Global Markets

The twenty-first century has seen accelerated economic growth in countries around the world, ushering in an era of economic multipolarity. CSIS experts provide in-depth analysis on the domestic markets of foreign nations such as India and China and their global implications.

Photo: Igor Groshev/Adobe Stock

Photo: Igor Groshev/Adobe Stock

Ghost Busters: Options for Breaking Russia’s Shadow Fleet

Countering Russia’s ghost fleet requires more than sanctions. A coordinated strategy using open-source intelligence, maritime law, and multilateral diplomacy can impose real costs on illicit trade networks fueling Moscow’s war—without escalating military conflict.

Commentary by Benjamin Jensen and Jose M. Macias III — December 15, 2025

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Phil Luck

Philip Luck

Director, Economics Program and Scholl Chair in International Business
Scott Kennedy

Scott Kennedy

Senior Adviser and Trustee Chair in Chinese Business and Economics
Ilaria Mazzocco

Ilaria Mazzocco

Deputy Director and Senior Fellow, Trustee Chair in Chinese Business and Economics
Hugh Nolan Grant-Chapman

Hugh Grant-Chapman

Fellow, Economics Program and Scholl Chair in International Business

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Betting on America

American Leadership in the World Featuring Governor David Beasley

David Beasley, former South Carolina governor and former executive director of the World Food Programme, joins Navin Girishankar on Betting on America to share lessons on U.S. global leadership for a new era of economic security.

Podcast Episode by Navin Girishankar — December 17, 2025

Photo: iLab/CSIS

Ghost Busters: Options for Breaking Russia’s Shadow Fleet

Countering Russia’s ghost fleet requires more than sanctions. A coordinated strategy using open-source intelligence, maritime law, and multilateral diplomacy can impose real costs on illicit trade networks fueling Moscow’s war—without escalating military conflict.

Commentary by Benjamin Jensen and Jose M. Macias III — December 15, 2025

Breaking the Debt Trap: Why Spending Smarter Beats Spending More

In this commentary, Philip Luck and Michael H. Gary argue efficient public spending is the key to unlocking growth in challenging fiscal environments characterized by rising debt and slowing growth.

Commentary by Philip Luck and Michael H. Gary — December 12, 2025

Turning the AI Revolution into Dollar Dominance

Navin Girishankar argues that President Trump's Gulf chip deals enable billions in AI exports but miss what ensures dollar dominance. A compute-dollar successor to the petrodollar will keep China’s offer of AI plus digital yuan settlement in the rearview mirror. 

Commentary by Navin Girishankar — December 8, 2025