As the BRICS hold their seventh summit in Ufa, Russia this week, international economics fellow Russell Green and Rice student Elisabeth Kalomeris offer advice on designing the framework for the organization’s New Development Bank.
As Congress resumes work this spring on a bill granting Trade Promotion Authority to President Obama for completion of the Trans-Pacific Partnership trade pact, many members have sought inclusion of a chapter on currency manipulation. Currency manipulation is a legitimate concern. However, countermeasures require clear, objective identification of currency manipulation. Both the IMF and the U.S. Treasury Department have mandates to identify currency manipulation, yet neither has done so in the past 20 years. If it can be done, why has it not happened more often?
In this issue brief, Russell Green, Will Clayton Fellow in International Economics, reviews the difficulties of operationalizing a currency manipulation chapter and argues that the difficulty of identifying currency manipulation suggests serious political obstacles to implementation.
In a two-part blog, Russell Green, Will Clayton Fellow in International Economics, examines whether a slowdown of China's powerhouse economy will impact the country's global agenda.
Anticipation is growing as India's Prime Minister Narendra Modi prepares to release his government’s annual budget. International economics fellow Russell Green advises Modi to go big.
A new “Make in India” campaign to “transform India into a global manufacturing hub” aims to use manufacturing as a vehicle for job growth. Is this strategy realistic? This paper helps answer the question by describing the job growth potential of the Indian economy. Formal-sector manufacturing demonstrates the most potential for job growth under a more supportive policy regime. The paper models future employment paths for India for the next 20 years. Assuming sufficient reforms to generate East Asia-style manufacturing growth, the impact on employment and output is substantial, even if the campaign target of 100 million new manufacturing jobs remains difficult to achieve. The paper then describes a set of reforms sufficient to unleash such a manufacturing growth boom.
A new analysis reveals substantial global health gains for AIDS, malaria and neglected tropical diseases that were first targeted by the administration of President George W. Bush in 2003 and then greatly expanded by the Obama administration. Beginning in 2016, an incoming administration will have opportunities to build on this legacy to control and eliminate poverty-related diseases — including those with pandemic potential — and to assert American leadership while being mindful of fiscal constraints.
A growing number of Brazilian companies are expanding internationally. These companies are part of the transformation reshaping the global investment environment. They have shifted their international strategy from being based exclusively on exports to becoming foreign investors in countries such as Peru, Chile, Colombia and Mexico.
India’s Prime Minister Narendra Modi, once barred from entering the U.S., is getting a rock star welcome on his first trip here since being elected in May. “Am I the only India follower who is bored with Modi’s spectacle of a U.S. visit?” asks international economics fellow Russell Green. “The glitz is fun, but I am an economic policy wonk, and from my perspective, there is little to capture the imagination.”
The BRICS clearly want something tangible to demonstrate their global prominence and the power of non-Western values. Russell Green examines the critical issues that must be resolved before the BRICS bank can open its doors.
