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  • 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
  • Publication Date: 02-2018
  • Content Type: Video
  • Institution: The Brookings Institution
  • Abstract: On February 7, David Frum joined a panel of experts at Brookings to discuss the burgeoning threats to democratic institutions in the Trump era.
  • Topic: International Affairs, Democracy
  • Political Geography: America
  • Author: Adam Looney, Constantine Yannelis
  • Publication Date: 02-2018
  • Content Type: Special Report
  • Institution: The Brookings Institution
  • Abstract: We examine the distribution of student loan balances and repayment rates in the United States using administrative student loan data. We show that increases in credit limits and expansions in credit availability resulted in rising borrowing amounts, and that the share of borrowers holding very large balances has surged. For instance, the share of borrowers leaving school with more than $50,000 of federal student debt increased from 2 percent in 1992 to 17 percent in 2014. Consequently, a small share of borrowers now owes the majority of loan dollars in the United States. Although these large-balance borrowers have historically strong labor market outcomes and low rates of default, repayment rates have slowed significantly between 1990 and 2014 reflecting, in part, changes in the characteristics of students, the schools they attended, and the rising amounts borrowed. A decomposition analysis indicates that changes in the types of institutions attended, student demographics, default rates, and increased participation of alternative repayment plans and forbearance largely explain the decrease in student loan repayment.
  • Topic: Education, International Affairs
  • Political Geography: America
  • Author: Jonathan Pollack
  • Publication Date: 04-2017
  • Content Type: Video
  • Institution: The Brookings Institution
  • Abstract: Brookings Senior Fellow and SK-Korea Foundation Chair Jonathan Pollack explains the threat that North Korea poses to the United States, its neighbors, and the world. Pollack also explores the different options that the United States has to handle threats from North Korea and describes the different scenarios that could escalate tensions between the United States and North Korea.
  • Topic: International Security, Geopolitics
  • Political Geography: America, North Korea, Global Focus
  • 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, International Affairs
  • Political Geography: America, Global Focus
  • Author: Geoffrey Gertz
  • Publication Date: 03-2017
  • Content Type: Special Report
  • Institution: The Brookings Institution
  • Abstract: President Donald Trump has promised to renegotiate the North American Free Trade Agreement (NAFTA), which links the United States with two of its largest trading partners, Canada and Mexico. Officials in both Canada and Mexico have signaled they are open to renegotiations, and talks are expected to begin soon. New commerce secretary Wilbur Ross has indicated he hopes the negotiations could be completed within a year.
  • Topic: International Relations, International Trade and Finance, International Security
  • Political Geography: America, Canada, Mexico
  • Author: Dhruva Jaishankar
  • Publication Date: 06-2017
  • Content Type: Special Report
  • Institution: The Brookings Institution
  • Abstract: Donald Trump’s election at a time of growing and converging interests between India and the United States necessitates a re-evaluation of several aspects of Indian domestic and foreign policy. This paper identifies four areas in which Trump’s election affects Indian interests: bilateral relations (encompassing trade, investment, immigration, and technological cooperation), the Asian balance of power, counterterrorism, and global governance. It argues that India must continue to engage with the Trump administration and other stakeholders in the United States—including the U.S. Congress, state governments, and the private sector—in all of these areas. New Delhi must attempt to convince Washington that India’s rise is in American interest. This idea provided the underlying logic behind the Clinton, Bush, and Obama administrations’ engagement with India, but it will be more difficult to sustain given the United States’ new political realities and impulses.
  • Topic: International Relations, International Affairs
  • Political Geography: America, India
  • Author: 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, International Trade and Finance
  • Political Geography: America, Asia-Pacific
  • 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, International Political Economy
  • Political Geography: China, America
  • Author: Philippe Le Corre, 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, Geopolitics
  • Political Geography: China, America, Europe