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Geo-economics Publications

The GPI draws on both a rich pool of international thinkers, academics, and professionals from diverse backgrounds, including international affairs, banking and finance, industry, technology and science, media and international organisations. What we all have in common is a strong belief that new and fresh ideas are needed for a rapidly changing world, and a shared dedication to devising innovative yet practical policy solutions to that can make a real difference.

The Federal Reserve & the Eurodollar System: Stabilisation or Takeover?

Key Takeaways The Eurodollar system remains a predominantly private, offshore network of dollar credit, but it can no longer be understood as wholly beyond the reach of the Federal Reserve. Since 2008, dollar shortages in that system have repeatedly drawn...
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The Future of Wholesale CBDCs in a Tokenizing and Trumpian World

Globally, the private sector is moving towards expanding the growth of tokenized assets trading, using private money channels (stablecoins) as payment systems. At the same time, the public sector, often central banks in alliance with private sector partners, is engaged...
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New Washington Consensus in a Trumpian World

In April 2023, Jake Sullivan, in a speech to the Brookings Institute, formally announced the replacement of what had become known since the1990s as the Washington Consensus with a New Washington Consensus. This paper defines and briefly describes the original...
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Monetary Policy and Inflation: Are Central Banks Failing?

This article concentrates on an analysis of the UK monetary policy operated by the Bank of England in attempting to control inflation, though some of the points made may have wider validity to other central banks. The essay develops its...
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Weaponising The Federal Reserve Bank Swap Arrangements

The US Treasury Secretary Scott Bessent’s 22 April statement to the Senate Appropriations Subcommittee on Financial Services and General Government suggests a significant shift in US policy towards Bank Swap Arrangements (BSAs), the international role of the Fed, and indeed...
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Resetting the Dollar: Gold Revaluation, Stablecoins, and the Reinvention of US Monetary Power?

The United States stands at a critical juncture in the evolution of the global financial order. For decades, the dollar’s dominance has rested on two pillars: the unrivalled liquidity of the US Treasury market and the political confidence that America’s...
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The Changing Structure of the Global Financial Safety Net

Marginalisation of Multilateral Crisis Finance? Since the 2007-8 Global Financial Crisis (GFC) the Global Financial Safety Net (GFSN) has both significantly expanded and diversified. This has seen a steep decline in the IMF’s share of international liquidity crisis funding capacity,...
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EU-India Renewed Strategic Partnership and Its Significance in the Shifting Global Landscape

The EU-India renewed strategic partnership marks a pivotal shift amid US isolationism under President Trump and rising Indo-Pacific tensions. This new Fondation Robert Schuman report, written by GPI Associate Director and Head of the Europe Programme, Karine de Vergeron, analyses...
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Bangladesh-Myanmar Relations and the Rohingya Challenge: Security and Diplomatic Implications

Bangladesh-Myanmar relations are shaped by a complex mix of history, geography, trade, security issues, and humanitarian concerns such as the Rohingya crisis. Can economic and diplomatic engagements change this dynamic? Myanmar was the sixth nation to recognise Bangladesh as a...
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Trump, Miran, and the Mar-a-Largo Accord: A Brief Consideration

Introduction Until recently, partly due to Gillian Tett, the 2024 economic policy paper by Stephen Miran appeared to have been read by few mainstream economists. However, it had been the topic of much discussion within one of the three Maga...
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China-Bangladesh Relations 50 Years On

On 4 October 1975, China officially established diplomatic relations with Bangladesh. Five decades later, both countries have made significant advancements in areas of economic and defence collaboration. 2025 marks the 50th anniversary of the establishment of China-Bangladesh diplomatic relationship and...
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Reeves First Budget: A GPI Review 2024

Reeves has herself set two metrics against which her budget should be assessed: a) that current expenditure should be matched by tax income (in any one year), and b) that there must be fiscal room, via borrowing, to fund public...
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BRICS Plus – Annual Meeting 2024

The GPI Report on the BRICS 2023 meeting, held in South Africa, indicated gradual progress in the institutional and policy development of the organization and interest is joining the organization from several countries, beyond the five founding members indicated in...
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Thailand’s Digital Wallet Goes Live

From 8.00 on 1 August Thai citizens with smartphones (58m.) can register for the 10,000-baht (US$280) digital wallet handout through the Thang Raj App (Government Way – see below). The wallet – worth about 2/3 of the average national nation...
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Dresden provides impetus and lessons for Macron’s industrial policy push

The French president wants to unleash an “investment shock” in strategic industries in the EU, but subsidies alone are unlikely to make the bloc competitive. Emmanuel Macron, France’s president, has recently given a number of sobering speeches about Europe’s future....
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