Articles

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.

For decades, fears of energy scarcity drove American energy diplomacy. The dependence of the global economy on oil, and America’s need to secure ever-growing quantities of this commodity, underpinned complex networks of alliances and intensive diplomatic endeavors. An atmosphere of ever-increasing global competition for resources made these labors all the more urgent and highstakes. Today, in an age of energy abundance, many anticipate that the new US energy prowess will render such efforts obsolete and pave the way for US disengagement in the world. Yet a sober look at reality suggests that this should be far from the case.

Since the 1945 nuclear attacks on Hiroshima and Nagasaki, have Americans developed moral taboos against using nuclear weapons and killing noncombatants?

The world's energy system needs rebuilding. The Paris agreement to keep global warming “well below 2 °C above pre-industrial levels” demands that we replace fossil fuels with solar, wind, geothermal and biomass energy. The price tag is vast: investing US$120 trillion in energy projects between 2016 and 2050, at twice the current annual rate of $1.8 trillion a year, will deliver a 66% chance of achieving the Paris target. We must halve oil production and stop using coal to produce electricity.

In an interview with Amin Arefi of French magazine Le Point, Ambassador (ret.) Nicholas Burns reflects on the first ten days of the Trump administration and the trajectory of American foreign policy going forward. Burns explains the fundamental differences between Donald Trump and George W. Bush, and the  worrying implications of Trump's indifference towards the US-backed system of alliances that has upheld the liberal world order for the past seven decades.   

Decision-makers often seek to design policies that support sustainable development. Prospective evaluations of how effectively such policies are likely to meet sustainability goals have nonetheless remained relatively challenging. Evaluating policies against sustainability goals can be facilitated through the inclusive wealth framework, which characterizes development in terms of the value to society of its underlying capital assets, and defines development to be potentially sustainable if that value does not decline over time.

On Thursday, voters in the U.K. will decide by a simple majority whether to remain in the E.U. during a national referendum known as “Brexit” (a portmanteau of the words British and exit). Over the last month, public opinion polling showed voters evenly split, with the “leave” campaign edging upslightly in recent days. Douglas Alexander is a senior fellow in The Future of Diplomacy Project.The Gazette spoke with Alexander about the upcoming referendum and the potential fallout for the U.K. and Europe.