While the global economy has overcome many of the effects of the financial crisis, slow growth, job losses in traditional sectors, and increasing inequality are testing the ability of governments in advanced economies like the United States and Germany to provide broad-based prosperity. A high-standard, rules-based international trading system and well-regulated financial markets will continue to be important drivers of economic growth and a focus of attention for governments and business alike.
State Secretary Dr. Werner Hoyer, MdB (FDP), discusses with Dr. Jackson Janes the foreign policy challenges facing Germany in the upcoming year, including Iran, the financial crisis, Belarus, and the Hungarian EU presidency.
In an essay written for Roland Berger Strategy Consultants, AICGS Trustee Dr. Josef Joffe examines the global financial outlook for 2011 and writes that despite some negative indicators, global prospects in 2011 look brighter than previous years, leading to cautious optimism for the coming year.
While American education policy has mostly been conducted at the local level, recent reform efforts have been enacted at the federal level. These reforms, however, have been conducted in ‘isolation’ and with minimal consideration for international evaluations like the OECD’s PISA studies, writes Dr. Kerstin Martens, AICGS Visiting Fellow in fall 2010. Why are such reforms carried out independently of international studies? Dr. Martens examines this issue in her essay.
As the Transatlantic Economic Council (TEC) prepares for its next meeting on 17 December 2010, it is time to inject new life into the institution, write AICGS Non-Resident Senior Fellow Dr. Stormy-Annika Mildner and Deborah Klein. In this new Transatlantic Perspectives essay written just in advance of the TEC’s meeting, the authors provide an overview of the current state of the transatlantic economic partnership, highlight the areas where trade is still impeded by barriers, and offer policy recommendations for maximizing the Council’s potential benefits.
In this Transatlantic Perspectives essay, DAAD/AICGS Fellow Katharina Gnath discusses the G20’s compromise on a large-scale reform of the IMF, including the deal that transfers two of the eight European Executive Board seats to emerging market countries. Over the coming months, Europe will have to make some tough choices on the implementation of the deal, Ms. Gnath writes, and she argues that European member states should use this opportunity to improve the EU’s international macroeconomic policy and relations with the IMF.
Two years after the financial and economic crisis began in the United States and shortly thereafter spread to Europe and Germany, the subsequent economic downturn continues to cause problems around the globe. In Issue Brief 38, “Recovering From an Economic Hangover: Lessons and Prescriptions for Transatlantic Cooperation,” AICGS Research Associate Kirsten Verclas analyzes the impact of the economic crisis on Germany, the EU, and the United States and offers policy recommendations for promoting greater cooperation in the future.
Globalization has facilitated the spread of investments and manufacturing by transnational corporations (TNCs), opening new opportunities, but also posing new challenges to their business models and highlighting the need for a restructuring of employment and production, writes DAAD/AICGS Fellow Dr. Michael Fichter. Dr. Fichter focuses on the role of labor relations in the operations and policies of German TNCs in the United States and examines if there is any convergence of labor relations policies across the Atlantic.
DAAD/AICGS Fellow Dr. Stormy-Annika Mildner examines the differing German and U.S. proposals for an IMF-regulated ‘Financial Crisis Responsibility Fee’ and argues that their implementation is anything but certain. Dr. Mildner writes that the proposals differ with regard to the institutions subjected to the fee, the determinants of the fee (risk, income, and bonuses), the goals of the levy, as well as the appropriate use of the fee revenues, but states that strong transatlantic cooperation in the early stages can result in a more coordinated and effective implementation.
The notion of Deutschland AG refers to the interconnectedness of corporate ownership and control, particularly the relationships between banks and industry, which enabled the most powerful bankers and company managers to influence corporate decision-making throughout the economy…
Dr. Sebastian Dullien, Senior Non-resident Fellow and professor at the Hochschule für Technik und Wirtschaft Berlin, argues that Germany has been one of the main causes for global imbalances and has not been very constructive in global economic cooperation. Dr. Dullien writes that the world should continue to expect this sort of behavior from the world’s third-largest economy, no matter who wins the upcoming election, as the likely coalition possibilities will not change the macroeconomic debates.