Hamid Khalafallah is a researcher, policy analyst and development practitioner. He is currently a PhD researcher at the Global Development Institute of the University of Manchester, researching grassroots movements and political transitions in Africa. Before that, Hamid worked for various international organizations in Sudan, focusing on governance and development issues. He holds a master’s degree…
Iran has faced more than a decade of sustained economic pressure. Inflation has remained above 40 percent. The rial has experienced repeated episodes of sharp depreciation. Oil exports, once the central pillar of state revenue, have been significantly constrained by sanctions. From the outside, it looks like a system in permanent crisis. Yet despite these…
This episode with Professor Djavad Salehi-Isfahani examines how prolonged sanctions, inflation, and structural economic stagnation have reshaped Iran’s political economy. We explore how comprehensive sanctions since 2011 constrained oil revenues and fiscal capacity, why inflation and currency depreciation have reinforced one another over time, and how these pressures have affected poverty, middle-class security, and youth prospects. The…
Djavad Salehi‐Isfahani received his PhD in Economics from Harvard University and has taught at the University of Pennsylvania and Virginia Tech, where he is currently Professor of Economics. He is the Managing Editor of the Middle East Development Journal and a Research Fellow at the Economic Research Forum (ERF) in Cairo. His research has focused…
The US dollar remains the central pillar of the global financial system. It dominates cross-border payments, underpins trade invoicing, and accounts for the majority of official foreign exchange reserves. Yet in recent years, debates about the durability of dollar dominance have intensified, driven by the expanded use of financial sanctions, the emergence of digital currencies,…
Daniel McDowell is Maxwell Advisory Board Professor of International Affairs at the Maxwell School of Citizenship and Public Affairs at Syracuse University and a Nonresident Senior Fellow at the Atlantic Council’s GeoEconomics Center. He is a former Wilson Center China Fellow. As a scholar, McDowell specializes in the study of financial sanctions, the dynamics of…
This episode with Dr Daniel McDowell examines how digital currencies, financial sanctions, and geopolitical competition are shaping the future of the global monetary system. We explore why the US dollar continues to dominate global finance despite political pressure and technological change, how sanctions influence state behaviour, and why network effects make rapid currency shifts unlikely. The discussion also…
The defining feature of today’s international system is not the emergence of a new balance of power, but the absence of a shared framework through which power is exercised. Rather than transition, the system is characterised by fragmentation, uncertainty, and weak consensus over rules, norms, and responsibilities. In a recent episode of The International Risk…
This episode with Dr Bobo Lo explores the breakdown of the post-Cold War rules-based international order and what is emerging in its place. We examine why today’s global system is better understood as a condition of disorder rather than a coherent new order, shaped by diffuse power, weakening institutions, and growing mistrust of Western norms, and how the…
Bobo Lo is an independent international relations analyst and a Non-Resident Fellow at the Lowy Institute, Sydney. He was formerly Head of the Russia and Eurasia Programme at Chatham House, and Deputy Head of Mission at the Australian Embassy in Moscow. Past positions and associations have included Director of the China and Russia Programmes at…
