twice as likely to die before the age of five years, twice as likely to lack access to clean water and more than three times as likely to not attend school than children living in peaceful, low-income countries. People living in poverty, many of whom are affected by conflict, are more vulnerable to the effects of climate change and disasters. Children are especially affected, and those from the poorest families are up to 10 times more likely to bear the brunt of environmental disasters linked to climate change.
- Topic:
- Conflict Resolution, Development, International Political Economy, Peace Studies, Foreign Aid, and Peacekeeping
- Political Geography:
- United Nations
13. Thresholds in the Process of International Financial Integration
- Author:
- Eswar Prasad, M. Ayhan Kose, and Ashley D. Taylor
- Publication Date:
- 05-2009
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration. Indeed, a new literature proposes that the indirect benefits of financial integration may be more important than the traditional financing channel emphasized in previous analyses. A major complication, however, is that there seem to be certain “threshold” levels of financial and institutional development that an economy needs to attain before it can derive the indirect benefits and reduce the risks of financial openness. In this paper, we develop a unified empirical framework for characterizing such threshold conditions. We find that there are clearly identifiable thresholds in variables such as financial depth and institutional quality—the cost-benefit trade- off from financial openness improves significantly once these threshold conditions are satisfied. We also find that the thresholds are lower for foreign direct investment and portfolio equity liabilities compared to those for debt liabilities.
- Topic:
- Development, Economics, Globalization, International Political Economy, and International Trade and Finance
14. The International Monetary Fund and the World Bank: It's Time to Separate the Conjoined Twins
- Author:
- Lex Rieffel
- Publication Date:
- 09-2008
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- The IMF and the World Bank were created in 1944 to be at the center of the international financial system, but they have not adapted well to the far- reaching changes in the global economy over the past twenty years. Their legitimacy has been called into question due to their antiquated governance structures, and as a consequence they are losing relevance and effectiveness.
- Topic:
- Economics, International Organization, International Political Economy, International Trade and Finance, and International Monetary Fund
15. Can America Still Lead in the Global Economy?
- Author:
- Lael Brainard and David Lipton
- Publication Date:
- 08-2008
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- From the vantage point of 2008, some of the most memorable initiatives of U.S. international economic leadership—the Paris and Louvre Accords, the support for Poland and Russia after the fall of communism, the Uruguay Round, and the Mexican Financing Loan—seem like quaint reminders of a simpler time. In the coming years, the exercise of international economic leadership will surely prove more complex than in the past. The very success of the American vision of a global spread of vibrant and competitive markets has created a huge, rapidly integrating private economy of trade and finance much less amenable to guidance, let alone control, by governments. Unlike in diplomacy and defense, where non state actors are growing in importance but still a side show, in inter- national economics, households, corporations, labor unions, and non-profits are now the dominant players in most parts of the world. While they respond to national laws and policies, their interests are varied and their operations often span borders.
- Topic:
- Economics, International Political Economy, International Trade and Finance, and Markets
- Political Geography:
- Russia, United States, Paris, Poland, Uruguay, and Mexico
16. Global Governance Breakthrough: The G20 Summit and the Future Agenda
- Author:
- Johannes F. Linn, Colin I. Bradford, and Paul Martin
- Publication Date:
- 12-2008
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- At the invitation of President George W. Bush, the G20 leaders met on November 15, 2008, in Washington, DC, in response to the worldwide financial and economic crisis. With this summit meeting the reality of global governance shifted surprisingly quickly. Previously, major global economic, social and environmental issues were debated in the small, increasingly unrepresentative and often times ineffectual circle of G8 leaders. Now, there is a larger, much more legitimate summit group which can speak for over two-thirds of the world's population and controls 90% of the world's economy.
- Topic:
- Environment, Globalization, Government, International Cooperation, International Political Economy, and International Affairs
17. Reform of Quota and Voting Shares in the International Monetary Fund: "Nothing" Is Temporarily Preferable to an Inadequate "Something"
- Author:
- Ralph C. Bryant
- Publication Date:
- 01-2008
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- A prosperous, stable world economy is in the self interest of every nation—large or small, rich or poor. The International Monetary Fund (IMF) is a worldwide intergovernmental institution that can facilitate that prosperity and stability. Because every nation has a stake, each should participate in the IMF's governance and operations. The value to each nation of an effective IMF increases as the world economy and financial system become more integrated.
- Topic:
- Development, Economics, International Organization, and International Political Economy
18. China and Southeast Asia: The Difference of a Decade
- Author:
- Catharin Dalpino and Juo-yu Lin
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Over a span of several years, China's relations with the nations of Southeast Asia have shifted in quiet increments. The accumulated effect, however, has been profound. A concerted diplomatic effort to woo countries of the Association of Southeast Asian Nations (ASEAN), which now includes all countries in the region excepting East Timor, has reaped multiple benefits for Beijing. It is beginning to alter the political balance in the region as alignments with extra-regional powers are shifting, however subtly. In some aspects, the change is more dramatic. Economic relations have expanded rapidly; for example, trade between China and Southeast Asia is seventeen times larger today than it was twenty-five years ago.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- China, Beijing, Asia, and Southeast Asia
19. Cross-Strait Relations: A Time for Careful Management
- Author:
- Richard Bush
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- On the face of it, relations between China and Taiwan have improved significantly since the saber-rattling of 1999 and 2000. Economic relations have never been better. Two-way trade is around $40 billion annually, and the Mainland has become Taiwan's largest export market, displacing the United States. Taiwan companies continue to invest in the PRC at record rates, in order to keep their products competitive through cheaper Chinese labor. The product mix of Taiwan factories on the mainland is shifting from items like shoes and toys to high-end goods like semi-conductors and notebook computers. As machinery moves, so do people, and the number of Taiwan people living most of the time in the PRC is hundreds of thousands. With this growing economic interaction come shared interests and better mutual understanding. Neither side would benefit from conflict, and both know it. The chance of growing tensions seems low.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- United States, Taiwan, and Asia
20. The Second Term of Chief Executive Tung Chee-hwa: The Dual Problems of Performance and Capacity
- Author:
- Wilson Wong
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- In the more than five years since Hong Kong returned to Chinese sovereignty, it has suffered economical, social, and political decline. The root cause of this decline, and the key variable for the next five years, is institutional weakness. Specifically, the Hong Kong government must address the dual problems of poor performance and low capacity in order to reverse the decline and get Hong Kong back on track for economic growth and institutional development.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- Asia
21. Japanese Economic Stagnation: Still in Neutral
- Author:
- Edward Lincoln
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- One of the discouraging problems in Northeast Asia over the past decade has been the lengthy malaise in the Japanese economy and the inability of government, business, and the public to forge effective solutions. In the decade since 1992, the average annual real (inflation-adjusted) economic growth rate has been only one percent—positive but very low and punctuated by four recessions in which gross domestic product (GDP) fell for at least two consecutive quarters. The financial sector is weighed down under an enormous amount of non-performing loans that has only grown larger over time. Meanwhile, Japan has become the first industrial country since the 1930s to experience deflation—a decline in the overall price level.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- Japan, Asia, and Northeast Asia
22. Chinese State, Chinese Society: Facing a New Century
- Author:
- Jae Ho Chung and Zhang Ye
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- The Sixteenth Congress of the Chinese Communist Party (CCP) was convened during November 8-15, 2002. The Congress reconfirmed the Party's strong commitment to the three key tasks of achieving modernization, accomplishing national unification, and safeguarding world peace and development. The outgoing CCP General Secretary Jiang Zemin, on behalf of the Fifteenth Central Committee, emphasized the need for further political changes at the grassroots and presented the target of quadrupling China's gross domestic product (GDP) by 2020. Jiang also projected that China's armed forces would possess fewer but better troops “ with Chinese characteristics. ”
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- China and Asia
23. Crisis on the Korean Peninsula
- Author:
- Richard Bush, Dean Nowowiejski, and Tomatsu Nakano
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Most signs during the late summer and early fall of 2002 pointed to progress on the Korean peninsula. North Korean leader Kim Jong Il had finally grasped, it appeared, the need for international moderation and domestic reform. The United States seemed ready to respond in kind. But with the visit to Pyongyang in October of U.S. Assistant Secretary of State James Kelly – the first high-level contact since the Bush Administration came into office – the situation quickly unraveled. Instead of offering the “bold initiative” that was reportedly in the works, Kelly confronted his interlocutors with evidence that their government had mounted a new, clandestine uranium-based nuclear program. The North Koreans refused to disavow the program and insisted on their right to nuclear weapons. Kelly responded that the United States would not engage the DPRK unless and until it abandoned the program. The status of the 1994 U.S.-DPRK Agreed Framework, which had capped North Korea's plutonium-based program in return for international assistance in meeting its civilian energy needs, was uncertain at best. The Korean Peninsula Energy Development Organization (KEDO), the mechanism for providing that aid, stopped heavy fuel oil shipments to North Korea at the end of 2002 at American insistence.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- United States, Asia, Korea, and Sinai Peninsula
24. Brookings Northeast Asia Survey, 2002-03
- Author:
- Catharin Dalpino and Richard Bush
- Publication Date:
- 04-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- This is the third edition of the Northeast Asian Survey, sponsored by the Center for Northeast Asian Policy Studies of the Brookings Institution. Following this review of developments in the region during 2002, the bulk of the volume is composed of essays that provide mid-term perspectives on internal dynamics in China, Hong Kong, and Japan, on the crisis on the Korean peninsula, and on relations between China and Taiwan and on China and Southeast Asia. All the authors have been affiliated with the Brookings Institution during the 2002-03 year. Most were CNAPS Visiting Fellows or Brookings Federal Executive Fellows.
- Topic:
- Economics, International Political Economy, and International Trade and Finance
- Political Geography:
- China, Taiwan, Asia, Southeast Asia, Hong Kong, and Northeast Asia
25. Heterogeneity and Evolution of Expectations: a Model of Currency Crisis
- Author:
- Jasmina Arifovic and Paul Masson
- Publication Date:
- 12-1999
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- A model of a portfolio allocation between mature and emerging markets is simulated with heterogeneous expectations, imitation, and experimentation. Solutions produce periodic crises. The predictions of the model are compared to a representative-agent, rational expectations model with multiple equilibria.
- Topic:
- Economics, International Political Economy, and International Trade and Finance