If middle powers do not step in to fill the governance gap for rules-based trade, the vacuum will be filled by actors who see trade as a lever of coercion rather than cooperation, Canada’s former Trade Minister Mary Ng writes in an essay for the Hinrich Foundation.
As the US-Japan relationship flounders, shipbuilding could emerge as a way for both countries to find mutual benefit: Japan’s beleaguered shipbuilding, facing fierce competition from China and South Korea, could find new shores in America’s need for industrial capacity just as the demands of Indo-Pacific security become more urgent, Kieran Thompson writes.
As money and payments have become more digital, the world’s central banks have realized that they need to provide a public option or let the future of money pass them by. The Atlantic Council has a Central Bank Digital Currency tracker to map the development of a crucial underpinning of global trade.
The Hinrich Foundation Award for Distinguished Reporting on Trade, administered by the National Press Foundation, recognizes exemplary journalism that advances the public’s understanding of international business and trade. Applications for the 2025 award are open now.
The landing zone for a new, stable trading order is not yet in sight, but middle powers can and should start shaping it now, leading the way. If middle powers do not step in to fill the governance gap in rules-based trade, the vacuum will be filled by actors who see trade as a lever of coercion rather than cooperation, Canada’s former Trade Minister Mary Ng writes in an essay for the Hinrich Foundation.
For both Washington and Tokyo, shipbuilding offers a high-return, low-political-cost way to link industrial revitalization with alliance renewal. As the bilateral relationship flounders, shipbuilding could emerge as a way for both countries to find mutual benefit: Japan’s beleaguered shipbuilding, facing fierce competition from China and South Korea, could find new shores in America’s need for industrial capacity, just as the demands of Indo-Pacific security are becoming more urgent than ever, Dragoman’s Kieran Thompson writes.
As money and payments have become more digital, the world’s central banks have realized that they need to provide a public option or let the future of money pass them by. The Atlantic Council’s Geoeconomics Center has a Central Bank Digital Currency tracker to map the development of a crucial underpinning of global trade.
The Hinrich Foundation Award for Distinguished Reporting on Trade
The Hinrich Foundation Award for Distinguished Reporting on Trade, administered by the National Press Foundation, recognizes exemplary journalism that illuminates and advances the public’s understanding of international business and trade. The award carries a US$10,000 prize. Applications for the 2025 award are open now.
Will industrial policy restore US manufacturing leadership?
Putting American manufacturing back on par with where it was before the “China Shock” would reduce global trade tensions and reverse the decline in US productivity growth, but it will take at least a decade of careful planning. If one of the Trump administration’s goals is to break the US’ critical trade dependencies, securing supplies from like-minded allies would stand a far higher chance of success. Read more in this discussion guide based on a paper by Stewart Paterson, Senior Research Fellow at the Hinrich Foundation.
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