A new agreement negotiated under the auspices of the G-20 and the Organization for Economic Cooperation and Development aims to crack down on tax havens by subjecting the world’s largest and most profitable multinational corporations to a minimum corporate tax rate of 15 percent. The deal has been agreed by 136 countries and jurisdictions, collectively representing more than 90 percent of the global economy. The OECD is hoping it will become effective by 2023. Many economists and commentators argue that such a deal is long overdue, given the ability of many gigantic corporations to avoid paying taxes on all or […]
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Earlier this month, senior U.S. and Chinese trade negotiators held a virtual round of talks to discuss concerns over the state of bilateral commercial ties. The meeting came after U.S. Trade Representative Katherine Tai said in public remarks that she would seek “frank conversations” with her Chinese counterpart “that will include discussion over China’s performance under the phase-one agreement,” which was negotiated under former President Donald Trump. The Chinese side said it pressed Tai to cancel the tariffs that were imposed by Trump and which so far remain in effect under President Joe Biden. The dynamic around these talks says a […]
With its rich natural gas reserves and strategic location, the Gulf monarchy of Qatar has long played an important role in regional and global diplomacy that belies its small size. It has mediated or facilitated a number of sensitive negotiations, including the talks that led to the peace agreement the United States signed in February 2020 with the Taliban. Since then, and even after the Taliban overthrew the internationally backed government in Kabul this summer, officials in Doha have continued to exercise influence in Afghanistan. Qatar’s diplomatic efforts have not always been smooth sailing, however. For more than three years, […]
After the collapse of the Soviet Union and the end of the Cold War, the United States and its allies enjoyed a near monopoly on economic, military and ideological power in a suddenly unipolar world. Over the decade and a half that followed, the U.S. emerged as the dominant power atop a liberal international order in large part shaped by its preferences. But the rise of China and resurgence of Russia as great power competitors has challenged Washington’s global leadership role, while offering new options to countries seeking alternatives to the U.S.-led order. That coincides with the emergence within the […]