Energy

Russia's 2022 invasion of Ukraine illuminated the long profound shadow of nuclear weapons over international security. Russia's nuclear threats have rightfully garnered significant attention because of the unfathomable lethality of nuclear weapons. However, the use of such weapons in Ukraine is only one way—albeit the gravest— that Russia could challenge the global nuclear order. Russia's influence extends deep into the very fabric of this order—a system to which it is inextricably bound by Moscow's position in cornerstone institutions such as the Nuclear Non-Proliferation Treaty (NPT) and the International Atomic Energy Agency (IAEA). From withdrawing from key treaties to stymieing resolutions critical of misconduct, Moscow has demonstrated its ability to challenge the legitimacy, relevance, and interpretations of numerous standards and principles espoused by the West.

Joseph Nye considers lessons from his own work on preventing the spread of nuclear technology in the 1970s.

To keep oil flowing and diminish the U.S., Beijing brokers a deal between Iran and Saudi Arabia.

By investing in the public and private sector research and development in this space, and by fostering a community of researchers, entrepreneurs, and investors literate in CO2 capture opportunities, the United States can be the leader of this new economic sector. It is essential for the Nation to build a vibrant and sustained research and development community spanning the public sector, academic and research domains, and for-profit companies, ensuring world leadership in this new technological domain.

President-elect Joe Biden’s decision to create a new cabinet-level position for climate-related issues — and to choose so prominent a figure as former Secretary of State John Kerry to fill it — demonstrates Biden’s sincerity over putting climate at the very center of U.S. foreign policy. It is easy to understate the importance of this appointment, given the flurry of czars created by most new administrations.

Once again, new economic readings from the World Bank's International Comparison Program have fed into the long-going debate over whether China is surpassing the United States as an economic and financial power. And once again, the answer to that question is a qualified "no."

The world is on the cusp of a geopolitical reset. The global pandemic could well undermine international institutions, reinforce nationalism and spur de-globalization. But far-sighted leadership could also rekindle cooperation, glimmers of which appeared in the G-20’s offer of debt relief for some of the world’s poorest countries, a joint plea from more than 200 former national leaders for a more coordinated pandemic response and an unprecedented multinational pact to arrest the crash in oil markets.  

Henry Kissinger warns that many existing domestic and international institutions that have helped govern the past decades will not survive the Covid-19 crisis. He is surely correct.

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.

Unipolarity is over, and with it the illusion that other nations would simply take their assigned place in a U.S.-led international order. For the United States, that will require accepting the reality that there are spheres of influence in the world today—and that not all of them are American spheres.