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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution Carnegie Endowment for International Peace Remove constraint Publishing Institution: Carnegie Endowment for International Peace Topic Economics Remove constraint Topic: Economics
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  • Author: Togzhan Kassenova
  • Publication Date: 08-2012
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: The Asia-Pacific region epitomizes the type of proliferation challenges the international community faces. Globalization turned the region into one of the most important international trade hubs, the home to leading dual-use companies, and the anticipated site of the world's most significant growth in nuclear energy. While those trends are beneficial, they also create new sources of weapons of mass destruction (WMD) proliferation.
  • Topic: Arms Control and Proliferation, Development, Economics, International Trade and Finance, Markets, Weapons of Mass Destruction, Nuclear Power
  • Political Geography: Asia, Australia
  • Author: S. Akbar Zaidi
  • Publication Date: 09-2010
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Over the last sixty years, Pakistan\'s economy has seen severe ups and downs. Once considered a model for other developing nations, Pakistan has been unable to sustain solid growth. Furthermore, a third of its population now lives below the poverty line, and its literacy rate is abysmally low. Pakistan\'s economic instability stems in large part from low government revenue resulting from the elite\'s use of tax evasions, loopholes, and exemptions. Fewer than three million of Pakistan\'s 175 million citizens pay any income taxes, and the country\'s tax-to-GDP ratio is only 9 percent. Tax evasion means fewer resources are available for essential social services. Pakistan spends too much on defense and too little on development: It has spent twice as much on defense during peacetime as it has on education and health combined. The government knows how to increase its revenue through tax reform, but the rich and powerful have resisted such measures for fear of lowering their own incomes. Without sufficient revenue the government will continue to be burdened with an unsustainable debt. It needs to end tax exemptions for the wealthy and develop broader, long-term economic plans for sustain able growth. In the past, the United States and other Western nations have come to Pakistan\'s rescue by paying off debts and funding development initiatives. Pakistan\'s elite has no reason to support reform as long as these bailouts come with no conditions attached.
  • Topic: Development, Economics, Monetary Policy
  • Political Geography: Pakistan, United States
  • Author: Uri Dadush, Vera Eidelman
  • Publication Date: 11-2010
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: The Great Recession included five major surprises: (1) the severity of the global trade and output collapse, (2) the United States suffered a milder than expected recession, (3) Europe saw the onset of a severe sovereign debt crisis, (4) China grew at an extraordinary rate even though it's greatly dependent on exports, and (5) Latin America showed remarkable resilience.
  • Topic: Economics, Globalization, Global Recession, Financial Crisis
  • Political Geography: United States, China, Europe, Latin America
  • Author: Martha Brill Olcott
  • Publication Date: 02-2009
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: With Washington's influence on the Caspian region at its lowest ebb in many years, the Obama administration could reverse this trend with a new approach that accepts Russia's presence and China's interest as historical and geographical givens and emphasizes short- and medium-term problem solving in multilateral and bilateral settings instead of long-term political and economic transformations. The United States can accomplish more in the Caspian region by focusing on military reform and building security capacity than on forming military alliances. The United States should switch from a multiple pipeline strategy to a policy that advances competition by promoting market pricing for energy producers, consumers, and transit states. The United States could facilitate the introduction of renewable sources of energy as a stimulus to economic recovery and a source of enhanced social security. The United States should develop a nuanced strategy that encourages political development through social and educational programs and local capacity building. The Obama administration should name a high-level official as a presidential envoy to this region.
  • Topic: Security, Foreign Policy, Development, Economics, Nuclear Weapons
  • Political Geography: Russia, United States, China, Washington, Central Asia
  • Author: Michael Pettis
  • Publication Date: 05-2009
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Participants in the recently completed G20 meeting in London agreed on a number of measures, some substantial and some merely symbolic, but they sidestepped the real issues dividing the major economic powers and, in so doing, failed to address the root causes of the global trade and investment imbalances. This was almost inevitable. China, Europe, and the United States have incompatible conceptual frameworks for understanding the causes of the global financial crisis; furthermore, their conflicting domestic political constraints make agreement on solutions hard to reach. Europeans believe that the root cause of the crisis was excessively deregulated financial systems, and they are skeptical about U.S. and Chinese calls for fiscal expansion, worrying that excessive spending would prolong the imbalances and make the ultimate adjustment more difficult. China also believes that the roots of the crisis lie within the structure of the global financial system, although Beijing insists that it was mainly the reserve status of the U.S. dollar that permitted imbalances to develop to unsustainable levels. China is particularly vulnerable to trade protection and seeks to maintain open markets for its continued export of domestic overcapacity. Like the United States, it is pushing for more aggressive, globally coordinated fiscal expansion. However, because of rigidities in its financial system and development model, its fiscal response to the crisis may exacerbate the difficult global adjustment and may, ironically, increase the chances of trade friction. In a time of contracting demand, the United States controls two-thirds of the most valuable resource in the world: net demand. Consequently, it is U.S. policies that will determine the pace and direction of the global recovery, along with the institutional framework that will govern trade and investment relationships for decades to come. The crisis puts the United States more firmly at the center of the emerging world order than ever. So far, the United States has not understood the need to consider the global outcomes of its recovery policies. Until the major powers can reach consensus about the roots of the imbalance and cooperate on policies to promote recovery, it is likely that the world economy will get worse before it gets better. The United States will drive the recovery process, but in order to do so effectively it will need to recognize its position of strength and negotiate the appropriate agreements with other major powers, especially China, on the pace and nature of the adjustment.
  • Topic: Economics, Globalization, International Trade and Finance, Monetary Policy
  • Political Geography: United States, China, Europe, London
  • Author: Uri Dadush
  • Publication Date: 09-2009
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Since its inception in 1995, the World Trade Organization has been the guardian of stability and predictability in world trade, but it has failed to fulfill its promise as a source of new trade rules and liberalization. Conclusion of the diluted Doha Development Agenda will not end the need for WTO reform. At the heart of WTO reform must be a more flexible approach to negotiations, one more tailored to the needs of individual countries and groups. The process of reflection and consultation on WTO reform should begin with the WTO Ministerial in Geneva in November.
  • Topic: Economics, International Organization, International Political Economy, International Trade and Finance
  • Political Geography: Geneva
  • Author: Uri Dadush, Lauren Falcao
  • Publication Date: 12-2009
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: More than 200 million people reside in a country that is not their birthplace. This “diaspora nation” of migrants outranks all but four of the world's countries in population. These migrants make an immense economic contribution both to their host country and to their home country, primarily through transfers of money they earn back to their home country, which are known as “remittances.” About 82 percent of migrants originate in developing countries, and their remittances, which amounted to an estimated $305 billion in 2008, represent an essential source of foreign exchange for these countries, as well as a major instrument in the fight against poverty.
  • Topic: Economics, Globalization, Migration, Immigration, Financial Crisis
  • Political Geography: Russia, America, Dubai
  • Author: Michael Pettis
  • Publication Date: 11-2009
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: In September, the Obama administration imposed tariffs on Chinese tires. In October, the U.S. Department of Commerce announced it would launch an investigation into imports of seamless steel pipes from China. That same month, the U.S. Chamber of Commerce and the U.S.–China Business Council, two groups that in the past have defended Chinese policies, testified to the Office of the U.S. Trade Representative that Chinese contracting rules, technical standards, and licensing requirements were protectionist.
  • Topic: Economics, Globalization, Foreign Direct Investment, Financial Crisis
  • Political Geography: China, Middle East, Asia
  • Author: Albert Keidel
  • Publication Date: 07-2008
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: China's economy will surpass that of the United States by 2035 and be twice its size by midcentury, a new report by Albert Keidel concludes. China's rapid growth is driven by domestic demand—not exports—and will sustain high single-digit growth rates well into this century. In China's Economic Rise—Fact and Fiction, Keidel examines China's likely economic trajectory and its implications for global commercial, institutional, and military leadership.
  • Topic: Economics, Globalization, International Trade and Finance
  • Political Geography: United States, China, Asia
  • Author: Albert Keidel
  • Publication Date: 09-2007
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Surging food prices in China indicate a serious risk of inflationary overheating. Past steps to control inflation caused social protest and deadly unrest. China faces the same risk now. China could avoid severe inflation by learning from its past failures and quickly raising interest rates—but politics make this unlikely. “Cooling off” policies in the future will thus be harsher than necessary. Beyond short-term fixes, China should increase imports of fine grains, with long-term U.S. supply assurances, both to stabilize prices and to promote lucrative farm diversification. U.S. intelligence analysis of this overheating risk should refute the conventional wisdom that China's growth is export-led—it is clearly domestically driven. Policy makers need to realize that China's rapid economic rise is homegrown and sustainable. The United States should quietly remind China that harsh handling of inflation-related unrest could seriously damage U.S.-China relations—especially in a U.S. election year.
  • Topic: Economics, Globalization
  • Political Geography: United States, China, Asia
  • Author: Sandra Polaski
  • Publication Date: 07-2007
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: U.S. wages have stagnated for the past three decades, while the workforce has also faced an erosion of job security, health care, and pension plans. This increasing economic insecurity has coincided with rapid globalization. Is there a causal relationship between the two?
  • Topic: International Relations, Economics, Globalization
  • Political Geography: United States
  • Author: Albert Kiedel
  • Publication Date: 09-2006
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: China is confronting widespread violent and even deadly social unrest, raising Communist Party alarms about national security. Some observers speculate that unrest could undermine China's national leadership, as it did in the Ukraine and the Philippines. Some U.S. policy makers might welcome unrest in China as a path to democracy and “freedom.” But rather than an opportunity to transform China's political order, China's social unrest should be understood as the unavoidable side effects—worsened by local corruption—of successful market reforms and expanded economic and social choice. Managing this unrest humanely requires accelerated reform of legal and social institutions with special attention to corruption. More violence would generate more suffering, potentially destabilizing East Asia and harming U.S. interests. The United States should encourage China to strengthen its social reconciliation capabilities, without making electoral political reform a prerequisite for intensifying engagement across the board.
  • Topic: Civil Society, Development, Economics
  • Political Geography: United States, China, Ukraine, East Asia, Asia
  • Author: Dmitri V. Trenin
  • Publication Date: 10-2005
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: After the fall of Communism, Russia reverted to czarism. But more importantly, Russia embraced capitalism. Although not democratic, Russia is largely free. Property rights are more deeply anchored than they were five years ago, and the once-collectivist society is going private. Indeed, private consumption is the main driver of economic growth. Russia's future now depends heavily on how fast a middle class—a self-identified group with personal stakes in having a law-based government accountable to tax payers—can be created. The West needs to take the long view, stay engaged, and maximize contacts, especially with younger Russians.
  • Topic: Economics, Government
  • Political Geography: Russia, Europe, Asia
  • Author: Albert Keidel
  • Publication Date: 06-2005
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: In Washington, politicians and pundits have settled on a single magical solution for the country's economic ills: getting China to revalue its currency, the RMB. By any reasonable economic measure, however, the RMB is not undervalued. China does have a trade surplus with the United States, but it has a trade deficit with the rest of the world. And China's accumulation of dollar reserves is not the result of trade surpluses, but of large investment inflows caused in part by speculators' betting that China will yield to U.S. pressure. Focusing on China's currency is a distraction. If the United States wants to improve its economy for the long haul, it had best look elsewhere beginning with raising the productivity of American workers.
  • Topic: Economics, Government
  • Political Geography: United States, China, America, Washington, Asia
  • Author: Wade Channell
  • Publication Date: 05-2005
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: THE FALL OF THE BERLIN WALL IN 1989 and the subsequent breakup of the Soviet Union presented an unparalleled opportunity for fundamental political and economic change in more than two dozen countries. As postcommunist countries sought to attain the economic development of their Western neighbors, it became clear that the existing framework of laws and institutions would not support the desired growth. Reformers and development experts soon identified a panoply of gaps and shortcomings in financial resources, human resources, and organizational capacity, all of which appeared ripe for outside assistance.
  • Topic: International Relations, Economics
  • Political Geography: Eastern Europe, Soviet Union, Portugal, Berlin
  • Author: Thomas Carothers
  • Publication Date: 02-2005
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: The Middle East Partnership Initiative (MEPI), an important component of the Bush administration's policy of promoting Middle East reform, is falling short. MEPI should be relaunched as a private foundation funded by the government, akin to the Asia Foundation or the Eurasia Foundation. Such a relaunch would permit MEPI to develop greater expertise in the region, use more flexible, effective aid methods, and gain some independence from other U.S. programs and policies that serve conflicting ends. The restructuring of MEPI should be part of a broader set of measures to establish a more visible, coherent institutional policy structure to pursue the critical goal of fundamental political and economic change in the Middle East.
  • Topic: Development, Economics, Politics
  • Political Geography: Eurasia, Middle East, Asia
  • Author: Jacob Steinfeld
  • Publication Date: 07-2004
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: FOREIGN DIRECT INVESTMENT (FDI) HAS TRANSFORMED MEXICO'S BANKING SYSTEM during the past decade, making it the second largest in Latin America with $165 billion in commercial assets in 2003. In the past four years, Mexico received $25.3 billion of FDI into its financial sector. This composes nearly 40 percent of total FDI inflows into the country. As a result of FDI flowing into the country's financial sector, the Mexican banking system has the highest ratio of foreign ownership in Latin America.
  • Topic: Economics, International Trade and Finance, Political Economy
  • Political Geography: Latin America, Mexico
  • Author: Sandra Polaski
  • Publication Date: 05-2004
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: These are not normal times. Two changes in the past decade have produced a huge global oversupply of labor and intense competition for an expanding array of jobs. First, the Cold War's end threw millions of workers, who formerly produced only for the socialist bloc, onto the global labor market. And second, that market has become integrated by technological change that now permits outsourcing of service as well as manufacturing jobs. The current economic recovery will not solve the resulting global mismatch of supply and demand, and it cannot be addressed by the United States alone. Many current policies aggravate the problem. This paper proposes that the United States revise its policies and devote a concerted effort to get the major countries to work together to expand employment at that global level.
  • Topic: Economics, Globalization, Industrial Policy
  • Political Geography: United States
  • Author: Simon Johnson, Anders Åslund
  • Publication Date: 03-2004
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: Institutions such as strong property rights and the rule of law are important for both long-run economic performance and short-run volatility. Developing good institutions is generally viewed as a desirable goal, but there is no agreed road map for such changes.
  • Topic: Economics
  • Political Geography: Israel, Eastern Europe, East Asia, Latin America
  • Author: John Audley
  • Publication Date: 09-2002
  • Content Type: Policy Brief
  • Institution: Carnegie Endowment for International Peace
  • Abstract: On a hot day in August, President George W. Bush signed into law the Trade Act of 2002. Months of debate between the administration and members of Congress, their constituencies, and other governments were over; with the stroke of his pen President Bush became the first president in almost a decade to enjoy the benefits of trade promotion authority (TPA).
  • Topic: Economics, Environment, International Trade and Finance, Political Economy
  • Political Geography: United States