Articles

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

The small open economies of the Gulf and Southeast Asia are pioneers in the establishment of

Sovereign Wealth Funds (SWFs). The SWFs of countries like Qatar and Singapore are among the

world’s largest in terms of total asset size relative to Gross Domestic Product. This article looks

at the different compulsions behind the setting up of SWFs by small open economies.

"...[A]ctors that employ gray tactics in cyber operations need not be successful in actually infiltrating a system to further their revisionist ambitions. Rather, the sheer ramifications from the cyber action itself, has the power to disturb a nation's psyche and challenge the geopolitical status quo."

The defining question about global order for this generation is whether China and the United States can escape Thucydides’s Trap. The Greek historian’s metaphor reminds us of the attendant dangers when a rising power rivals a ruling power—as Athens challenged Sparta in ancient Greece, or as Germany did Britain a century ago. Most such contests have ended badly, often for both nations, a team of mine at the Harvard Belfer Center for Science and International Affairs has concluded after analyzing the historical record. In 12 of 16 cases over the past 500 years, the result was war. When the parties avoided war, it required huge, painful adjustments in attitudes and actions on the part not just of the challenger but also the challenged.

States have long worried that their dependence on oil gives producers a means of coercion. The oil market, however, is far larger and more integrated than it used to be. The potential for coercion differs across a series of distinct market segments. In this varied market, the United States remains the dominant force.

"The conventional wisdom among those who looked at the Middle East used to be that you had a choice either of supporting the autocrat or being stuck with the religious extremists. The extraordinary diffusion of information created in Egypt and other Middle Eastern countries reveals a strong middle that we weren't fully aware of. What is more, new technologies allow this new middle to coordinate in ways unseen before Twitter, Facebook, and so forth, and this could lead to a very different politics of the Middle East. This introduces a new complexity to our government's dealings with the region."

"It might be relatively easy, but actually quite unfortunate, for countries to achieve what some people might define as 'success' in Cancun:  a signed international agreement, followed by glowing press releases.  I say it would unfortunate, because such an agreement could only be the Kyoto Protocol on steroids: more stringent targets for the original list of industrialized countries (Annex I) and no meaningful commitments by the key rapidly-growing emerging economies, such as China, India, Brazil, Korea, Mexico, and South Africa."

"...[T]he United States has spent several tens of billions of dollars on missile defense research-and yet China, Iran, North Korea and possibly others have continued to pursue increasingly effective long-range ballistic capabilities. If missile defenses are a deterrent, why do US competitors-to say nothing of outright enemies-seem undeterred?"

"...[T]he rivalry between models of socio-economic development did not begin with the cold war. During the Depression, liberals sought to show that planned economic and social development was possible without the use of autocratic methods. Liberal internationalists, aware that their totalitarian ideological competitors offered their own attractive modernization programmes needed a liberal champion. In the TVA they found a global model that became nearly synonymous with liberal development because of its claim to harmonize potentially destabilizing forces. At a time when development models were features of the international discourse, the TVA distinguished itself by offering proof that large-scale, socially transformative, planning-based development was viable in a liberal democracy. The ease with which these ideas supplied an ideological strategy during the cold war illustrated the degree to which modernization had already proved its effectiveness as a weapon against ideological challenges to liberalism."