Asia & the Pacific

In this deeply personal book, Joseph Nye shares his own journey living through the American century.

Americans have long seen their country as morally exceptional, but their exceptionalism actually comprises three distinct views. Whichever prevails in next year's presidential election will have significant implications for ongoing conflicts in Europe, Asia, and the Middle East.

Stephen Walt argues that in a multipolar world, the United States will be in an ideal situation to play the other major powers off against each other, and it can let its partners in Eurasia bear more of the burden of their own security. 

Grant Golub argues that the root cause of the so-called pivot to Asia's failure is Washington's continued belief that U.S. power and interests are global and universal. If U.S. decisionmakers truly seek to reorient U.S. strategic priorities, they need a clear hierarchy of the country's interests and obligations.

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

Stephen Walt writes that the world has returned to a state that realism explains best, one where great powers compete for power and influence and others adapt as best they can.

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

Joseph Nye argues hat the major threat to U.S. power comes from its internal divisions. These are serious liabilities but they were not created by the invasion of Ukraine.

In late 2017, Mexico made headlines as Italian company Enel bid what was then a world-record low price for renewable energy in the country’s third such energy auction. This development was possible due to the historical and sweeping energy reforms passed with broad support in Mexico in 2013. Then-President Enrique Peña Nieto had succeeded where previous Mexican presidents had failed, reversing decades of resource nationalism and overhauling the energy sector through constitutional reforms that gave the private sector a larger role and advantaged renewable energy in Mexico’s economy. The 2017 auction seemed to indicate Mexico’s bright future not only as a conventional oil producer, but also as a clean energy power.

Joseph Nye analyzes why the Cold War metaphor in relation to  the U.S. and China, although convenient, is lazy and potentially dangerous. It obscures and misleads us by underestimating the real challenge we face — and offering ineffective strategies.