Asia & the Pacific

A quarter-century ago, China conducted what it called “missile tests” bracketing the island of Taiwan to deter it from a move toward independence by demonstrating that China could cut Taiwan’s ocean lifelines. In response, in a show of superiority that forced China to back down, the United States deployed two aircraft carriers to Taiwan’s adjacent waters. If China were to repeat the same missile tests today, it is highly unlikely that the United States would respond as it did in 1996. If U.S. carriers moved that close to the Chinese mainland now, they could be sunk by the DF-21 and DF-26 missiles that China has since developed and deployed. This article presents three major theses concerning the military rivalry between China and the United States in this century.

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.

At one point in human history, water’s importance in war went beyond bearing convoys, hiding submarines, and slaking soldiers’ thirst. Water was often itself a weapon. In areas where it was scarce, armies took action to make it scarcer to force besieged enemy cities to capitulate, and in areas where it was abundant, combatants destroyed dams and watched the resulting floods carry their adversaries away. Today, however, most combatants recoil at the use of water as a weapon, and only the most depraved deploy it.

Since the end of World War II, nation-states in international conflict have made concerted efforts to restrain the weaponization of water. Distinct from realist and rationalist explanations, the historical record reveals the rise of an international normative inhibition—a “water taboo”—on using water as a weapon.

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.

At the start of this year, things seemed to be looking up for the global economy. True, growth had slowed a bit in 2019: from 2.9% to 2.3% in the United States, and from 3.6% to 2.9% globally. Still, there had been no recession, and as recently as January, the International Monetary Fund projected a global growth rebound in 2020. The new coronavirus, COVID-19, has changed all of that.

Nathaniel Moir writes that Revolutionary Warfare is not insurgency or guerrilla warfare: It is driven by ideology and commitment, not technology. Revolutionary Warfare's foundation is the perceived legitimacy of its political rationale among the population in which it is propagated. No matter how expertly or technologically advanced contemporary conflict is fought, it will not compensate for lack of political rationale.