Germany is no longer Europe’s most troublesome player. It’s now an indispensable nation. The power of this transformation is personified by Chancellor Angela Merkel and her delicate political and diplomatic balancing act.
Beijing has quietly strengthened its position economically and diplomatically in Central Asia, perhaps the most pivotal geographic zone on the planet. This development has powerful implications for America and the world.
Major developments in the oil sector are decisively undermining the once-defining role of the Middle East in the global energy market. The region’s potency in global affairs is on the wane, making Obama’s pivot to East Asia well-timed.
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.
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.
