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News Release

Fred Bergsten Appointed to Ex-Im Bank Advisory Committee

December 16, 2011


WASHINGTON—The Peterson Institute for International Economics is pleased to announce that C. Fred Bergsten, director of the Institute, has been appointed to the Advisory Committee of the Export-Import Bank of the United States (Ex-Im Bank). The Ex-Im Bank is the official export credit agency of the United States government. Its mission is to assist in financing the export of US goods and services to international markets at no cost to American taxpayers. The Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011, including more than $6 billion directly supporting small-business export sales. Its authorizations support an estimated $41 billion in US export sales and approximately 290,000 American jobs.

The Advisory Committee to the Board, established in 1983, has 17 members appointed by the bank's board of directors, who are in turn appointed by the President of the United States. The committee advises the bank on its programs, assesses whether it is meeting its mandate to help exports, and provides comments for inclusion in its reports to the Congress. Its membership is drawn from leaders in government, finance, environment, small business, production, agriculture, labor and services.

Bergsten is also a member of the President's Advisory Committee on Trade Policy, which provides advice to the Administration on trade agreements and trade policy, and he chairs the Private Sector Advisory Group to the United States-India Trade Policy forum. He has been director of the Peterson Institute for International Economics since its creation in 1981. The Institute is the only major research institution in the United States devoted to international economic issues. It has been voted "Top Think Tank in the World," has a staff of about 50, moved into its award-winning new building in 2001, averages half a dozen publications per month, and holds at least one conference or policy meeting every week. Bergsten was the most widely quoted think-tank economist in the world over the eight-year period 1997–2005 (the latest for which data are available).

Bergsten was assistant secretary for international affairs of the US Treasury during 1977–81 with responsibilities inter alia for US export credit policies and the Export-Import Bank. He also functioned as undersecretary for monetary affairs during 1980–81, representing the United States on the G-5 Deputies and in preparing G-7 summits. During 1969–71, starting at age 27, Bergsten coordinated US foreign economic policy in the White House as assistant for international economic affairs to Henry Kissinger at the National Security Council. He was chairman of the Eminent Persons Group of the Asia Pacific Economic Cooperation (APEC) forum from 1993 to 1995, authoring its three reports that recommended "free and open trade in the region by 2010 and 2020" as adopted at the APEC summits in 1993 and 1994 and as now approaching realization through negotiation of the Trans Pacific Partnership, and was chairman of the Competitiveness Policy Council created by the Congress from 1991 through 1995.

Bergsten has authored, coauthored, or edited 40 books on international economic issues, including The Long-Term International Economic Position of the United States (2009); China's Rise: Challenges and Opportunities (2008); and The United States and the World Economy: Foreign Economic Policy for the Next Decade (2005). His latest of 17 articles in Foreign Affairs is "The Deficits and the Dollar: What Washington Must Do to Prevent the Next Crisis" (November 2009). Recent op-eds include "An Overlooked Way to Create Jobs" (New York Times, September 2011), "US Trade Policy and the Doha Round: An Alternative View" (VoxEU, May 18, 2001), "Why The World Needs Three Global Currencies" (Financial Times, February 2011), "Obama Has to Tell Beijing Some Hard Truths" (Financial Times, November 2010), "What Obama Can Offer in India" (Washington Post, October 2010), and "We Can Fight Fire with Fire on the Renminbi" (Financial Times, October 2010).

Bergsten has received the Meritorious Honor Award of the Department of State, the Exceptional Service Award of the Treasury Department, and the Legion d'Honneur from the Government of France. He has been named an honorary fellow of the Chinese Academy of Social Sciences. Bergsten received MA, MALD, and PhD degrees and its Distinguished Alumni Leadership Award (2010) from the Fletcher School of Law and Diplomacy and a BA magna cum laude and honorary doctor of humane letters from Central Methodist University.

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About the Institute

The Peter G. Peterson Institute for International Economics is a private, nonprofit, nonpartisan research institution devoted to the study of international economic policy. Since 1981 the Institute has provided timely and objective analysis of, and concrete solutions to, a wide range of international economic problems. It is one of the very few economics think tanks that are widely regarded as "nonpartisan" by the press and "neutral" by the US Congress, its research staff is cited by the quality media more than that of any other such institution. Support is provided by a wide range of charitable foundations, private corporations and individual donors, and from earnings on the Institute's publications and capital fund. It moved into its award-winning new building in 2001, and celebrated its 25th anniversary in 2006 and adopted its new name at that time, having previously been the Institute for International Economics.