ee At climate summits, the urgency from the streets must be brought to the negotiating table By webfeeds.brookings.edu Published On :: Mon, 16 Dec 2019 18:49:49 +0000 COP25, the annual global climate summit that ended last weekend in Madrid, offered a visible public spectacle, but little substantive progress. Part of the problem was that the summit — technically known as the 25th session of the Conference of the Parties to the United Nations Framework Convention to Combat Climate Change (UNFCCC) — was… Full Article
ee Seattle: Still Yearning To Be Free By webfeeds.brookings.edu Published On :: Thu, 02 Nov 2006 00:00:00 -0500 Borders and fences, amnesty and enforcement, earned legalization and guest workers—such is the shorthand in debating immigration today.Yet, we talk little about refugees.It may be because refugees comprise only about 10 percent of annual immigration to America. It may also be because their entry to the United States is rarely debated. Accommodating refugees represents the best ideals of this nation. Fleeing war, famine, religious or ethnic persecution, and, in some cases, former American foreign-policy engagement, refugees are the epitome of Emma Lazarus' words, engraved on the Statue of Liberty, of the "tired, poor, and huddled masses yearning to be free." A replica of said statue is set to be returned to its place on the beach at Alki this spring. And it's appropriate, as the Puget Sound region increasingly accommodates many fleeing the worst life has to offer. From 1983 to 2004, the Seattle region ranked No. 5 nationally in the resettlement of refugees, behind the big immigrant gateways of New York, Los Angeles and Orange County in California, and Chicago. However, Seattle's total foreign-born ranking is only 23rd, as refugees there comprise much more of the immigrant population than most other places around the country. The region's refugee population is probably more important to the growth of the region than in other places. And it has been growing over the past 20 years. Of the some 50,000 refugees resettled in Seattle over that period, fully one-third are from Southeast Asia—including Vietnam, Cambodia and Laos—and 42 percent come from the remnants of the USSR. Other sizable populations come from the former Yugoslavia, Somalia and Ethiopia. Metropolitan Seattle—along with Minneapolis-St. Paul, Atlanta, Sacramento and Portland—has progressively resettled more refugees over time. Now, one in five U.S. refugees is initially placed in one of these metropolitan areas, up from only 9 percent in the 1980s and 13 percent in the 1990s. And these refugees are different than in the past. Because of changes in the conflicts beleaguering our planet, refugees admitted to the United States in recent years increasingly hail from African countries confronting civil conflict. Like earlier waves, these newest refugees are determined to pursue, but unprepared for, life and work in the United States and need assistance as they settle into new communities and become active members of local schools, workplaces and neighborhoods. Like other foreign-born migrants, Seattle's refugees have been quickly plugging into the economic life of the region, from the bustling International District downtown to the polyglot scene that is the Crossroads Mall in Bellevue. Seattle's healthy local labor market has helped foster their adjustment as many refugees have found foothold jobs in hotels, restaurants, shops, health services, food production and preparation. Perhaps not long term, but these jobs are key steps on the road to economic independence and upward mobility. In any event, they are a far cry from the situations refugees left behind. Local service agencies and assistance organizations, religious and ethnically based, play a strong role in the resettlement process. These groups do the local work of connecting refugees to employers, housing, health care and language training and otherwise aid their progress toward self-sufficiency. And they are careful to do it in a linguistically and culturally appropriate way. And other partners exist. The Seattle Police Department reaches out to refugee and immigrant communities to deal with the potential downfalls of being a stranger in a strange land, specifically addressing gang and drug problems and launching efforts to prevent violence against refugees and immigrants. The state Office of the Superintendent of Public Instruction has a multiyear program to target schools with large numbers of immigrant and refugee families that aims to improve schooling outcomes for high-school students and increase graduation rates. Involving parents is key to that success, as is the specialized training that tutors receive. Programs like these—involving few tax dollars but reaping considerable economic rewards for all the region—are in the best interest of Seattle's residents, whether they are refugee newcomers or families that have lived in the region for generations. Though Seattle fights about highways and stadiums, transit and buses, the entire Puget Sound should proclaim itself in the vanguard on this issue, a beacon, like the statue, of what is right. Authors Audrey SingerDavid Jackson Publication: The Seattle Times Full Article
ee Riding the "Three I's" to Economic Recovery By webfeeds.brookings.edu Published On :: Thu, 20 Mar 2008 00:00:00 -0400 In a rare Kumbaya moment, the nation's leaders of both parties have decided that rebate checks and a flurry of other short-term measures are needed to help stave off an economic slowdown.Unfortunately, but predictably, we're hearing far less from Capitol Hill and the campaign trail about the bigger picture and the long-term challenges facing the American economy. Increasing competition from nations like China and India, the impending retirements of the baby boomers, and the highly unequal distribution of benefits from the recent expansion all signal the potential for slower U.S. economic growth in the future. These challenges, and our responses, will resonate throughout the Puget Sound region. Already, the region is one of America's economic juggernauts. According to the Paris-based Organization for Economic Cooperation and Development, the Seattle-Tacoma-Bellevue metropolitan area is the fourth-most productive in the world. And the ports of Seattle and Tacoma together form the eighth-largest gateway for foreign goods nationwide. In that strength — and the strength of other metropolitan areas around the country — are the seeds of solutions. Like the call for "three T's" in the stimulus debate — measures that are timely, targeted and temporary — policies to improve our nation's long-run economic performance and address its overhanging challenges would instead do well to focus on the "three I's" — innovation, intellect and infrastructure. Innovation has always served to propel economic growth. Here, Puget Sound companies lead the world in the fields of aerospace, software and retailing, developing new ideas and products that trump the labor-cost advantages of offshoring. Yet as a nation, we have fallen behind European competitors in innovative new-growth fields like alternative energy, where none of the world's 10 largest solar-cell manufacturers, and only one of the world's 10 largest wind-turbine manufacturers, is a U.S. company. Intellect — the knowledge and skills of our people — translates into economic growth by raising worker output and incomes and creating more of the first "I," innovation. Yet, while the United States sends the highest share of its young people to college worldwide, our rank falls to 16th when you measure who actually graduates. And though the Puget Sound region boasts one of the most-educated adult populations in the nation, the feeder system (especially Seattle's public schools) loses too many young people along the pathway to higher education. Infrastructure supports long-term economic growth in many ways. High-quality transportation infrastructure — roads, transit, rail and ports — speeds the movement of goods and people within and across markets. Yet, the Seattle area succeeds economically despite the real hurdles it faces on this front. Even taking into account high performers like Sea-Tac Airport and King County Metro, rising congestion highlights the lack of cogent plans for key corridors like Highway 520 and the Alaskan Way Viaduct, as well as the need for a renewed commitment to rail transit. To its credit, the Puget Sound region, like other metropolitan areas around the country, has tried to tackle some of these issues on its own. But, because the route to resolving our long-term challenges runs through areas like Seattle, its issues demand national attention. For instance, shouldn't the federal government — through direct investments in scientific research and favorable tax treatment for corporate investment in research and development — help put innovative regions like Puget Sound ahead of the curve in cutting-edge "green" industries? To upgrade our nation's intellectual capacity, shouldn't the federal government partner with states, localities and the private sector to support the diffusion of successful, entrepreneurial urban education models for districts like Seattle? And on infrastructure, shouldn't the federal government deploy its roughly $50 billion in annual transportation expenditures in smarter ways to help relieve congestion and promote sustainability in key trade corridors like the Seattle-Tacoma area? Once we get past the stimulus frenzy, let's have a real debate about the blueprint for bolstering America's long-term economic growth. Building on the strengths, and addressing the challenges, of the "three I's" in regions like Seattle ought to be another strategy leaders in our nation's capital can agree upon. Alan Berube is research director of the Metropolitan Policy Program at the Brookings Institution in Washington, D.C. David Jackson is a policy analyst with the program. Authors Alan BerubeDavid Jackson Publication: The Seattle Times Full Article
ee Funding the development and manufacturing of COVID-19 vaccines: The need for global collective action By webfeeds.brookings.edu Published On :: Fri, 24 Apr 2020 16:14:09 +0000 On February 20, the World Bank and the Coalition for Epidemic Preparedness Innovations (CEPI), which funds development of epidemic vaccines, cohosted a global consultation on funding the development and manufacturing of COVID-19 vaccines. We wrote a working paper to guide the consultation, which we coauthored with World Bank and CEPI colleagues. The consultation led to… Full Article
ee The unreal dichotomy in COVID-19 mortality between high-income and developing countries By webfeeds.brookings.edu Published On :: Tue, 05 May 2020 16:23:05 +0000 Here’s a striking statistic: Low-income and lower-middle income countries (LICs and LMICs) account for almost half of the global population but they make up only 2 percent of the global death toll attributed to COVID-19. We think this difference is unreal. Views about the severity of the pandemic have evolved a lot since its outbreak… Full Article
ee Figures of the week: The costs of financing Africa’s response to COVID-19 By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 16:21:13 +0000 Last month’s edition of the International Monetary Fund (IMF)’s biannual Regional Economic Outlook for Sub-Saharan Africa, which discusses economic developments and prospects for the region, pays special attention to the financial channels through which COVID-19 has—and will—impact the economic growth of the region. Notably, the authors of the report reduced their GDP growth estimates from… Full Article
ee The center right ousts leftists in Greece By webfeeds.brookings.edu Published On :: Tue, 09 Jul 2019 20:32:49 +0000 In Sunday’s Greek elections, voters handed the reins of government over to the center-right New Democracy party, ushering Prime Minister Alexis Tsipras and his leftist Syriza party out of power. While New Democracy received only about 40% of the vote, it will have a slight majority in parliament, where the party with the most votes… Full Article
ee Greek elections: The first defeat of populism in Europe? By webfeeds.brookings.edu Published On :: Wed, 10 Jul 2019 20:17:34 +0000 The liberal leader of the center-right New Democracy party, Kyriakos Mitsotakis, was sworn in as Greece’s prime minister on July 8, after last Sunday’s snap elections in which he won 39.8 percent of the votes, while the ruling populist Syriza party secured a 31.5 percent share. The electoral system, which confers a 50-seat bonus to… Full Article
ee Greece’s recovery bet By webfeeds.brookings.edu Published On :: Wed, 11 Dec 2019 21:50:39 +0000 The victory of liberal-conservatives in the snap elections on July 7 with 39.6 percent of the votes, sealed the completion of Greece's transformative journey from radical populism back to a systemic normality. The economic climate has significantly improved—although at odds with the one prevailing in Europe (Figure 1a and 1b)—however, it remains to be seen… Full Article
ee The welfare effects of peer entry in the accommodation market: The case of Airbnb By webfeeds.brookings.edu Published On :: Tue, 15 Oct 2019 13:02:33 +0000 The Internet has greatly reduced entry and advertising costs across a variety of industries. Peer-to-peer marketplaces such as Airbnb, Uber, and Etsy currently provide a platform for small and part-time peer providers to sell their goods and services. In this paper, Chiara Farronato of Harvard Business School and Andrey Fradkin of Boston University study the… Full Article
ee Meet the COVID-19 frontline heroes: Grocery workers By webfeeds.brookings.edu Published On :: Fri, 10 Apr 2020 16:27:57 +0000 Full Article
ee What America's Cities Need By webfeeds.brookings.edu Published On :: Fri, 04 Jun 2010 10:02:00 -0400 Cities across America are undergoing massive demographic change, and Philadelphia is no exception. Understanding this change, and effectively managing it, will be key to our national progress and prosperity in this decade and beyond. A new report from the Brookings Institution, "The State of Metropolitan America," describes a nation that has grown larger, more diverse, more suburban, and more educated in the first decade of this century. These characteristics offer the potential for a tremendous advantage among industrialized nations as the global economy becomes more integrated and more competitive.The Philadelphia region, for instance, is now home to 92 colleges and universities - more than the renowned concentration of higher education institutions in the Boston area. In our research on the demographic transformation of the nation, we refer to Philadelphia as a "skilled anchor" - one of 19 metro areas, including Baltimore, Rochester, N.Y., and Boston, that have made a transition from manufacturing and shipping to service-based economies. Medical and educational institutions have often driven this transformation, along with specialized manufacturing. Skilled anchors face challenges, however, due to other trends. While 32 percent of Philadelphia area residents over the age of 25 hold bachelor's degrees, only 21 percent of residents of the city itself have been educated beyond high school. That is cause for concern, especially as baby boomers begin to retire - most notably in the suburbs, where more than 40 percent of the residents are boomers and seniors. The young people who will take their place in the workforce are not completing college education at the same rate as their predecessors. This is problematic considering that median household income declined during the 2000s, and higher education is closely correlated with higher wages. Meeting the region's future workforce challenges - that is, connecting residents to high-quality jobs in the education, medicine, life-sciences, and pharmaceutical sectors - will require education policies that prepare all children for successful postsecondary education, so they can build on the economic momentum of the retiring baby boomers. As part of the national Achieving the Dream Initiative, several foundations are working together to help community colleges in Michigan, Ohio, and Indiana improve completion rates for minority and low-income students who are most at risk of dropping out and not getting the skills and credentials they need to succeed in the workforce. Other demographic trends represent challenges as well as opportunities. The Philadelphia region's foreign-born population grew by 30 percent in the 2000s, albeit from a relatively small base. Efforts to incorporate immigrants into the mainstream of economic and civic life - such as Philadelphia's language-access policy, its one-stop education office, and the region's emerging Metropolitan Caucus - are all praiseworthy. But more is required. At the same time, while solutions must be built from the ground up, the Philadelphia region can't go it alone. The federal government can't wait for megacities such as Philadelphia to work out the massive transformation under way by themselves. There are macro-level federal responses to these trends that could and should emanate from Washington. Among them are comprehensive immigration reform that includes explicit means for improving the integration of new Americans into our society and economy; a revamping of transportation and housing policy that reduces energy-inefficient sprawl, accommodates seniors, and provides access to employment centers; programs to increase postsecondary education for our emerging workforce; and a redoubling of efforts to make work pay for working families, such as the Earned Income Tax Credit. Over the past decade, between two recessions, Philadelphia has made much progress. Today, the region must capitalize on its hard-earned gains and address emerging challenges with similar conviction. Philadelphia and America are changing in front of our eyes. Public policy decisions crucial to our health, prosperity, and security need to be informed by what's happening now. We cannot afford to look for our future in the rearview mirror. Authors Bruce KatzJudith Rodin Publication: Philadelphia Inquirer Full Article
ee This Week in Economic Numbers: State and Local Edition By webfeeds.brookings.edu Published On :: Tue, 29 May 2012 11:56:00 -0400 This week will bring a cornucopia of new data, an econo-nerd's dream. Unfortunately for some of us nerds, there won't be any releases on state and local government finances. (The Census Bureau generally has to wait for all states to report and, as you can imagine, some states are laggards.) However, there will still be a lot in this week's numbers for those who follow state and local government finances, pay into state and local coffers, or consume predominantly state and local public services like education, roads, and health care. Here are a few trends worth watching: First, Tuesday's March S&P/Case Shiller house price indexes will be important for states whose fortunes are tied to real estate, especially in the West and Southwest. Macroeconomic forecasters are predicting home prices will decline slightly compared to one year ago but continue to increase month-to-month, suggesting that perhaps the market has hit bottom. That would be good news for the housing sector. However, research from Federal Reserve Board economists Byron Lutz, Raven Molloy, and Hui Shan suggests that any boon to state and local revenues would be minor. They calculate the housing bust per se generated only a $22 billion drop in taxes over three years, equivalent to roughly 3 percent of annual state and local revenues excluding federal funds. Meanwhile, the latest Census data suggest that state taxes are growing, but at a pace that is slower than usual. More worrisome, the pace appears to be moderating. In recent weeks, California, New York, New Jersey, Pennsylvania, and Rhode Island have all reported taxes coming in below projections. Also, local property taxes are likely to remain in the doldrums for some time. They tend to respond to house price changes with a delay and thus just started showing the effects of the housing bust in late 2010. Property taxes recently turned positive again, but these gains are anemic by historical standards and likely caused by rate hikes in some jurisdictions rather than improving property values. Next up this week are Bureau of Economic Analysis revisions to first quarter GDP. Macroeconomists will be attuned to how the revisions compare to advance estimates and what this portends for the recovery. They might also take note of whether these governments are detracting from growth - as they have done by an average of 0.2 percentage points in each quarter since 2008 - or contributing to it as usual. State and local watchers will be more focused on state and local spending, which unlike previous downturns, has declined in real per capita terms and not yet recovered. That leads us to the biggest number to watch this week - Friday's jobs report. State and local employment is already down by 665,000 jobs or about 3.5 percent from its pre-recession peak. Recent trends suggest that cuts may be abating, but this total masks differences across subsectors - state education has been adding jobs while losses continue in all other subsectors, especially at the local level. Ongoing state and local job losses also distinguish this recession from previous downturns in the modern era. This may be in keeping with the depths of this Great Recession. However, it's hard to imagine state and local residents aren't feeling the pinch of higher property tax burdens or lower services. To take one example, Governor Jerry Brown has proposed closing California's $16 billion budget gap by converting state employees to a four day work week and closing state parks. From a macro perspective, the fiscal tightening may be over. But that doesn't mean state and local governments aren't still a real drag. Authors Tracy Gordon Publication: Real Clear Markets Image Source: © Daniel Shanken / Reuters Full Article
ee Venezuela refugee crisis to become the largest and most underfunded in modern history By webfeeds.brookings.edu Published On :: Mon, 09 Dec 2019 20:51:31 +0000 The Venezuelan refugee crisis is just about to surpass the scale of the Syrian crisis. As 2019 comes to a close, four years since the start of the Venezuelan humanitarian crisis, 4.6 million Venezuelans have fled the country, about 16 percent of the population. The figure is strikingly similar to the 4.8 million people that… Full Article
ee Higher power to deliver: The overlooked nexus between religion and development By webfeeds.brookings.edu Published On :: Tue, 25 Feb 2020 22:12:32 +0000 Why did some world-leading economists recently meet the Pope? It wasn’t, contrary to what one might think, to confess the sins of bad economic policy. Still, when such a meeting took place in early February, the conversation was serious. Invited by Pope Francis, thought leaders and decisionmakers in economics and global finance gathered for a… Full Article
ee Wall Street Journal – May 4, 2015 By webfeeds.brookings.edu Published On :: Mon, 30 Nov -0001 00:00:00 +0000 Full Article
ee Highlight reel: Some of Brookings’s best foreign policy pieces of 2015 By webfeeds.brookings.edu Published On :: Mon, 30 Nov -0001 00:00:00 +0000 Experts in the Brookings Foreign Policy program produced a lot of impressive work in 2015—from blog posts to policy papers to book manuscripts. Mike O'Hanlon, the program's research director, gives a snapshot of some of the highlights. Full Article Uncategorized
ee Why we need antitrust enforcement during the COVID-19 pandemic By webfeeds.brookings.edu Published On :: Wed, 22 Apr 2020 15:15:47 +0000 Antitrust enforcers need to be vigilant in these uncertain and troubling times. Think about the effect on consumers from price gouging, price fixing, mergers in concentrated markets and the unilateral exercise of monopoly power. We rely on vigorous rivalry between firms—in good times and bad—to deliver us quality goods and services at competitive prices. The… Full Article
ee COVID-19 has taught us the internet is critical and needs public interest oversight By webfeeds.brookings.edu Published On :: Wed, 29 Apr 2020 17:50:42 +0000 The COVID-19 pandemic has graphically illustrated the importance of digital networks and service platforms. Imagine the shelter-in-place reality we would have experienced at the beginning of the 21st century, only two decades ago: a slow internet and (because of that) nothing like Zoom or Netflix. Digital networks that deliver the internet to our homes, and… Full Article
ee Costing Early Childhood Development Services: The Need To Do Better By webfeeds.brookings.edu Published On :: Thu, 06 Nov 2014 15:24:00 -0500 In the developing world, more than 200 million children under the age of five years are at risk of not reaching their full development potential because they suffer from the negative consequences of poverty, nutritional deficiencies and inadequate learning opportunities. Overall, 165 million children (one in four) are stunted, and 90 percent of these children live in Africa and Asia. And though some progress has been made globally, child malnutrition remains a serious public health problem with enormous human and economic costs. Worldwide, only about 50 percent of children are enrolled in preprimary education, and in low-income countries a mere 17 percent. And though more and more children are going to school, millions have little to show for it. By some accounts, 250 million children of primary school age cannot read even part of a sentence. Some of these children have never been to school (58 million); but more often, they perform poorly despite having spent several years in school, which reflects not only the poor quality of many schools but also the multiple disadvantages that characterize their early life. Ensuring that all children—regardless of their place of birth and parental income or education level—have access to opportunities that will allow them to reach their full potential requires investing early in their development. To develop their cognitive, linguistic, socioemotional and physical skills and abilities, children need good nutrition and health, opportunities for play, nurture and learning with caregivers, early stimulation and protection from violence and neglect. The Case for Early Interventions The arguments for investing in children early are simple and convincing. Early investment makes sense scientifically. The brain is almost fully developed by age three, providing a prime opportunity to achieve high gains. We know that the rapid rate of development of the brain’s neural pathways is responsible for an individual’s cognitive, social and emotional development, and there is solid evidence that nutrition and stimulation during the first 1,000 days of life are linked to brain development. Early investment makes sense in terms of equity. The playing field has the highest chances of being leveled early on, and we know that programs have a higher impact for young children from poorer families. In the United States, for example, increasing preschool enrollment to 100 percent for low-income children would reduce disparities in school readiness by 24 percent between black and white children and by 35 percent between Hispanic and white children. We also know that equalizing initial endowments through early childhood development (ECD) programs is far more cost-effective than compensating for differences in outcomes later in life. Early investment makes sense economically. Investing early prevents higher costs down the road, and interventions yield a high return on investment. There is evidence of the benefits for the individual and for society more broadly. For instance, at the level of the individual, in Jamaica children participating in an early childhood stimulation program were found to have 25 percent higher earnings 20 years later compared with children who did not participate. At the economy-wide level, eliminating malnutrition is estimated to increase gross domestic product by 1 to 2 percentage points annually, while countries with school systems that have a 10-percentage-point advantage in the proportion of students Downloads Download the paper (PDF) Authors Tamar Manuelyan AtincVidya PutchaJacques van der Gaag Full Article
ee A new global agreement can catalyze climate action in Latin America By webfeeds.brookings.edu Published On :: Fri, 29 May 2015 16:04:00 -0400 In December over 190 countries will converge in Paris to finalize a new global agreement on climate change that is scheduled to come into force in 2020. A central part of it will be countries’ national pledges, or “intended nationally determined contributions” (INDCs), to be submitted this year which will serve as countries’ national climate change action plans. For Latin American countries, the INDCs present an unprecedented opportunity. They can be used as a strategic tool to set countries or at least some sectors on a cleaner path toward low-carbon sustainable development, while building resilience to climate impacts. The manner in which governments define their plans will determine the level of political buy-in from civil society and business. The implementation of ambitious contributions is more likely if constituencies consider them beneficial, credible, and legitimate. This paper aims to better understand the link between Latin American countries’ proposed climate actions before 2020 and their post-2020 targets under a Paris agreement. We look at why Latin American climate policies and pledges merit attention, and review how Latin American nations are preparing their INDCs. We then examine the context in which five Latin American nations (Mexico, Brazil, Peru, Costa Rica, and Venezuela) are developing their INDCs—what pledges and efforts have already been made and what this context tells us about the likely success of the INDCs. In doing so, we focus on flagship national policies in the areas of energy, forests, cities, and transportation. We address what factors are likely to increase or restrain efforts on climate policy in the region this decade and the next. Latin American countries are playing an active role at the U.N. climate change talks and some are taking steps to reduce their emissions as part of their pre-2020 voluntary pledges. Latin American countries are playing an active role at the U.N. climate change talks and some are taking steps to reduce their emissions as part of their pre-2020 voluntary pledges. However, despite some progress there are worrying examples suggesting that some countries’ climate policies are not being implemented effectively, or are being undermined by other policies. Whether their climate policies are successful or not will have significant consequences on the likely trajectory of the INDCs and their outcomes. The imperative for climate action is not only based on Latin America’s contribution to global carbon emissions. Rather, a focus on adaptation, increasing the deployment of renewable energy and construction of sustainable transport, reducing fossil fuel subsidies, and protecting biodiversity is essential to build prosperity for all Latin Americans to achieve a more sustainable and resilient development. Download the full paper » Downloads Download the paper Authors Guy EdwardsTimmons RobertsMonica ArayaCristián Retamal Full Article
ee China’s economic bubble: Government guarantees and growing risks By webfeeds.brookings.edu Published On :: Mon, 11 Jul 2016 13:30:00 -0400 Event Information July 11, 20161:30 PM - 2:45 PM EDTSaul/Zilkha RoomsBrookings Institution1775 Massachusetts Avenue NWWashington, DC 20036 Register for the EventChina’s economy has achieved astonishing growth over the past three decades, but it may be undergoing its most serious test of the reform era. In his newly published book, “China’s Guaranteed Bubble,” Ning Zhu argues that implicit Chinese government guarantees, which have helped drive economic investment and expansion, are also largely responsible for the challenges the country now faces. As growth slows, corporate earnings decline, and lending tightens for small and medium-sized businesses, the leverage ratios of China’s government and its corporations and households all have increased in recent years. How desperate is China’s debt situation, and what can be done to avert a major crisis? On July 11, the John L. Thornton China Center at Brookings hosted Ning Zhu, deputy dean and professor of finance at the Shanghai Advanced Institute of Finance, Shanghai Jiaotong University. Zhu presented key findings from his research into Chinese sovereign, corporate, and household debt, and also introduced potential remedies to return China to the path of long-term sustainable growth. Following the presentation, Senior Fellow David Dollar moderated a discussion with Zhu before taking questions from the audience. Follow @BrookingsChina to join the conversation. Video China’s economic bubble: Government guarantees and growing risks Audio China’s economic bubble: Government guarantees and growing risks Transcript Transcript (.pdf) Event Materials China guaranteed bubble20160711_china_economic_bubble_transcript Full Article
ee Why we need reparations for Black Americans By webfeeds.brookings.edu Published On :: Wed, 15 Apr 2020 13:15:45 +0000 Central to the idea of the American Dream lies an assumption that we all have an equal opportunity to generate the kind of wealth that brings meaning to the words “life, liberty and the pursuit of happiness,” boldly penned in the Declaration of Independence. The American Dream portends that with hard work, a person can… Full Article
ee Women’s work boosts middle class incomes but creates a family time squeeze that needs to be eased By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 12:00:00 +0000 In the early part of the 20th century, women sought and gained many legal rights, including the right to vote as part of the 19th Amendment. Their entry into the workforce, into occupations previously reserved for men, and into the social and political life of the nation should be celebrated. The biggest remaining challenge is… Full Article
ee Democrats should seize the day with North America trade agreement By webfeeds.brookings.edu Published On :: The growing unilateralism and weaponization of trade policy by President Trump have turned into the most grievous risk for a rules-based international system that ensures fairness, reciprocity and a level playing field for global trade. If this trend continues, trade policy will end up being decided by interest groups with enough access to influence and… Full Article
ee Education may be pivotal in the 2020 election. Here’s what you need to know. By webfeeds.brookings.edu Published On :: Wed, 18 Dec 2019 19:55:40 +0000 As 2019 winds down, all eyes will soon turn to the 2020 U.S. presidential election. The cycle promises to dominate the news throughout next year, covering everything from the ongoing impeachment proceedings to health-care reform and more. While education traditionally may not be considered a top-tier issue in national elections, as Brookings’s Doug Harris has… Full Article
ee A parent’s guide to surviving COVID-19: 8 strategies to keep children healthy and happy By webfeeds.brookings.edu Published On :: Tue, 17 Mar 2020 17:20:24 +0000 For many of us, COVID-19 has completely changed how we work. Remote work might have its advantages for some, but when the kids are out of school and libraries and museums are closed, juggling two roles at once can be a challenge. What is a parent to do? As two developmental psychologists dedicated to understanding… Full Article
ee 20200428 InsideEPA Todd Stern By webfeeds.brookings.edu Published On :: Tue, 28 Apr 2020 15:53:26 +0000 Full Article
ee Why the U.S. needs a pandemic communications unit By webfeeds.brookings.edu Published On :: Wed, 29 Apr 2020 17:04:00 +0000 When policymakers consider how to respond to a public health crisis, they tend to think in terms of quarantines, medical equipment supplies, and travel restrictions. Yet they too often miss a vital factor that countries like South Korea and Singapore recognized long ago—that public communications are just as crucial. Effective communication increases compliance with public… Full Article
ee 20200506 Al Jazeera Madiha Afzal By webfeeds.brookings.edu Published On :: Wed, 06 May 2020 18:39:14 +0000 Full Article
ee The fundamental connection between education and Boko Haram in Nigeria By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 20:51:38 +0000 On April 2, as Nigeria’s megacity Lagos and its capital Abuja locked down to control the spread of the coronavirus, the country’s military announced a massive operation — joining forces with neighboring Chad and Niger — against the terrorist group Boko Haram and its offshoot, the Islamic State’s West Africa Province. This spring offensive was… Full Article
ee The SECURE Act: a good start but far more is needed By webfeeds.brookings.edu Published On :: Wed, 08 Jan 2020 14:00:51 +0000 In December, while public attention focused on impeachment, the most extensive retirement legislation in more than a decade was passed and signed into law. Spearheaded by House Ways and Means Chairman Richard Neal (D-MA), the SECURE Act of 2019 was three years in the making and designed to raise the level and security of retirement… Full Article
ee The unreal dichotomy in COVID-19 mortality between high-income and developing countries By webfeeds.brookings.edu Published On :: Tue, 05 May 2020 16:23:05 +0000 Here’s a striking statistic: Low-income and lower-middle income countries (LICs and LMICs) account for almost half of the global population but they make up only 2 percent of the global death toll attributed to COVID-19. We think this difference is unreal. Views about the severity of the pandemic have evolved a lot since its outbreak… Full Article
ee Figures of the week: The costs of financing Africa’s response to COVID-19 By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 16:21:13 +0000 Last month’s edition of the International Monetary Fund (IMF)’s biannual Regional Economic Outlook for Sub-Saharan Africa, which discusses economic developments and prospects for the region, pays special attention to the financial channels through which COVID-19 has—and will—impact the economic growth of the region. Notably, the authors of the report reduced their GDP growth estimates from… Full Article
ee CANCELLED: China-Australia Free Trade Agreement: Partnership for change By webfeeds.brookings.edu Published On :: Mon, 10 Oct 2016 16:41:39 +0000 This event has been cancelled. Throughout its year-long G-20 presidency, China highlighted the theme of “inter-connectedness,” calling on countries to deepen ties by investing in infrastructure and liberalizing trade and investment. So far, the initiative has proved easier in word than in deed. Little progress has been made on global trade agreements, or even regional… Full Article
ee The fundamental connection between education and Boko Haram in Nigeria By webfeeds.brookings.edu Published On :: Thu, 07 May 2020 20:51:38 +0000 On April 2, as Nigeria’s megacity Lagos and its capital Abuja locked down to control the spread of the coronavirus, the country’s military announced a massive operation — joining forces with neighboring Chad and Niger — against the terrorist group Boko Haram and its offshoot, the Islamic State’s West Africa Province. This spring offensive was… Full Article
ee Ghosts of Resolutions Past: The G20 Agreement on Phasing Out Inefficient Fossil Fuel Subsidies By webfeeds.brookings.edu Published On :: Fri, 14 Nov 2014 16:00:00 -0500 As much as the nostalgic might hate to admit it, a new year is coming up. And for climate change negotiators, 2015 is a big one: it’s the make-it-or-break it year for a serious, last-ditch effort at an international agreement to slow runaway climate change. A new year brings new, hopeful resolutions. Of course, just as ubiquitous are the pesky memories of past resolutions that one never quite accomplished. Some resolutions fade, understandably. But failure is less forgivable when the repercussions include the increased exploration of fossil fuels at the expense of our warming world. To avoid the most destructive effects of climate change, we must keep two-thirds of existing fossil fuel reserves underground, instead of providing subsidies to dig them up. One group not living up to its resolution: the G20 members —19 countries and the European Union that make up 85% of global GDP. At the 2009 G20 summit in Pittsburgh, the group agreed to “rationalize and phase out over the medium term inefficient fossil fuel subsidies that encourage wasteful consumption.” At the 2013 summit in St. Petersburg, they reaffirmed this resolution. Yet that same year, these countries funneled $88 billion into exploring new reserves of oil, gas, and coal. Another resolution abandoned. This year’s G20 summit will convene in Brisbane, Australia (November 15th - 16th) — a perfect opportunity to commiserate about the backsliding on the agreement and to develop a new approach that includes some means of holding each other accountable. So how can the G20 follow through on its laudable and necessary pledge? 1. Get help from the experts. A new report by the Overseas Development Institute and Oil Change International criticizes the G20 for “marry[ing] bad economics with potentially disastrous consequences for climate change.” It points out that every dollar used to subsidize renewables generates twice as much investment as the dollar that subsidizes fossil fuels. And the G20 can try harder to heed the doctor’s orders. This report outlines specific recommendations, including revamping tax codes to support low carbon development instead. 2. Set a timeline and stick to it. National timelines for fossil fuel subsidy phase out would be different depending on the governmental structures and budgeting processes of individual countries. Also, countries can utilize the timeline of the incoming international climate treaty, by including a subsidy phase out as part of a mitigation plan to be measured and reported. 3. It’s easier with friends. The G20 got it right that no one country should have to go it alone. Now it is time to strengthen its methodology for peer review of inefficient fossil fuel subsidies, and agree upon a transparent and consistent system for tracking and reporting. That said, it can also be easier to cheat with friends. The new report tracks where investments from G20 state-owned energy companies are directed. As it turns out, G20 countries continue to fund each other’s fossil fuel exploration. Instead of cheating together on their own resolution, G20 members should leverage these relationships to advance investments in clean energy. 4. Hold each other accountable. The G20 is not the only group that has committed to phase out fossil fuel subsidies. The issue has received support from advocacy groups, religious leaders, and business constituencies alike. The public will be able to better hold leaders accountable if the G20 declares its commitment and progress loud and proud. Moreover, G20 members and advocacy organizations can make the facts very clear: fossil fuel subsidies do not support the world’s poor, and the public ends up paying for the externalities they cause in pollution and public health. This accountability to addressing concerns of the people can help the G20 stand up to the fossil fuel industry. 5. If at first you don’t succeed… True, phasing out fossil fuel subsidies is no piece of cake. There is no G20 standard definition of “inefficient subsidies” or timeline for the phase out. It also hasn’t helped that countries report their own data. They can even opt out of this unenforced commitment altogether. Yet the pledge is there, as is the urgency of the issue. New Year’s resolutions take more than just commitments — they take work. This week’s G20 Leaders Summit is a wonderful place to commit to phasing out fossil fuel subsidies. Again. Authors Alison KirschTimmons Roberts Image Source: © Francois Lenoir / Reuters Full Article
ee U.S. Economic Engagement on the International Stage: A Conversation with U.S. Treasury Undersecretary Nathan Sheets By webfeeds.brookings.edu Published On :: Wed, 03 Dec 2014 08:30:00 -0500 Event Information December 3, 20148:30 AM - 9:30 AM ESTFirst Amendment LoungeNational Press Club529 14th St. NW, 13th FloorWashington, DC Register for the EventThe world’s top economies had much to discuss at the G-20 summit in Brisbane, Australia last month, including reinvigorating global growth, the reduction of trade barriers, financial regulation reforms, and global infrastructure. The G-20 meeting took place at a key time for U.S. international economic policy, as it came on the heels of President Obama’s prior stops at the APEC summit and the ASEAN summit. As the U.S. joins its G-20 colleagues in aiming to boost G-20 GDP by an additional 2 percent by 2018, there remain many questions about how G-20 countries will follow through with the goals set in Brisbane. On December 3, the Global Economy and Development program and the Economic Studies program at Brookings welcomed U.S. Treasury Undersecretary for International Affairs Nathan Sheets in his first public address since being confirmed in September. Following the recent G-20 meeting, Sheets discussed his perspectives on priorities for international economic policy in the years ahead across key areas including trade, the international financial architecture, and the United States’ evolving economic relationships. Join the conversation on Twitter using #GlobalEconomy Video U.S. Economic Engagement on the International Stage: A Conversation with U.S. Treasury Undersecretary Nathan Sheets Audio U.S. Economic Engagement on the International Stage: A Conversation with U.S. Treasury Undersecretary Nathan Sheets Transcript Uncorrected Transcript (.pdf) Event Materials 20141203_sheets_international_economic_engagement_transcript Full Article
ee Treasury Undersecretary Nathan Sheets: Global Economy Falls Short of Aspirations By webfeeds.brookings.edu Published On :: Thu, 04 Dec 2014 12:02:00 -0500 “Although we are seeing a strengthening recovery in the United States, the overall performance of the global economy continues to fall short of aspirations,” said Treasury Undersecretary for International Affairs Nathan Sheets to a Brookings audience yesterday. In the event, hosted by the Global Economy and Development program and the Economic Studies program at Brookings, Undersecretary Sheets described six “pillars” that form his offices “core policy agenda for the years ahead” to support “a growing and vibrant U.S. economy.” Strengthening and rebalancing global growth. Undersecretary Sheets noted the “persistent and deeper asymmetry in the international economic landscape,” and called for policymakers to “work together toward mutually beneficial growth strategies” such as boosting demand. Deepening engagement with emerging-market giants, such as China, India, Mexico, and Brazil. On India, for example, the undersecretary noted that “faster growth, deeper financial markets, and greater openness to trade and foreign investment promise to raise incomes, reduce poverty, and bring many more Indians into the global middle class.” Framing a resilient global financial system. “To be sustained,” he said, “growth must be built on a resilient financial foundation.” (See also Federal Reserve Governor Lael Brainard’s remarks yesterday on the Fed’s role in financial stability.) Enhancing access to capital in developing countries. “Expanding access to financial services for the over 2 billion unbanked people in the world promises to open new possibilities as the financial wherewithal in these populations grows,” he said. Promoting open trade and investment. Undersecretary Sheets explained that “Increased U.S. access to foreign markets, and the consequent rise in exports of our goods and services, is an important source of job creation in the United States.” He described current trade priorities, including the Trans-Pacific Partnership (TPP), the Transatlantic Trade and Investment Partnership (TTIP), the Information Technology Agreement (ITA) concerning China, and the Trade Facilitation Agreement (TFA) concerning India. Enhancing U.S. leadership in the IMF. Undersecretary Sheets said that Treasury and the Obama administration “are firmly committed to securing approval for the 2010 IMF quota and governance reforms.” Citing the widespread support already in place for these policies, Sheets argued that “without these reforms, emerging economies may well look outside the IMF and the international economic system we helped design, potentially undermining the Fund’s ability to serve as a first responder for financial crises around the world, and also our national security and economic well-being.” He also called on the Senate to confirm six administration nominees as executive directors or alternate executive directors at the IMF and multilateral development banks. Watch the video here: Get a transcript of Undersecretary Sheets’ prepared remarks here. Brookings expert Donald Kohn, the Robert S. Kerr Senior Fellow, moderated the discussion. The speaker was introduced by Senior Fellow Amar Bhattacharya. Authors Fred Dews Image Source: Paul Morigi Full Article
ee Can Turkey use the G-20 Summit to empower Syrian refugees? By webfeeds.brookings.edu Published On :: Sat, 14 Nov 2015 00:00:00 -0500 The flight of humans from Syria has been rapid, massive and dynamic. The number of refugees has grown from 26,000 in the first year of the war to almost 4.2 million now, four years later. It is time for bold action from the world to support Turkey and the other countries of the region hosting the vast majority of refugees. None of Syria’s neighbors – the primary hosts of refugees – expected the displacement to reach such a scale, nor for the crisis to last this long. Many believed in the early days of the Arab Spring that the oppressive regime of Bashar al-Assad would be replaced by a reformist-minded, popularly-elected government - mirroring the transition that had just taken place in Tunisia and Egypt. Instead, Syria became mired in a civil war between an ever-growing number of opposition groups and the regime, whose repression of civilians, regardless of any involvement in the crisis, has forced millions to flee in terror on either side of the country’s borders. Until recently, the overwhelming majority of the refugees were fleeing the indiscriminate attacks of the Syrian government. More recently, ISIS has been a significant source of terror, while even more recently Russia’s entry into the conflict has triggered another wave of flight. Today, the refugee populations registered in Lebanon, Jordan and Turkey total more than 4 million souls. Managing the presence of such large numbers of refugees has been costly on host countries economically, socially and politically. What was expected to be a temporary refugee influx has become a protracted crisis. With no signs of a resolution of the conflict in the foreseeable future, the refugees’ hope to return is diminishing. The massive influx of refugees into Europe, often via extremely costly and life-threatening channels, reflects the despair and harsh living conditions that many refugees feel. Syrians constitute the majority of the 800,000 migrants that have crossed into Europe this year. As the crisis spills beyond Syria’s immediate neighbors, the EU is experiencing major challenges in managing a response. It is clear that attending to refugees is not only a concern of the immediate neighborhood – but that of a much wider region. In looking at the challenges to Europe, it is important to underscore that neighboring countries have shouldered most of the burden of caring for the refugees, with inadequate assistance from the international community. Resettlement has been extremely limited, and roughly only a third of the pledges to U.N. response plans have been met. Now is the time to adopt a comprehensive approach that will offer a better future for refugees and their hosts. Attention must be paid to two areas in particular: Education and access to employment. In this regard, it will be critical to move beyond a strategy focused on humanitarian relief to one explicitly structured around sustainable development and empowerment of refugees. We need a globally-funded Recovery Program for the Middle East that brings about immediate action to mitigate the impact of the crisis on the economies and services of Syria’s neighbors. As part of that, we need to recognize the skills and income that refugees could contribute to the Turkish economy, if they were only allowed to do so. This program could not be carried out by the Turks alone, but would need the engagement of a range of actors – from the U.N. to the World Bank to the private sector and other donors. Turkey and its neighbors have generously cared for more than 4 million refugees: But as the displacement crisis enters its fifth year, this burden needs to be shared out much more fairly and effectively. Sadly, despite the desperate need for peace in Syria, we need to respond to the reality that Syrian refugees will not be able to return home for a while yet. As simultaneously the host of the world’s largest Syrian refugee population as well as host to the G-20 Summit, Turkey is in an ideal position to bring this reality to the attention of G-20 member-states – and leverage more resources to assist it and its neighbors to cope with the crisis. G-20 leaders must commit to sharing Turkey’s burden and place increased emphasis on empowering refugees to shape their own destinies and become productive members of their host societies. And it must be remembered: The majority of Syrians want to go home. Eventually they want to be able to contribute to rebuilding a stable and democratic nation for themselves and their families. But peace cannot be served while al-Assad drops barrel bombs on his people and ISIS beheads journalists on the steps of Palmyra. Our leaders must focus on a sustainable political solution to this conflict as the end goal of any plan for the region. This piece was originally published by Hurriyet Daily News. Authors Elizabeth FerrisKemal Kirişci Publication: Hurriyet Daily News Image Source: © POOL New / Reuters Full Article
ee The G-20, Syrian refugees, and the chill wind from the Paris tragedy By webfeeds.brookings.edu Published On :: Thu, 19 Nov 2015 14:15:00 -0500 The tragic and deadly attacks in Paris, the day before leaders were set to arrive in Antalya, Turkey, for the G-20 summit, underlined the divisions that Syria, its fleeing population, and the terrorists of ISIS have created, as fear and short-term political calculations seem to shove aside policies aimed at sustainable solutions to the unprecedented refugee challenge. It had started on a more hopeful note. Turkey, which chairs the G-20 this year, had placed the refugee issue on the agenda, hoping for a substantive global dialogue while looking for broad-based solutions to the crisis in Syria and the terrorism challenge. No doubt the 2 million refugees in Turkey played a big role, as President Erdogan and other officials tried to rally support for this unusual situation in a variety of G-20 and other venues. Turkey was supported by another full member of the G-20, the EU, the only non-nation state member of the group, which shrugged off its complacency when hundreds of thousands turned up on its shores in 2015. European Council President Donald Tusk and Jean-Claude Juncker, European Commission president, echoed the Turkish President in calling for a global response: “Meeting in Turkey in the midst of a refugee crisis in Syria and elsewhere, the G-20 must rise to the challenge and lead a coordinated and innovative response… recognizing its global nature and economic consequences and promote greater international solidarity in protecting refugees.” The G-20 is an imposing group, consisting of the world’s 20 largest economies, accounting for 85 percent of its GDP, 76 percent of its trade, and two-thirds of its population. Established in 1999 and growing in reach since the 2008 financial crisis, it should be a body that carries weight beyond the economic, with effective mechanisms to have impact on the global agenda. Yet, while Syria and the refugee crisis was the first time the G-20 stepped outside its usual narrower economic mandate, the agenda was quickly overtaken. The tragedy in Paris highlighted deep divisions over the refugees. Poland’s new government was the first to announce that it would stop participating in the EU resettlement plan whereby it would have accepted 5,000 refugees. Politicians from Hungary, the Czech Republic, Slovakia as well as those with a nativist message from the Nordic countries, France, Germany, and others saw an opening for tighter border controls and a much less welcoming approach to the more than 800,000 refugees that have already made their way into Europe, not to mention the many more on the way. Such views linking refugees to terrorism are not restricted to Europe but can be seen on the other side of the Atlantic, as U.S. presidential candidates and some 27 State Governors declared that Syrian refugees were not welcome. At this early date, except for a single Syria passport “holder”—a document easily acquired these days, and found near one of the suicide bombing sites in Paris—all those who died or are being sought as suspects are citizens of either France or Belgium. Clearly, there could be some who get into Europe by using the refugees as a cover but with literally thousands of Europeans fighting in Syria, the real threat emanates from the small number of home-grown extremists in Europe who have easy access to the West and a cultural and linguistic familiarity that will elude newcomers for years. This was the same scenario one saw in the Madrid, London, Copenhagen, and the Charlie Hebdo attacks in Paris earlier this year. Fear is winning out over policy The EU also appears in disarray on aiding the 4 million refugees in Jordan, Lebanon, and Turkey. This is significant since it is reduced funding and aid that is leading to the worsening of conditions in Jordan, Lebanon, and Syria, and driving many to Europe. Turkey too is reaching its limits and may potentially face a million or more new refugees if Aleppo falls. Yet funds pledged to these countries remain largely unfulfilled—of the 2.3 billion euros pledged by EU governments, only 486 million are firm government offers. The discussions between the EU and Turkey for additional aid to refugees of 3 billion euros also remain less-than-certain since such aid requires that EU countries agree to receiving and distributing asylum-seekers from Turkey. It also underlines the lack of funding for Jordan and Lebanon. In the end, the G-20 yielded little by way of concrete actions on refugees, though additional border controls, enhanced airport security, and intelligence sharing were promised. There was a call for broader burden sharing and greater funding of humanitarian efforts, as well as a search for political solutions. The G-20 also added little to the broad outlines of a potential settlement on Syria discussed in Vienna, Austria, on November 14, 2015, a day before the start of the G-20 summit. Unfortunately, these are the very things that separate G-20 members among and within themselves. The growing danger is that fear and political opportunism rather than well-thought-out polices will guide the global response to the greatest human displacement tragedy since World War II. It is precisely this fearful and exclusive reaction that ISIS seeks. Indeed, that legacy may live long after ISIS is gone. Authors Omer Karasapan Full Article
ee China’s G-20 presidency: Where geopolitics meets global governance By webfeeds.brookings.edu Published On :: Tue, 12 Apr 2016 14:45:00 -0400 For the past several years, international affairs have been analyzed through two lenses. One lens has focused on geopolitics: in particular, the question of how great power relations are evolving at a time of redistribution in the world’s economic and now also political power. The second lens considers the framework of global governance, especially the question of whether or not the existing formal and informal institutions have the tools and the ability to manage complex global challenges. China's presidency of the G-20 bridges the issues of global governance and great power relations. At a basic level, the G-20 will set a tone for how major powers attempt to tackle the challenges that confront us all. China’s assumption of the G-20 chairmanship in 2016 marks an important symbolic threshold. It is the first time a major non-Western power will chair the world’s premier body for international economic cooperation—not to mention one of the world’s most important geopolitical bodies, as well. China’s presidency comes at an important time in the substance of the G-20’s agenda, too, as a slowing Chinese economy is integral to the dynamics of an overall slowing global economy. As such, this event offers an opportunity to reflect on geopolitics and global governance—and the way forward. In short, what is the state of international order? Heading down a bumpy road? There is little doubt that we are at an important inflection point in international order. For the past 25 years, the international system—with its win-win economic structures—has been relatively stable. But this order is under challenge and threat, and it is eroding. We risk the rise of a lose-lose international system, encompassing a deterioration of the security relations between great powers, and a breakdown of the basic structures of international cooperation. That may be the worst-case scenario, but it is a plausible one. Countries must be vigilant about preventing this outcome. Even though the established powers and the so-called emerging powers (clearly China is an emerged power) may not hold the same views about the content of international order, all sides have a stake in pursuing intense negotiations and engaging in debate and dialogue. It is imperative that parties find a middle ground that preserves key elements of the existing order while introducing some degree of adaptation, such that this order does not collapse. For the past 25 years, the international system—with its win-win economic structures—has been relatively stable. But this order is under challenge and threat, and it is eroding. A version of this kind of negotiation may occur later this year. Japan’s presidency of the G-7 will begin just ahead of China's presidency of the G-20, putting important issues into sharp relief. As the older, Western-oriented tool for managing global issues, the G-7 still focuses on global economics but increasingly tackles cross-cutting and security issues. The G-20 is the newer, multipolar tool through which both emerged and emerging powers collaborate—but, so far, members have limited their deliberations to economic issues. The two processes together will reveal the tensions and opportunities for improvement in great power relations and in geopolitics. Of particular note is where political and security issues fall on the dockets of these two bodies. Although the G-20 did tackle the Syria crisis at its St. Petersburg meeting in 2013, political and security issues have otherwise not been part of the group’s agenda. But these topics form an important part of the landscape of great power politics and global governance, and they are issues for which we find ourselves in very difficult waters. Tensions between the West—particularly Europe—and Russia are running high, just as disputes are mounting in Northeast Asia. The question of America’s naval role in the Western Pacific and China’s claims of a nine-dash line are serious flash points in the U.S.-China relationship, and we should not pretend that they are not increasingly difficult to manage, because they clearly are. I believe it is shortsighted for the G-20 not to take up some of these tense security issues. These are not part of the formal agenda of the G-20, but they should be. Although many economists may disagree with me, I believe it is shortsighted for the G-20 not to take up some of these tense security issues. The group’s argument has been to focus on economic issues, for which there are shared interests and progress can be made, which is a fair point. But history tells us that having difficult, tense issues involving a number of stakeholders leads to one of two scenarios: either these issues are managed in a credible forum, or tensions escalate and grow into conflict. There is no third option. Moreover, these are not issues that can be resolved bilaterally. They have to be settled in a multilateral forum. In 2016, Japan will take up the issue of the South China Sea in the G-7—a scenario that is far from ideal, since key stakeholders will not be present. Even so, the G-20 refuses to take up security issues, leaving countries without an inclusive forum to deal with these tense security concerns. Of course, they could be raised in the U.N. Security Council, but that is a crisis management tool. We should be building political relations and involving leaders in preventing great power conflict, all of which, by and large, does not happen at the U.N. But it could happen at the G-20. With great power comes great responsibility A better dynamic is at work with respect to the issues of climate change and global energy policy. The Paris climate accords are counted as a major breakthrough in global governance. To understand how the outcome in Paris was achieved, we have to look again at great power relations. What really broke the logjam of stale and unproductive negotiations was the agreement struck between President Xi and President Obama. Their compact on short-lived climate pollutants transformed the global diplomacy around climate change, yielding the broader agreement in Paris. [G]reat power status primarily entails a responsibility to act first in resolving tough global challenges and absorbing costs. Why did the U.S.-China agreement on climate change facilitate the Paris climate accords? The United States and China did not impose a framework, nor did they insist on a particular process or stipulate a set of rules. What they did was lead. They acted first and they absorbed costs. This is the essence of the relationship between great power politics and global governance. Great power status confers a certain set of privileges, not least of which is a certain degree of autonomy. To that end, the United States has avoided multilateral rules more than other countries, and other countries may aspire to that status. But the larger point is that great power status primarily entails a responsibility to act first in resolving tough global challenges and absorbing costs. That is how great powers lead through a framework of global governance. In today’s world, where global governance will necessarily be more multipolar than in the past, we have to find new approaches to sharing the burdens of moving first and absorbing costs. That is, far and away, the most likely way to maintain a relatively stable but continuously adapting international order—one that is empowered to tackle global challenges and soothe geopolitical tensions. Authors Bruce Jones Full Article
ee U.S. Public Diplomacy For Cuba: Why It's Needed and How to Do It By webfeeds.brookings.edu Published On :: Thu, 11 Mar 2010 15:28:00 -0500 INTRODUCTION U.S. public diplomacy with Cuba — or the United States engaging with Cuban public opinion — is an intriguing subject. The principal reason for this is because it has never been tried. There was no attempt before the 1959 Revolution because the United States had no need to convince the Cuban government and people of why the United States mattered to them. In almost every aspect of life it was impossible to conceive of Cuba without the United States. Fidel Castro’s Revolution changed that. And since the Revolution, the Castro regime has carefully molded the United States as the arch enemy of the Cuban people. Successive U.S. administrations have made little effort to banish that impression while U.S. public diplomacy has been largely aimed at the Cuban-American exile community.The public diplomacy challenge for the United States with Cuba is exciting but also formidable. The Cuban Government has had many years experience of controlling access to information and shackling freedom of expression. The public diplomacy messages that the United States will send will be distorted and blocked. Nevertheless there are growing signs that Cubans on the island are accessing new technologies so information does get through, particularly to residents of the major cities. Expansion of people-to-people exchanges and a lifting of the travel ban on ordinary Americans would greatly assist any public diplomacy campaign. But public diplomacy can start without this and the Cuban government’s capacity to block messages is no argument for not transmitting them. Downloads Download Authors Paul Hare Full Article
ee Turkey and COVID-19: Don’t forget refugees By webfeeds.brookings.edu Published On :: Mon, 20 Apr 2020 18:13:49 +0000 It has been more than a month since the first COVID-19 case was detected in Turkey. Since then, the number of cases has shot up significantly, placing Turkey among the top 10 countries worldwide in terms of cases. Government efforts have kept the number of deaths relatively low, and the health system so far appears… Full Article
ee Seeking solutions for Somalia By webfeeds.brookings.edu Published On :: Thu, 29 Mar 2018 15:15:10 +0000 Despite important progress through years of international counterterrorism, counterinsurgency, and state-building assistance, peace and sustainable stabilization remain elusive in Somalia. Al-Shabab remains entrenched throughout vast parts of Somalia and regularly conducts deadly terrorist attacks even in Mogadishu. Capacities of Somali national security remain weak, and while the Trump administration has significantly augmented U.S. anti-Shabab air… Full Article
ee What should the Senate ask Secretary of State nominee Mike Pompeo? By webfeeds.brookings.edu Published On :: Wed, 11 Apr 2018 15:38:08 +0000 On March 13, President Trump nominated CIA Director Mike Pompeo to become the next U.S. secretary of state. This Thursday, Pompeo will go before the Senate Committee on Foreign Relations for his nomination hearing. What should the committee members ask? Brookings foreign policy experts offer their ideas below. ASIA Richard Bush, Co-Director of the Center for East… Full Article
ee Higher power to deliver: The overlooked nexus between religion and development By webfeeds.brookings.edu Published On :: Tue, 25 Feb 2020 22:12:32 +0000 Why did some world-leading economists recently meet the Pope? It wasn’t, contrary to what one might think, to confess the sins of bad economic policy. Still, when such a meeting took place in early February, the conversation was serious. Invited by Pope Francis, thought leaders and decisionmakers in economics and global finance gathered for a… Full Article
ee Sizing the Clean Economy: A Green Jobs Assessment By webfeeds.brookings.edu Published On :: Wed, 13 Jul 2011 14:22:00 -0400 The “green” or “clean” or low-carbon economy—defined as the sector of the economy that produces goods and services with an environmental benefit—remains at once a compelling aspiration and an enigma. As a matter of aspiration, no swath of the economy has been more widely celebrated as a source of economic renewal and potential job creation. Yet, the clean economy remains an enigma: hard to assess. Not only do “green” or “clean” activities and jobs related to environmental aims pervade all sectors of the U.S. economy; they also remain tricky to define and isolate—and count. The clean economy has remained elusive in part because, in the absence of standard definitions and data, strikingly little is known about its nature, size, and growth at the critical regional level. Seeking to help address these problems, the Metropolitan Policy Program at Brookings worked with Battelle’s Technology Partnership Practice to develop, analyze, and comment on a detailed database of establishment-level employment statistics pertaining to a sensibly defined assemblage of clean economy industries in the United States and its metropolitan areas."Sizing the Clean Economy: A National and Regional Green Jobs Assessment" concludes that: The clean economy, which employs some 2.7 million workers, encompasses a significant number of jobs in establishments spread across a diverse group of industries. Though modest in size, the clean economy employs more workers than the fossil fuel industry and bulks larger than bioscience but remains smaller than the IT-producing sectors. Most clean economy jobs reside in mature segments that cover a wide swath of activities including manufacturing and the provision of public services such as wastewater and mass transit. A smaller portion of the clean economy encompasses newer segments that respond to energy-related challenges. These include the solar photovoltaic (PV), wind, fuel cell, smart grid, biofuel, and battery industries. The clean economy grew more slowly in aggregate than the national economy between 2003 and 2010, but newer “cleantech” segments produced explosive job gains and the clean economy outperformed the nation during the recession. Overall, today’s clean economy establishments added half a million jobs between 2003 and 2010, expanding at an annual rate of 3.4 percent. This performance lagged the growth in the national economy, which grew by 4.2 percent annually over the period (if job losses from establishment closings are omitted to make the data comparable). However, this measured growth heavily reflected the fact that many longer-standing companies in the clean economy—especially those involved in housing- and building-related segments—laid off large numbers of workers during the real estate crash of 2007 and 2008, while sectors unrelated to the clean economy (mainly health care) created many more new jobs nationally. At the same time, newer clean economy establishments— especially those in young energy-related segments such as wind energy, solar PV, and smart grid—added jobs at a torrid pace, albeit from small bases. The clean economy is manufacturing and export intensive. Roughly 26 percent of all clean economy jobs lie in manufacturing establishments, compared to just 9 percent in the broader economy. On a per job basis, establishments in the clean economy export roughly twice the value of a typical U.S. job ($20,000 versus $10,000). The electric vehicles (EV), green chemical products, and lighting segments are all especially manufacturing intensive while the biofuels, green chemicals, and EV industries are highly export intensive. The clean economy offers more opportunities and better pay for low- and middle-skilled workers than the national economy as a whole. Median wages in the clean economy—meaning those in the middle of the distribution—are 13 percent higher than median U.S. wages. Yet a disproportionate percentage of jobs in the clean economy are staffed by workers with relatively little formal education in moderately well-paying “green collar” occupations. Among regions, the South has the largest number of clean economy jobs though the West has the largest share relative to its population. Seven of the 21 states with at least 50,000 clean economy jobs are in the South. Among states, California has the highest number of clean jobs but Alaska and Oregon have the most per worker. Most of the country’s clean economy jobs and recent growth concentrate within the largest metropolitan areas. Some 64 percent of all current clean economy jobs and 75 percent of its newer jobs created from 2003 to 2010 congregate in the nation’s 100 largest metro areas. The clean economy permeates all of the nation’s metropolitan areas, but it manifests itself in varied configurations. Metropolitan area clean economies can be categorized into four-types: service-oriented, manufacturing, public sector, and balanced. New York, through mass transit, embodies a service orientation; so does San Francisco through professional services and Las Vegas through architectural services. Many Midwestern and Southern metros like Louisville; Cleveland; Greenville, SC; and Little Rock—but also San Jose in the West—host clean economies that are heavily manufacturing oriented. State capitals are among those with a disproportionate share of clean jobs in the public sector (e.g. Harrisburg, Sacramento, Raleigh, and Springfield). Finally, some metros—such as Atlanta; Salt Lake City; Portland, OR; and Los Angeles— balance multi-dimensional clean economies. Strong industry clusters boost metros’ growth performance in the clean economy. Clustering entails proximity to businesses in similar or related industries. Establishments located in counties containing a significant number of jobs from other establishments in the same segment grew much faster than more isolated establishments from 2003 to 2010. Overall, clustered establishments grew at a rate that was 1.4 percentage points faster each year than non-clustered (more isolated) establishments. Examples include professional environmental services in Houston, solar photovoltaic in Los Angeles, fuel cells in Boston, and wind in Chicago. The measurements and trends presented here offer a mixed picture of a diverse array of environmentally-oriented industry segments growing modestly even as a sub-set of clean energy, energy efficiency, and related segments grow much faster than the nation (albeit from a small base) and in ways that are producing a desirable array of jobs, including in manufacturing and export-oriented fields. As to what governments, policymakers, and regional leaders should do to catalyze faster and broader growth across the U.S. clean economy, it is clear that the private sector will play the lead role, but governments have a role too. In this connection, the fact that significant policy uncertainties and gaps are weakening market demand for clean economy goods and services, chilling finance, and raising questions about the clean innovation pipeline reinforces the need for engagement and reform. Not only are other nations bidding to secure global production and the jobs that come with it but the United States currently risks failing to exploit growing world demand. And so this report concludes that vigorous private sector-led growth needs to be co-promoted through complementary engagements by all levels of the nation’s federal system to ensure the existence of well-structured markets, a favorable investment climate, and a rich stock of cutting-edge technology—as well as strong regional cast to all efforts. Along these lines, the report recommends that governments help: Scale up the market by taking steps to catalyze vibrant domestic demand for low-carbon and environmentally-oriented goods and services. Intensified “green” procurement efforts by all levels of government are one such market-making engagement. But there are others. Congress and the federal government could help by putting a price on carbon, passing a national clean energy standard (CES), and moving to ensure more rational cost recovery on new transmission links for the delivery of renewable energy to urban load centers. States can adopt or strengthen their own clean energy standards, reduce the initial costs of energy efficiency and renewable energy adoption, and pursue electricity market reform to facilitate the use of clean and efficient solutions. And localities can also support adoption by expediting permitting for green projects, adopting green building and other standards, and adopting innovative financing tools to reduce the upfront costs of investing in clean technologies. Ensure adequate finance by moving to address the serious shortage of affordable, risk-tolerant, and larger-scale capital that now impedes the scale-up of numerous clean economy industry segments. On this front Congress should create an emerging technology deployment finance entity to address the commercialization “Valley of Death” and also work to rationalize and reform the myriad tax provisions and incentives that currently encourage capital investments in clean economy projects. States, for their part, can supplement private lending activity by providing guarantees and participating loans or initial capital for revolving loan funds targeting clean economy projects using new or improved technologies. And for that matter regions and localities can also help narrow the deployment finance gap by helping to reduce the costs and uncertainty of projects by expediting their physical build-out, whether by managing zoning and permitting issues or even pre-approving sites. Drive innovation by investing both more and differently in the clean economy innovation system. With the needed major scale-up of investment levels unlikely for now, Congress at least needs to embrace continued incremental growth of key energy and environmental research, development, and demonstration (RD&D) budgets. At the same time, Congress should continue its recent institutional experimentation through measured expansion of such recent start-ups as the Energy Frontier Research Centers, ARPA-E, and Energy Innovation Hubs programs. Two worthy additional experiments would be the creation of a water sciences innovation center and the establishment of a regional clean economy consortia initiative. States can also advance the clean economy through maintaining and expanding their own RD&D efforts, perhaps by tapping state clean energy funds where they exist. All should be focused and prioritized through a rigorous, data-driven analysis of the nature, growth, and strengths of local clean economy innovation clusters. In addition, the “Sizing the Clean Economy“ emphasizes that in working on each of these fronts federal, state, and regional leaders need to: Focus on regions, meaning that all parties need to place detailed knowledge of local industry dynamics and regional growth strategies near the center of efforts to advance the clean economy. While the federal government should increase its investment in new regional innovation and industry cluster programs such as the Economic Development Administration’s i6 Green Challenge, states should work to improve the information base about local clean economy industry clusters and move to support regionally crafted initiatives for advancing them. Regional actors, meanwhile, should take the lead in using data and analysis to understand the local clean economy in detail; identify competitive strengths; and then move to formulate strong, “bottom up” strategies for overcoming key clusters’ binding constraints. Employing cluster intelligence and strategy to design and tune regional workforce development strategies will be a critical regional priority. *** The measurements, trends, and discussions offered here provide an encouraging but also challenging assessment of the ongoing development of the clean economy in the United States and its regions. In many respects, the analysis warrants excitement. As the nation continues to search for new sources of high-quality growth, the present findings depict a sizable and diverse array of industry segments that is—in key private-sector areas—expanding rapidly at a time of sluggish national growth. With smart policy support, broader, more rapid growth seems possible. At the same time, however, the information presented here is challenging, most notably because the growth of the clean economy has almost certainly been depressed by significant policy problems and uncertainties. That question is: Will the nation marshal the will to make the most of those industries? Downloads Full ReportExecutive SummaryMethodology AppendixMedia Memo Video Sizing the Clean Economy Authors Mark MuroJonathan RothwellDevashree Saha Image Source: © Albert Gea / Reuters Full Article
ee Green Jobs and the Allure of the Clean Economy By webfeeds.brookings.edu Published On :: Wed, 13 Jul 2011 09:22:00 -0400 For all the debate, speculation, and controversy that has surrounded the hoped-for growth of the so-called “clean” economy and “green jobs” one thing has been in pretty short supply: facts. For all the talk of its alluring promise, the clean or green economy remains an enigma, in large part due to the continued absence of standard national definitions and data.Today that changes with a new report assessing the current nature, size, and growth of the “green” or “clean” economy in U.S. regions. Developed by the Brookings Metropolitan Policy Program in partnership with Battelle’s Technology Partnership Practice, our report and its underlying database--entitled “Sizing the Clean Economy”--are not perfect accountings. Still, I think you will agree they offer a compelling new national and metropolitan look at a sector of the economy that has remained at once an important aspiration and a frustrating enigma. Do look over the report; watch video of our release discussion; and check out the special interactive mapping tool we’ve developed--both of which are aimed at shedding further light on the geography of this hard-to-assess sector. Over the last 18 months we’ve developed and analyzed a detailed database of establishment-level employment statistics pertaining to a sensibly defined assemblage of low-carbon and environmentally oriented industries in the United States and its metropolitan areas. Covering the years 2003 to 2010 for larger U.S. metros, the resulting information provides a new source of timely information that is both consistently applied so as to allow cross-region comparisons but detailed enough to be of some use to inform national, state, and regional leaders on the dynamics of the U.S. low-carbon and environmental goods and services super-sector as they are transpiring in U.S. regions. To be sure, localized drill-downs in particular places may capture a fuller profile in some regions. But overall, our new information provides what we believe is a plausible, useful, first-of-its-kind measure of the size and growth of the clean economy as it is occurring in the nation’s 100 largest metropolitan areas. What is more, our definition, approach, and data have been structured as much as possible to anticipate the Bureau of Labor Statistics’ own forthcoming “green jobs” count, due next year at somewhat broader levels of geography. It’s time that all U.S. regions begin to have access to some at least rough order-of-magnitude facts about the size and shape of their clean economies. Authors Mark Muro Publication: The Avenue, The New Republic Image Source: © Rick Wilking / Reuters Full Article
ee Sizing the Clean Economy: A National and Regional Green Jobs Assessment By webfeeds.brookings.edu Published On :: Wed, 13 Jul 2011 09:00:00 -0400 Event Information July 13, 20119:00 AM - 12:30 PM EDTFalk AuditoriumThe Brookings Institution1775 Massachusetts Ave., NWWashington, DC To access a curated stream of tweets from the #CleanEcon event, please visit this Storify page. Below you will find this event's full webcast archive--or, you may view one of four segments taken from that webcast. No swath of the U.S. economy has been more widely celebrated as a source of economic renewal than the “clean” or “green” economy. However, surprisingly little is really known about these industries’ nature, size and growth—especially at the regional level. As a result, debates on transitioning to a green or clean economy are frequently short on facts and long on speculation as the nation searches for new sources of economic growth. On July 13, the Metropolitan Policy Program at Brookings brought together business, economic development and political leaders to review the progress of clean industries, identify policy issues and opportunities, and consider how faster and broader growth of the clean economy could be encouraged at the national, state and regional level. A report and first-of-its-kind database, produced in collaboration with Battelle’s Technology Partnership Practice, was released at the event, providing new measures of the clean economy at the national and metropolitan levels. Also featured was an interactive web tool that allows users to track jobs, growth, segments, and other variables nationally, by state and by region. Brookings Managing Director William Antholis welcomed participants and Bruce Katz, vice president and director of the Metropolitan Policy Program, presented the findings of this major new report on the status of the U.S. clean economy. Panel discussions followed, presenting the corporate and regional perspective. After each panel, the speakers took audience questions. Go to the report » Go to the interactive web tool » Video Introducing the Metropolitan Clean EconomyPanel One: The Clean Economy, Firm by FirmPanel Two: The Clean Economy, Region by RegionClean Economy Closing DialogueGrowing the Clean Economy in Philadelphia Audio Sizing the Clean Economy: A National and Regional Green Jobs AssessmentSizing the Clean Economy: A National and Regional Green Jobs AssessmentSizing the Clean Economy: A National and Regional Green Jobs AssessmentSizing the Clean Economy: A National and Regional Green Jobs Assessment Full Article