In The News

The Long Road to Reunification

Yoav Cerralbo November 17, 2010
A goal for many Koreans since World War II has been reunification of North and South, and hopes are high with dictator Kim Jong Il designating a young successor. One-time bitter foes can unite into one nation, as demonstrated by Germany, though the possibility of Korean reunification depends on neighboring China, which supplies and controls the North, explains Hans-Gert Poettering, chairman of...

Endgame for Afghanistan

Sreeram Chaulia November 17, 2010
The US and Iran have been at odds since militants overthrew the government and stormed the US embassy more than 30 years ago and, more recently, over Iran’s nuclear program and resistance to UN inspections. But the two nations still share common interests – animosity for the Taliban, Al Qaeda and Sunni extremism – particularly since the US invaded Afghanistan in 2001, points out author Sreeram...

Clinton Urges Cambodia to Strike a Balance With China

John Pomfret November 16, 2010
Recent multi-stop visits to Asia by US President Barack Obama and Secretary of State Hillary Clinton demonstrate newfound US respect for the entire continent. The previous administration’s secretary of state last scheduled meetings in Asia in 2003, reports John Pomfret for the Washington Post. Clinton’s visit was her sixth. Her goal was “to reinforce a central plank of foreign policy in the Obama...

If You Thought the Bank Bailout Was Bad, Wait Until the Mortgage Defaults Hit Home

Morgan Kelly November 16, 2010
Ireland’s decision in September to borrow from the European Central Bank to repay €55 billion in bonds of bankrupt Irish banks calmed markets for the time being. The outcome satisfied large European banks that held the bonds, but left the Irish government with an open-ended commitment to cover losses amounting to more than 20 percent of GDP. Writing for the Irish Times, economist Morgan Kelly...

The G20: Captive in the Prison of Mercantilism

Ernesto Zedillo November 13, 2010
The G20 meeting of the world’s major economies concluded in Seoul without a serious plan for coordinating macroeconomic policies. Since the first G20 meeting in November 2008, global leaders have recognized that inconsistent, poorly coordinated policies spurred the global economic crisis along. But behaving like the mercantilists of old rather than world powers in the 21st century – delivering a...

US in Asia: Seeking Partners at a Troubled Time – Part II

Bruce Stokes November 12, 2010
Asia is seen as a pivotal region for US foreign policy, as demonstrated by US President Barack Obama's travels to India, Indonesia, Japan and South Korea. Despite setbacks for Obama's party in mid-term elections, he continues to win high public-approval ratings in many Asian nations, notes Bruce Stokes, contributing editor for the National Journal. With US voters expressing anger over...

G-20 to Push Current Balance Guidelines

Kim Yon-se November 12, 2010
The G-20 meeting in South Korea closed with assurances that leaders of the world's largest economies would set up a warning system on excessive current-account imbalances. The leaders rejected US proposals that would have placed specific caps on surpluses or deficits. The G-20 also agreed to refrain from currency manipulations and to allow the markets to direct currency values; pursue stable...