Articles

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The Bavand, one of two stranded Iranian vessels, sits anchored at the port in Paranagua, Brazil on July 25, 2019. In defiance of U.S. sanctions, Brazil's top court ordered state oil company Petrobras to supply fuel to two Iranian vessels that were stranded off the coast of Parana state since early June (AP Photo/Giuliano Gomes).

AP Photo/Giuliano Gomes

Journal Article - Washington Quarterly

A Financial Sanctions Dilemma

| Winter 2020

Over the last two decades, there has been a dramatic increase in the popularity of financial sanctions as an instrument of US foreign policy to address security threats ranging from weapons of mass destruction (WMD) proliferation and terrorism to human rights violations and transnational crime. Washington’s policymakers have prized these tools for their ability to rapidly apply pressure against foreign targets with few perceived repercussions against American business interests. The problem, however, is that Washington is ignoring a growing tension between financial sanctions designed to support economic statecraft (with non-financial goals) and those designed to protect the international financial system. Confusing the two sends mixed signals to adversaries as well as allies and undermines US credibility and commitment to upholding international banking rules and norms. If Washington cannot reconcile these competing processes, it is unlikely that future administrations will enjoy the same foreign policy levers, leaving the United States at a significant disadvantage.

Chinese President Xi Jinping is displayed on a big screen in Beijing as Chinese battle tanks roll by during a Sept. 3, 2015 parade commemorating the 70th anniversary of Japan's surrender during World War II.

(AP Photo)

Magazine Article - The Atlantic

The Thucydides Trap: Are the U.S. and China Headed for War?

| September 24, 2015

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.

U.S. Treasury Secretary Timothy Geithner participates in a question and answer session hosted by The Economist titled: "Questions and Answers: A Conversation with Secretary Tim Geithner," at the Buttonwood Gathering, Thursday, Oct. 15, 2009 in New York.

AP Photo

Magazine Article - Newsweek

An Empire at Risk

| December 7, 2009

"Military experts talk as if the president's decision about whether to send an additional 40,000 troops to Afghanistan is a make-or-break moment. In reality, his indecision about the deficit could matter much more for the country's long-term national security. Call the United States what you like-superpower, hegemon, or empire-but its ability to manage its finances is closely tied to its ability to remain the predominant global military power."

Journal Article - Quarterly Journal: International Security

Linkage Diplomacy: Economic and Security Bargaining in the Anglo-Japanese Alliance, 1902–23

    Author:
  • Christina L. Davis
| Winter 2008/09

The Anglo-Japanese alliance of 1902–23 illustrates the importance of economic side payments as a method for forming and maintaining alliances. It also shows, however, the influence of domestic factors on constraining these types of payments. Security concerns often lead a nation to offer side payments to a potential ally, but domestic political constraints, partisanship, and changing strategic needs account for the variation in the economic-security linkage.

Magazine Article - The American Interest

Size Matters

| July-August 2008

"As the American political system hurtles toward its quadrennial encounter with the oracle of democracy, it is worth our while to take stock of the country's place in a world beset by bewilderingly rapid change. (Heaven knows none of the candidates will bother to do this.) I want to suggest that an old yet generally neglected subject remains particularly relevant: the relationship between the size of political units and the effective scale of systems of economic production and exchange. Another way to describe this relationship is by recourse to the hoary scholarly phrase "political economy", a term of art that has unfortunately gone out of style...."

Journal Article - Los Angeles Times

Would the West's Billions Pay Off?

| June 3, 1991

The path of transformation that the leaders of the Soviet Union can choose depends critically on the extent of Western engagement and assistance is critically dependent on the path of reform the Soviet Union is prepared to undertake.
Therefore, rather than each side waiting for the other to take the first step, the governments of the Soviet Union and the West should jointly develop a common program of what each would do if the other meets specific conditions.