In much of the world, Covid-19 infections continue apace, but the global economy is rapidly recovering from last year’s slump. World trade volumes and industrial production were both higher in January than they have ever been, according to data collected by the Netherlands central bank. Releasing
Tax and spend
US President Joe Biden may be grabbing the global headlines by boosting world growth with his big spending and international security with his telephone diplomacy. But US Treasury Secretary Janet Yellen seems to be doing the real heavy lifting in restoring American credibility in
In this episode of COVIDcast, Roland Rajah, Lowy Institute lead economist, sat down with Pascal Lamy to discuss the future of globalisation. Lamy has served at the peak of global trade and economic governance. He was the Director-General of the World Trade Organization for 8 years, from 2005 to 2013
Australia and the UK kicked off free trade agreement negotiations on 17 June to speeches and video presentations so triumphant as to border on self-parody. Yet for all the pageantry and scorn, a trade deal between Australia and the UK is fundamentally a commonsense policy that warrants neither
Everyone – including economists themselves – jokes about economic forecasting failures. But the intrinsic difficulties are compounded for the international economic agencies, especially the International Monetary Fund and the Organisation for Economic Co-operation and Development.
Panic has now set in over the Covid-19 global pandemic. The coronavirus is spreading rapidly, especially in Europe and the US, and severe public-health measures are being put in place and are set to intensify. At the same time, economic policymakers are deploying their own emergency policy responses
The mass commercialisation of artificial intelligence, machine learning technologies and automation, combined with outsourcing to lower income countries is about to cause massive upheavals and job losses in developed economies. That’s according to my guest in this episode of Rules Based Audio,
Papua New Guinea’s next generation of leaders should take a new approach in seeking to turn around negative trends in law and order, education, and health. Emerging leaders could make bold and innovative policy interventions in key areas to unblock barriers to progress
The G20 has become a key international forum since it was set up in 1999. When Australia began its presidency of the 2014 summit in Brisbane, many commentators suggested that Australia’s chairing of the G20 would reinvigorate it. This timely book looks at what that meeting achieved and what has
In this Analysis, Howard Bamsey and Kath Rowley argue that any failure to pay proper, high-level attention to the current international climate change negotiations raises several risks to the national interest. Strong, constructive engagement in those negotiations by Australia would serve climate
In this Lowy Institute Analysis, Hugh Jorgensen and Dr Daniela Strube examine China’s approach to global economic governance. The paper argues that China will seek a greater role in governance processes, but will pursue a combination of approaches involving both existing Bretton Woods
The 12th edition of the G20 monitor contains an overview from John Lipsky on the G20’s role in global governance after the global financial crisis; a paper by Geoff Weir on the G20, Thomas Piketty, and inequality; thoughts from Hugh Jorgensen and Christian Downie on multilateral energy governance
This issue of the G20 Monitor addresses the ‘too big to fail’ dilemma of major financial institutions, combating tax evasion and avoidance through ‘base erosion and profit shifting’ (BEPS), and a report from the ‘G20 and Development’ conference hosted by the G20 Studies Centre and
Leading analysts from influential think tanks from 11 countries across the world provide their interim assessment of the Australian G20 presidency in this report. They all participated in last year’s Think20 meeting in Sydney, organised by the Lowy Institute, and are now discussing whether
G20 engagement partners from Business (B20), Civil Society (C20), Labour (L20), Think Tanks (T20) and Youth (Y20) have each provided a contribution for this issue of the Monitor. Each address how the groups are organising their contribution to the G20 process in 2014, their priorities for the
This issue of the Monitor contains reflections on Think20 2014. The Think20 involves think tanks and academics from G20 countries, and aims to feed policy ideas into the G20 process. The Monitor contains papers covering the four policy areas discussed at Think20 2014: The G20’s economic and
Relations between India and Australia have reached a new maturity, based on deepening connections between their societies, economies, education sectors and policy establishments. This positions these two democracies well to work together to advance their interests in a shared Indo-Pacific region.
At the outbreak of the global financial crisis, 2008, the G20 was widely acknowledged as helping prevent an even more serious decline in the global economy. It helped to calm the panic in financial markets and articulate a set of possible policy options to restore global stability and growth.
In this op-ed, Dr Michael Fullilove, Executive Director of the Lowy Institute for International Policy, discusses America's 'war-weariness', drawing comparisons with Roosevelt's decision to support the Allies in World War II
This issue of the G20 Monitor examines the topic of development and the G20. In line with the coverage of G20 agenda items in previous issues of the Monitor, the focus is on where the G20 can add value
This issue of the Monitor examines financial regulation and the role of the G20. It is part of a series examining specific issues on the G20 agenda. The next Monitor will cover international development and the G20.
In an opinion piece in The Australian Financial Review, Mark Thirlwell writes that the WTO needs to be prepared for the ways in which looming mega-regional deals will change the way global trade is done and that the G20 needs to do more to support the multilateral trading system
The multilateral trading system, an important contributor to global peace and prosperity, is in trouble. In a new Lowy Institute Analysis for the G20 Studies Centre, Mark Thirlwell argues that it is time for G20 Leaders to work harder to save it.
This issue of the Monitor examines international trade and the role of the G20. Over coming months the Monitor will cover in detail a number of issues that are, or should be on the G20 agenda. The next issue will deal with financial regulation and the role of the G20
One of the most significant developments in global economic leadership in recent years has been the development of the G20 Leaders’ Summit. After a positive start, particularly with the 2009 London G20 Leaders’ Summit, the G20 has more recently been criticized as losing focus and making
This report brings together four essays from Australian and Brazilian authors that collectively aim to shed some light on Brazil and its future importance to Australia and the world. It presents a series of perspectives on the modern Brazilian economy, its economic history, its ties with
Mark Thirlwell has an essay in the March-April issue of Pacific Standard that takes a look at Australia’s recent economic success and assesses whether we can keep beating the odds. Is Australia’s 21-year run of economic growth the product of a successful economic model?
Last night, the inaugural Lowy Institute-Rio Tinto China Fellow, Professor Zha Daojiong of Peking University, gave a lively presentation on Chinese investment in Australia. Professor Zha is one of China's leading international policy scholars. The talk touched on some controversial issues
In comments prepared for the Australian launch of the WEF’s Global Risks Report 2013, Mark Thirlwell takes a look at the risk outlook for the global economy, and asks whether some of the current market optimism is justified
Australia and the world needs a focused and effective G20. But the forum is in danger of losing its way. This Analysis identifies nine key lessons from the G20’s history that can help relaunch it. This should be Australia’s goal when it chairs the G20 in 2014
In this 2009 Lowy Institute working paper, Mark Thirlwell looks at some initial lessons from the 2007-2008 crisis about living in a resource-constrained world. A revised version of this working paper was published in the journal Survival in June-July 2009: A New Era of Food Insecurity? By Alan