South Asia

The small open economies of the Gulf and Southeast Asia are pioneers in the establishment of

Sovereign Wealth Funds (SWFs). The SWFs of countries like Qatar and Singapore are among the

world’s largest in terms of total asset size relative to Gross Domestic Product. This article looks

at the different compulsions behind the setting up of SWFs by small open economies.

When do states acquire nuclear weapons? History shows that only two types of states decide that the bomb is essential to their security: 1) very powerful states; and 2) weak states that lack ironclad security guarantees.

Policymakers have long focused on preventing nuclear weapons proliferation by controlling technology. Even developing countries, however, may now possess the technical ability to create nuclear weapons. The history of gas centrifuge development in twenty countries supports this perspective. To reduce the demand for nuclear weapons, policymakers will have look toward the cultural, normative, and political organization of the world.

Ronak Desai, an Associate with the India and South Asia Program, reflects on the state of U.S.-Pakistan relations and its prospects for the future.

"While journalists have provided a number of histories of the events that led to bin Laden's death, the purpose of this analysis is to examine White House decisionmaking for lessons that can be applied to future foreign policy challenges."

In a TIME magazine cover story, Belfer Center Director Graham Allison writes about decisions behind the raid that led to the death of Osama bin Laden. Allison, whose analysis is the result of more than 100 hours of interviews, is author of the prize-winning analysis of the 1971 Cuban Missile Crisis, Essence of Decision.

Realist scholars have long debated the question of how much power states need to feel secure. Offensive realists claim that states should constantly seek to increase their power. Defensive realists argue that accumulating too much power can be self-defeating. Proponents of hegemonic stability theory contend that the accumulation of capabilities in one state can exert a stabilizing effect on the system. The three schools describe different points along the power con­tinuum. When a state is weak, accumulating power increases its security. This is approximately the situation described by offensive realists. A state that con­tinues to accumulate capabilities will eventually triggers a balancing reaction that puts its security at risk. This scenario accords with defensive realist as­sumptions. Finally, when the state becomes too powerful to balance, its oppo­nents bandwagon with it, and the state’s security begins to increase again. This is the situation described by hegemonic stability theory. These three stages delineate a modified parabolic relationship between power and secu­rity. As a state moves along the power continuum, its security increases up to a point, then decreases, and finally increases again. This modified parabolic re­lationship allows scholars to synthesize previous realist theories into a single framework.