Word: nationalizes
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Before the financial panic of last fall, many business and government leaders in the BRIC countries spoke confidently of "decoupling" from their economic reliance on the U.S. Such talk faded as a subsequent collapse in global trade left no nation untouched. Yet with their big populations and growing middle classes, the BICs now seem to have suffered only a glancing blow. The word redecoupling is beginning to appear in the media. Nandan Nilekani, who is about to leave the chairmanship of Indian tech company Infosys for a government post, speaks of "tactical coupling" and "strategic decoupling." That is, nobody could...
...while U.S. economic dominance appears to be giving way to something more muddled, this doesn't imply absolute decline. The U.S. retains a lot of strong points - great universities, millions of ambitious immigrants, a culture that celebrates risk-taking - that are hard for any other nation to match. Just because the U.S. is no longer all-important doesn't mean it will no longer be competitive. (See pictures of the global financial crisis...
...results in international affairs - to say conclusively, for instance, that Russia's cooperation on nuclear-weapon reductions could not have happened under the Administration of President John McCain or that the willingness of China to increase pressure on North Korea is anything more than a response to the rogue nation's increasing belligerence. (See pictures of Obama's meeting with the Pope...
...change geopolitical dynamics. Since his election, he has been working hard to make good on that promise, aggressively marketing his background. In Africa, he spoke about the colonialist mistreatment his Kenyan grandfather faced, and in Cairo he talked about his childhood in Indonesia, the world's most populous Muslim nation. He presents himself internationally as he does domestically, as an embodiment of meritocratic achievement that can happen in free and open societies. "I have the blood of Africa within me," he said in Ghana. "And my family's own story encompasses both the tragedies and triumphs of the larger African...
...Pragmatism Should Often Trump Idealism Compared with the relatively Panglossian vision of George W. Bush, who sought to remake whole parts of the world under the banner of American moral authority, Obama brings a more conservative, cynical view to the question of when nations should act on idealistic impulses. At a press conference on Friday, the President was asked how he resolves the theoretical conflict between respecting state sovereignty and intervening in defense of the universal rights of oppressed people. "The threshold at which international intervention is appropriate I think has to be very high," Obama said. "There...