Environment & Climate Change

Russian military action in Ukraine could trigger an energy crisis even more serious than the one already hitting Europe. As has been pointed out, should the West hit Russia with severe new sanctions, President Vladimir Putin could cut off natural gas exports, leaving the continent shivering through midwinter. Yet there is another potential weapon of Russia’s that’s been less discussed and might be very effective: An ability to disrupt global oil markets, which would directly hit U.S. consumers.

Stephen Walt enumerates the challenges the U.S. president should prepare for in 2021.

Stephen Walt describes how the United States' rise was fueled by fortunate circumstances that seem unlikely to last much longer. He lists four reasons why the country's luck just might be running out.

Stephan Walt writes that Trump's foreign-policy instincts might be more sound—but he has forfeited the chance to lead.

Estimating the long-term effect of the current pandemic is not an exact prediction of the future, but an exercise in weighing probabilities and adjusting current policies. When envisioning the international order in 2030,  joseph Nye details five scenarios that stand out.

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.

As the world's two largest economies, the United States and China are condemned to a relationship that must combine competition and cooperation. For the United States, exceptionalism now includes working with the Chinese to help produce global public goods, while also defending values such as human rights.

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.