6 Items

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.

President Donald Trump, left, poses for a photo with Chinese President Xi Jinping.

AP Photo/Susan Walsh

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

A Financial Statecraft Strategy for the United States to Address the Rise of China

| July 01, 2019

Washington should adjust its coercive economic strategy to reflect a broader use of tools beyond sanctions. Given the degree of political interference in China’s banking system via formal state ownership and the indirect influence of opaque party committees, penalties imposed against the country’s banks are unlikely to produce a meaningful change in behavior.

Russian President Vladimir Putin speaks on the prospect of continued negotiations with North Korea at the International Arctic Forum in St. Petersburg, Russia, April 9, 2019.

Dmitri Lovetsky (AP)

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

Policing Terror Finance in an Era of Great Competition

| May 07, 2019

America’s sanctions strategy is increasingly burdened by the involvement of systemically important financial institutions and sovereign investors in global financial statecraft. In the post-9/11 world, Washington’s strategy was highly effective in pursuing non-state actors like al-Qaeda or ISIS, as well as small, rogue nations like Iran. Yet in addressing larger sovereigns like the Kremlin, US strategy has struggled to maintain the same effectiveness given the cross-border financial connections linking these entities to Western markets. As an era of great power competition among Washington, Moscow, and Beijing sets in, these foes will crowd out smaller, non-state actors, thus demanding an adequate response from the Treasury.