Asia & the Pacific

White Southerners opposed to Reconstruction used violence to undermine Black political power and force uncommitted white Southerners to their side. Although structural factors made it harder for the U.S. government to suppress this violence, a series of policy failures prompted Reconstruction’s failure and generations of injustice.

As the United States emerges from the era of so-called forever wars, it should abandon the regime change business for good. Then, Washington must understand why it failed, writes Stephen Walt.

The geopolitical and geo-economic forces wrought by the coronavirus pandemic, as examined previously in this series, are likely to slow the transition to a more sustainable global energy mix. Fortunately, the pandemic has also resulted in governments gaining vastly greater influence over whether this shift stalls or accelerates.

For most people, there was nothing to celebrate when the International Monetary Fund downgraded its outlook for global economic growth in June, anticipating a contraction of 4.9% for 2020. Yet for others, such as the small but persistent group of economists and others known as the “degrowth movement,” the Covid-induced economic slowdown has a silver lining.

The search for silver linings to the coronavirus pandemic has come up woefully short. But one hopeful — and much talked of — prospect is that the disruption will accelerate the global shift to a more sustainable energy future.

Stephen Walt But poses the following question: What if foreign policy isn't as important as foreign-policy mavens maintain? What if developments and policies inside the country are far more consequential—at least most of the time—than what its leaders do on the global stage?

As economies begin to orient themselves towards recovery and growth in a post-COVID-19 era, they will first need to disentangle themselves from their prior bedfellows, the state, whose courtship was necessary for survival during the pandemic.  Such bedfellow relationships have become increasingly common as government intervention is urgently needed for economic stabilization. Governments have also embraced their new role with vigor. According to the IMF, as of April 2020, countries have committed around $8 trillion to combat the pandemic and to remedy its ill effects on economies and societies. Decisions about how this money will be spent will undoubtedly recalibrate the logic of capitalism for years to come. 

While much of the world is consumed by the COVID-19 crisis, the Chinese government is quietly unleashing a financial innovation that will reshape its economy and improve its strategic standing for decades to come. In April, China’s central bank introduced the “digital yuan” in a pilot program across four cities, becoming the world’s first major economy to issue a national digital currency.

All national leaders must put their countr's interests first, but the important question is how broadly or narrowly they define those interests. Both China and the US are responding to COVID-19 with an inclination toward short-term, zero-sum approaches, and too little attention to international institutions and cooperation.