March 31, 2011 View this newsletter as a web page on CFR's website. The Economic Challenge In a new CGS Working Paper, Nobel Laureate A. Michael Spence, now a distinguished visiting fellow at CFR, and NYU's Sandile Hlatshwayo present new analysis of job growth in the tradable and nontradable sectors of the U.S. economy. They argue that globalization has diminished employment opportunities in the United States and widened inequality. Moreover, they argue that these trends are likely to worsen in the coming years. Adam Segal argues that the future of U.S. competitiveness depends on strengthening social, political, and cultural institutions that support innovation. Video: 3/16 "World Economic Update" with Peter Fisher, Desmond Lachman, and Peter Orszag Chart Book: The Economic Recovery in Historical Context Government Activism In the Spring 2011 issue of International Finance, edited by CFR's Benn Steil, former Federal Reserve chairman Alan Greenspan argues that the economic recovery has been hampered by the exceptional level of government activism over the past two years. Video: 3/15 "The Economic Costs of Government Activism" with Alan Greenspan Nuclear Energy Michael A. Levi writes that a backpedaling on nuclear power could throw a wrench into U.S. climate change policy. Audio: 3/24 "Japan's Nuclear Crisis and the Future of the Energy Industry" with Michael A. Levi Interview: Japan's Crisis for Nuclear Power Backgrounder: Nuclear Power Expansion Challenges Japan Sebastian Mallaby says that Japan's central bank will emerge from its multiple disasters looking stronger than before. Monetary activism has allowed Japan's payment system to keep on functioning and the very existence of a central bank ready to intervene has helped to contain disruptions to the value of the yen. Amity Shlaes writes that in addition to offering aid, the best way the United States can help Japan is to welcome it into free trade agreements. Audio, Transcript: 3/14 "Japan's Earthquake: Political, Economic, and Energy Implications," with Michael Levi and Sheila A. Smith Interview: Japan's Economic Aftershocks China China's new five-year work plan includes a familiar list of growth and energy targets, an emphasis on technology investments, and special concerns about resource constraints and corruption, says CFR's Elizabeth C. Economy. Joshua Kurlantzick believes that in the short term China need not fear protests similar to those sweeping over the Middle East. Since the 1989 Tiananmen protests, the Chinese Communist Party has co-opted the urban middle class. Unlike in the Middle East, China's economy continues to boom. Asia Unbound: China Isn't Egypt   CGS Website For the latest from the Maurice R. Greenberg Center for Geoeconomic Studies, visit the CGS webpage at www.cfr.org/cgs.     Must Reads Jagdish N. Bhagwati says that a failure of the Doha trade talks would deal a lethal blow to the credibility and future of the World Trade Organization. Amity Shlaes criticizes the cartel-like privileges of U.S. schools. Matthew Klein discusses the costs of youth unemployment.     Meetings Audio: 3/24 "The Post-Washington Consensus" with Nancy Birdsall and Francis Fukuyama Video, Transcript: 3/17 "A Conversation with Richard Trumka" Video, Transcript: 3/9 "How Should the United States Address Its Chinese Trade Imbalance?" with Eswar Prasad, Peter Schiff, and Shang-Jin Wei Video, Transcript: 3/2 "A Conversation with Thomas M. Hoenig" Video: 2/28 "Global Solutions for the Global Economic Crisis" with Justin Yifu Lin     Publications Working Paper: Improving Energy Market Regulation Policy Innovation Memo: Managing the World's Dollar Dependency CFR Book: Advantage: How American Innovation Can Overcome the Asian Challenge Chart Book: Foreign Ownership of U.S. Assets Chart Book: Foreign Exchange Reserves in the BRICs     News from CFR.org Interview: Oil Price Shocks and Global Recovery Backgrounder: Oil Market Volatility Expert Roundup: Immigration Reform and U.S. Economic Performance Analysis: Corruption Threatens India's Growth     About the CGS The Maurice R. Greenberg Center for Geoeconomic Studies (CGS) works to promote a better understanding among policymakers, scholars, journalists, and the public about how economic and political forces interact to influence world affairs. Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies Edward Alden, Bernard L. Schwartz Senior Fellow Caroline Atkinson, Adjunct Senior Fellow for International Economics Jagdish N. Bhagwati, Senior Fellow for International Economics James P. Dougherty, Adjunct Senior Fellow for Business and Foreign Policy Steven Dunaway, Adjunct Senior Fellow for International Economics Michael Hodin, Adjunct Senior Fellow Michael A. Levi, David M. Rubenstein Senior Fellow for Energy and the Environment Peter R. Orszag, Adjunct Senior Fellow Amity Shlaes, Senior Fellow for Economic History Matthew J. Slaughter, Adjunct Senior Fellow for Business and Globalization A. Michael Spence, Distinguished Visiting Fellow Benn Steil, Director of International Economics Francis E. Warnock, Adjunct Senior Fellow for International Finance EXPLORE CFR's WEBSITE:     Regions      Issues      Experts     Publications     About CFR Find CFR on Twitter and Facebook. Was this message forwarded from a friend? 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