9 Items

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.

An investor monitors stock prices in Beijing after U.S. President Donald Trump re-imposes sanctions on Iran, May 19, 2018.

Ng Han Guan (AP)

Analysis & Opinions - The Diplomat

To Manage Great Power Competition, America Needs a New Economic Patriot Act

| Apr. 17, 2019

Shifts in the global economy have altered Washington’s sanctions calculus. In today’s era of great power competition, priority threats are no longer rogue states with little economic clout but nations with systemically important financial institutions and economic linkages. Russia and China top the list.

America’s sanctions strategy, however, hasn’t evolved to meet this challenge. Section 311 of the Patriot Act remains a powerful tool, but its collateral costs are too high to confront banks that are too big to fail. It’s time for a new Economic Patriot Act that can provide the scalpel-like instruments Washington needs to thwart our adversaries with speed and precision.

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. 

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Press Release - Belfer Center for Science and International Affairs, Harvard Kennedy School

Michael B. Greenwald Named Fellow at Harvard Kennedy School’s Belfer Center

| July 12, 2018

Harvard Kennedy School’s Belfer Center for Science and International Affairs has named Michael Blake Greenwald a Fellow. While at the Kennedy School, Greenwald, who has served the U.S. government in several senior diplomatic roles, will lecture, conduct research, and engage with students on a range of issues including economic sanctions, illicit finance, national security, intelligence, and global finance.

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News - Atlantic Council

Bridging the Gulf in the GCC

| May 11, 2018

Belfer Center Visiting Fellow Michael Greenwald, senior advisor to Atlantic Council President and Chief Executive Officer Fred Kempe, was interviewed by Rachel Brandenburg, director of the Scowcroft Center for Strategy and Security’s Middle East Security Initiative at the Atlantic Council, about the implications of the ongoing feud for the Gulf states and US interests. Greenwald is a former US Treasury attaché to Qatar and Kuwait.