Brookings senior fellow Fiona Hill, a leading expert on Russia and Vladimir Putin and former senior director for European and Russian affairs on the National Security Council, joins David Dollar to discuss her new book, “There Is Nothing for You Here: Finding Opportunity in the 21st Century” (Mariner Books). In her memoir, Hill describes growing up in a rapidly de-industrializing and decaying area in northeast England in the 1970s and ‘80s, how she came to study Soviet and Russian affairs in college, and how rapid economic transformations have led to the rise of populist leaders in Russia and recently in the United States. Hill tells Dollar that we need collective will that transcends politics to deal with current and emerging challenges in the U.S. and abroad. Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

Dollar & Sense

Industrial decline and the rise of populists in Russia, the U.S., and Britain

The vast majority of global trade today moves by sea, so control of the world’s oceans has become critical for both commerce and security. In this episode, Brookings Senior Fellow Bruce Jones joins David Dollar to discuss evolutions in sea-based trade, including the growing size of container ships, threat of modern piracy, explosion of data flows, and the transformation of global value chains. Jones draws on his experience visiting ports around the world and sailing on one of the largest container ships to illustrate the mechanics of sea-based trade. He shares details from his travels in this conversation and his new book, “To Rule the Waves: How Control of the World’s Oceans Shapes the Fate of the Superpowers.” Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

How does control of the seas affect global trade and security?

Around the world, the middle class is expanding at a rate we have never seen before in history. Homi Kharas, a senior fellow in the Center for Sustainable Development at Brookings, joins David Dollar in this episode to discuss how that global middle class is defined and where growth is concentrated. Kharas also explains how preferences among the global middle class will affect production, trade, regional value chains, and efforts to address climate change for years to come. Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

How will the rise of the global middle class affect trade and consumption?

Afghanistan has received enormous amounts of foreign aid over the years, but despite the investment of funds and various efforts to build state capacity, the government quickly fell to the Taliban after the withdrawal of U.S. forces. To discuss what capacity-building efforts accomplished and why they ultimately fell short, David Dollar is joined by Jennifer Brick Murtazashvili, director of the Center for Governance and Markets at the University of Pittsburgh. Murtazashvili explains why the government’s unwillingness to reform led to the rapid unravelling witnessed earlier this month. She also describes how Taliban rule may impact women in Afghanistan, the opium trade, and the delivery of international aid. Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

Why did state-building efforts in Afghanistan fail?

The COVID-19 pandemic has been the greatest shock to the international order in decades, and unlike previous shocks, major powers like the United States did not step up to lead the world through it. Thomas Wright joins this episode to explain how that leadership vacuum shaped the pandemic response and has contributed to the rewriting of the postwar order. Wright is a co-author of the new book “Aftershocks: Pandemic Politics and the End of the Old International Order,” which examines the political backdrop of the pandemic and how institutions performed once it arrived. He and David Dollar discuss why some economic institutions like central banks proved to be quite resilient and what the overall lack of international coordination means for the United States, China, and the global balance of power. Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

Will COVID-19 mark the end of the old international order?

The 2020 Tokyo Olympics were supposed to showcase Japan’s resilience in the face of major setbacks and be a crowning event at the end of former Prime Minister Shinzo Abe’s term in office, but the COVID-19 pandemic and a yearlong delay have threatened this narrative. Mireya Solís, director of the Center for East Asia Policy Studies at Brookings, joins David Dollar to discuss the political and economic background of these Olympic Games. Solís explains why it was important for Japan to tell a story of renewal after the Triple Disaster of 2011 and a period of economic stagnation. She also describes what the Olympics mean for current Prime Minister Yoshihide Suga and for Japan’s relations with other countries in the region. Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

The 2020 Tokyo Olympics were always meant to be a story of resilience

From widespread protests in Cuba to the assassination of Haitian President Jovenel Moïse, recent unrest across Latin America has brought new attention to political and economic issues in the region and created diplomatic challenges for the Biden administration. To discuss how the United States should engage with Latin America, David Dollar is joined by Santiago Levy, a nonresident senior fellow in the Global Economy and Development program at Brookings and senior advisor to the United Nations Development Program. Levy describes the negative effects of U.S. policy toward Cuba, his concerns about sovereign debt in the region, and how the U.S. could work with Latin American governments to rethink development strategies in order to achieve socially inclusive growth. Then, the conversation turns to Progresa-Oportunidades, a conditional cash transfer program Levy helped design during his career in public service in Mexico, and what lessons it could provide for similar economic programs proposed by the Biden administration. Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

How can the US support democracy and development in Latin America?

When the leaders of G-7 countries met in Carbis Bay last month, they announced a new Build Back Better World (B3W) plan to support infrastructure projects in low- and middle-income countries and respond to China’s Belt and Road Initiative. There are few details of exactly how the B3W partnership will work, and there are questions about whether focusing on infrastructure is the best way for the United States and its partners to counter China on the global stage. In this episode, Howard W. French joins David Dollar to discuss the challenges B3W will face and why the West would be better off competing in areas where it already has relative advantages.   Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

How should the G-7 respond to China’s BRI?

Digital currencies like Bitcoin often make headlines for the massive swings in their value, but beyond the intrigue of skyrocketing and plummeting prices the rising popularity of cryptocurrencies poses serious questions for financial institutions and monetary policy. Eswar Prasad joins David Dollar for a conversation on the digitalization of money and what digital currencies could mean for the future of cash, international payments, and the strength of the U.S. dollar. Prasad also explains why some central banks have hesitated to introduce digital currencies while others have embraced them. Dollar & Sense is part of the Brookings Podcast Network. Send feedback to bcp@brookings.edu, and follow us on Twitter at @policypodcasts.

Digital currencies are transforming the future of money

While the United States has made great strides in vaccinating its population, many low- and middle-income countries are far behind and lack the supply of COVID-19 vaccines they need. Matthew M. Kavanagh joins David Dollar in this episode to explain what could be done to increase the global production of vaccines, including a proposal to waive the World Trade Organization rules protecting the intellectual property for vaccine technology. Dollar & Sense is a part of the Brookings Podcast Network. Send feedback to BCP@Brookings.edu and follow us at @policypodcasts on Twitter.

We are a long way from vaccinating the world. Could a patent waiver help?

A global shortage of semiconductors has created serious anxiety in some industries and even caused automakers to halt production in several factories across North America. What led to this shortage, and is there anything manufacturers or the Biden administration can do to meet demand? David Dollar is joined by Don Clark, a contributor to The New York Times, to discuss the factors that triggered the recent supply issues and the potential implications for the future of chip manufacturing in the United States. Dollar & Sense is a part of the Brookings Podcast Network. Send feedback to BCP@Brookings.edu and follow us at @policypodcasts on Twitter.

What’s behind the semiconductor shortage and how long could it last?

President Biden has outlined a sweeping infrastructure plan that aims to address both historic needs—like bridges, tunnels, and roads—and modern challenges from climate change and digitalization. Adie Tomer, a fellow in the Metropolitan Policy Program at Brookings, argues that this type of investment would create good paying jobs, improve equity, and make American businesses more globally competitive. Tomer joins David Dollar in this episode to discuss the potential of a major infrastructure investment before turning to the politics of passing Biden’s $2.3 trillion plan and how to pay for it. Dollar & Sense is a part of the Brookings Podcast Network. Send feedback to BCP@Brookings.edu and follow us at @policypodcasts on Twitter.

A new vision for American infrastructure

Overseas research and development conducted by U.S. multinational corporations has grown nearly four-fold in the last two decades, and much of that growth has been in developing economies. Britta Glennon, an assistant professor in the Wharton School of Business at the University of Pennsylvania, joins David Dollar in this episode to explain what’s behind this growth and which countries have become new hubs for R&D investments. Glennon and Dollar also discuss the national security implications of this trend and what it signals about the likelihood of any decoupling between the U.S. and China. Dollar & Sense is a part of the Brookings Podcast Network. Send feedback to BCP@Brookings.edu and follow us at @policypodcasts on Twitter.

What’s behind the globalization of R&D?

Alexia Latortue, the deputy chief executive officer of the Millennium Challenge Corporation (MCC), joins David Dollar for a conversation about the MCC and how it has been impacted by the COVID-19 pandemic. Latortue and Dollar discuss strategies for building infrastructure and institutional capacity in developing countries, concerns over growing debt levels in many countries, and challenges facing U.S. foreign assistance programs today.  Dollar & Sense is a part of the Brookings Podcast Network. Send feedback to BCP@Brookings.edu and follow us at @policypodcasts on Twitter.

How has the MCC responded to the challenges of COVID-19?

How will a new allocation of special drawing rights affect the global economy? Could International Monetary Fund (IMF) member countries do more to support low-income countries and afford more debt relief? And what effects will the recent $1.9 trillion U.S. recovery package have on emerging markets and currency disputes? Mark Sobel is the U.S. chairman of the Official Monetary and Financial Institutions Forum and previously represented the U.S. on the IMF’s executive board. He joins David Dollar to preview the IMF Spring Meetings and discuss current issues in U.S. monetary policy. Dollar & Sense is a part of the Brookings Podcast Network. Send feedback to BCP@Brookings.edu and follow us at @policypodcasts on Twitter.

America needs a positive IMF agenda

Dollar and Sense is a podcast about all things trade. From local ports and markets to international trade and diplomacy, Brookings Institution Senior Fellow David Dollar and guests explain how our global trading system is built and its effect on our everyday lives.

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