Benn Steil's Wall Street Journal Europe op-ed, co-authored with Dinah Walker, argues that the Bank of England is getting "Libored"—that is, misled and manipulated—by the banks benefiting from its Funding for Lending Scheme. The Fed, which has shown interest in the scheme, should beware.
Because a financial crisis can inflict lasting damage to productivity growth, Peter Orszag argues that the failure of U.S. policymakers to enact a "barbell" fiscal policy now could yield more economic troubles down the road.
In the nuclear dispute between Iran and the United States, a grand bargain is unlikely given the level of mistrust between the two parties. What's more realistic is a modest compromise that breaches the wall of mistrust and potentially sets the stage for further-reaching arms control measures, says Ray Takeyh.
"What is clear is that there is no shortage of challenges or opportunities beyond America's borders. What may matter most when it comes to this country's national security, though, is whether it can put its own economic and political house in order," says Richard N. Haass.
Jerome A. Cohen argues that whatever form the proposed end of re-education through labour takes, even if it fails to fully comply with China's constitution or its laws, the present situation is likely to be improved.
Gayle Tzemach Lemmon says that the war in Afghanistan, which has spanned a decade and cost more than 2,000 American lives, has now faded to one key, albeit short-sighted, question: How many U.S. troops will remain after 2014?
Julia E. Sweig says the recent "fiscal cliff" deal marks the end of the grand bargain, and "the new normal in Washington is one of hyper partisanship, in which the Republicans have learned that if they wait long enough the Democrats will soften at the end of negotiations."
Women have made strides in Afghanistan since 2001, but huge issues still remain. While the United States focuses on withdrawal, Afghan women are still in the fight and will be long after 2014, says Gayle Tzemach Lemmon.
A precipitous drawdown to 6,000 troops in Afghanistan after 2014 would cripple the U.S. counterterrorism mission and Afghan security forces, vastly increasing the risk of a Taliban takeover, says Max Boot.
Michael A. Levi says, "The benefits of the oil and gas boom—jobs, wealth and, in the case of natural gas, reductions in greenhouse gas emissions—offer plenty of reasons to continue to develop these resources judiciously. But we should beware of turning this potential blessing into an unintended curse."