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: Aleksandra Sova/Adobe Stock

Photo: Aleksandra Sova/Adobe Stock

From the Petrodollar to the Tokendollar: Economic Statecraft in the AI Era

AI tokens are emerging as the currency of a new international order. Benjamin Jensen argues that the United States should create a “tokendollar” linking AI infrastructure, futures markets, and dollar-backed stablecoins to extend U.S. financial power into the AI era.

Commentary by Benjamin Jensen — August 25, 2026

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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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From the Petrodollar to the Tokendollar: Economic Statecraft in the AI Era

AI tokens are emerging as the currency of a new international order. Benjamin Jensen argues that the United States should create a “tokendollar” linking AI infrastructure, futures markets, and dollar-backed stablecoins to extend U.S. financial power into the AI era.

Commentary by Benjamin Jensen — August 25, 2026

Section 301 Tariffs and China: A Risky Gambit

Scott Kennedy and Claire Reade outline how USTR’s new Section 301 tariffs face legal hurdles, have not achieved their intended economic results, and are making it more difficult for the United States and allies to align in tackling China’s non-market practices.

Commentary by Scott Kennedy and Claire Reade — August 10, 2026

South Korea’s Strategic Capital Play

This blog chart shines a light on South Korea's $1.5 trillion in sovereign-fund assets and explores how it can be deployed to serve both financial and economic-security objectives.

Blog Post by Navin Girishankar, Karl Smith, Andrea Leonard Palazzi, and Joseph Lim — August 4, 2026

Understanding President Trump’s New Tariffs on Canadian Imports

On July 20, President Trump formally invoked Section 338 of the Tariff Act of 1930 for the first time to impose 50 percent duties against a significant range of Canadian products. Our experts explain the statute and its global implications.

Critical Questions by Christopher Gundermann, Hugh Grant-Chapman, and Diego Marroquín Bitar — July 21, 2026

America’s Unproven Productivity Boom, and the Cost of Misreading the Data

The recent boom in U.S. labor productivity may not be early dividends of new AI technologies, but a routine labor market adjustment. Until the data starts to provide a clearer story, policymakers would be wise to consider the jury out to avoid serious policy missteps.

Commentary by Philip Luck — July 20, 2026

Entity List Additions Cool to Their Slowest Pace Since 2008

The lack of additions to the Entity List since October 2025 marks a sharp break from years of U.S. geoeconomic strategy. Due to the continually shifting nature of procurement networks, a list that stops expanding tracks fewer relevant actors, eroding its value as a control. 

Analysis by Kate Koren and Brad Spicher — June 29, 2026

Preventing Iran’s Military Reconstitution

Iran’s ability to reconstitute its military depends on its ability to import key materials and equipment. With the UAE’s role as Iran’s central reexport hub up in the air, policymakers have a narrow window to identify and disrupt new procurement routes as they take shape. 

Report by CSIS Scholars — June 23, 2026