Brookings: Topics - Global Financial Crisis

China on the World Stage: Climate Change, Regional Blocs and Resource Investment

Mon, 30 Nov 2009 09:00:00 GMT

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November 30, 2009, 9:00 AM to 12:00 PM

The world and China’s place in it have transformed over the past year in response to pressure from the most severe global financial crisis in decades. While the economic crisis accelerated China’s emergence as a global superpower, it has yet to fully assess the consequences of its new position on the world stage. On November 30, Brookings and the Australian National University will co-host a discussion on China’s emerging position as a global power.

Fiscal Policy Rules and Latin America: Lessons from the Crisis

Mon, 23 Nov 2009 00:00:00 GMT

Fiscal policy has been mentioned as a key driver of the resilience that many large Latin American countries have seen during the global financial crisis. Mauricio Cárdenas and José Tessada examine Chile's fiscal rules and caution that a comprehensive fiscal strategy cannot focus solely on the short- and medium-term evolution of fiscal policy.

Fiscal Challenges Facing Cities: Implications for Economic Recovery

Thu, 19 Nov 2009 09:00:00 GMT

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November 19, 2009, 9:00 AM to 11:45 AM

The current economic crisis is not only a national crisis; it is also a metropolitan crisis. And soon the downturn will bring a local government fiscal crisis. On November 19, the Brookings Metropolitan Policy Program and the National League of Cities co-hosted a forum on city fiscal conditions, the responses being undertaken by creative mayors, and the implications for national economic recovery.

Sustaining Growth in Sub-Saharan Africa

Thu, 19 Nov 2009 14:00:00 GMT

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November 19, 2009, 2:00 PM to 3:30 PM

On November 19, the Africa Growth Initiative at Brookings hosted Antoinette Sayeh, director of the African Department of the International Monetary Fund (IMF), for a discussion on the economic outlook for Africa. The IMF has just released its semi-annual Regional Economic Outlook for Africa which contains findings that indicate sub-Saharan Africa’s economic activity has slowed sharply with the onset of the global financial crisis. As the world economy stages a tentative recovery, what does this mean for the region?

Fiscal Challenges Facing Cities: Implications for Recovery

Wed, 18 Nov 2009 00:00:00 GMT

The current economic crisis is not only a national crisis; it is also a metropolitan crisis; and it will soon become a local government fiscal crisis. In this framing report, Mark Muro and Christopher Hoene assert the importance of local government fiscal conditions to national economic performance, survey current and projected fiscal conditions, review implications for economic recovery, and offer a menu of federal policy options to help minimize city layoffs and service cuts that could harm the economy.

Building Bridges between China and the United States

Fri, 13 Nov 2009 09:07:00 GMT

As part of a multi-nation Asia trip that began last week, President Obama, now in China, met with Chinese Premier Hu Jintao to foster greater understanding and cooperation between the U.S. and China. Kenneth Lieberthal discusses the importance of the meeting between the two leaders.

The Middle East and the New Global Economy: Economic Recovery and a New Government in Lebanon

Fri, 13 Nov 2009 00:00:00 GMT

Tarik Yousef and the Middle East Youth Initiative speak with Jad Chaaban about recent economic and political developments in Lebanon, where Prime Minister-designate Saad Hariri ended months of negotiations by announcing a new unity cabinet earlier this week. With impressive overall growth projected for 2009, Lebanon’s economy may emerge stronger from the global crisis if the new government can agree on needed reforms.

The Global Recession and Climate Change

Fri, 13 Nov 2009 13:32:00 GMT

Delaying national commitments to reach reduced greenhouse gas emissions will be more costly for national governments in the long run. Nonresident Senior Fellow Warwick McKibbin says the floundering global economy is a critical factor in what actions can be taken now.

Taiwan's Economy: Recovery with Chinese Characteristics

Wed, 11 Nov 2009 00:00:00 GMT

In the inaugural installment of CNAPS’s Taiwan-U.S. Quarterly Analysis series, Terry Cooke explores the causes and effects of Taiwan’s pursuit of economic normalization with China. Articles in this series will be written by leading experts on the U.S.-Taiwan relationship and will contain in-depth analysis of bilateral and multilateral policy challenges for Taipei and Washington.

The Global Economic Crisis of 2008: What Happened? What’s Next?

Tue, 27 Oct 2009 18:00:00 GMT

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October 27, 2009, 6:00 PM to 8:00 PM

On October 27, the Brookings Doha Center hosted a luncheon with Glenn H. Hutchins, co-founder and co-chief executive of Silver Lake Partners, and a trustee of the Brookings Institution, on the build-up to the global financial crisis, highlighting the important policy implications of the global recession. Hady Amr, director of the Brookings Doha Center, moderated the discussion which was attended by leading members of Qatar’s business and academic communities.

Jean Pisani-Ferry on the Transatlantic Economy After the Global Financial Crisis

Mon, 26 Oct 2009 17:00:00 GMT

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October 26, 2009, 5:00 PM to 7:00 PM

On October 26, the Center on the United States and Europe at Brookings hosted Jean Pisani-Ferry, a leading French economist, to deliver the Sixth Annual Raymond Aron Lecture. Mr. Pisani-Ferry assessed the impact of the global financial crisis on the closely intertwined economies of Europe and the United States, and their influence on the world economy.

Tracking the Global Economic Recovery: Insights on the IMF's New World Economic Outlook

Wed, 21 Oct 2009 00:00:00 GMT

In May 2009, Laurence Chandy, Geoffrey Gertz and Johannes Linn examined the global impact of the financial crisis based on data from the IMF’s April World Economic Outlook (WEO). Following the release of a new WEO database released earlier this month, they appraise their previous assertions and analyze the salient features of the global economic recovery.

Latin America: Time for Reform, Not for Complacency

Mon, 19 Oct 2009 00:00:00 GMT

Latin America, a region that has faced both challenges and opportunities during the financial crisis, has had more economic growth than other areas of the world. Mauricio Cárdenas discusses the forces behind this economic success and the need for the region to seize this crisis as an opportunity to make important reforms to solve longstanding problems.

Nobel Prize in Economics: Illusions From Tinbergen to Keynes

Thu, 15 Oct 2009 00:00:00 GMT

Daniel Kaufmann provides a different outlook on the Nobel Prize in Economics and illustrates that today’s economy—including the large stimulus plans, social welfare, and infrastructure investment—relate closely to the ideas of John Maynard Keynes. This prompts Kaufmann to ask, should he win the Nobel Prize?

Global Macroeconomic Imbalances: G-20 Leaders Must Back up Their Rhetoric with Deeds

Tue, 13 Oct 2009 00:00:00 GMT

The financial crisis has taught us a painful lesson that global macroeconomic imbalances can wreak enormous damage on the world economy. At the G-20 Pittsburgh Summit, leaders committed to a framework that would prevent further damage. Eswar Prasad proposes a Special Drawing Rights scheme that allows G-20 countries to make enforceable policy commitments.

The G-20, the "Istanbul Decisions" and the Way Forward

Thu, 08 Oct 2009 00:00:00 GMT

The fall global economic agenda is well underway with the completion of the G-20 Pittsburgh Summit and the IMF and World Bank Annual Meetings in Istanbul. Kemal Derviş discusses the key themes coming out of these “historic” meetings, highlighting the essential roles of both the informal and formal channels of global economic governance and the way forward after the crisis.

Growth After the Storm? A Longer Run Perspective on the Global Economy

Sun, 04 Oct 2009 00:00:00 GMT

During a lecture at the IMF-World Bank 2009 Annual Meetings, Kemal Derviş discussed global growth prospects following the economic crisis and the role that supply side factors and macroeconomic management can play.

U.S. and the G-20 Summit: Perspectives on Global Leadership

Mon, 28 Sep 2009 00:00:00 GMT

The Pittsburgh G-20 Summit was a significant milestone for President Obama's leadership role in the international community. Colin Bradford reflects on what the Summit meant for the United States and how it was shaped by the president's involvement.

Non-G-20 Developing Countries and the G-20 Summit: Perspectives on Global Leadership

Sun, 27 Sep 2009 00:00:00 GMT

What did the Pittsburgh G-20 Summit offer non-G-20 developing countries? Homi Kharas examines the Summit talks and how the interests of developing countries in this group were not adequately addressed.

Deciding Who Decides at the G-20 Summit

Thu, 24 Sep 2009 00:00:00 GMT

The Pittsburgh G-20 summit marks the fourth time this group of leaders has met, but the meetings operate on an ad hoc basis undermining confidence that it will deliver, say Nina Hachigian and Bruce Jones. They argue setting the table at the G-20 to make global decisions that stick is one of the thorniest issues the leaders gathering in Pittsburgh will face.

The 0.85 Percent Solution for Low-Income Countries

Thu, 24 Sep 2009 00:00:00 GMT

A topic of discussion at previous G-20 summits, IBRD resources are central to helping poor countries survive this economic crisis. Homi Kharas discusses the importance of making IBRD resources much more widely available to promote development and urges G-20 leaders to continue talks about this issue at the summit in Pittsburgh.

The Scouting Report Web Chat: Previewing the Pittsburgh G-20 Summit

Wed, 23 Sep 2009 00:00:00 GMT

At 12:30 on September 23, Colin Bradford, former chief economist at the U.S. Agency for International Development, and Fred Barbash, senior editor at Politico, answered your questions about the G-20 Summit and global economic recovery.

The Middle East and the New Global Economy: Development and Diversification in Saudi Arabia

Wed, 23 Sep 2009 00:00:00 GMT

Saudi Arabia will join other Group of Twenty (G-20) nations this week to address the global economic recovery. In a discussion with the Middle East Youth Initiative, expert economist Hassan Hakimian explains that the government’s stimulus budget has helped to cushion the country from the worst effects of the recession. Yet, the long-term challenges of developing the non-oil, private sector and harnessing human capital remain.

The Middle East and the New Global Economy: Revisiting Egypt in the Wake of the Downturn

Tue, 22 Sep 2009 00:00:00 GMT

As leaders from the Group of Twenty (G-20) nations prepare to meet to take stock of the world's economy, the Middle East finds itself increasingly influenced by global trends and policies. Brookings expert Tarik Yousef and professor Ragui Assaad discuss Egypt's responses to the downturn and its future role in the global economy.

G-20 Summit: Recovering from the Crisis

Thu, 17 Sep 2009 00:00:00 GMT

On September 24, President Obama will chair his first G-20 Summit in Pittsburgh. With the world economy improving, leaders will now focus their attention on economic recovery and restoring financial stability. Experts from Brookings Global Economy and Development program analyze top issues to be addressed at the summit and provide recommendations on how to effectively overcome global economic and governance challenges to ensure recovery now and to prevent future crises.

Monetary Policy and Financial Stability: An Address by José de Gregorio

Thu, 17 Sep 2009 14:00:00 GMT

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September 17, 2009, 2:00 PM to 3:30 PM

On September 17, the Brookings Institution will host Dr. José de Gregorio, governor of the Central Bank of Chile. Governor de Gregorio will outline his views on how best to structure monetary policy and regulatory frameworks in emerging markets to promote macroeconomic and financial stability.

The Scouting Report: Global Financial Crisis, One Year On

Wed, 16 Sep 2009 12:30:00 GMT

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September 16, 2009, 12:30 PM to 1:30 PM

The collapse of Lehman Brothers in September 2008, combined with the government takeover of Fannie Mae and Freddie Mac, helped trigger the worst financial crisis in the United States since the Great Depression. In this week’s edition of the Scouting Report, Douglas Elliott—a former investment banker and current fellow at Brookings—answered your questions about the financial crisis and where we stand one year later. Fred Barbash, senior editor at Politico, moderated the discussion.

The Future of Financial Institutions After the Global Financial Crisis

Tue, 15 Sep 2009 10:21:31 GMT

It’s been one year since the economic crisis hit hard with the failure of Lehman Brothers, which reverberated throughout the financial sector and the world. President Obama gave a speech on Wall Street pressing for financial system reforms to prevent a future similar crisis. Vice President and Economic Studies co-director Karen Dynan evaluates the impact of the government’s intervention over the past year and where we go from here.

A Year in Turmoil: An Address By Fed Chairman Ben Bernanke

Tue, 15 Sep 2009 10:00:00 GMT

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September 15, 2009, 10:00 AM to 12:00 PM

This week marks the one-year anniversary of Lehman Brothers' collapse. Federal Reserve Chairman Ben Bernanke delivered a keynote about the tumultuous events of last September at a Brookings forum on Tuesday. Brookings Vice President Karen Dynan moderated a panel with other experts on the state of financial markets and regulatory reform.

The Outlook for the U.S. Economy: Echoes of Japan’s Lost Decade

Mon, 14 Sep 2009 00:00:00 GMT

The panic is over, writes CNAPS Guest Scholar Naoki Abe. The outlook for the U.S. economy has brightened as the worst period for financial institutions is passing. However, the lesson from Japan’s “lost decade” is that full-fledged economic recovery requires sustained financial health and bullish economic momentum; while the financial panic is over, financial hardships are not over yet.

Could a Resurgent Global Economy Relapse into Global Imbalances?

Mon, 14 Sep 2009 00:00:00 GMT

A year after the bankruptcy of Lehman Brothers and the ensuing near collapse of the U.S. financial system, Eswar Prasad reflects on what led to these circumstances and urges for coordinated solutions to avoid further global imbalances.

Is the G-20 Summit a Step Toward a New Global Economic Order?

Fri, 11 Sep 2009 00:00:00 GMT

Colin Bradford and Johannes Linn argue that the global crisis has moved the United States, along with the rest of the world, toward a new global economic order, with the G-20 summit as one of the principal manifestations of the new global governance system. In addition to the financial crisis, they say that the summit can also serve as a platform for addressing other pressing global issues, including trade, climate change, energy and food security and reform of global institutions.

Climate Change Policy: Recommendations to Reach Consensus

Thu, 10 Sep 2009 00:00:00 GMT

As the financial crisis continues to take its toll on the global economy, another serious challenge looms large: preventing the planet from warming more than 3.6 degrees Fahrenheit. Brookings experts and colleagues from the public and private sectors develop strategies and provide recommendations to policymakers who are now faced with the daunting task of stabilizing the climate without dampening economic recovery.

The Potential Impact of the Global Financial Crisis on World Trade

Mon, 31 Aug 2009 00:00:00 GMT

Brookings expert Warwick McKibbin and CAMA Visiting Fellow, Andrew Stoeckel, use modelling to explore the implications of the large increase in fiscal deficits and the implications of a global trade war in response to the financial crisis.

Monetary Policy Challenges for Emerging Market Economies

Wed, 19 Aug 2009 00:00:00 GMT

The debate between theorists and practitioners on monetary policy challenges for emerging market economies continues. This paper by Brookings expert Eswar Prasad, Gill Hammond, and Ravi Kanbur addresses the dialogue between academics and policymakers on this issue and sets an agenda for further research.

President Obama in Mexico

Mon, 10 Aug 2009 00:00:00 GMT

Vanda Felbab-Brown joined Diane Rehm to discuss President Obama's meeting in Guadalajara with leaders of Canada and Mexico on issues of mutual concern including escalating drug violence in Mexico, immigration and the economy.

Comparing the Recessions in Germany and the United States

Mon, 10 Aug 2009 12:54:35 GMT

The world recession that began in the U.S. is hitting Germany much harder than us, due to a collapse in world trade that has damaged an economy that Germans constantly refer to as “the World Export Champion.” But, Douglas Elliott explains, Germans feel much better about their economic situation than Americans do about ours.

Rebalancing Growth In Asia Depends on Chinese Consumer Spending

Sun, 02 Aug 2009 00:00:00 GMT

Eswar Prasad argues that a key component in restoring overall global financial health is to fix growth imbalances in Asia's emerging markets, especially China's excessive dependence on export- and investment-led growth. Prasad encourages financial market development in China to increase private consumption to make growth more balanced and thus help stabilize the world financial and economic systems.

Climate Crisis, Credit Crisis: Overcoming Obstacles to Build a Climate Resilient World

Thu, 30 Jul 2009 08:00:00 GMT

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July 30, 2009, 8:00 AM to 9:30 PM
August 01, 2009, 8:00 AM to 9:30 PM

Forty experts gathered for the Brookings Blum Roundtable to discuss the impact of climate change and the global financial crisis on the world's poor. The experts formed recommendations for global leaders as they prepare to meet in Copenhagen in December to address solutions to global climate change.

Protectionism Continues its Climb

Thu, 23 Jul 2009 00:00:00 GMT

Chad P. Bown finds that although the G-20 committed to reduce trade protectionism and barriers following the start of the financial crisis, almost all of them have turned to trade “remedy” policy instruments in response to domestic industry demands for protection from import competition.

The Scouting Report: A New Partnership with Latin America

Wed, 15 Jul 2009 12:30:00 GMT

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July 15, 2009, 12:30 PM to 01:30 PM

Brookings expert Mauricio Cárdenas, director of the Latin America Initiative at Brookings, and Fred Barbash, senior editor of Politico, took questions on U.S.-Latin America relations in this edition of the Scouting Report.

Geithner and the New Middle East Economic Agenda

Tue, 14 Jul 2009 00:00:00 GMT

As U.S. Secretary Treasury Geithner concludes his first visit to the Middle East, Navtej Dhillon argues for a new agenda which links U.S. efforts to reduce its dependency on foreign oil to the Middle East’s challenge of building diversified economies which provide a better future for the region’s citizens.

China Faces the Future

Tue, 14 Jul 2009 09:30:00 GMT

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July 14, 2009, 9:30 AM to 5:00:00 PM
July 15, 2009, 9:00 AM to 12:15 PM

On July 14 and 15, the Center for Northeast Asian Policy Studies (CNAPS) at Brookings and the Institute of International Relations (IIR) at Taiwan’s National Chengchi University hosted leading experts from Taiwan and the United States for the 38th Taiwan-U.S. Conference on Contemporary China.

Brazil in the Global Crisis: Still a Rising Economic Superpower?

Mon, 13 Jul 2009 14:00:00 GMT

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July 13, 2009, 2:00 PM to 3:30 PM

On July 13, the Latin America Initiative at Brookings hosted a discussion on the recently released book, Brazil as an Economic Superpower? Understanding Brazil’s Changing Role in the Global Economy (Brookings Institution Press, 2009), edited by Brookings Political Economy Fellow Leonardo Martinez-Diaz and Lael Brainard, former vice president and director of Global Economy and Development at Brookings.

The Budget, the Deficit, the Future

Wed, 08 Jul 2009 09:00:00 GMT

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July 08, 2009, 9:00 AM to 11:00 AM

The federal government responded aggressively to the economic crisis with fiscal, financial and monetary interventions. While boosting the economy has to be the top priority in the short run, it would be dangerous to lose focus on medium- and long-term fiscal issues that represent future threats to the economy and the solvency of the federal government. On July 8, Brookings experts and colleagues examined the delicate balancing act between economic recovery and fiscal sustainability.

The G20 and Political Capital for the International Financial Institutions

Tue, 07 Jul 2009 00:00:00 GMT

Discounted by many observers only a year ago, the International Financial Instiutions (IFIs) have been bolstered by support of the G20 process. Domenico Lombardi discusses how the G20 can be used as catalyst for reform within international finance.

G8: The Run-up to L'Aquila

Tue, 07 Jul 2009 00:00:00 GMT

Federiga Bindi explores topics of discussion in the lead-up to the G8 summit in Italy. Bindi points to high-level meetings prior to the summit as hopeful examples of participants speaking freely on issues of global concern like climate change and nuclear proliferation.

G8 Africa Action Plan: Enhance Strategies for Development

Wed, 01 Jul 2009 00:00:00 GMT

African development has been a top agenda item at previous G8 Summits, including the creation of the Africa Action Plan and increased financial commitments to support economic growth. Although the continent has seen some progress, Mwangi Kimenyi argues that more should be done and provides specific strategies for more effective development.

Europe and the Emerging Powers at the G8 Summit: "Taxation without Representation"

Tue, 30 Jun 2009 00:00:00 GMT

As the G8 summit nears, Bruce Jones highlights the problems involved in holding international decision-making meetings with just a handful of countries in an increasingly interconnected world. Jones argues that it is time to get serious about new modes of cooperation that gives a stronger voice to rising powers such as India and China.

Four Reflections on the Political Consequences of the Economic Crisis in Latin America

Thu, 25 Jun 2009 00:00:00 GMT

Kevin Casas-Zamora analyzes what is known and unknown about the global financial crisis and its effects on Latin America. Casas-Zamora explores four main issues regarding the political ramifications of the crisis and offers suggestions on how governments in the region should respond.

Latin America and the Economic Crisis: Designing and Implementing Stimulus Policies

Thu, 25 Jun 2009 00:00:00 GMT

Mauricio Cárdenas critiques the conventional wisdom that economic contractions are a thing of the past in Latin America and a growing belief the region will soon be out of the recession. He concludes that any recovery will be slow and there may be periods of sharp adjustment during the process.

How the Economy Plays into Iran's Turmoil

Wed, 24 Jun 2009 00:00:00 GMT

In an interview on NPR’s Marketplace, Djavad Salehi-Isfahani reports from Iran that the post-election political stalemate has put a halt to much economic and social activity in Tehran. Winning back the full participation and confidence of Iran’s “technical elite”—its doctors, engineers, and lawyers—will be a grave challenge for the new government.

An Education Stimulus for the Developing World

Tue, 23 Jun 2009 00:00:00 GMT

In this economic crisis many low-income countries are forced to cut back on vital investments in education. David Gartner urges that new guidance by Congress to the IMF could make a real difference in giving low-income countries the ability to invest in their own children.

Latin America and the Economic Crisis: An Address by Chilean President Michelle Bachelet

Tue, 23 Jun 2009 10:00:00 GMT

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June 23, 2009, 10:00 AM to 11:50 AM

On June 23, the Brookings Institution hosted Her Excellency Michelle Bachelet, president of the Republic of Chile, for a discussion of the Latin American countries and the economic measures they are taking to cope with the global financial crisis.

The Global Economic Crisis and Failed States

Mon, 22 Jun 2009 00:00:00 GMT

Already precariously dependent on commodities before 2008, the world's fragile states have been critically hit by the global financial crisis. In a recent article in Foreign Policy Magazine, Homi Kharas notes that a number of them are likely to suffer declines in real per capita income through 2010 as a result of the global recession and commodity price declines.

The G8 and Beyond: The Economics and Politics of a Global Century?

Sun, 21 Jun 2009 08:00:00 GMT

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June 21, 2009, 8:00 AM to 5:00 PM
June 22, 2009, 8:00 AM to 5:00 PM

On June 21 and 22, the Italian Foreign Ministry held a conference in partnership with the Brookings Institution, Aspen Italia, Club de Madrid, Link Campus University – Sage, and Centro di Eccellenza Jean Monnet – Fondazione Economia Tor Vergata. The goal of the conference was two-fold: to generate ideas that transcend the tyranny of the urgent and could help inform preparations for the Italy-hosted G8 Summit in July 2009; and to generate debate and discussion on longer-term efforts to reform the international system.

Foresight USA Symposium

Thu, 18 Jun 2009 08:30:00 GMT

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June 18, 2009, 8:30 AM to 10:00 PM
June 19, 2009, 8:30 AM to 4:30 PM

On June 18 and 19, 2009, the Foresight project held its second major regional symposium in Washington, D.C. Organized by the Alfred Herrhausen Society in partnership with Policy Network and the Brookings Institution, it provided a unique opportunity to advance the task of forging a new global consensus on the shape of the emerging world order and the role of the United States within it.

Financial Markets and Emerging Economies - The Decoupling Debate Is Back!

Tue, 16 Jun 2009 00:00:00 GMT

As the global financial crisis persists, some believe that emerging markets have become less reliant on advanced economies. Eswar Prasad and M. Ayhan Kose examine certain aspects of the decoupling hypothesis to see what they indicate for the future of the global economy.

Metropolitan Areas Reveal Unevenness of the Recession

Tue, 16 Jun 2009 16:52:06 GMT

When it comes to the U.S. economy, not all areas of the country are created equal. A new Metropolitan Policy Program report on the health of America’s metropolitan economies reveals that different parts of the country are experiencing the recession in different ways. Alan Berube says the study shows that broad-based recovery efforts are not the only answer to the complexities of the recession.

New Global Trade Structures and the New Role of the U.S. Economy

Mon, 08 Jun 2009 00:00:00 GMT

The response to the economic crisis by President Obama and American consumers indicate that global trade structures may be permanently altered. CNAPS Guest Scholar Naoki Abe explains that the government’s massive intervention in the economy will not be permanent, but that it must set the stage for the U.S. and other advanced economies to increase exports.

Middle East's Dual Challenge: Youth and the Economy

Thu, 04 Jun 2009 00:00:00 GMT

President Obama presented his much anticipated speech in Cairo at a time when the Middle East faces the dual challenge of a peaking youth population and a slumping economy. On NPR’s Marketplace, Navtej Dhillon describes how the region can address chronic youth unemployment through a larger reform agenda, including social sector investment and open dialogue between the state and its citizens.

The Global Economic Crisis and Mexico: Challenges for Recovery

Thu, 28 May 2009 00:00:00 GMT

As part of the "Global Economic Crisis" study series, Martinez- Diaz spoke at the Center for National as part of a discussion focused on the impact of the global economic crisis on stability in Mexico and what that means for the United States. He outlined five crucial economic challenges facing the country that its leadership must address in order to stimulate a full and sustainable recovery.

Q&A: Geithner's First Trip to China

Thu, 28 May 2009 00:00:00 GMT

U.S. Treasury Secretary Timothy Geithner's first trip to China will feature a range of discussions about global economic issues and the U.S.-China economic relationship. Eswar Prasad outlines some of the critical agenda items and the broader challenges facing these two closely intertwined economies.

Will China Lead the Global Economic Recovery?

Thu, 28 May 2009 14:00:00 GMT

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May 28, 2009, 2:00 PM to 4:00 PM

On May 28, the Global Economy and Development program and the John L. Thornton China Center hosted a panel discussion on China's stimulus package and its implications for China and the world. Carlos Pascual gave introductory remarks, and Richard Bush moderated a panel of Brookings experts including Xiago Geng, Eswar Prasad, Cheng Li and Dennis Wilder.

Tracking the Global Financial Crisis: An Analysis of the IMF's World Economic Outlook

Tue, 26 May 2009 00:00:00 GMT

The IMF's flagship publication, the World Economic Outlook (WEO), marks the most extensive effort to measure the health of the global economy since the outbreak of the financial crisis. Analyzing the WEO's projections, the Wolfensohn Center's Laurence Chandy, Geoffrey Gertz and Johannes Linn examine the countries and regions hit worst by the downturn and assess the lasting impact on the global economy.

The IMF’s Outlook for Latin America and the Caribbean

Thu, 21 May 2009 14:00:00 GMT

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May 21, 2009, 2:00 PM to 3:30 PM

Spillovers from a global crisis that began in advanced economies pose a severe test to Latin America and the Caribbean region. On May 21, the Latin America Initiative at Brookings hosted Nicolás Eyzaguirre, director of the IMF’s Western Hemisphere Department, and Steve Phillips, also of the IMF, as they presented this year’s Regional Economic Outlook: Western Hemisphere report.

The Political Implications of the Economic Crisis for the European Union

Wed, 20 May 2009 00:00:00 GMT

Justin Vaisse assesses the risks of seeing the European Union or the Eurozone break up because of the economic crisis. Far from this outcome, Vaisse surveys the reasons why Europe will resist and predicts that it will eventually bounce back to become a stronger union

Institutions, Markets and Youth in the Middle East During Global Downturn

Wed, 20 May 2009 15:03:57 GMT

Reformers in the Middle East are facing testing times, explains Navtej Dhillon, summarizing the findings of a new Middle East Youth Initiative report. Will existing challenges of youth unemployment and exclusion worsen, or will countries enact the necessary reforms to emerge stronger from the economic slowdown?

Thresholds in the Process of International Financial Integration

Tue, 19 May 2009 00:00:00 GMT

The financial crisis has re-ignited the debate about the merits of financial globalization and its implications for growth, especially for developing countries. In a new paper, Eswar Prasad and co-authors present a framework for certain economic “thresholds,” such as institutional quality, that once met, can increase the benefits of financial openness.

Shanghai as China’s Center for International Finance and Shipping

Thu, 14 May 2009 00:00:00 GMT

Throughout the 1990s, China’s official media referred to Shanghai as the “head of the dragon" because of its pivotal role in rapid economic growth across China. The term became less common as a balanced regional development strategy took over under Hu Jinto. Cheng Li examines the issue as China once again—this time pushed by the global economic crisis—sets sights on making Shanghai a "global financial and shipping center.”

Missed by the Boom, Hurt by the Bust: Making Markets Work for Young People in the Middle East

Thu, 14 May 2009 00:00:00 GMT

A new Middle East Youth Initiative report is the first of its kind to assess the early risks faced by young people during the economic downturn, calling on policy makers to help prevent an intensified jobs crisis in the region.

Protectionism on the Rise: A Report on the Use of Trade Remedies During the Global Financial Crisis

Mon, 11 May 2009 00:00:00 GMT

Despite G-20 promises to reduce trade protectionism and barriers, Chad P. Bown shows through new data and a new report that protectionism increased and spread 18.8 percent during the first quarter of 2009.

Responding to the Financial Crisis: A Conversation with Senator Bob Corker

Fri, 08 May 2009 13:00:00 GMT

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May 08, 2009, 1:00 PM to 2:00 PM

Since the passage of the Emergency Economic Stabilization Act of 2008, officials have struggled to get ahead of the evolving financial crisis. The Initiative on Business and Public Policy at Brookings hosted a conversation with Senator Bob Corker (R-Tenn), a member of the Senate Banking Committee, to discuss the federal response to both the financial crisis and the broader economic downturn.

The Swine Flu Outbreak and its Global Economic Impact

Mon, 04 May 2009 00:00:00 GMT

As swine flu continues to spread in the United States and globally, fears of a pandemic have contributed to stock market decline as many industries suffer from a lack of public confidence. Warwick McKibbin analyzes the impact on the global economy and says the next few weeks are critical to assess whether the world will see further economic decline.

Global Economic Crisis: Prosperity and Politics in Lebanon

Mon, 04 May 2009 00:00:00 GMT

Navtej Dhillon speaks with Jad Chaaban, author of “The Costs of Youth Exclusion in the Middle East,” about the resilience of Lebanon’s economy during the global recession. With elections approaching, policymakers must protect recent fiscal gains, avoid debt increases, and ensure diverse jobs are available for Lebanon’s youthful electorate. An edited transcript follows.

Action on Aid: Steps Toward Making Aid More Effective

Thu, 30 Apr 2009 00:00:00 GMT

World leaders at the G-20 London Summit and the World Bank and IMF spring meetings responded to the urgent needs of the world’s poorest countries impacted by the global economic crisis with new financial commitments and pledges. Homi Kharas argues that full recovery from the crisis and future successful development ultimately requires reducing aid volatility and enhancing aid flow coordination.

What a Flu Pandemic Could Cost the World

Tue, 28 Apr 2009 00:00:00 GMT

Fearing the swine flu outbreak may lead to pandemic, stock markets have declined and tourism, food and transportation industries are suffering from a lack of public confidence. Brookings expert Warwick McKibbin and Alexandra A. Sidorenko offer insight into what type of reactions we could see from the global economy.

The Global Financial Crisis and the Turkish Economy

Mon, 27 Apr 2009 09:30:00 GMT

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April 27, 2009, 9:30 AM to 11:00 AM

On April 27, the Center on the United States and Europe (CUSE) at Brookings hosted Turkish Minister of State Mehmet Şimşek for a discussion of the health of Turkey’s economy and the Turkish government’s recently announced economic stimulus plans.

Latin America's Challenges Beyond the Global Crisis

Fri, 24 Apr 2009 11:00:00 GMT

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April 24, 2009, 11:00 AM to 12:00 PM

On April 24, the Brookings Institution and the Andean Development Corporation (CAF) hosted a discussion on the present and future impact of the financial crisis on Latin America.

IMF Governance Reform: A Discussion on the Recommendations of the Committee

Fri, 24 Apr 2009 14:30:00 GMT

Event Information:

April 24, 2009, 2:30 PM to 4:00 PM

On April 24, the Brookings Institution hosted a conversation with Trevor Manuel and George Soros, among other distinguished panelists, on the recommendations by the Committee on IMF Governance and also discussed broader global financial challenges, including proposals for a new global reserve currency.

U.S. Foreign Policy and President Obama

Thu, 23 Apr 2009 00:00:00 GMT

Carlos Pascual and Brent Scowcroft joined Charlie Rose to discuss President Obama’s ambitious new approach to U.S. foreign policy. Pascual also commented on his new book, Power & Responsibility, and the realist perspective behind it.

Current Political and Economic Developments in Ukraine

Wed, 22 Apr 2009 15:00:00 GMT

Event Information:

April 22, 2009, 3:00 PM to 4:30 PM

On April 22, the Center on the United States and Europe at Brookings hosted Ukrainian Deputy Prime Minister Hryhoriy Nemyria for a discussion of the current political and economic developments in Ukraine.

Financial Globalization and Economic Policies

Tue, 21 Apr 2009 00:00:00 GMT

In a new working paper, Eswar Prasad and co-authors examine the economic policies that can help developing countries manage the process of financial globalization and recommend a tailored approach to balance the risks and benefits of financial integration.

An Address by the Hon. Shinzo Abe: A New Era Requires New Political Will

Fri, 17 Apr 2009 15:30:00 GMT

Event Information:

April 17, 2009, 3:30 PM to 4:30 PM

On April 17, the Center for Northeast Asian Policy Studies at Brookings hosted former Prime Minister Shinzo Abe of Japan for an address on key issues facing Japan, the United States and the world.

The Summit of the Americas and Regional Development Banks

Thu, 16 Apr 2009 09:51:07 GMT

Mauricio Cárdenas, director of the Latin America Initiative, says the focus of the fifth Summit of the Americas will be the global economic crisis. He also explains that the nations need to agree on strengthening regional development banks and that certain countries need open trade.

2009 Seoul-Washington Forum: The Future of U.S.-Republic of Korea Relations

Thu, 16 Apr 2009 09:00:00 GMT

Event Information:

April 16, 2009, 9:00 AM to 11:45 AM

On April 16, leading experts from South Korea and the United States addressed the economic and military relationship between the two countries during the third annual Seoul-Washington Forum at the Brookings Institution. Brookings Senior Fellow Richard Bush, director of the Center for Northeast Asian Policy Studies, provided introductory remarks and moderated the discussion.

Why Europe Will Emerge Stronger from the Economic Crisis

Tue, 14 Apr 2009 00:00:00 GMT

Since the economic crisis started, predictions of a break-up of the European Union or the “Eurozone” have multiplied. Justin Vaisse instead contends it is more likely that the crisis will force greater unity and solidarity on Europe, and that the EU will emerge stronger from the downturn.

Previewing the Summit of the Americas

Tue, 14 Apr 2009 10:00:00 GMT

Event Information:

April 14, 2009, 10:00 AM to 11:00 AM

The Obama administration faces a number of challenges in Latin America. The fifth Summit of the Americas offers leaders of the Western Hemisphere an opportunity to partner on a new and robust agenda that spans global economic, social, energy and climate change issues. On April 14, Brookings experts discussed the critical issues facing the leaders attending the summit and proposed recommendations for action.

The Fifth Summit of the Americas: Recommendations for Action

Mon, 13 Apr 2009 00:00:00 GMT

Leaders of the Western Hemisphere gathered in Trinidad and Tobago on April 17-19, 2009 for the fifth Summit of the Americas. In a series of commentary articles focused on the summit's agenda and key challenges, Brookings experts discuss critical economic, social, energy and climate change issues facing the leaders attending the summit and propose recommendations for policy action.

The Global Financial Crisis: Causes and Consequences

Thu, 09 Apr 2009 00:00:00 GMT

As the global economy begins to show some signs of recovery following the financial crisis, many are asking if the worst is over. In an interivew with the Australian Broadcasting Cooperation, Warwick McKibbin discusses the causes and consequences of the crisis and his optimitism for economic growth in many countries.

The G-20 and the End of Ideology: From Washington to London to New York

Thu, 09 Apr 2009 00:00:00 GMT

Upon conclusion of last week's G-20 Summit in London, U.K. Prime Minister Gordon Brown suggested that the death of the Washington Consensus has been met with the rise of a new era of consensus. Daniel Kaufmann examines the Summit's communiqué and the global response to the financial crisis, finding more evidence of a shift toward pragmatism than the advent of a new ideology.

Economic Downturn and Instability in China: Time for Political Reform?

Wed, 08 Apr 2009 00:00:00 GMT

Though China’s economy is continuing to grow, the global economic crisis is contributing to rising unemployment there and increasing the potential for instability. Former CNAPS Visiting Fellow Ray Yep writes that the Chinese government is unlikely to heed calls for political reform in this climate, but will seek to soothe the discontented by economic means.

Assessing the G-20 London Summit: Voices in Play

Wed, 08 Apr 2009 00:00:00 GMT

Following the G-20 Summit in London, Lex Rieffel examines the three distinct voices reflected in the G-20 communiqué. He observes that the mix of voices reflected in the London Summit communiqué represents substantial progress compared to the pre-crisis pattern where the voices of the G-7 countries crowded out other voices.

Tough Times Ahead for the Iranian Economy

Mon, 06 Apr 2009 00:00:00 GMT

Djavad Salehi-Isfahani questions if Iran’s next president will proceed with the difficult but necessary reforms to build healthy and viable non-oil export sectors. Or, in the hopes of gaining political points, will they opt for short-term populist policies?

The Danger of a U.S.-China Strategic "G-2" Alliance

Thu, 02 Apr 2009 00:00:00 GMT

From Japan to India, there are concerns that America's search for a solution to its worst economic crisis since the Great Depression may lead the Obama administration into not only expanded strategic economic and political dialogues with China but a full-blown strategic partnership. Dennis Wilder argues that U.S. relations with Asia's democracies can't take a back seat to cooperation with China.

The G-20 Statement: Implications for Latin America

Thu, 02 Apr 2009 00:00:00 GMT

Economic conditions in emerging and developing countries are rapidly deteriorating and many are unable to implement recommended fiscal stimulus plans. Following the G-20 London Summit, Mauricio Cárdenas discusses the implications for Latin America and how multilateral development banks will play a role in economic recovery.

What the G-20 Wants: London Summit

Wed, 01 Apr 2009 00:00:00 GMT

On April 2, international leaders, including representatives of regional organizations, will meet in London for the second G-20 Summit. The Chicago Council on Global Affairs and the Managing Global Insecurity project at Brookings have launched a special online forum asking experts and policy-makers from the G-20 nations to submit commentary on what their country hopes to accomplish at the meeting.

The London G-20 Summit: Addressing the Global Financial Crisis

Wed, 01 Apr 2009 12:43:39 GMT

On April 2, leaders of the world’s 20 largest economies will begin talks in London to focus on solutions for the global financial crisis. Johannes Linn previews the meeting and says there a number of actions they must agree on to help mitigate the economic crisis.

The Crisis is More Than Economics

Wed, 01 Apr 2009 00:00:00 GMT

At the London G-20 Summit, the leaders of the major new "great powers"—China, India and Brazil—will be prominent. Brookings scholar Colin Bradford and Martin Albrow, visiting senior fellow at the Centre for the Study of Global Governance, reflect on how the G-20 will only fill the vacuum at the center if it addresses the broader systemic crisis of responsibility and accountability that arises out of the West’s worship of the free market.

The G-20 Stimulus Split: A False Debate

Wed, 01 Apr 2009 00:00:00 GMT

Much has been made of a G-20 split on stimulus plans but is the debate warranted? In a new op-ed, Colin Bradford argues that Europe’s automatic stabilizers should count and what matters most is the total amount of global economic response, particularly for citizens suffering from the crisis.