Economic & Financial Statecraft Program

At the core of the Program is systematic research into financial transactions with national security, human rights, and investor protection implications. PSSI examines the flow of Western capital to companies linked to authoritarian states, assessing how investments and other forms of economic engagement can contribute, directly or indirectly, to activities that run counter to allied security interests and democratic values . Its research also explores the role of corporate behavior, ownership structures, supply chains, and strategic dependencies in creating or amplifying economic and security vulnerabilities.

A particular focus of PSSI’s work is the national security dimension of global capital markets. Through open-source research and financial analysis, the program identifies investment exposure to companies associated with military and security activities, human rights abuses, sanctions concerns, and other strategic risks. This has included mapping financial links between U.S. capital markets and Chinese companies with connections to strategically sensitive sectors and third-country actors, as well as examining Western investment patterns that may inadvertently support authoritarian state objectives.

PSSI translates this research into targeted analytical products,, including PSSI Perspectives and Flash Traffic Reports. These publications identify emerging economic security threats, examine corporate and investor exposure, assess relevant regulatory and legislative developments, and provide actionable recommendations for policymakers and market participants. 

Policy engagement is an integral part of the program. PSSI works with policymakers, financial and corporate stakeholders, academic and NGO experts, and international partners to translate research findings into practical policy responses. Through expert roundtables, closed-door dialogues, and international exchanges, the program facilitates discussion of issues including sanctions implementation and enforcement, forced-labor and supply-chain risks, investment screening, and capital-markets governance.

The program also contributes to broader awareness of the role economic and financial instruments play in contemporary geopolitical rivalry. Through its combination of financial research, policy analysis, and practitioner engagement, the Economic and Financial Statecraft Program seeks to help democratic governments and market participants preserve the benefits of open markets while reducing strategic vulnerabilities. Its work supports a broader objective: ensuring that access to Western financial systems does not inadvertently strengthen actors or activities that undermine international security, human rights, or democratic resilience.