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Globalization is doomed to controversy thanks to a trio of misapprehensions. But the opposition stems more from nostalgia and sterile theory than from economic reality.
By declaring "war" on terrorism, the United States has committed itself to decisive victory against an intractable enemy and to a long march through "rogue" states.
Europe's move to block the GE-Honeywell merger should not have come as a surprise. Brussels' antitrust philosophy is profoundly at odds with the U.S. approach.
Osama bin Laden's attacks on the United States were aimed at another audience: the entire Muslim world. Hoping that U.S. retaliation would unite the faithful against the West, bin Laden sought to spark revolutions in Arab nations and elsewhere. War with America was never his end; it was just a means to promote radical Islam. The sooner Washington understands this, the better its chances of winning the wider struggle.
Soon after September 11, pundits began calling for an overhaul of the U.S. intelligence system. But although some minor reforms might help, U.S. intelligence has been performing well. The grim fact is that even the best system sometimes lets a few mistakes slip through, and many proposed reforms would only make things worse.
September 11 revealed the soft underbelly of globalization: trade and travel lanes so open that they allow terrorists to do their worst. The need for greater oversight of the goods and people that flow into the United States is obvious. But draconian border-control measures would cripple the U.S. economy. Washington must work with other governments to make international trade safe -- or else close the book on globalization.
The United States has an opportunity to set new terms for its alliances in the Middle East. The bargain struck with Egypt and Saudi Arabia after the Gulf War seemed successful for a decade, but now the United States is facing the consequences: Washington backed Cairo's and Riyadh's authoritarian regimes, and they begat al Qaeda. The Bush administration should heed the lesson.
Yasir Arafat has been neither an orchestrator nor a spectator of the second intifada; he has been its target. A young guard of Palestinian nationalists, angry at both Israel and the corrupt Palestinian Authority, lies behind the violence. Arafat must reform his government and secure a credible peace process -- before it's too late.
Pakistani President Pervez Musharraf has supported Washington's war on terror so far. But he rules an impoverished and increasingly radical population and faces a powerful enemy next door. If the economic crisis continues, his government could fall, bringing Islamists to power and giving them control over nuclear weapons.
Antiglobalization activists are convinced that economic integration has been widening the gap between rich and poor. The best evidence, however, proves them wrong. Thanks to higher growth driven by greater openness to trade and investment, global inequality has narrowed and global poverty has been reduced.
Japan's unique economic system -- first created to help it through World War II -- served the country well for years, allowing for one of history's greatest booms. But now that same system has led Japan to the edge of economic collapse. Deep reforms are now critical. Making them will not be easy, but Japan no longer has a choice.
For the first time, Latin America's two giants, Brazil and Mexico, are both looking for significant international roles -- but they are doing so in very different ways. Mexico has tied its future to economic integration with the United States, whereas Brazil seeks to be a leader in South America.
Conventional wisdom has long been dismissive of and uninterested in the American foreign policy tradition. This neglect is a mistake. Not only has the United States been extraordinarily successful in its international relations, but its past foreign policy debates are very much alive today.
In 1990, East Germany's ex-communists appeared to be in the political dustbin. Today, they are serious rivals of Germany's mainstream parties in the country's eastern states. The surprising rise of the Party of Democratic Socialism is a story of how a controversial political force took its own path toward normalization.
Paul Blustein offers an inside look at how the International Monetary Fund and world economic authorities navigated the chaos and confusion of the last global financial crisis -- in the hope that we might respond better to the next one.
Was John Maynard Keynes a Keynesian? The third volume of Robert Skidelsky's magisterial biography answers this question by arguing that the economist's legacy is the promotion of, not opposition to, classical British liberalism.