Economics & Global Affairs

Joseph Nye writes that Washington's strategy towards Beijing should be to avoid either a hot or cold war, co-operate when possible and marshal its assets to shape China's external behaviour. This can be done through deterrence and a strengthening of both alliances and international institutions.

Economic historian Emma Rothschild, the Jeremy and Jane Knowles Professor of History at Harvard, lauded the efforts of young scholars to discover local solutions to mitigate the impacts of global climate change in the latest episode of “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program.” The podcast is produced by the Harvard Environmental Economics Program.

Mohammad Tabaar analyzes Iran's strategy to weaken Israel and divide the Middle East.

Oil prices have been persistently high over the past two years , at times breaking above $120 a barrel. According to economic theory, that should be good news for climate change. But the political reality is more complicated. Climate policies are increasingly the casualties of high oil prices.

Johson and Wolfram argue that imposing a price cap on Iranian oil exports will diminish the benefits petrostates have in times of conflict. 

Joseph Nye writes that if the United States maintains its alliances, invests in itself, and avoids unnecessary provocations, it can reduce the probability of falling into either a cold war or a hot war with China. But to formulate an effective strategy, it will have to eschew familiar but misleading historical analogies.

Peaking great powers facing a slowdown in growth are likely to try to violently shake up the world. These findings amend classic theories of great power conflict. They help explain some of the most consequential geopolitical events in modern history. And they have ominous implications for contemporary Chinese foreign policy. 

Calder Walton says both seek to topple the United States from atop world stage, with China's blend of money, influence, all-hands-on-deck approach posing the greater threat.

The International Energy Agency predicted last month that demand for global oil for transport will peak around 2026, plateau for all uses by 2028, and possibly hit a zenith by the end of the decade. Harvard experts say the forecasts track with what’s going on in the developed world, but the energy needs of less-wealthy nations pressing to develop their economies could foil expectations for years to come.

Joseph Nye explores what a second Donald Trump presidency may mean for U.S. foreign policy and the world? While the man himself is unpredictable, his first term and his behavior since losing re-election in 2020 offer plenty of clues, none of which would be comforting to America's allies.