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Sebastian Mallaby explains how post-election gridlock could either send the U.S. economy over the edge of a "fiscal cliff" into recession or...
Transition 2012
Speaker: Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics, Council on Foreign Relations
December 15, 2011
The next U.S. president will have to navigate between grand ambition and the realities of the world economy, says CFR international economics expert Sebastian Mallaby. "American share of output is shrinking and America's power is shrinking," Mallaby notes, "and looking into the future for the next presidency, it's likely to fall even more." As a result, he says, "the name of the game is going to be to form alliances, to work with multilateral institutions, and to walk more softly." This video is part of a special Council on Foreign Relations series that explores the top foreign policy issues debated in the run-up to the 2012 elections.
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