Is Europe Serious About Self-Defense, or Free-Riding?
As U.S.-China tension increases, so does discussion about whether European states are pulling their weight.
List of Great Recession articles
![Dollar-fall-rise-foreign-policy-joan-wong-illustration-article]()
Dollar-fall-rise-foreign-policy-joan-wong-illustration-article
The Rise and Fall and Rise (and Fall) of the U.S. Financial Empire
The dollar is dead. Long live the dollar.
![Members of the Iraqi security forces wearing protective masks and gloves stand guard in the capital Baghdad's Tahrir square on May 5.]()
Members of the Iraqi security forces wearing protective masks and gloves stand guard in the capital Baghdad's Tahrir square on May 5.
Iraq’s Economic Collapse Could Be Biden’s First Foreign-Policy Headache
If the Iraqi government fails to pay state workers’ salaries in January, it could lead to widespread instability and violence. The United States and the international community must shore up Baghdad’s finances before it’s too late.
![Then-Chief Cabinet Secretary Yoshihide Suga (right) presents flowers to Japan's Prime Minister Shinzo Abe]()
Then-Chief Cabinet Secretary Yoshihide Suga (right) presents flowers to Japan's Prime Minister Shinzo Abe
Abenomics Can Flourish Without Abe
Japan’s new prime minister has the skills to take on the country’s bureaucrats.
![Lebanese demonstrators protest against the government's handling of a collapsing economy, with Lebanon burdened by debt of nearly $90 billion, on Feb. 11, 2020 in Beirut.]()
Lebanese demonstrators protest against the government's handling of a collapsing economy, with Lebanon burdened by debt of nearly $90 billion, on Feb. 11, 2020 in Beirut.
Start Preparing for the Coming Debt Crisis
The global financial crisis was just the prelude to what could be coming next. The next administration better be ready.
![Coal heavers wear sandwich boards to protest against low wages in 1921.]()
Coal heavers wear sandwich boards to protest against low wages in 1921.
When Everything Is a Crisis, Nothing Is
Invoking crisis is a favorite tactic of dictators—and widespread misuse of the word robs it of its power.
![Lebanese riot police guard a bank in Beirut on April 28.]()
Lebanese riot police guard a bank in Beirut on April 28.
The United States Is Pushing Lebanon Further Into Iran’s Embrace
The Lebanese economy is collapsing, and the risk of conflict is rising—but Washington has failed to grasp why Iranian influence is spreading or the measures needed to stop it.
![A man wearing a face mask walks his dog across a deserted St. Mark's Square in Venice, Italy, on May 13.]()
A man wearing a face mask walks his dog across a deserted St. Mark's Square in Venice, Italy, on May 13.
Without Tourism, Italy’s Economy Faces Disaster
Foreign visitors have helped prop up the faltering Italian economy. If they don’t come back, the country is in trouble.
![Employees disinfect the streets and shops inside Istanbul's famous Grand Bazaar to prevent the spread of the coronavirus in Istanbul on March 18.]()
Employees disinfect the streets and shops inside Istanbul's famous Grand Bazaar to prevent the spread of the coronavirus in Istanbul on March 18.
The Coronavirus Is Creating a Crisis on Europe’s Borders
European countries have suffered from the pandemic, but their southern and eastern neighbors are faring even worse—setting the stage for financial ruin, political instability, and a surge of refugees.
![Turkish President Recep Tayyip Erdogan (right) vies for the ball with Berat Albayrak—now his finance minister and son-in-law—during an exhibition match in Istanbul on July, 26, 2014.]()
Turkish President Recep Tayyip Erdogan (right) vies for the ball with Berat Albayrak—now his finance minister and son-in-law—during an exhibition match in Istanbul on July, 26, 2014.
The Coronavirus Will Destroy Turkey’s Economy
Ankara’s finances were weak before the pandemic—but the combination of external debt, a public health crisis, and a president who chooses to protect his reputation rather than his people could spell disaster.
![A mostly empty Wall Street]()
A mostly empty Wall Street
Are the Markets Underestimating the Coronavirus Depression?
As we saw during the last financial crisis, the “smart” players aren’t always so smart. One thing we know: The world economy will never be the same.
![$100 notes are printed at the U.S. Bureau of Engraving and Printing in Washington, D.C., on May 20, 2013.]()
$100 notes are printed at the U.S. Bureau of Engraving and Printing in Washington, D.C., on May 20, 2013.
The Democratic People’s Republic of U.S. Monetary Policy
Congress is outsourcing more and more policymaking to the Federal Reserve.
![Former Chairman of the Federal Reserve Paul Volcker]()
Former Chairman of the Federal Reserve Paul Volcker
What Paul Volcker Got Right About Global Finance
The late Federal Reserve chief was most renowned for fighting inflation, but he also understood—before almost anyone else did—that Wall Street was out of control.
![Traders work on the floor of the New York Stock Exchange after news that Merrill Lynch & Co. was selling itself to Bank of America Corp. and the financial firm Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15, 2008.]()
Traders work on the floor of the New York Stock Exchange after news that Merrill Lynch & Co. was selling itself to Bank of America Corp. and the financial firm Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15, 2008.
What the 2008 Financial Crisis Can Teach Us Today
With a potential recession around the corner, it is worth remembering how regulators contained the last panic.
![People protesting against a new government measure to further restrict abortions in Poland gather as part of "Black Friday" demonstrations nationwide on March 23, 2018 in Poznan, Poland. The women's rights group Dziewuchy Dziewuchom, called on women across Poland to gather for protests in cities nationwide.]()
People protesting against a new government measure to further restrict abortions in Poland gather as part of "Black Friday" demonstrations nationwide on March 23, 2018 in Poznan, Poland. The women's rights group Dziewuchy Dziewuchom, called on women across Poland to gather for protests in cities nationwide.
Politics Without Parties
From Poland to Iceland, citizens’ groups are taking matters into their own hands and bringing about genuine political change from outside the party system.
![books_July2018]()
books_July2018
Books in Brief: The Latest Reads on the Financial Crisis, the Rwandan Genocide, and What It Means to Be a Nation
Also: Works on India’s rise, the history of U.S. trade politics, and social media’s role in modern conflicts.
![Football fans from Uzbekistan celebrate near Red Square on June 15, 2018 in Moscow, Russia. (Photo by Christopher Furlong/Getty Images)]()
Football fans from Uzbekistan celebrate near Red Square on June 15, 2018 in Moscow, Russia. (Photo by Christopher Furlong/Getty Images)
Uzbekistan’s New Era Might Just Be Real
Long-needed reforms are changing what was once a grim autocracy. Washington can help.
![Iranian Foreign Minister Javad Zarif and his German counterpart, Sigmar Gabriel, speak to the media following talks in Berlin on June 27, 2017. (Sean Gallup/Getty Images)]()
Iranian Foreign Minister Javad Zarif and his German counterpart, Sigmar Gabriel, speak to the media following talks in Berlin on June 27, 2017. (Sean Gallup/Getty Images)
Europe’s Sanctions-Blocking Threats Are Empty
When it comes to Iran sanctions, the EU must satisfy Trump’s demands. Access to the U.S. financial system hangs in the balance.
![Chinese 100 yuan notes and one U.S. dollar on Jan. 6, 2017. (Fred Dufour/AFP/Getty Images)]()
Chinese 100 yuan notes and one U.S. dollar on Jan. 6, 2017. (Fred Dufour/AFP/Getty Images)
Don’t Trust China’s Opening of Its Financial Sector
Inviting foreign investors into a closed economy is a lot easier said than done.
Load 10 More Articles
The Rise and Fall and Rise (and Fall) of the U.S. Financial Empire
The dollar is dead. Long live the dollar.
Iraq’s Economic Collapse Could Be Biden’s First Foreign-Policy Headache
If the Iraqi government fails to pay state workers’ salaries in January, it could lead to widespread instability and violence. The United States and the international community must shore up Baghdad’s finances before it’s too late.
Abenomics Can Flourish Without Abe
Japan’s new prime minister has the skills to take on the country’s bureaucrats.
Start Preparing for the Coming Debt Crisis
The global financial crisis was just the prelude to what could be coming next. The next administration better be ready.
When Everything Is a Crisis, Nothing Is
Invoking crisis is a favorite tactic of dictators—and widespread misuse of the word robs it of its power.
The United States Is Pushing Lebanon Further Into Iran’s Embrace
The Lebanese economy is collapsing, and the risk of conflict is rising—but Washington has failed to grasp why Iranian influence is spreading or the measures needed to stop it.
Without Tourism, Italy’s Economy Faces Disaster
Foreign visitors have helped prop up the faltering Italian economy. If they don’t come back, the country is in trouble.
The Coronavirus Is Creating a Crisis on Europe’s Borders
European countries have suffered from the pandemic, but their southern and eastern neighbors are faring even worse—setting the stage for financial ruin, political instability, and a surge of refugees.
The Coronavirus Will Destroy Turkey’s Economy
Ankara’s finances were weak before the pandemic—but the combination of external debt, a public health crisis, and a president who chooses to protect his reputation rather than his people could spell disaster.
Are the Markets Underestimating the Coronavirus Depression?
As we saw during the last financial crisis, the “smart” players aren’t always so smart. One thing we know: The world economy will never be the same.
The Democratic People’s Republic of U.S. Monetary Policy
Congress is outsourcing more and more policymaking to the Federal Reserve.
What Paul Volcker Got Right About Global Finance
The late Federal Reserve chief was most renowned for fighting inflation, but he also understood—before almost anyone else did—that Wall Street was out of control.
What the 2008 Financial Crisis Can Teach Us Today
With a potential recession around the corner, it is worth remembering how regulators contained the last panic.
Politics Without Parties
From Poland to Iceland, citizens’ groups are taking matters into their own hands and bringing about genuine political change from outside the party system.
Books in Brief: The Latest Reads on the Financial Crisis, the Rwandan Genocide, and What It Means to Be a Nation
Also: Works on India’s rise, the history of U.S. trade politics, and social media’s role in modern conflicts.
Uzbekistan’s New Era Might Just Be Real
Long-needed reforms are changing what was once a grim autocracy. Washington can help.
Europe’s Sanctions-Blocking Threats Are Empty
When it comes to Iran sanctions, the EU must satisfy Trump’s demands. Access to the U.S. financial system hangs in the balance.
Don’t Trust China’s Opening of Its Financial Sector
Inviting foreign investors into a closed economy is a lot easier said than done.
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