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November 19, 2019

Election 2020
The President’s Inbox: Should the United States Rethink Its Russia Policy?

Each week between now and the Iowa caucuses, I’m talking with two experts with differing views on how the United States should handle a foreign policy challenge it faces. These special episodes are p…

Russian President Vladimir Putin delivers a speech at the Kremlin in Moscow on November 4.

November 11, 2019

United States
Thanking America's Veterans

Today is Veterans Day. Americans first celebrated it on November 11, 1919, one year to the day after the end of the conflict they knew as the Great War and we (regrettably) know today as World War I…

Veterans Day

November 1, 2019

Election 2020
Foreign Policy Roundup: Abu Bakr Al-Baghdadi, Israel, and Campaign Advisors

Each Friday, I look at what the presidential challengers are saying about foreign policy on the campaign trail.

Bernie Sanders speaks at the J Street National Conference in Washington, DC, on October 28.

October 17, 2019

Defense and Security
Funding the Nuclear Triad to Deter Great Power Adversaries

Captain Brian L. Sittlow is a naval officer, specializing in submarines, and a military fellow at the Council on Foreign Relations (CFR). The opinions expressed in this article are solely those of th…

Following a strategic deterrence patrol, the Ohio-class ballistic-missile submarine USS Alaska returns to its homeport at Naval Submarine Base Kings Bay, Georgia, U.S. in this April 2, 2019 handout photo.

October 9, 2019

Taiwan
$130+ Billion in Undisclosed Foreign Exchange Intervention by Taiwan's Central Bank

Based on the profits and losses disclosed by Taiwan’s central bank, it appears that its true FX exposures exceed its disclosed foreign exchange reserves by USD 130bn, and perhaps by as much as USD 20…

fig 19

October 24, 2019

Japan
A Puzzle in Japan’s Balance of Payments: What Explains Strong Foreign Demand for JGBs?

Japanese investors have an obvious incentive to search for yield abroad. But why has foreign demand for Japanese bonds almost matched Japanese demand for foreign bonds?

A Puzzle in Japan’s Balance of Payments: What Explains Strong Foreign Demand for JGBs?

September 16, 2019

Election 2020
Elizabeth Warren Answers Twelve Foreign Policy Questions

Last week’s third round of Democratic presidential debates gave foreign policy some attention. The candidates spent a shade under forty minutes discussing events beyond America’s borders. That is mor…

Elizabeth Warren speaks to the media in Peterborough, New Hampshire.

September 11, 2019

International Economic Policy
Are Asian Insurers the New European Banks?

It is hard to understand the global flow of funds without understanding the risks now being taken by Japanese, Taiwanese, and Korean life insurers.

Are Asian Insurers the New European Banks?

January 8, 2018

World Order
Trump and Wilson's Ghost: The Fourteen Points Turn 100 year

In an op-ed recently published in the Hill, I contrast President Donald J. Trump’s transactional and cynical diplomacy with President Woodrow Wilson's Fourteen Points, which turn one hundred today. …

Woodrow Wilson

April 24, 2019

Venezuela
Trump’s Misguided Policies Are a Gift to Venezuela’s Maduro

Punishing allies won’t help to rally international support for the restoration of democracy.

U.S. President Donald Trump speaks about the crisis in Venezuela during a visit to Florida International University in Miami, Florida, U.S., February 18, 2019.