Economics & Global Affairs

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.

In an interconnected world, cyberattacks are becoming more frequent and sophisticated. Building resilience against this asymmetric threat is critical for countries to protect their economies, critical infrastructure, and democratic institutions. However, cyberattacks do not respect borders, and no country can address this threat alone. The strength and longevity of the transatlantic partnership between the EU and the U.S. presents a unique opportunity to address this strategic threat through international cooperation. Through an analysis of cyberwarfare in the ongoing war in Ukraine, this paper proposes policy recommendations to enhance transatlantic coordination and cooperation against current and future adversaries in a new era of strategic competition. Ultimately, a stronger transatlantic partnership is critical for protecting international democratic norms, building resilience against cyber threats, and strengthening global security and stability.

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

With the looming threat of increased conflict in Ukraine, businesses around the world should be preparing now, write Paul R. Kolbe, Maria Robson Morrow, and Lauren Zabierek. Corporate security and intelligence teams have said they’re seeing an increase in cyber probes, and the U.S. Cybersecurity and Infrastructure Security Agency and the European Central Bank have both issued warnings about potential Russian cyberattacks. At this point, companies should be taking the following steps: 1) Review business continuity plans; 2) Closely examine supply chains; 3) Actively engage peer networks, vendors, and law enforcement around cyber intrusions; 4) Instill a security mindset in employees; and 5) Make sure corporate intelligence and IT teams are working closely together on solutions.

Stephen Walt looks back at the Trump administration as four years of big ambitions, a handful of successes—and many more failures. He concludes that it was more than a missed opportunity because Trump's blunders have left the United States in much worse shape than when he took office. 

As conventional wisdom goes, experts tend to rank the U.S ahead of China, U.K., Iran, North Korea, Russia, in terms of how strong it is when it comes to cyberspace. But a new study from Harvard University’s Belfer Center shows that China has closed the gap on the U.S. in three key categories: surveillance, cyber defense, and its efforts to build up its commercial cyber sector.

“A lot of people, Americans in particular, will think that the U.S., the U.K., France, Israel are more advanced than China when it comes to cyber power,” Eric Rosenbach, the Co-Director of Harvard’s Belfer Center, told CyberScoop. “Our study shows it’s just not the case and that China is very sophisticated and almost at a peer level with the U.S.”

As economies begin to orient themselves towards recovery and growth in a post-COVID-19 era, they will first need to disentangle themselves from their prior bedfellows, the state, whose courtship was necessary for survival during the pandemic.  Such bedfellow relationships have become increasingly common as government intervention is urgently needed for economic stabilization. Governments have also embraced their new role with vigor. According to the IMF, as of April 2020, countries have committed around $8 trillion to combat the pandemic and to remedy its ill effects on economies and societies. Decisions about how this money will be spent will undoubtedly recalibrate the logic of capitalism for years to come. 

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.

As the divergent experiences of the US and South Korea show, testing can be the difference between disease containment and catastrophe. Rather than relying on national governments to ensure the rapid development, production, and deployment of diagnostics during outbreaks, the world needs a global coordinating platform.