Economics

In his new book, State Capitalism: How the Return of Statism is Transforming the World, Council on Foreign Relations Senior Fellow for Southeast Asia Joshua Kurlantzick analyzes the rise in state capitalism in developing nations, including China, Russia, Singapore, Thailand, Malaysia, Indonesia, Brazil, and South Africa, among other states. He defines state capitalism as situations in which governments control or exert significant influence over at least one-third of the largest corporations in a country.

Today, nations increasingly carry out geopolitical combat through economic means. Policies governing everything from trade and investment to energy and exchange rates are wielded as tools to win diplomatic allies, punish adversaries, and coerce those in between. Not so in the United States, however. America still too often reaches for the gun over the purse to advance its interests abroad. The result is a playing field sharply tilting against the United States.

In this book, CFR Senior Fellow Jagdish N. Bhagwati and coauthor Arvind Panagriya argue that despite myriad development strategies, only one can succeed in alleviating poverty in India: the overall growth of the country’s economy. Teaching notes by Professor Bhagwati.

In this book, CFR Senior Fellow Benn Steil challenges the notion that Bretton Woods was the product of an amiable Anglo-American collaboration, and explains that it was in reality part of a much more ambitious geopolitical agenda aimed at eliminating Great Britain as an economic and political rival. Teaching notes by the author.

In this book, CFR Senior Fellow Sebastian Mallaby gives an insider’s view on the origin and evolution of hedge funds in the broader context of the history of modern finance through extensive research and numerous case studies. Teaching notes by the author.

In this book, CFR Senior Fellow Walter Russell Mead recounts how the British and their American heirs built an unrivaled global system of politics, power, investment, and trade over the past three hundred years. Teaching notes by the author.

In this book, CFR Senior Fellow Benn Steil and Robert E. Litan explore the efficacy of American efforts toward what they have coined "financial statecraft," or those aspects of economic statecraft directed at influencing international capital flows. Teaching notes by Dr. Steil.

In this book, CFR Senior Fellow Peter B. Kenen and Ellen E. Meade seek to explain why governments contemplate regional monetary integration and why some country groups are more likely than others to exercise that option, and to be successful at doing so. Teaching notes by the authors.