Manufacturing Resilience: The US Drive to Reorder Global Supply Chains
Global supply chains—the network through which products and services move from initial producers to final consumers—have become increasingly complex over the past several decades. Recent disruptions caused by the COVID-19 pandemic, along with the threat of further interruptions from rising geopolitical risks, have exposed the fragility of today’s supply chains. To build more resilient networks, ...
Where Is China’s Economy Headed?
The arc of the Chinese economy over the next 10 to 15 years will depend on three sets of forces, each of which interacts with the others: (1) Domestically, the internal political economy will determine the relationship between the state and the market. (2) Externally, the relationship between China as a nation and the US-led ...
Aspen Economic Strategy Group Releases 2023 Annual Policy Volume: Building a More Resilient US Economy
Washington, DC, November 8, 2023 – The Aspen Economic Strategy Group (AESG) today released its sixth annual policy volume, Building a More Resilient US Economy. The book’s publication comes as the US faces historically high levels of debt that threaten the resiliency of the nation’s economy, including the ability to invest in key priorities and ...
Aspen Economic Strategy Group Welcomes Five New Members
WASHINGTON, DC, JANUARY 22, 2024 – The Aspen Economic Strategy Group (AESG) today announced five new members have joined the sixty-five-member, bipartisan group of distinguished leaders and thinkers who share the goal of promoting evidence-based solutions to significant challenges confronting the American economy. Established in 2017 and co-chaired by former U.S. Secretaries of the Treasury ...
Rising Childlessness is Driving the Decline in Birth Rates in the United States
The United States has experienced a dramatic decline in birth rates, starting in 2007 and continuing through recent years. This post updates and expands on findings in Kearney, Levine, Pardue (2020), The Puzzle of Falling Birth Rates in the United States, which concludes that the decline in birth rates has been fueled more by a ...
Protectionism is Failing and Wrongheaded: An Evaluation of the Post-2017 Shift toward Trade Wars and Industrial Policy
This paper evaluates the shift towards increasingly protectionist and nationalist policies carried out by the past two presidential administrations. In this paper, Michael Strain argues that the turn to such economic policies has not only been ineffective by its own standards, failing to raise employment and reduce America’s reliance on China, but also is more ...
Technological Disruption in the US Labor Market
DAVID DEMING, CHRISTOPHER ONG, LAWRENCE H. SUMMERS This paper explores past episodes of technological disruption in the US labor market, with the goal of learning lessons about the likely future impact of artificial intelligence (AI). The authors measure changes in the structure of the US labor market going back over a century in two ways. ...
Introduction: Strengthening America’s Economic Dynamism
Global tensions and domestic discontent are driving a new era of economic policymaking. Leaders in both parties are turning away from free-market principles and endorsing an increase in protectionist trade policies and more active government-directed industrial policy. Further, these disruptions come when the country’s economic and political landscapes face systemic difficulties including limited state capacity ...
The Surprising Resilience of Globalization: An Examination of Claims of Economic Fragmentation
This paper evaluates the current landscape of global trade and financial flows and proposes a set of reforms to support healthier forms of integration. Brad Setser finds that, despite the growing, bipartisan skepticism about the value of liberal trade, global economic integration remains surprisingly resilient. In fact, Setser argues, the immediate risk facing the global ...