Articles

A interview conducted by The Fletcher School Forum with Ambassador Nicholas Burns, Former Under Secretary of State for Political Affairs.

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.

Although Russia can no longer exercise hegemonic power or demand exclusive rights of engagement, it is still the preponderant regional player in Central Asia.

Sovereign wealth funds – large state-owned investment funds – are key players in international finance, but little is known about their underlying political drivers. Why do some states with surpluses choose to create sovereign wealth funds, while others advocate private finance institutions instead? This article speaks directly to this question by investigating the variation in sovereign wealth fund choices across nations with excess reserves. 

Indian Prime Minister Narendra Modi traveled to Washington last week, making his fourth trip to the United States since taking office just two years ago. India and South Asia Program Fellow, Ronak Desai examines the strategic approach to India's relations with the United States.

Many experts consider nuclear terrorism the single greatest threat to U.S. security. The fear that a state might transfer nuclear materials to terrorists was a core justification for the invasion of Iraq in 2003 and, more recently, for a strike against Iran’s nuclear program. The logical basis for this concern is sound: if a state could orchestrate an anonymous nuclear terror attack, it could destroy an enemy yet avoid retaliation. But how likely is it that the perpetrators of nuclear terrorism could remain anonymous? Data culled from a decade of terrorist incidents reveal that attribution is very likely after high-casualty terror attacks. Attribution rates are even higher for attacks on the U.S. homeland or the territory of a major U.S. ally—97 percent for incidents in which ten or more people were killed. Moreover, tracing a terrorist group that used a nuclear weapon to its state sponsor would not be difficult, because few countries sponsor terror; few terror groups have multiple sponsors; and only one country that sponsors terrorism, Pakistan, has nuclear weapons or enough material to manufacture them. If leaders understand these facts, they will be as reluctant to give weapons to terrorists as they are to use them directly; both actions would invite devastating retaliation.

Read an excerpt in The Times of India from a new book on Lee Kuan Yew by Belfer Center Director Graham Allison and Ambassador Robert D. Blackwill, with Belfer Center Associate Ali Wyne. The book is titled: Lee Kuan Yew: The Grand Master's Insights on China, the United States, and the World.

"...Asia has its own internal balance of powers, and in that context, many states continue to welcome an American presence in the region. Chinese leaders have to contend with the reactions of other countries, as well as the constraints created by their own objectives of economic growth and the need for external markets and resources. Too aggressive a Chinese military posture could produce a countervailing coalition among its neighbors that would weaken both its hard and soft power. A poll of 16 countries around the world found a positive attitude toward China’s economic rise, but not its military rise."

Matthew Fuhrmann's article "Spreading Temptation: Proliferation and Peaceful Nuclear Cooperation Agreements," was published by in the Summer 2009 issue of International Security. In his article, Dr. Fuhrmann argues "Peaceful nuclear cooperation—the transfer of nuclear technology, materials, or know-how from one state to another for peaceful purposes—leads to the spread of nuclear weapons. With a renaissance in nuclear power on the horizon, major suppliers, including the United States, should reconsider their willingness to assist other countries in developing peaceful nuclear programs."

In order to create a truly strategic relationship, the Obama administration will need to go beyond the civil nuclear cooperation, drawing on areas of common concern and interest.