Research

Last week, President Trump signed a new executive order that paves the way to impose sanctions against any foreign bank that conducts business with North Korea, going well beyond current UN financial sanctions. These so-called secondary sanctions, which are penalties applied to third-party foreign banks (i.e., not directly against North Korean entities), are particularly focused on Chinese banks.

"For US regulators, 2014 was a banner year for collecting fines against sanctions violators, according to The Economist. In June, BNP Paribas—France’s largest bank, and one of the largest in the world—agreed to shell out $9 billion to the US Department of Justice for violating sanctions against Cuba, Iran, and Sudan. This past month, US regulators slapped Germany’s Commerzbank—the country’s second-largest bank, with a similar global presence—with a $1 billion fine, after launching an investigation into its dealings with sanctioned countries. The increases in fines have signaled an aggressive, zero-tolerance policy toward violators, as well as a willingness to use the extraterritorial provisions of sanctions, which allow regulators to punish foreign-based banks..."

"The rise in technocratic leadership in Africa is directly related to the emphasis that the continent is placing on economic transformation. But more important, there is growing preference for blending democratic change with managerial competence in running public affairs. This suggests a different type of governance system that combines western party politics and eastern technocracy. It would appear from these nascent trends that Africa is starting to shape its economic future by borrowing ideas from around the world and adapting them to local needs."

Kim Jong-eun's New Year's Day address signaled a willingness to ease tensions with South Korea and focus on economic development, but how credible is this message? Project on Managing the Atom Associate and MIT Stanton Nuclear Security Junior Faculty Fellow John Park analyzes the address in an HKS PolicyCast.

The following report presents a consensus view of the members of a bipartisan study group on the U.S.-Japan alliance. The report specifically addresses energy, economics and global trade, relations with neighbors, and security-related issues. Within these areas, the study group offers policy recommendations for Japan and the United States, which span near- and long-term time frames. These recommendations are intended to bolster the alliance as a force for peace, stability, and prosperity in the Asia-Pacific region and beyond.

"The surge in interest in Africa by China and India requires a different approach that does not view the continent as a helpless victim of foreign influence. To that end African countries are seeking to replace classical foreign policy that focuses on access to markets in return for raw materials with a new vision of economic diplomacy."

"The continuing warnings about American decline represent a kind of atavistic Cold War mindset, in which every military advance in another nation is by definition a threat to the United States and its allies. Have we become so accustomed to our great fortune that economic or military developments in countries that have not yet completely mastered basic human services like clean water, literacy and roads represent our own 'decline'?"

The Winter 2008-09 issue of the Belfer Center newsletter features recent and upcoming research, activities, and analysis by Center faculty, fellows, and staff on critical global issues. "What should the next president do first?" is a question raised in this issue. Belfer Center experts respond to the question with advice on what they consider priority issues of national security, climate/energy policy, and the economic crisis.

The Winter 2008-09 issue also features take-aways from the Center’s recent “Acting in Time on Energy Policy” conference hosted by the Energy Technology Innovation Policy research group. In addition, it spotlights Belfer Center Faculty Affiliate Richard Clarkeand new Kennedy School Professor Nicholas Burns.