Brad W. Setser is the Whitney Shepardson senior fellow at the Council on Foreign Relations. His expertise includes global trade and capital flows, financial vulnerability analysis and sovereign debt restructuring. He regularly blogs at Follow the Money.

April 11, 2024

Analysis

The Electric Vehicle Developmental State

BYD exemplifies transformations in Chinese industrial policy

The rise of the Chinese EV industry has been enabled not only by generous government subsidies but also by profound changes in strategy and organization, and in particular by a distinctive revival of vertical integration—at both individual firm and national…

December 8, 2022

Analysis

Money and the Climate Crisis

COP27 and financing the green transition

, Anna Gelpern, Avinash Persaud, Rishikesh Ram Bhandary, Brad Setser, Adam Tooze

The conclusion of COP27 reflected persisting uncertainties around coordinated global action towards decarbonization. Major agreements—including the establishment of a loss and damage fund—were reached, but the burden of mounting debt among global South countries continued to limit climate ambition. The…