The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
IN a celebrated article in The New Europe in 1917 Masaryk called the broad belt of Europe stretching from the Baltic to the Adriatic "the zone of the small peoples." Today that zone contains no less than 14 separate nations -- Finland, Estonia, Latvia, Lithuania, Poland, Czechoslovakia, Austria, Hungary, Jugoslavia, Rumania, Bulgaria, Greece, Albania and Turkey. It is enough to recall how and where the World War began to realize what a direct bearing the situation of those peoples must always have on the question of European war or European peace. Today it holds the key also to the question: Are Britain and France to remain Great Powers?
The reason this part of Europe is so split up, so atomized, is not purely or even mainly ethnological. Here in the East the dominant empires did not fulfill the task of unification which France, England and Spain accomplished in the West. The German