If the United States cannot get its fiscal house in order, the dollar’s privileged position as the world’s reserve currency may be at risk—at a time when there seem to be few if any plausible alternatives.
An intense security competition is under way in East Asia. Beijing and Washington must take care to ensure that this competition does not give way to entrenched bloody-mindedness or even outright violence.
The European debt debacle has made a mockery of the original hopes that inspired the European project. The EU may not survive the current crisis—and even if it does, it could be a severely diminished organization.
Pax Americana and the age of Western dominance are fading. Washington can manage this decline, but first it must acknowledge its reality. History moves forward with a crushing force and does not wait for the unprepared.
U.S.-Pakistani relations are in crisis. Strategic fear of India prevents Pakistan from bending to U.S. demands. Easing India-Pakistan tensions could change the dynamics of the U.S.-Pakistan alliance.
Obama has emerged as champion of securing vulnerable nuclear materials. Two years after his Washington summit on this arcane but important matter, leaders are descending on South Korea to track progress and fashion goals for the future.
We thought the lessons of Vietnam could never be unlearned. But Washington warmongering heeds no warnings, plunging America into the quagmires of Iraq and Afghanistan. The depths of dysfunction behind these decisions seemingly know no bounds.
Awash in Wilsonian hubris, the State Department’s meandering and militaristic QDDR will ensure Foggy Bottom remains second-rate—both inside the Beltway and overseas.
As the Great Recession gnaws at our very belief in the ability of capitalism to raise us to ever-escalating levels of wealth and prosperity, Keynes's no-longer-viable financial prescriptions are being resurrected.
