The West Should Develop the Trans-Caspian Trade Corridor
Development of the Trans-Caspian corridor would shift trade and energy routes between Europe and Asia to favor Western commercial and strategic interests. Over the past decade, global trade infrastructure has been transformed by China’s economic rise and its strategic investments in trade routes. Central Asia, the “belt buckle” on China’s Belt and Road Initiative, is […]
Time to Repeal Jackson-Vanik in Central Asia
Jackson-Vanik was a cornerstone of the US response to the Soviet Union during the Cold War. But it is time for Congress to remove this outdated policy in order to strengthen relationships with Central Asia and present a US commercial alternative to Russia and China. The Jackson-Vanik Amendment to the Trade Act of 1974 denied US […]
Compete with China by Reviving the Generalized System of Preferences
The United States needs to urgently reinstate the Generalized System of Preferences (GSP), the country’s largest and oldest trade preference program. First implemented in 1976, GSP was designed to facilitate economic growth in developing countries by allowing certain products, such as jewelry, carpets, some agricultural and fishery products, and many types of chemicals and minerals, […]
Israel’s Economy After Nine Months of War: A Fragile Recovery
On a recent Saturday afternoon walk in Jerusalem’s Old City, usually bustling in summer high season, most shops were shuttered. Only a few intrepid Korean pilgrims were visible, along with small groups of Jews holding prayerbooks headed to the Western Wall. The war has largely scared off tourists, with knock-on effects for subsidiary businesses like […]
The Failure of the "Economic Peace" Model in the Middle East
On September 26, 2021, Israel’s then Prime Minister Naftali Bennet took the podium at the UN General Assembly and laid out a grand vision for the Middle East. It was a modernist, advanced, technological future (as befitted Bennet, a former high-tech entrepreneur) in which Israel would play a major role – focused upon a world […]
Southeast Asia’s Growing Importance to Global Trade
The world is in the initial stages of an evolution in the structure of global trade. While popular narratives about the era of globalization described a wide dispersion of trade flows and supply chains to all corners of the world, the reality was different. Global trade remained very concentrated. For example, close to 40 percent […]
World Energy Markets:
Why They Have Barely Responded to Date to the Middle East Conflict
Why They Have Barely Responded to Date to the Middle East Conflict
Once upon a time, violent turmoil in the Middle East would spike oil prices, sending the global energy markets and the economies of industrial countries into disarray. This was the case of the 1973 Arab-Israel war, when Middle East oil producers deployed an oil embargo, shifted the balance of market power from buyers to sellers […]
Israel’s Embattled But Resilient Economy
I spoke recently with a friend, Sergeant Major Amichai, who was home for a short break after nearly two months of reserve duty in the Israeli army. Amichai owns a small tour-guiding business in Jerusalem, renting Segways and other vehicles, called SmartTours. It relies heavily on domestic and international tourism. Shortly after Hamas attacked southern Israel […]
Egypt's Economic Decay and its Implications
In the summer of 2013, Major-General Abdel Fatah el Sisi overthrew the Egyptian government and promised the people a renaissance. Instead, Egypt is decaying. The country has always been poor, but Egypt is now in the worst economic shape in a generation. Poverty and income inequality remain stubbornly high as Egyptians grapple with record inflation […]
Looking Beyond the War: Planning for Ukraine’s Reconstruction
The outcome of Russia’s war on Ukraine and the provisions of a final settlement are as yet unknown. Ukraine may prevail in pushing Russia back to the 1991 borders, as President Zelenskyy intends. The conflict might result in a settlement with a divided Ukraine, both countries exhausted from the effort. It could grind on for years […]
The Abraham Accords: Anchoring Peace in Contested Waters
This summer, Israel and Lebanon have come closer than ever to settling a decades-long maritime border dispute. A resolution of this dispute would not only give an economic boost to the region but also would help meet Europe’s energy needs.
How to Fix Ukraine’s Economy
The Ukrainian economy is in dire straits after Russia’s attack on the country on February 24, with current forecasts of a 35% drop in gross domestic product (GDP) in 2022. The primary challenge is to stop Russia’s aggression, which is costly, but the next issue is to rebuild Ukraine and complete its post-communist reforms, which […]
Domestic Politics and Deglobalization
What’s Next for Global Economic Governance?
The Diminished Role of Economic Sanctions
Tel Aviv University’s Tal Sadeh explains how globalization of markets allows countries to evade economic sanctions, reducing their effectiveness.
The True and Sad Story of Israel’s Economy and How to Change It
The narrative of Israel being a “Startup Nation” ignores troubling and persistent macro-economic trends that place it at the bottom of the rankings among Western peers.
