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231. U.S. Foreign Exchange Policy—Currency Provisions and Trade Deals

Author:
Mark Sobel
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
The Barack Obama administration’s efforts to secure Trade Promotion Authority (TPA), in conjunction with advancing the Trans-Pacific Partnership (TPP), brought into focus a congressional push to associate currency provisions with U.S. trade agreements. Since that time, discussions on the association of currency provisions with trade deals have gained momentum and become a feature of U.S. foreign exchange policy, especially under the Donald Trump administration. What is the historical context for including currency provisions alongside or as part of trade deals in U.S. exchange rate policy? What has actually been done? Is including currency provisions alongside or in trade deals a good idea? How should this be best managed?
Topic:
Foreign Policy, International Cooperation, International Trade and Finance, Exchange Rate Policy, and Trans-Pacific Partnership
Political Geography:
North America and United States of America

232. Harnessing Multilateral Financing for Health Security Preparedness

Author:
Center for Strategic and International Studies
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
The economic consequences of large-scale disease outbreaks can be enormous: pandemics could cause $570 billion per year in average economic losses over the coming decades. Health security threats have an especially destructive impact on development investments and GDP in low-income and lower-middle-income countries (LICs and LMICs): the 2014-2015 Ebola outbreak in West Africa wiped out nearly five years of existing investments in the region, gravely setting back the region’s future development prospects. By contrast, upgrading countries’ preparedness is relatively inexpensive and affordable; recent data demonstrates most countries would need to spend approximately $0.50-$1.50 per person per year to get an acceptable level of epidemic preparedness. The financing gap for preparedness is one of the starkest problems in health security, especially among LICs and LMICs. That gap is estimated at $4.5 billion per year. Investments in preparedness are cost-effective and affordable, but low-income and lower-middle-income country governments continue to underinvest at dangerously low levels. These governments bear lead responsibility for addressing financing gaps, but external funding can be catalytic. At present, there is no financing mechanism and no adequate incentive structure to motivate governments in high-risk countries to invest in preparedness, particularly when those investments compete with more visible priorities such as education, housing, transport infrastructure, and other pressing health needs. As a consequence, countries remain ill-prepared and vulnerable to the persistent threat of pandemics and large-scale disease outbreaks. The World Bank Group’s International Development Association (IDA) replenishment takes place every three years and presents a choice opportunity to make adjustments that reflect important emerging priorities. In the current IDA19 replenishment, stakeholders can take a major step towards closing the preparedness financing gap by incentivizing $1 billion or more per year in preparedness investments in LICs and LMICs.
Topic:
Security, Health, Multilateralism, and Public Health
Political Geography:
North America and United States of America

233. Space Threat Assessment 2019

Author:
Todd Harrison, Kaitlyn Johnson, and Thomas G. Roberts
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
While the vulnerabilities of U.S. national security space systems are often discussed publicly, the progress other nations are making in counterspace systems is not as readily accessible. Space Threat Assessment 2019 reviews the open-source information available on the counterspace capabilities that can threaten U.S. space systems. The report is intended to raise awareness and understanding of the threats, debunk myths and misinformation, and highlight areas in which senior leaders and policymakers should focus their attention. Space Threat Assessment 2019 focuses on four specific countries that pose the greatest risk for the United States: China, Russia, Iran, and North Korea. A fifth section analyzes the counterspace capabilities of select other countries, including some allies and partners of the United States, and some non-state actors. This report is not a comprehensive assessment of all known threats to U.S. space systems because much of the information on what other countries are doing to advance their counterspace systems is not publicly available. Instead, it serves as an unclassified assessment that aggregates and highlights open-source information on counterspace capabilities for policymakers and the general public.
Topic:
Security, Military Strategy, and Space
Political Geography:
North America and United States of America

234. The Impact of Rules of Origin on Supply Chains: USMCA’s Auto Rules as a Case Study

Author:
William Alan Reinsch, Jack Capotal, Madeleine Waddoups, and Nadir Takarli
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
In recent decades, supply chains have become more global while bilateral and regional free trade agreements (FTA) have continued to grow in popularity. For free trade agreements to operate as intended— that is, to provide benefits to the member countries—it must be possible for goods to be identified as products of an FTA member and therefore be eligible for preferential treatment. Free trade agreements also are expected to encourage manufacturers outside the agreement’s boundaries to locate production facilities within the countries party to the agreement to take advantage of the preferential treatment for goods produced there. Rules of origin codified in trade agreements play a crucial role in shaping global supply chains by setting out rules to ascertain the origin of a good. The newly negotiated U.S.-Mexico-Canada Agreement (USMCA) demonstrates the power of rules of origin to force the many businesses that depend on the current trade agreement to alter their supply chains and business models. Analyzing the new rules, the Scholl Chair in International Business finds that the USMCA will bring new costs to both parts and auto manufacturers and consumers and may provide a boon to North American steel and aluminum manufacturers.
Topic:
International Cooperation, International Trade and Finance, NAFTA, Free Trade, USMCA, and Supply Chains
Political Geography:
Canada, North America, Mexico, and United States of America

235. Innocent Bystanders

Author:
Judd Devermont and Catherine Chiang
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
Speaking at the United Nations General Assembly, President Nana Akufo-Addo of Ghana warned of the repercussions of escalating U.S.-China trade tensions on African nations. Although largely absent from the discourse surrounding the so-called “trade war,” sub-Saharan Africa has suffered from its impacts. Uncertainty hovering over global and African markets has already undermined investor confidence, triggering drops in commodity prices and local currencies. A slowdown in Chinese production and global growth could threaten to throw African markets further off balance. U.S. protectionist measures stand out for their repercussions on African economies and U.S.-Africa relations. Tariff tensions risk indirectly undercutting U.S. goals of promoting African self-reliance, increasing U.S.-Africa trade and investment, and countering China’s expanding influence on the continent.
Topic:
Development, Hegemony, Conflict, and Trade Wars
Political Geography:
Africa, China, Asia, North America, and United States of America

236. America’s Global Infrastructure Opportunity: Three Recommendations to the New U.S. Development Finance Corporation

Author:
Agnes Dasewicz, Todd Moss, Daniel F. Runde, and Kate Steel
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
The launch of the U.S. Development Finance Corporation (USDFC) in October 2019 is an extraordinary opportunity to accelerate capital flows into emerging and frontier markets in support of U.S. national security, development, and commercial objectives. The new agency is inheriting a fundamentally solid foundation to build upon from the Overseas Private Investment Corporation (OPIC). However, it would represent a tremendous missed opportunity if the USDFC merely replicated OPIC’s activities at a higher volume. This is especially the case for infrastructure finance, the sector where USDFC has the greatest potential to have impact.
Topic:
Development, Infrastructure, and Finance
Political Geography:
North America and United States of America

237. Preventing Catastrophe in Afghanistan

Author:
Richard Olson and Daniel F. Runde
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
This brief presents a summary of key historical events in Afghanistan since 1989 and outlines a possible worst-case scenario following a U.S. and allied withdrawal from the country. The United States, Afghanistan, and its allies must work together in search for greater Afghan self-reliance, security, and stability in order to avoid a catastrophic scenario. Only then will Afghanistan be able to free itself of foreign presences and embark on its own journey to prosperity and self-reliance.
Topic:
Military Strategy, Governance, Hegemony, Military Affairs, and Foreign Interference
Political Geography:
Afghanistan, Middle East, North America, and United States of America

238. Acquisition Trends, 2018: Defense Contract Spending Bounces Back

Author:
Rhys McCormick, Samantha Cohen, Gregory Sanders, and Andrew Philip Hunter
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
Defense Acquisition Trends, 2018: Defense Contract Spending Bounces Back is the latest in an annual series of report examining trends in what DoD is buying, how DoD is buying it, and whom DoD is buying from. This report analyzes the current state of affairs in defense acquisition by combining detailed policy and data analysis to provide a comprehensive overview of the current and future outlook for defense acquisition. This analysis will provide critical insights into what DoD is buying, how DoD is buying it, from whom is DoD buying, and what are the defense components buying using data from the Federal Procurement Data System (FPDS). This analysis provides critical insights into understanding the current trends in the defense industrial base and the implications of those trends on acquisition policy.
Topic:
Defense Policy, Military Strategy, Private Sector, and Military Contractors
Political Geography:
North America and United States of America

239. Rethinking Taxes and Development: Incorporating Political Economy Considerations in DRM Strategies

Author:
Daniel F. Runde
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
As countries mobilize more resources to fund their governments and services, they can think more strategically about transitioning from a reliance on foreign aid to more mutually beneficial relationships with foreign countries. There are structural challenges to mobilizing domestic resources that long have been the focus of DRM efforts; however, addressing the political economy and structural challenges will be critical in the face of increased need and plateauing levels of foreign aid. It is critical that development approaches create the foundational capabilities and systems necessary to capitalize on political windows of opportunity.
Topic:
Development, Political Economy, and Tax Systems
Political Geography:
Global Focus

240. Challenges, Changes, and Continuity: The United States and a Fragmented Regional Order

Author:
Anthony H. Cordesman
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
It is brutally obvious from the proposed U.S. defense budget for FY2020 that the United States set broad goals in early 2018 for what it called a new national defense strategy that were not supported by meaningful plans, programs and proposed budgets. So far, the U.S. has not defined how it will implement any major elements of the broad concepts it chose to call a strategy, what force changes will need to take place and at what cost, and how this will affect America's strategic partners.
Topic:
Military Strategy, Budget, Military Spending, Regionalism, and Regional Power
Political Geography:
North America and United States of America