The mood of much of the world is grim these days. Turmoil in the Middle East, causing hundreds of thousands of deaths and millions of refugees; random terrorist attacks across the globe; geopolitical tensions in eastern Europe and Asia; the end of the commodity supercycle; slowing growth in China; and economic stagnation in many countries—all have combined to feed a deep pessimism about the present and, worse, the future.
Lawrence Summers, the head of President Obama's White House National Economic Council, writes that any economic stimulus measure must both create jobs and undertake long-term investments in infrastructure, health care, energy, and education.
In the year that has passed since the war in Iraq, the United States and its European allies have done much to repair their relations. Nonetheless, the end of the Cold War, Europe's continuing integration, and the new array of threats confronting the West continue to test the strength of the Atlantic partnership. To revitalize the Atlantic alliance, Europe and America must forge new "rules of the road" governing the use of force, adapt the North Atlantic Treaty Organization (NATO) to meet today's threats coming from outside Europe, and launch a major initiative to bring about political and economic reform in the greater Middle East. These are the conclusions of an independent Task Force chaired by former Secretary of State Henry A. Kissinger and former Secretary of the Treasury Lawrence H. Summers.
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