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Rebalancing China's growth from investment to consumption is necessary if China is to sustain long-term economic growth. Recent attempts to move in this direction have been insufficient; true rebalancing will require a more fundamental revision of the growth model.
One of the most striking aspects of the global financial crisis has been how often the facts have contradicted what, according to conventional wisdom, was expected to happen.
The unrest that has swept through Tunisia, Egypt, and Libya resulted in large part from the inability or unwillingness of the ruling regimes to make significant improvements in the lives of the general public. The departure of the heads of these regimes, however, does not necessarily signal an end to the revolutionary process.
Putin’s Russia—which raised living standards, increased political apathy, and led to sovereign democracy—is over. As parliamentary and presidential elections approach, long-simmering social, economic, and political disputes are spilling into the open, and public politics are returning to the fore.
After stagnating for decades, economic growth in Africa has accelerated, but maintaining this rapid growth is far from guaranteed. Policy makers must build on past successes and tackle tough reforms before the world’s poorest continent can make sustained economic progress.
While the obsession with global rebalancing stokes currency and protectionist tensions, it diverts attention from what is really needed—reforms at home.
The uprising that started in Tunisia in late 2010 was not a completely new development, but rather a more dramatic example of the unrest common across the region, particularly in Egypt, Morocco, Algeria, and Jordan.
Arab moderates must realize that they cannot limit their moderation to the Arab-Israeli peace process if they hope to remain credible in the eyes of a public demanding serious domestic reforms.
Turkey and the EU both face urgent foreign and security issues that cannot wait. As a result, they need a new, more effective channel for strategic dialogue to complement the accession process.
While the Iranian government—an increasingly militarized theocracy—is unique, George Kennan’s 1947 essay, “The Sources of Soviet Conduct,” reveals instructive behavioral parallels between the Iranian and Soviet regimes.