Economics & Global Affairs

Stephen Walt argues for a return to a realism-based U.S. grand strategy.

Stephen Walt discusses Donald Trump's genuine insights about America's international problems. He then analyzes what went wrong.

In many Western democracies, this is a year of revolt against elites. The success of the Brexit campaign in Britain, Donald Trump’s unexpected capture of the Republican Party in the United States, and populist parties’ success in Germany and elsewhere strike many as heralding the end of an era. As Financial Times columnist Philip Stephens put it, “the present global order – the liberal rules-based system established in 1945 and expanded after the end of the Cold War – is under unprecedented strain. Globalization is in retreat.”

In fact, it may be premature to draw such broad conclusions.

Some economists attribute the current surge of populism to the “hyper-globalization” of the 1990s, with liberalization of international financial flows and the creation of the World Trade Organization – and particularly China’s WTO accession in 2001 – receiving the most attention. According to one study, Chinese imports eliminated nearly one million US manufacturing jobs from 1999 to 2011; including suppliers and related industries brings the losses to 2.4 million.

As part of the India and South Asia Program’s annual speaker series, Ambassador MaleehaLodhi, the Permanent Representative of the Islamic Republic of Pakistan to the United Nations discussed her country’s regional agenda.

This paper examines the strategic future of South Asia in the wake of the U.S. drawdown from Afghanistan through three key research questions: first, how does the U.S. drawdown from Afghanistan affect the regional security and economic interests of India, Pakistan, and China? Secondly, what kinds of responses to terror attacks by India, Pakistan, and China could further destabilize the region? Thirdly, what key steps can the United States take to prevent further instability in this context?

Lawrence Summers writes about Mike Boskins' response to Summers' Reuters column last week arguing that in a number of areas of economic policy, President Obama has the superior vision.

"Because of the last four years, we face a world in which our enemies do not fear us, our friends do not believe they can trust us, and those who maneuver between the two camps feel that they will not get in trouble by crossing us. It is time, and more than time, to choose a different course."

Given the seriousness of the ongoing standoff on the Korean peninsula, South Korea's emergence as an active contributor to international security addressing challenges far from the Korean peninsula is a striking new development, marking South Korea's emergence as a producer rather than a consumer of global security resources. This volume outlines South Korea's progress and accomplishments toward enhancing its role and reputation as a contributor to international security.