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.

Many energy consumers, and even analysts and policymakers, confront and frame energy and climate risks in a moral vacuum, rarely incorporating broader social justice concerns. Here, to remedy this gap, we investigate how concepts from justice and ethics can inform energy decision-making by reframing five energy problems — nuclear waste, involuntary resettlement, energy pollution, energy poverty and climate change — as pressing justice concerns.

Realist scholars have long debated the question of how much power states need to feel secure. Offensive realists claim that states should constantly seek to increase their power. Defensive realists argue that accumulating too much power can be self-defeating. Proponents of hegemonic stability theory contend that the accumulation of capabilities in one state can exert a stabilizing effect on the system. The three schools describe different points along the power con­tinuum. When a state is weak, accumulating power increases its security. This is approximately the situation described by offensive realists. A state that con­tinues to accumulate capabilities will eventually triggers a balancing reaction that puts its security at risk. This scenario accords with defensive realist as­sumptions. Finally, when the state becomes too powerful to balance, its oppo­nents bandwagon with it, and the state’s security begins to increase again. This is the situation described by hegemonic stability theory. These three stages delineate a modified parabolic relationship between power and secu­rity. As a state moves along the power continuum, its security increases up to a point, then decreases, and finally increases again. This modified parabolic re­lationship allows scholars to synthesize previous realist theories into a single framework.

How might Iran retaliate in the aftermath of a limited Israeli or U.S. strike? The most economically devastating of Iran's potential responses would be closure of the Strait of Hormuz. According to open-source order of battle data, as well as relevant analogies from military history and GIS maps, Iran does possess significant littoral warfare capabilities, including mines, antiship cruise missiles, and land-based air defense. If Iran were able to properly link these capabilities, it could halt or impede traffic in the Strait of Hormuz for a month or more. U.S. attempts to reopen the waterway likely would escalate rapidly into sustained, large-scale air and naval operations during which Iran could impose significant economic and military costs on the United States — even if Iranian operations were not successful in truly closing the strait. The aftermath of limited strikes on Iran would be complicated and costly, suggesting needed changes in U.S. force posture and energy policy.

This paper analyzes how climate change research and analysis is performed in India, a major lesser-industrialized country.

Dr. Ashton B. Carter explains the counterproliferation policies needed to successfully wage a war on Weapons of Mass Destruction.

President Bush has called nuclear terror the defining threat the United States now faces. He's right, but he has yet to follow up his words with actions. This is especially frustrating since nuclear terror is preventable. Washington needs a strategy based on the "Three No's": no loose nukes, no nascent nukes, and no new nuclear states.