Asia & the Pacific

Kari A. Bingen and Heather W. Williams write that if Russia plans to deploy nuclear weapons in space to target satellites, the threat is definitely serious—and the U.S. should act fast.

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?

Recent quantitative scholarship uses warhead counts to examine whether nuclear superiority offers political or military benefits beyond having a secure second-strike capability. These analyses overlook other elements of a state’s nuclear capability such as state perceptions and beliefs.

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.

It is a critical first step that the financial policymakers of the United States have acknowledged the need for a CBDC, but that realization is not enough. 

On August 6, 1945, the United States dropped an atomic bomb on Hiroshima, Japan, launching the nuclear age. On the 75th anniversary of that somber event, Belfer Center experts reflect on the event and its aftermath. 

Rebecca Davis Gibbons and Stephen Herzog provide an update on current efforts to eliminate nuclear weapons. 

The administration of President Donald J. Trump has consistently used fear of China to undermine nearly five decades of bipartisan consensus on US–Russian nuclear arms control. The negative consequences of these actions may last far beyond the Trump presidency. If generations of agreement between Democrats and Republicans on bilateral nuclear treaties with Russia erode, it will pose a significant setback to US national security and global stability. Future leaders may ultimately need to consider new approaches to nuclear risk reduction that preserve the benefits of the arms control regime.

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. 

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.