Articles

Stephen Walt argues for a return to a realism-based U.S. grand strategy.

The extraordinary complexity of today’s advanced weapons systems has significantly reduced the ability of states to imitate other states’ military technology. Consequently, U.S. rivals such as China will continue to struggle to develop indigenous capabilities that can match those of the United States.

Sovereign wealth funds (SWFs) have traditionally been created to recycle excess reserves from natural resource or non‐commodity revenues. However, in recent years funds are being established under conditions of capital scarcity with objectives to contribute domestic economic development, often through the buildout of national infrastructure programs. Such trends in new fund creation represent a fundamental shift in the sovereign wealth fund paradigm and raise serious questions about how these entities are to be capitalized and also the implications of capitalization models on their sustainability. This study examines the recent evolution of SWF models focused on economic development. Its analytic focus is drawn, in particular, to countries that are neither endowed with oil wealth, nor otherwise enjoy export surpluses to be used to capitalize a development‐oriented SWF. While this study is relevant to and expands the scope of the broad literature on SWFs, its specific contribution is as a focused analysis of how SWF funding sources impact achieving long‐term financial and socio‐economic development objectives.

This paper provides an overview of the debate surrounding the Nabucco pipeline’s cancellation. Conventional wisdom holds that Nabucco failed for political reasons, but the real cause of its failure was the emergence of two more economically viable pipeline plans.

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.

This paper attempts to present a full picture of the current status and future trends of China's oil development through system analysis. The authors design three scenarios of China's oil demand in 2030 and analyze policy implications for oil conservation, automotive energy development, and energy security. From their analysis, they draw some conclusions for policy decisions, such as controlling total oil consumption to avoid energy security risks, enhancing oil conservation in all sectors with the emphasis on road transportation, and increasing investment in oil production and refining to secure oil supply and reduce emissions.

An integrated carbon dioxide (CO2) capture and storage (CCS) system requires safe and cost-efficient solutions for transportation of the CO2 from the capturing facility to the location of storage. While growing efforts in China are underway to understand CO2 capture and storage, comparatively less attention has been paid to CO2 transportation issues. Also, to the best of our knowledge, there are no publicly available China-specific cost models for CO2 pipeline transportation that have been published in peer-reviewed journals. This paper has been developed to determine a first-order estimate of China's cost of onshore CO2 pipeline transportation.

"China issued its first Fuel Economy Standards (FES) for light-duty passenger vehicles (LDPV) in September 2004, and the first and second phases of the FES took effective in July 2005 and January 2008, respectively. The stringency of the Chinese FES ranks third globally, following the Japanese and European standards....The Chinese experience is highly relevant for countries that are also experiencing or anticipating rapid growth in personal vehicles, those wishing to moderate an increase in oil demand, or those desirous of vehicle technology upgrades."