The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
U.S. President Donald Trump’s distaste for international cooperation is well known. For decades, he has denounced U.S. allies for “taking advantage” of the United States. According to a recent article in The New York Times, he has repeatedly expressed a desire to withdraw the United States from NATO. But international cooperation covers a lot more than treaty alliances and multilateral organizations. Every year, countries sign dozens of security agreements covering everything from biological weapons to defense research. The United States used to be a leading player. No longer. Under Trump, the flood of new security partnerships has slowed to a trickle. That is bad news for U.S. security.
Military alliances, such as NATO, are the best-known instrument of security cooperation, but they cannot address every concern. Governments also sign specific agreements on a wide range of issues, military exercises and training, peacekeeping, counterterrorism, personnel exchanges, defense