The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
After Libyans, and much of the civilized world, rejoice in the seemingly inevitable fall of Muammar al-Qaddafi, the country will face the difficult task of repairing a society long traumatized by the Middle East's most Orwellian regime. Libya lacks both legitimate formal institutions and a functioning civil society. The new, post-Qaddafi era, therefore, is likely to be marked by the emergence of long-suppressed domestic groups jostling for supremacy in what is sure to be a chaotic political scene.
For four decades, Libya has been largely terra incognita, a place where the outsized personality of its quixotic leader and a byzantine bureaucracy obscured an informal network of constantly shifting power brokers. Even before the current unrest, working with these figures was uncertain at best -- "like throwing darts at balloons in a dark room," as one senior Western diplomat put it to me in 2009.
In the near future, even with Qaddafi