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81. True Peace Is Hard To Find

Author:
David Harris
Publication Date:
03-2012
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
After reading the compelling case made by Yosef Kuperwasser and Shalom Lipner in “The Problem Is Palestinian Rejectionism” (November/December 2011), it was quite jarring to read the companion piece, “Israel's Bunker Mentality,” by Ronald Krebs. Krebs' argument boils down to this: Israel was doing quite nicely as a liberal, secular state until 1967, when a war mysteriously descended on it, and since then an illiberal, ethnocentric nationalism has taken over and redefined the country. In the process, Krebs contends, Israel became enamored with the occupation of territories acquired during the Six-Day War, helped along by a growing ultra-Orthodox community and large-scale Russian immigration.
Topic:
War
Political Geography:
Russia, United States, Israel, and Palestine

82. Reports Of The Bear's Death Are Greatly Exaggerated

Author:
Mark Adomanis
Publication Date:
03-2012
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Nicholas Eberstadt (“The Dying Bear,” November/December 2011) is surely correct that a rapidly depopulating Russia would be confronted with a number of essentially irresolvable economic, military, and political problems. However, data from Russia's Federal State Statistics Service suggest that over the last decade, Russia's demographic indicators have in fact been getting better. Moreover, this improvement has intensified since the onset of the 2008 global financial crisis, confounding a number of Western experts who predicted that the downturn would have a similar eªect within Russia to that of the country's debt default in 1998, when fertility plummeted and mortality skyrocketed.
Topic:
Political Economy
Political Geography:
Russia and Ukraine

83. Debating Europe

Author:
Norman Davies
Publication Date:
03-2012
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Andrew Moravcsik's review of David Marquand's book The End of the West (“Recent Books on International Relations,” September/October 2011) characterized Marquand as both a political turncoat and a weak-kneed, inconsistent thinker who has reversed his position on European integration. These are damaging accusations, and both are manifestly untrue. Marquand has always been a pillar of the United Kingdom's democratic left; he stuck with the Social Democratic Party from start to finish, and he has never wavered in his advocacy of European integration.
Topic:
International Relations
Political Geography:
United Kingdom and Europe

84. Demystifying the Arab Spring

Author:
Lisa Anderson
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
In Tunisia, protesters escalated calls for the restoration of the country's suspended constitution. Meanwhile, Egyptians rose in revolt as strikes across the country brought daily life to a halt and toppled the government. In Libya, provincial leaders worked feverishly to strengthen their newly independent republic. It was 1919. That year's events demonstrate that the global diffusion of information and expectations -- so vividly on display in Tahrir Square this past winter -- is not a result of the Internet and social media. The inspirational rhetoric of U.S. President Woodrow Wilson's Fourteen Points speech, which helped spark the 1919 upheavals, made its way around the world by telegraph. The uprisings of 1919 also suggest that the calculated spread of popular movements, seen across the Arab world last winter, is not a new phenomenon. The Egyptian Facebook campaigners are the modern incarnation of Arab nationalist networks whose broadsheets disseminated strategies for civil disobedience throughout the region in the years after World War I. The important story about the 2011 Arab revolts in Tunisia, Egypt, and Libya is not how the globalization of the norms of civic engagement shaped the protesters' aspirations. Nor is it about how activists used technology to share ideas and tactics. Instead, the critical issue is how and why these ambitions and techniques resonated in their various local contexts. The patterns and demographics of the protests varied widely. The demonstrations in Tunisia spiraled toward the capital from the neglected rural areas, finding common cause with a once powerful but much repressed labor movement. In Egypt, by contrast, urbane and cosmopolitan young people in the major cities organized the uprisings. Meanwhile, in Libya, ragtag bands of armed rebels in the eastern provinces ignited the protests, revealing the tribal and regional cleavages that have beset the country for decades. Although they shared a common call for personal dignity and responsive government, the revolutions across these three countries reflected divergent economic grievances and social dynamics -- legacies of their diverse encounters with modern Europe and decades under unique regimes.
Topic:
Government
Political Geography:
United States, Libya, Arabia, Egypt, and Tunisia

85. Understanding the Revolutions of 2011

Author:
Jack A. Goldstone
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Revolutions rarely succeed, writes one of the world's leading experts on the subject -- except for revolutions against corrupt and personalist "sultanistic" regimes. This helps explain why Tunisia's Ben Ali and Egypt's Mubarak fell -- and also why some other governments in the region will prove more resilient.
Topic:
War
Political Geography:
Soviet Union, Egypt, and Tunisia

86. The Heirs of Nasser

Author:
Michael Scott Doran
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Not since the Suez crisis and the Nasser-fueled uprisings of the 1950s has the Middle East seen so much unrest. Understanding those earlier events can help the United States navigate the crisis today -- for just like Nasser, Iran and Syria will try to manipulate various local grievances into a unified anti-Western campaign
Topic:
Cold War
Political Geography:
United States and Middle East

87. The Fall of the Pharaoh

Author:
Dina Shehata
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Mubarak's ouster was the natural outgrowth of his regime's corruption and economic exclusion, the alienation of Egypt's youth, and divisions among the country's elites. How those elites and the young protesters realign themselves now will determine whether post-Mubarak Egypt emerges as a true democracy.
Topic:
World Bank
Political Geography:
Egypt

88. The Black Swan of Cairo

Author:
Mark Blyth and Nassim Nicholas Taleb
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The upheavals in the Middle East have much in common with the recent global financial crisis: both were plausible worst-case scenarios whose probability was dramatically underestimated. When policymakers try to suppress economic or political volatility, they only increase the risk of blowups.
Topic:
War
Political Geography:
Middle East and Egypt

89. The Rise of the Islamists

Author:
Shadi Hamid
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
For decades, U.S. policy toward the Middle East has been paralyzed by "the Islamist dilemma" -- how can the United States promote democracy in the region without risking bringing Islamists to power? Now, it seems, the United States no longer has a choice. Popular revolutions have swept U.S.-backed authoritarian regimes from power in Tunisia and Egypt and put Libya's on notice. If truly democratic governments form in their wake, they are likely to include significant representation of mainstream Islamist groups. Like it or not, the United States will have to learn to live with political Islam. Washington tends to question whether Islamists' religious commitments can coexist with respect for democracy, pluralism, and women's rights. But what the United States really fears are the kinds of foreign policies such groups might pursue. Unlike the Middle East's pro-Western autocracies, Islamists have a distinctive, albeit vague, conception of an Arab world that is confident, independent, and willing to project influence beyond its borders. There is no question that democracy will make the region more unpredictable and some governments there less amenable to U.S. security interests. At their core, however, mainstream Islamist organizations, such as the Muslim Brotherhood in Egypt and Jordan and al Nahda in Tunisia, have strong pragmatic tendencies. When their survival has required it, they have proved willing to compromise their ideology and make di⁄cult choices. To guide the new, rapidly evolving Middle East in a favorable direction, the United States should play to these instincts by entering into a strategic dialogue with the region's Islamist groups and parties. Through engagement, the United States can encourage these Islamists to respect key Western interests, including advancing the Arab-Israeli peace process, countering Iran, and combating terrorism. It will be better to develop such ties with opposition groups now, while the United States still has leverage, rather than later, after they are already in power.
Topic:
Security and Terrorism
Political Geography:
United States, Middle East, Libya, Egypt, and Tunisia

90. Terrorism After the Revolutions

Author:
Daniel Byman
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
On December 17, Mohamed Bouazizi, a Tunisian street vendor, set himself on fire to protest police harassment. His death incited unrest throughout Tunisia; less than a month later, protests toppled Tunisian President Zine el-Abidine Ben Ali. Egypt, the most populous and influential country in the Arab world, soon followed suit. Al Qaeda met both these dramatic events with near silence. Only in mid-February did Osama bin Laden's Egyptian deputy, Ayman al-Zawahiri, officer comments. But even then, he did not directly address the revolutions or explain how jihadists should respond. Instead, he claimed that the Tunisian revolution occurred "against the agent of America and France," gamely trying to transform Tunisians' fight against corruption and repression into a victory for anti-Western jihadists. On Egypt, Zawahiri offered a rambling history lesson, ranging from Napoleon to the tyranny of the Mubarak government. He released his statement on Egypt on February 18, a week after Hosni Mubarak resigned, and offered little guidance to potential followers on how they should view the revolution or react to it. U.S. politicians are moving quickly to claim the revolutions and al Qaeda's muted response as victories in the struggle against terrorism. "This revolution is a repudiation of al Qaeda," declared Senator John McCain during a visit to Cairo on February 27. And indeed, looking out from bin Laden's cave, the Arab world looks less promising than it did only a few months ago. Although bin Laden and al Qaeda have been attempting to overthrow Arab governments for more than 20 years, the toppling of the seemingly solid dictatorships in Tunisia and Egypt caught them flat-footed and undermined their message of violent jihad. Nevertheless, al Qaeda and its allies could ultimately benefit from the unrest. For now, al Qaeda has greater operational freedom of action, and bin Laden and his allies will seek to exploit any further unrest in the months and years to come.
Topic:
Terrorism
Political Geography:
United States, Arabia, Egypt, and Tunisia

91. 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

92. Getting the Military Out of Pakistani Politics

Author:
Aqil Shah
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The United States has a major stake in Pakistan's stability, given the country's central role in the U.S.-led effort to, in U.S. President Barack Obama's words, "disrupt, dismantle, and defeat" al Qaeda; its war-prone rivalry with India over Kashmir; and its nuclear arsenal. As a result, U.S. policy toward Pakistan has been dominated by concerns for its stability -- providing the reasoning for Washington's backing of the Pakistani military's frequent interventions in domestic politics -- at the expense of its democratic institutions. But as the recent eruption of protests in the Middle East against U.S.-backed tyrants has shown, authoritarian stability is not always a winning bet. Despite U.S. efforts to promote it, stability is hardly Pakistan's distinguishing feature. Indeed, many observers fear that Pakistan could become the world's first nuclear-armed failed state. Their worry is not without reason. More than 63 years after independence, Pakistan is faced with a crumbling economy and a pernicious Taliban insurgency radiating from its Federally Administered Tribal Areas (FATA), the semiautonomous seven districts and six smaller regions along its border with Afghanistan. It is still struggling to meet its population's basic needs. More than half its population faces severe poverty, which fuels resentment against the government and feeds political instability. According to the World Bank, the Pakistani state's effectiveness has actually been in steady decline for the last two decades. In 2010, Foreign Policy even ranked Pakistan as number ten on its Failed States Index, placing it in the "critical" category with such other failed or failing states as Afghanistan, the Democratic Republic of the Congo, and Somalia. The consequences of its failure would no doubt be catastrophic, if for no other reason than al Qaeda and its affiliates could possibly get control of the country's atomic weapons. The Pakistani Taliban's dramatic incursions into Pakistan's northwestern Buner District (just 65 miles from the capital) in 2009 raised the specter of such a takeover.
Topic:
Government
Political Geography:
Pakistan, Afghanistan, United States, Washington, Middle East, India, and Kashmir

93. The Post-American Hemisphere

Author:
Russell Crandall
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
On August 18, 2010, a Venezuelan drug trafficker named Walid Makled was arrested in Colombia. U.S. officials accused him of shipping ten tons of cocaine a month to the United States, and they made a formal extradition request to try him in New York. Although the Venezuelan government had also made an extradition request for crimes Makled allegedly committed in Venezuela, senior U.S. diplomats were confident that the Colombian government would add him to the list of hundreds of suspects it had already turned over to U.S. judicial authorities in recent years. So it came as a surprise when Colombian President Juan Manuel Santos announced in November that he had promised Venezuelan President Hugo Chávez that Makled would be extradited to Venezuela, not the United States. Colombia, Washington's closest ally in South America, appeared to be unveiling a new strategic calculus, one that gave less weight to its relationship with Washington. What made the decision all the more unexpected is that the U.S. government still provides Colombia with upward of $500 million annually in development and security assistance, making Colombia one of the world's top recipients of U.S. aid. For the United States in Latin America today, apparently, $500 million just does not buy what it used to. Across the region in recent years, the United States has seen its influence decline. Latin American countries are increasingly looking for solutions among themselves, forming their own regional organizations that exclude the United States and seeking friends and opportunities outside of Washington's orbit. Some U.S. allies are even reconsidering their belief in the primacy of relations with the United States. Much of this has to do with the end of the Cold War, a conflict that turned Latin America into a battleground between U.S. and Soviet proxies. Washington has also made a series of mistakes in the years since then, arrogantly issuing ultimatums that made it even harder to get what it wanted in Latin America.
Topic:
Cold War
Political Geography:
United States, New York, Washington, Colombia, South America, and Latin America

94. 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

95. After Doha

Author:
Susan C. Schwab
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
It is time for the international community to recognize that the Doha Round is doomed. Started in November 2001 as the ninth multilateral trade negotiation under the auspices of the General Agreement on Tariffs and Trade and its successor, the World Trade Organization (WTO), the talks have sought to promote economic growth and improve living standards across the globe -- especially in developing countries -- through trade liberalization and reforms. Yet after countless attempts to achieve a resolution, the talks have dragged on into their tenth year, with no end in sight. To be sure, world leaders, negotiators, and commentators have expressed their unanimous support for a successful outcome -- the “balanced” and “ambitious” agreement called for by so many summit statements. But concluding a trade agreement is like pole-vaulting. Everything must come together at once -- after the extensive preparation and the building of momentum, there is that one giant leap -- with the hope that the entire body will sail over the bar. Most trade agreements survive several failed attempts before success is achieved. But the Doha Round keeps crashing into the bar.
Topic:
World Trade Organization

96. Who's Afraid of the International Criminal Court?

Author:
David A. Kaye
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Last February, soon after Libyan leader Muammar al-Qaddafi unleashed his forces against civilian protesters, the United Nations Security Council unanimously voted to refer the situation in Libya to the International Criminal Court. Days later, the ICC's chief prosecutor, Luis Moreno-Ocampo, announced the launch of an investigation of members of the Qaddafi regime, promising, "There will be no impunity in Libya." With the UN Security Council injecting the court into one of the year's biggest stories, the ICC may seem to have become an indispensable international player. It already is looking into some of the gravest atrocities committed in recent decades -- in the Democratic Republic of the Congo, Sudan, and Uganda, among others -- and its investigation into the 2007 election-related violence in Kenya is shaking up that country's elite. But a closer look suggests that the ICC's sleek office building on the outskirts of The Hague houses an institution that is still struggling to find its footing almost a decade after its creation. The court has failed to complete even one trial, frustrating victims as well as the dozens of governments that have contributed close to $1 billion to its budget since 2003. The ICC's first trial was nearly dismissed twice. Its highest-profile suspects -- Sudanese President Omar al-Bashir and Joseph Kony, the leader of the Lord's Resistance Army (LRA), the rebel group that has terrorized northern Uganda and neighboring areas -- have thumbed their noses at the court and are evading arrest. And with all six of the ICC's investigations involving abuses in Africa, its reputation as a truly international tribunal is in question.
Topic:
Security and United Nations
Political Geography:
Uganda, Sudan, Libya, and Democratic Republic of the Congo

97. Recalibrating Homeland Security

Author:
Stephen Flynn
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
The United States has made a mess of homeland security. This is hardly surprising. The policymakers responsible for developing homeland security policy in the wake of September 11, 2001, did so under extraordinary conditions and with few guideposts. The Bush administration's emphasis on combating terrorism overseas meant that it devoted limited strategic attention to the top-down law enforcement and border-focused efforts of the federal departments and agencies assigned new homeland security responsibilities. President Barack Obama has largely continued his predecessor's policies, and congressional oversight has been haphazard. As a result, nearly a decade after al Qaeda struck the World Trade Center and the Pentagon, Washington still lacks a coherent strategy for harnessing the nation's best assets for managing risks to the homeland -- civil society and the private sector. For much of its history, the United States drew on the strength of its citizens in times of crisis, with volunteers joining fire brigades and civilians enlisting or being drafted to fight the nation's wars. But during the Cold War, keeping the threat of a nuclear holocaust at bay required career military and intelligence professionals operating within a large, complex, and highly secretive national security establishment. The sheer size and lethality of U.S. and Soviet nuclear arsenals rendered civil defense measures largely futile. By the time the Berlin Wall came down and the Soviet Union collapsed, two generations of Americans had grown accustomed to sitting on the sidelines and the national security community had become used to operating in a world of its own. To an extraordinary extent, this same self-contained Cold War-era national security apparatus is what Washington is using today to confront the far different challenge presented by terrorism. U.S. federal law enforcement agencies, the border agencies, and the Transportation Security Administration (TSA) are subsumed in a world of security clearances and classified documents. Prohibited from sharing information on threats and vulnerabilities with the general public, these departments' officials have become increasingly isolated from the people that they serve.
Topic:
Cold War and Development
Political Geography:
United States, Washington, and Soviet Union

98. What is Totalitarian Art?

Author:
Kanan Makiya
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Igor Golomstock's encyclopedic tome on the art produced in the Soviet Union, Nazi Germany, Fascist Italy, and communist China makes a good case that totalitarian art is a distinct cultural phenomenon. But a new postscript on art under Saddam Hussein is less compelling, writes a former Iraqi dissident.
Topic:
Government
Political Geography:
China, Iraq, Soviet Union, Germany, and Italy

99. Progress and the Past

Author:
Peter Hakim
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
No abstract is available.
Political Geography:
China, America, Brazil, Latin America, Syria, Venezuela, and Bolivia

100. The Impending Squeeze

Author:
Tim W. Ferguson, Charles B. Heck, and Mitchell W. Hedstrom
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
ESSAY American Profligacy and American Power Roger C. Altman and Richard N. Haass The U.S. government is incurring debt at an unprecedented rate. If U.S. leaders do not act to curb their debt addiction, then the global capital markets will do so for them, forcing a sharp and punitive adjustment in fiscal policy. The result will be an age of American austerity. Would you like to leave a comment? 1CommentsJoin To the Editor: Roger Altman and Richard Haass ("American Profligacy and American Power," November/December 2010) persuasively argue that continued American profligacy promises to undermine American power. But the situation is even more urgent than they suggest. Although Altman and Haass expect markets to remain calm "possibly for two or three years," the rising price of gold suggests otherwise. Gold has risen from $460 per ounce to $1,400 per ounce in the last five years -- representing a 67 percent devaluation of the U.S. dollar per unit of gold. As former U.S. Federal Reserve Chair Alan Greenspan has said, gold is "the ultimate means of payment." Moreover, on top of new government debt over the next several years, maturing existing debt will need to be refinanced. At 4.6 years, the average maturity of the U.S. federal debt held by the public (debt that now totals $9.1 trillion) is tight relative to, for instance, the average maturity of 13.5 years for British government debt. According to the International Monetary Fund, the maturing debt of the U.S. government will equal 18.1 percent of U.S. GDP during 2011 alone. Altman and Haass rightly note that the U.S. government's annual interest expense will rise dramatically as its stock of debt increases and interest rates inevitably rise. Further debt increases would substantially darken the fiscal outlook for the federal government. And even a relatively small rise in interest rates would have a significant impact. TIM W. FERGUSON Editor, Forbes Asia CHARLES B. HECK Former North American Director, Trilateral Commission MITCHELL W. HEDSTROM Managing Director, TIAA-CREF
Topic:
Government
Political Geography:
United States, America, and Asia