by David Steven | Apr 11, 2010 | Conflict and security, North America
It seems that the START treaty is going to struggle to make it through the Senate, despite President Obama’s confidence that a swift passage is possible.
Today, Joe Lieberman (an independent these days, who caucuses with the Democrats) took to Fox News to claim that ratification would be impossible unless the administration extracted concessions from Russia on missile defence and began to build a new generation of nuclear weapons:
We have to make darned sure our nuclear warheads are capable, are modern as world leaders arrived in Washington for the start of a major nuclear summit. I’m going to be real hesitant to vote for this treaty unless we have a commitment from the administration that they’re prepared to modernize our nuclear stockpile.
For the Republicans, Lamar Alexander said there was ‘not a chance’ of ratification in 2010 – and that consideration of the treaty should wait until 2011.
What credibility does Obama’s nuclear strategy have if it lacks backing at home? Not much, I fear.
by David Steven | Apr 9, 2010 | Conflict and security, North America
I’ve been wondering whether the new US-Russia nuclear pact is a cert for ratification (it needs 67 votes to get through the Senate). If this treaty (uncontroversial as it is) was rejected by Republicans, it would raise serious questions about whether the US can any longer be regarded as a coherent foreign policy actor.
Asked about this, President Obama sounds reasonably confident that all will run smoothly. He also has harsh words for Sarah Palin too, who has suggested that American citizens would ‘rise up’ against his ‘unbelievable’ and ‘unacceptable’ nuclear posture (great cartoon version of her oratory, here).
STEPHANOPOULOS: So, you have no doubt you’re going to get the eight Republicans you need to ratify this treaty?
OBAMA: Well, you know, the — listen, I’ve now been in Washington for long enough that, for me to say I have no doubt (LAUGHS) about how the Senate operates would be foolish. I feel confident that leaders like Dick Lugar — who actually was somebody I worked very closely with when I was in the Senate on issues of bomb control — when they have had the opportunity to fully evaluate this treaty, [they] will come to the conclusion that this is in the best interest of the United States. But I will also say to those in the Senate who have questions, is that this is absolutely vital for us to deal with the broader issues of nuclear proliferation, that are probably the number one threat that we face in the future.
STEPHANOPOULOS: I want to get to some of those broader issues. Because you’re also facing criticism on that. Sarah Palin, taking aim at your decision to restrict the use of nuclear weapons. Your pledge not to strike nations, non-nuclear nations, who abide by the nonproliferation treaty. Here’s what she said. She said, “It’s unbelievable, no other administration would do it.” And then she likened it to kids on the playground. She said you’re like a kid who says, “Punch me in the face, and I’m not going to retaliate.” Your response?
OBAMA: I really have no response. Because last I checked, Sarah Palin’s not much of an expert on nuclear issues.
STEPHANOPOULOS: But the string of criticism has been out there among other Republicans as well. They think you’re restricting use of nuclear weapons too much.
OBAMA: And what I would say to them is that if the secretary of defense and the chairman of the Joints Chiefs of Staff are comfortable with it, I’m probably going to take my advice from them and not from Sarah Palin.
STEPHANOPOULOS: But not concerned about her criticisms?
OBAMA: No.
by David Steven | Mar 31, 2010 | Economics and development, Global Dashboard, Global system
[youtube]http://www.youtube.com/watch?v=AA0mFjJbNH8[/youtube]
It’s commonplace to describe the financial crisis as a once-in-a-century event, but I question whether that is the case. Perhaps we’re not in the midst of a short-lived financial shock, but a long crisis that stretches back into the 1990s.
Here’s Paul Blustein on Alan Greenspan:
The Fed chief told the G-7 that in almost fifty years of watching the U.S. economy, he had never witnessed anything like the drying up of markets in the previous days and weeks.
Greenspan wasn’t speaking in Autumn 2008 when Lehman’s collapsed, however, but ten years’ earlier in the wake of the spectacular blow-up of Long-Term Capital Management, which lost $4.5 billion almost overnight in what the fund’s principals post-rationalised as a 100-year flood.
Long-Term (with its superbly hubristic name) was brought low by derivatives, just as Lehman’s would be a decade later.
(Robert Rubin, Clinton’s Treasury Secretary, was one of those left picking up the pieces – part of ‘the committee to save the world’, with Greenspan and Larry Summers. Rubin went on to preside over Citigroup as it needed a succession of massively expensive bailouts, when its derivatives tanked in the subprime crisis.)
The proximate cause of Long-Term’s failure was Russia’s Rouble crisis, when the country defaulted on its debt after the IMF refused to mount a second bailout.
The Russian crisis itself came in the midst of a long series of dramatic economic failures that hits the world between 1997 and 1999, mostly in East Asia (Thailand, South Korea, Indonesia etc), but which also battered Brazil and would devastate Argentina in 2002. Blustein again:
Time and again, panics in financial markets proved impervious to the ministrations of the people responsible for global economic policymaking.
IMF bailouts fell flat in one crisis-stricken country after another, with the announcements of enormous international loan packages followed by crashes in currencies and sever economic setbacks that the rescues were supposed to avert.
(more…)
by Michael Harvey | Mar 26, 2010 | Conflict and security, Cooperation and coherence, Economics and development, Europe and Central Asia, Influence and networks, North America, UK
– With the US and Russia finally concluding negotiations on a new nuclear arms reduction treaty, Julian Borger assesses the deal’s significance. Josh Rogin, meanwhile, wonders whether Obama will be able to get the treaty past Republicans in the Senate.
– Kenneth Weisbrode explores the “reinventing diplomacy” debate, suggesting that “while America thinks in terms of networks, the rest of the world is busy connecting circuits.” Writing in The World Today, Christopher Hill assesses the current challenges facing UK foreign policy, the difficult decisions that lie ahead, and where future priorities may lie. “If it is to serve us well over the longer term”, he argues, UK foreign and security policy “needs a radical overhaul of its underlying outlook”.
– Elsewhere, The Atlantic Monthly‘s Joshua Green offers a wide-ranging profile of US Treasury Secretary, Timothy Geithner – “a superstar of the bureaucracy” – assessing his influence on President Obama and his central role in shaping the US response to the global financial crisis.
– Finally, discussing European immigration Brigid Grauman highlights the example of Switzerland, suggesting that the rest of Europe would do well to learn the lessons of participatory democracy in promoting integration and fostering multiculturalism. Over at Foreign Policy, meanwhile, Steve Kettmann assesses the recent buffeting taken by the country’s international image, asking if the Swiss stance on neutrality is still feasible in an age of interconnectedness.
by Michael Harvey | Nov 12, 2009 | Conflict and security, Cooperation and coherence, Economics and development, Europe and Central Asia, North America, South Asia
– With President Obama embarking on his visit to Asia, John Plender examines the nature of China’s challenge to US dominance. Cheng Li and Jordan Lee suggest what the President has to do in striking the right tone for US-China relations going forward. Kishore Mahubani, meanwhile, views Asia’s rise through the prism of Francis Fukuyama’s End of History twenty years on.
– In a wide-ranging interview with Der Spiegel, Russian President, Dmitry Medvedev talks about Stalin, democracy and the rule of law, his relationship with Vladimir Putin, and ongoing Western entanglement in Afghanistan.
– Elsewhere, Stefan Theil argues that, aided by the financial crisis, the EU’s global standing is on the rise:
“The EU’s modus operandi — sharing power, hammering out agreements, resolving conflict by endless committee — can be boring and even frustrating to watch”, he argues, “[b]ut in an increasingly networked and interdependent world, it has become the global standard.”
Julian Priestley, meanwhile, suggests four conditions if the EU is to get the most from its “institutional architecture”.
– Finally, writing in the New Yorker, Seymour Hersh explores US concerns about the safety of Pakistan’s nuclear arsenal amid growing instability.
