7 Items

Workers wearing personal protective equipment builds splash guards during a mass manufacturing operation to supply New York City government with protection to distribute against COVID-19.

AP Photo/John Minchillo

Analysis & Opinions - Atlantic Council

What COVID-19 Means For the United States’ Economic and Financial Statecraft

| Mar. 30, 2020

It is already evident that coronavirus (COVID-19) has triggered a deeper recession than that of the 2008-2009 Global Financial Crisis. Much like the latter, monetary authorities at the US Federal Reserve have undertaken unprecedented actions to support liquidity in global markets. These steps have included support for domestic debt markets, including a recent expansion in the corporate bond market, as well as swap lines targeting the global dollar shortage. Beyond these moves, the broader policy response during and after the COVID-19 outbreak may drive longer-term changes in the global trading system.  

Stock prices are displayed at the New York Stock Exchange, Wednesday, Sept. 18, 2019.

AP Photo/Mark Lennihan

Analysis & Opinions - Belfer Center for Science and International Affairs, Harvard Kennedy School

The Geoeconomic Superstorm Threatening the Globe’s Three Financial Hubs

| Sep. 30, 2019

While New York, London, and Hong Kong will continue to play outsized roles in international business, their current privileged status may be more precarious than it seems.

A worker holds a sign promoting a sale for Huawei 5G internet services at a mobile phones retail shop in Shenzhen in south China's Guangdong province, Tuesday, Dec. 18, 2018. The chairman of Huawei challenged the United States and other governments to provide evidence for claims the Chinese tech giant is a security risk as the company launched a public relations effort Tuesday to defuse fears that threaten its role in next-generation communications.

(AP Photo/Andy Wong)

Analysis & Opinions - Belfer Center for Science and International Affairs, Harvard Kennedy School

The Future Financial War with China

| Jan. 02, 2019

The detention of Huawei Chief Financial Officer Meng Wangzhou last month has electrified Sino-American tensions, making 2019 a portentous year for debt markets. Her employer, Huawei, has been the target of China hawks’ ire dating back to the early 2010s, amid scandals tied to sanctions evasion in Iran and possible concerns about espionage. Yet in the buzz about its ties to the People’s Liberation Army, the company’s deep and extensive dollar exposures have received little coverage.

 

 

 

Photo of people crossing bridge in Shanghai that shows stock prices.

(AP Photo/Paul Traynor)

Analysis & Opinions - Belfer Center for Science and International Affairs, Harvard Kennedy School

From Silicon Valley to Shenzhen: Dollar Exposures in Chinese Fintech

| Dec. 17, 2018

In the post-9/11 era, Washington has waged innovative campaigns against terrorism finance, sanctions evasion, and money laundering. Leveraging America’s heavyweight status in the international financial system, the United States Treasury has isolated and bankrupted rogue regimes, global terrorists, and their enablers. As financial technology transforms global business, the traditional financial system faces new competition across a suite of offerings, ranging from brokerage services to peer to peer lending. In no area is this clearer than in mobile payments, where a global hegemon lies ready to exercise its weight, and it is not the United States.