Section: Peterson Institute for International Economics (USA)
Europe’s fear of dependence on China for critical minerals is overblown
It has become fashionable for many European policymakers to warn that Europe’s drive toward decarbonization should not lead to a new dependence on China for critical raw materials worse than its dependence on Russian natural gas that was exposed after the invasion of Ukraine.[1] Fortunately, however, a sudden loss of “critical raw...
EU shifts power sourcing away from Russia and towards renewable energy
After Russia’s invasion of Ukraine in February 2022, the European economy, particularly the energy sector, suffered as Russia steeply cut the supply of natural gas and prices rose dramatically. Since then, with the additional urgency from climate change, environmentalists teamed up with national security hawks to try to free Europe from...
The United States should use preferential market access to build sanctions coalitions
On February 24, 2022, Russia launched an unprovoked attack on Ukraine, committing war crimes and setting off the largest conflagration in Europe since the Second World War. Yet despite the obvious justification for an international response to naked aggression, the economic sanctions undertaken against Russia have garnered tepid support....
Russia’s financial position
The war in Ukraine and isolation from the international financial system continue to strain Russia’s finances, even though energy exports have allowed Vladimir Putin’s regime to keep financing itself so far. This session will take stock. Joining this episode of Financial Statements are: HOST Nicolas Véron Senior Fellow, Peterson...
Next steps for Europe and the US on their green agenda: Steel and critical minerals
In a show of unity at a time of turmoil, President Joseph R. Biden Jr. met with EU leaders at a Washington summit in October. Afterwards, they condemned Hamas, supported Israel, and vowed to back Ukraine “as long as it takes.” But the meeting was a total failure on agreeing to anything to alleviate transatlantic trade tensions. Progress is...
Russia’s invasion of Ukraine has cemented the European Union’s commitment to carbon pricing
The European Union managed to overcome Russian energy blackmail in 2022 and used the political motivation from this national security crisis to accelerate its decarbonization process. The planned dramatic increase in the scope of carbon pricing in the European Union can herald the total decarbonization of sectors covered in the EU Emissions...
WTO at a crossroads: The geopolitical threat to 75 years of multilateral trade cooperation
The US launch of the World Trade Organization’s World Trade Report 2023 takes place at the Peterson Institute for International Economics (PIIE) on October 25. This timely report, released September 12 in Geneva, analyzes the rise in skepticism over the benefits of globalization, driven by the protectionist shocks from COVID-19, the war in...
CPTPP countries should use recent momentum to expand and upgrade the trade agreement
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is back in the spotlight. In July 2023 the group welcomed its 12th and first new member, the United Kingdom, since the partnership’s creation 2018. It is a win-win achievement for the United Kingdom to join the prominent Asia-Pacific trade pact and for the...
A renewed look at Russia’s wartime economy
In late May 2022, the Financial Statements event series took stock with Iikka Korhonen on Russia’s economic outlook three months after the start of its large-scale aggression against Ukraine. A year later, this session provides an update on the cyclical and structural impact of prolonged war. Joining this episode of Financial Statements...
Lessons from the past for Ukrainian recovery: A Marshall Plan for Ukraine
I Introduction Dear members of the Committee, it is a pleasure to appear before you today to discuss the lessons from the past for Ukraine’s economic recovery, and rebirth as a full member of the group of advanced democratic market economies and the EU. Following an approaching military victory over Russia, Ukraine stands before a double...