Asia & the Pacific

Joseph S. Nye writes that evaluating ethics in international relations is difficult, and Kissinger's legacy is particularly complex. Over his long tenure in government, he had many great successes, including with China and the Soviet Union and the Middle East. Kissinger also had major failures, including in how the Vietnam War ended. But on net, his legacy is positive. In a world haunted by the specter of nuclear war, his decisions made the international order more stable and safer.

Today’s economic crisis leaves us with an unsettling and perplexing regret. Why weren’t financial portfolios already adjusted for risks that stem from health events such as pandemics? After all, financial portfolios are adjusted for liquidity risks, market risks, credit risks, and even operational and political risks.

Could using the cash in your pocket have the potential to spread covid-19? That question has rarely appeared in the news, but many governments and leaders in the digital payments industry are wondering how the virus might impact the use of cash. Several countries have already taken drastic measures to limit circulation of bank notes. Could such interventions lead to the end of cash payments?

Because hand-to-hand exchange of physical currency could transmit the coronavirus, countries around the world are being forced to reconsider the use of cash. In fact, COVID-19 might turn out to be the catalyst that finally brings digital payments fully into the mainstream. Not surprisingly, the digital-payments industry is already focusing on the opportunities created by the crisis.

How do presidents incorporate morality into decisions involving the national interest? Moral considerations explain why Truman, who authorized the use of nuclear weapons in Japan during World War II, later refused General MacArthur's request to use them in China during the Korean War. What is contextual intelligence, and how does it explain why Bush 41 is ranked first in foreign policy, but Bush 43 is found wanting? Is it possible for a president to lie in the service of the public interest? In this episode, Professor Joseph S. Nye considers these questions as he explores the role of morality in presidential decision-making from FDR to Trump.