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21. The Future of the Liberal World Order

Author:
G. John Ikenberry
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
There is no longer any question: wealth and power are moving from the North and the West to the East and the South, and the old order dominated by the United States and Europe is giving way to one increasingly shared with non-Western rising states. But if the great wheel of power is turning, what kind of global political order will emerge in the aftermath? Some anxious observers argue that the world will not just look less American -- it will also look less liberal. Not only is the United States' preeminence passing away, they say, but so, too, is the open and rule-based international order that the country has championed since the 1940s. In this view, newly powerful states are beginning to advance their own ideas and agendas for global order, and a weakened United States will find it harder to defend the old system. The hallmarks of liberal internationalism -- openness and rule-based relations enshrined in institutions such as the United Nations and norms such as multilateralism -- could give way to a more contested and fragmented system of blocs, spheres of influence, mercantilist networks, and regional rivalries. The fact that today's rising states are mostly large non-Western developing countries gives force to this narrative. The old liberal international order was designed and built in the West. Brazil, China, India, and other fast-emerging states have a different set of cultural, political, and economic experiences, and they see the world through their anti-imperial and anticolonial pasts. Still grappling with basic problems of development, they do not share the concerns of the advanced capitalist societies. The recent global economic slowdown has also bolstered this narrative of liberal international decline. Beginning in the United States, the crisis has tarnished the American model of liberal capitalism and raised new doubts about the ability of the United States to act as the global economic leader.
Topic:
United Nations
Political Geography:
United States, China, Europe, and India

22. How to Save the Euro - and the EU

Author:
Henry Farrell and John Quiggin
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The European Union is in danger of compounding its ongoing economic crisis with a political crisis of its own making. Over the last year, crises of confidence have hit the 17 EU members that in the years since 1998 have given up their own currencies to adopt the euro. For the first decade of this century, markets behaved as though the debt of peripheral EU countries, such as Greece and Ireland, was as safe as that of core EU countries, such as Germany. But when bond investors realized that Greece had been cooking its books and that Ireland's fiscal posture was unsustainable, they ran for the door. The EU has stopped the contagion from spreading -- for now -- by creating the European Financial Stability Facility, which can issue bonds and raise money to help eurozone states. Together with the International Monetary Fund, the European Financial Stability Facility has already lent Greece and Ireland enough money to cover their short-term needs. But such bailouts are only stop-gap measures. Portugal and Spain, and to a lesser extent Belgium and Italy, remain vulnerable to pressure from bondholders. Portugal is likely to receive 50-100 billion euros over the next few months. But should Spain also need a bailout -- which could cost as much as 600 billion euros -- the 750 billion euro European Financial Stability Facility would soon be exhausted. In that event, the main euro creditors, primarily British, French, and German banks, might have to accept so-called haircuts, substantial cuts in the principals of their loans. (The banks' tax-avoidance strategies might inflate this total, but the Bank for International Settlements has estimated that the exposure of British, French, and German banks to the group of vulnerable debtor states referred to as the PIGS -- Portugal, Ireland, Greece, and Spain -- amounted to more than $1 trillion in mid-2010.) Encouraged by Germany, some of the states in difficulty have sought to placate bond markets by making ruthless cuts in government spending. But as many economists have pointed out, these measures are hindering growth without satisfying bondholders that their money is safe; bondholders worry that these measures are not politically sustainable. In fact, they are likely to undermine Europe's political union.
Political Geography:
Europe, Greece, Germany, Belgium, and Ireland

23. NATO After Libya

Author:
Anders Fogh Rasmussen
Publication Date:
07-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
NATO's sea and air mission in Libya is the first major military engagement undertaken since the global financial crisis. With European NATO allies drastically reducing their defense spending, there were legitimate fears as to whether they could still afford to respond to such complex crises. Reports early on that the operation lacked sufficient strike capabilities reinforced these fears. But the unprecedented speed, scale, and sustained pace of execution of Operation Unified Protector tell a different story. As of early May, the pace of air sorties had remained high since the beginning of the operation, and strikes had accounted for just under half of those sorties. When requirements changed as Muammar al-Qaddafi's forces altered their tactics, NATO allies provided more of the high-precision strike capabilities that the commanders needed. Meanwhile, more than a dozen ships have been patrolling the Mediterranean Sea and enforcing the UN arms embargo. The mission in Libya has revealed three important truths about military intervention today. First, to those who claimed that Afghanistan was to be NATO's last out-of-area mission, it has shown that unpredictability is the very essence of security. Second, it has proved that in addition to frontline capabilities, such as fighter-bombers and warships, so-called enablers, such as surveillance and refueling aircraft, as well as drones, are critical parts of any modern operation. And third, it has revealed that NATO allies do not lack military capabilities. Any shortfalls have been primarily due to political, rather than military, constraints. In other words, Libya is a reminder of how important it is for NATO to be ready, capable, and willing to act. Although defense is and must remain the prerogative of sovereign nations, an alliance that brings Europe and North America together requires an equitable sharing of the burden in order to be efficient. Downward trends in European defense budgets raise some legitimate concerns. At the current pace of cuts, it is hard to see how Europe could maintain enough military capabilities to sustain similar operations in the future. And this touches on a fundamental challenge facing Europe and the alliance as a whole: how to avoid having the economic crisis degenerate into a security crisis. The way Europe responds to this challenge could determine its place in the global order and the future of security.
Topic:
NATO
Political Geography:
Afghanistan, Europe, Libya, and North America

24. Why Middle East Studies Missed the Arab Spring

Author:
F. Gregory Gause III
Publication Date:
07-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The vast majority of academic specialists on the Arab world were as surprised as everyone else by the upheavals that toppled two Arab leaders last winter and that now threaten several others. It was clear that Arab regimes were deeply unpopular and faced serious demographic, economic, and political problems. Yet many academics focused on explaining what they saw as the most interesting and anomalous aspect of Arab politics: the persistence of undemocratic rulers. Until this year, the Arab world boasted a long list of such leaders. Muammar al-Qaddafi took charge of Libya in 1969; the Assad family has ruled Syria since 1970; Ali Abdullah Saleh became president of North Yemen (later united with South Yemen) in 1978; Hosni Mubarak took charge of Egypt in 1981; and Zine el-Abidine Ben Ali ascended to Tunisia's presidency in 1987. The monarchies enjoyed even longer pedigrees, with the Hashemites running Jordan since its creation in 1920, the al-Saud family ruling a unified Saudi Arabia since 1932, and the Alaouite dynasty in Morocco first coming to power in the seventeenth century. These regimes survived over a period of decades in which democratic waves rolled through East Asia, eastern Europe, Latin America, and sub-Saharan Africa. Even the Arab countries' neighbors in the Muslim Middle East (Iran and Turkey) experienced enormous political change in that period, with a revolution and three subsequent decades of political struggle in Iran and a quasi-Islamist party building a more open and democratic system in secular Turkey.
Political Geography:
America, Europe, Turkey, Middle East, and Arabia

25. Partners in Preventive Action: The United States and International Institutions

Author:
Paul B. Stares and Micah Zenko
Publication Date:
09-2011
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
With the U.S. military overstretched after a decade of continuous combat operations and Washington facing acute fiscal pressures, the strategic logic of preventive action to reduce the number of foreign crises and conflicts that could embroil the United States in burdensome new commitments has never been more compelling.
Topic:
Globalization, International Organization, International Trade and Finance, Peace Studies, and United Nations
Political Geography:
United States, Europe, Washington, and Southeast Asia

26. Europe's Palestine Problem

Author:
Rory Miller
Publication Date:
09-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
In the middle of a stalled peace process, one of the few things Israeli and Palestinian officials agree on is that U.S. President Barack Obama deserves much of the blame for the impasse. Israeli policymakers are furious with the demand that Obama made early in his term that Israel freeze settlement construction in the West Bank and with his declaration in May that Israel's 1967 borders should serve as the starting point for peace discussions. Palestinian leaders, for their part, believe that Obama has failed to fulfill the promise he made in his June 2009 Cairo speech to back their legitimate aspirations for statehood, and they are irritated that he has not forced the Israelis to continue the settlement freeze. The recent decisions by Palestinian President Mahmoud Abbas to strike a unity deal with Hamas and press for UN recognition of Palestinian statehood is a sign of how frustrated with Washington he has become. In the face of this impasse, a variety of international figures are now asking Europe to step in. Arab leaders such as former Arab League Secretary-General Amr Moussa have called on Europe to take charge of the peace process. In a May meeting with EU officials, for example, King Abdullah of Jordan urged Europe "to intensify efforts with a view to removing the obstacles that impede the resumption of the peace process." The EU's current political and diplomatic leaders need no encouragement. They already seem to feel that they have both a right and a duty to help solve the conflict. Last year, then French Foreign Minister Bernard Kouchner and Miguel Ángel Moratinos, his Spanish counterpart, said in a joint statement that the EU "must play a role because it is a friend of Israel and of the Palestinian Authority [PA] and above all because its own long-term security is at stake."
Topic:
Security and United Nations
Political Geography:
United States, Europe, and Palestine

27. Can Europe's Divided House Stand?

Author:
Hugo Nixon
Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Conventional wisdom has it that the eurozone cannot have a monetary union without also having a fiscal union. Euro-enthusiasts see the single currency as the first steppingstone toward a broader economic union, which is their dream. Euroskeptics do, too, but they see that endgame as hell -- and would prefer the single currency to be dismantled. The euro crisis has, for many observers, validated these notions. Both camps argue that the eurozone countries' lopsided efforts to construct a monetary union without a fiscal counterpart explain why the union has become such a mess. Many of the enthusiasts say that the way forward is for the 17 eurozone countries to issue euro bonds, which they would all guarantee (one of several variations on the fiscal-union theme). Even the German government, which is reluctant to bail out economies weaker than its own, thinks that some sort of pooling of budgets may be needed once the current debt problems have been solved. A fiscal union would not come anytime soon, and certainly not soon enough to solve the current crisis. It would require a new treaty, and that would require unanimous approval. It is difficult to imagine how such an agreement could be reached quickly given the fierce opposition from politicians and the public in the eurozone's relatively healthy economies (led by Finland, Germany, and the Netherlands) to repeated bailouts of their weaker brethren (Greece, Ireland, Italy, Portugal, and Spain). Moreover, once the crisis is solved, the enthusiasm for a fiscal union may wane. Even if Germany is still prepared to pool some budgetary functions, it will insist on imposing strict discipline on what other countries can spend and borrow. The weaker countries, meanwhile, may not wish to submit to a Teutonic straitjacket once the immediate fear of going bust has passed.
Topic:
Economics and Government
Political Geography:
Europe, Finland, Greece, Germany, Spain, Italy, Netherlands, Portugal, and Ireland

28. Counterrevolution in Kiev

Publication Date:
11-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
President Viktor Yanukovych has led Ukraine, no stranger to crisis, into another round of turmoil. He has rolled back democracy while failing to take on corruption or take the country closer to Europe. Now, much of the public has turned against him -- and the country could be headed for more unrest.
Topic:
Government and Politics
Political Geography:
Europe and Ukraine

29. West is Best?

Author:
Timur Kuran
Publication Date:
01-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
A new book by Ian Morris tracks the development of the East and the West over the millennia. But methodological problems lead him to miss the crucial differences between modern and premodern life -- and understate what is really keeping the West ahead.
Topic:
Development, Economics, and History
Political Geography:
China, Europe, and Middle East

30. Currency Wars, Then and Now

Author:
Liaquat Ahamed
Publication Date:
03-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The aftermath of the Great Depression saw a burst of competitive currency devaluations and protectionism that undermined confidence in an open global economy. As countries recover from the financial crisis today, they need to heed the lessons of the past and avoid the beggar-thy-neighbor policies of the 1930s.
Topic:
War and Financial Crisis
Political Geography:
Europe