Remember the age of globalization, if you can. The world was flat. High finance was king. Swelling economic prosperity had lifted hundreds of millions out of poverty. Capitalism, in a variety of configurations, stretched from one end of the earth to the other. Even individual states were fading in importance, and the threat of a great-power war had all but come to an end. How quickly that utopia has been shattered. In short, the world is very much round again. Investment banking has collapsed. The global financial crisis is elbowing the poor aside. Corruption and rampant irresponsibility have resulted in [...]
An Association of Southeast Asian Nations summit meeting concluded in Thailand on March 1 with a renewed consensus (.pdf) against protectionism and in support of free trade. In a rare moment of unity for the alliance’s 10 members, the ASEAN foreign ministers signed a free-trade agreement with Australia and New Zealand, while finance ministers of ASEAN Plus Three — China, Japan, and South Korea — expanded their emergency foreign currency fund from $80 billion to $120 billion. ASEAN’s anti-protectionist stance appears to be driven by concerns over exports to the United States, in light of President Barack Obama’s campaign promises [...]
What are the two most pressing issues on the U.S. foreign policy agenda? Ask that question of 10 foreign policy mavens and nine will say Afghanistan and Iran. The other one will say Iran and Afghanistan. If the Obama administration manages to stabilize the situation in Afghanistan and find a (lasting) solution to the vexing problem of Iran’s nuclear ambitions over the next four years, it’s hard to imagine his first term won’t be deemed a smashing foreign policy success. It is against this background that U.S. Secretary of State Hillary Clinton’s meeting today in Geneva with Russian Foreign Minister [...]
