Withdrawal Pains: The Costs of the U.S. Abdicating International Economic Leadership
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Luncheon Presentation
Registration 12:15pm
Luncheon 12:30pm
Close 2:00pm
One year after taking office, President Donald Trump has repeatedly threatened the rules-based liberal economic order established after World War II, but has not yet withdrawn the U.S. from its leadership role in the system. Other countries, however, have begun to prepare for and respond to anticipated Trump Administration attacks on the system and directly on their own economies. Dr. Posen explains how the system benefitted everyone economically, including the U.S., contrary to Trump’s assertions, and how in fact the U.S. was privileged as the chair of the liberal economic club of nations — because other countries so valued the order and wished to maintain U.S. leadership of it.
Dr. Adam Posen spells out how the U.S. reversal of strategy and values does tangible economic damage by breaking down the separation of international commerce from national security that fueled the last 70 years of peace and prosperity. In particular, he warns about how a regime of economic bullying could emerge instead, slowing growth over the long-term, making governments less accountable, and subjecting everyone’s economic well-being to political predation.
Adam S. Posen has been President of the Peterson Institute for International Economics since 2013, after first joining in 1997. He was previously an economist at the Federal Reserve Bank of New York between 1994 and 1997. The author or editor of seven books, Dr. Posen has contributed to research and public policy in the areas of G20 monetary and fiscal policies, European economic performance since the euro, Japan’s recovery from its Great Recession, and rethinking the path to financial stability. Dr. Posen is serving his sixth term on the Panel of Economic Advisers to the U.S. Congressional Budget Office. From 2009 to 2012, he served as an external voting member of the Bank of England's rate-setting Monetary Policy Committee (MPC), where he was a leading voice globally for the active policy response to the economic crisis. Dr. Posen received his BA and Ph.D. from Harvard University.
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- White Asparagus Gratin with Parmesan Cheese and Baby Cress
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Event Details
Asia Society Hong Kong Center, 9 Justice Drive, Admiralty