Introduction Tensions have risen to dangerous levels between Japan and China over a small group of uninhabited islands in the East China Sea, called the Senkaku by the Japanese and the Diaoyu by t…

Overview The scale of financing needed to support the U.S. fiscal deficit—together with the Federal Reserve’s policy of keeping U.S. interest rates low to ward off deflation—has revived concerns a…

In addition to a sharp economic downturn, Venezuela faces a humanitarian crisis. The United States can do little to prevent a downward spiral, but it should take measures to mitigate the political, economic, and humanitarian consequences of a potential mass emigration.

Overview In June 2015, the author wrote an update to this memo to reflect recent developments in Libya. Read the update. Multiple threats to Libya's stability and public order could emerge if t…

Introduction Egypt is experiencing a deep economic crisis. The country's foreign currency reserves are less than half of what they were before the January 2011 uprising, threatening Egypt's abilit…