Business, Government & the International Economy

- September 2025
- Article
China's Perilously Imbalanced Economic Success

By: Meg Rithmire

China’s contemporary economic trajectory is paradoxical, marked by both extraordinary technological advancement and mounting macroeconomic vulnerabilities. China has achieved global leadership in advanced manufacturing sectors such as electric vehicles and batteries, and continues to innovate in fields like artificial intelligence. But these successes are offset by deepening financial and fiscal constraints, most visible in a real estate crisis, declining consumer confidence, and soaring local government debt. State-driven resource mobilization, closed financial institutions, and fiscal weakness have produced both global champions and massive inefficiencies. Fiscal reforms and financial modernization are required to translate industrial might into broad-based prosperity, but an authoritarian political structure will make this more challenging than earlier rounds of reforms.
- September 2025
- Article
China's Perilously Imbalanced Economic Success

By: Meg Rithmire

China’s contemporary economic trajectory is paradoxical, marked by both extraordinary technological advancement and mounting macroeconomic vulnerabilities. China has achieved global leadership in advanced manufacturing sectors such as electric vehicles and batteries, and continues to innovate in fields like artificial intelligence. But these...
- August 2025
- Case
The Aspen Institute: An Enterprise Strategy for Ideas

By: Caroline Elkins and Kerry Herman

In 2025, Dan Porterfield, CEO of The Aspen Institute, is five years into a broad-reaching strategic assessment, reorganization, and implementation to transform and clarify the legendary Aspen Institute’s many offerings and operations. Inheriting a sprawling multi-faceted organization with over 50 offerings—policy programs, seminars, events, and Ideas convenings—Porterfield and Board Chair Margot Pritzker set out to clarify the Institute’s many elements, reach donors aligned with their clarified mission, and provide an enterprise-informed strategy for the Institute’s future, ensuring its long-standing ability to convene people and ideas across political and ideological differences. Now, in 2025, they are seeing the fruits of their labor; but in an increasingly polarized world, does the enterprise strategy go far enough?
- August 2025
- Case
The Aspen Institute: An Enterprise Strategy for Ideas

By: Caroline Elkins and Kerry Herman

In 2025, Dan Porterfield, CEO of The Aspen Institute, is five years into a broad-reaching strategic assessment, reorganization, and implementation to transform and clarify the legendary Aspen Institute’s many offerings and operations. Inheriting a sprawling multi-faceted organization with over 50 offerings—policy programs, seminars, events, and...
- August 15, 2025
- Editorial
Russia’s Recurring Policy Error: Why Putin Still Doesn’t Understand American Democracy

By: Jeremy Friedman
- August 15, 2025
- Editorial
Russia’s Recurring Policy Error: Why Putin Still Doesn’t Understand American Democracy

By: Jeremy Friedman

About the Unit

The BGIE Unit conducts research on, and teaches about, the economic, political, social, and legal environment in which business operates. The Unit includes scholars trained in economics, political science, and history; in its work, it draws on perspectives from all three of these disciplines.

The following demonstrates one way of classifying the approaches the Unit takes to learning and teaching.

The Unit examines the “rules” and policies established by government and other non-business institutions that affect business in the United States.
The Unit turns to history to understand the origins of today’s business environment as well as some of the alternatives that have emerged from time to time.
The Unit examines other countries’ business environments and their historical development.
The BGIE group is deeply interested in the impact of globalization and the way rules are emerging to govern international economic transactions as globalization proceeds.

Recent Publications

China's Perilously Imbalanced Economic Success

By: Meg Rithmire

September 2025 |
Article |
Current History

China’s contemporary economic trajectory is paradoxical, marked by both extraordinary technological advancement and mounting macroeconomic vulnerabilities. China has achieved global leadership in advanced manufacturing sectors such as electric vehicles and batteries, and continues to innovate in fields like artificial intelligence. But these successes are offset by deepening financial and fiscal constraints, most visible in a real estate crisis, declining consumer confidence, and soaring local government debt. State-driven resource mobilization, closed financial institutions, and fiscal weakness have produced both global champions and massive inefficiencies. Fiscal reforms and financial modernization are required to translate industrial might into broad-based prosperity, but an authoritarian political structure will make this more challenging than earlier rounds of reforms.

Keywords: Property; Financial Markets; Economic Slowdown and Stagnation; Household; Economic Systems; Government and Politics; Real Estate Industry; Financial Services Industry; Technology Industry; Energy Industry; China

Citation

The Aspen Institute: An Enterprise Strategy for Ideas

By: Caroline Elkins and Kerry Herman

August 2025 |
Case |
Faculty Research

In 2025, Dan Porterfield, CEO of The Aspen Institute, is five years into a broad-reaching strategic assessment, reorganization, and implementation to transform and clarify the legendary Aspen Institute’s many offerings and operations. Inheriting a sprawling multi-faceted organization with over 50 offerings—policy programs, seminars, events, and Ideas convenings—Porterfield and Board Chair Margot Pritzker set out to clarify the Institute’s many elements, reach donors aligned with their clarified mission, and provide an enterprise-informed strategy for the Institute’s future, ensuring its long-standing ability to convene people and ideas across political and ideological differences. Now, in 2025, they are seeing the fruits of their labor; but in an increasingly polarized world, does the enterprise strategy go far enough?

Keywords: Business Organization; Growth and Development Strategy; Growth Management; Organizational Change and Adaptation; Organizational Design; Organizational Culture; Strategic Planning; Mission and Purpose; Alignment; Business Strategy; Education Industry; United States

Citation

Educators

Purchase

Dominion Voting Systems v. Fox News

By: Vincent Pons, Jesse M. Shapiro, Bharat Anand and Susan Pinckney

August 2025 |
Teaching Note |
Faculty Research

Teaching Note for HBS Case No. 725-029. This case is centered on the 2023 $787.5 million defamation settlement between Fox News and Dominion Voting Systems. The case examines the years leading up to the 2020 U.S. presidential election to evaluate how increasing partisan polarization, growing distrust of the media and the elite, the introduction of partisan-leaning cable news networks, and the changing relationship between the media and politicians created the environment that shaped Fox News’s actions. In fall 2020, following the network's election-night decision to call the state of Arizona for Biden, Fox News Network was in trouble. Audience numbers were falling, and some in the network thought it was because rival networks such as Newsmax were willing to air claims that the election was stolen. With an eye on their ratings, some hosts brought on guests who cast doubt on the nation's voting procedures based on questionable evidence. In particular, former New York City Mayor and President Donald Trump’s lawyer, Rudy Giuliani, and former Trump lawyer, Sidney Powell, claimed that Dominion’s voting machines had altered votes. The case examines Dominion’s defamation allegations, as well as Fox News’s defense that its hosts had simply aired the newsworthy claims of other individuals. It asks whether Fox News CEO Suzanne Scott should change the network’s internal procedures, and whether U.S. regulations of the media industry should be strengthened.

Citation

Purchase

Russia’s Recurring Policy Error: Why Putin Still Doesn’t Understand American Democracy

By: Jeremy Friedman

August 15, 2025 |
Editorial |
Jurist

Keywords: Foreign Policy; Democracy; International Relations; Russia; United States

Citation

Read Now

Kiribati: Sea Level Rise and the Politics of Vulnerability

By: Gunnar Trumbull

August 2025 |
Case |
Faculty Research

Citation

Educators

Greenland: Sovereignty for Sale?

By: Sophus A. Reinert

August 2025 |
Case |
Faculty Research

Citation

Educators

Techno-Feudalism? Growth, Inequality, and the Future of Capitalism

By: Sophus A. Reinert, Charlotte Robertson and Robert Fredona

August 2025 |
Case |
Faculty Research

Citation

Educators

Beko: Leveraging Sustainability for Growth

By: Gunnar Trumbull, Joseph B. Fuller, Emilie Billaud and Gizem Cihan Dincsoy

August 2025 |
Case |
Faculty Research

In July 2024, Hakan Bulgurlu, CEO of Beko, reflected on the early integration of Whirlpool’s European operations. The merger expanded Beko’s scale and market reach but posed significant challenges, particularly aligning Whirlpool’s carbon-intensive legacy with Beko’s long-standing sustainability ambitions. As part of Türkiye’s Koç Holding, Beko had grown into a global appliance leader with a strong ESG track record, but the complexity of the merger tested both its operational discipline and strategic direction. The deal was driven by market realities. Inflation in Türkiye had raised Beko’s costs, while rising competition from Asian manufacturers intensified price pressures. Whirlpool offered strong brands; Beko brought agility, cost-efficient manufacturing, and a deep commitment to carbon reduction across its value chain. But integration was far from straightforward. Cultural differences and incompatible systems created friction. Aligning emissions targets and climate goals across two legacy organizations added another layer of complexity. Translating sustainability into profitability remained a challenge. Energy-efficient products were costly to produce, and consumer willingness to pay a premium was limited. Meanwhile, Asian competitors advanced rapidly, offering low-cost, increasingly green appliances. Beko faced a strategic test: could it fulfill its climate ambitions, integrate Whirlpool effectively, and maintain a competitive edge in a commoditized, low-margin industry?