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.

Claims that drones will soon remake warfare or international politics are unwarranted. Although almost a dozen states now possess armed drones, and more are racing to acquire them, they will not play a decisive role in interstate conflicts. Drones will rarely be “winning weapons,” because they are vulnerable to air defenses. States will, however, continue to use drones against terrorists and domestic opponents.

"For nearly a century, in short, offshore balancing prevented the emergence of dangerous regional hegemons and pre­served a global balance of power that enhanced American security. Tellingly, when U.S. policymakers deviated from that strategy—as they did in Vietnam, where the United States had no vital interests—the result was a costly failure."

The Chinese cyber threat to the United States has been exaggerated. China's cyber capabilities are outmatched by those of the West, and Beijing reaps too many benefits from the internet's liberal norms to attempt to seriously undermine them.