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Europe is right to think big - both for its own sake and for that of others. Many in the rest of the world would welcome a stronger European voice. Capitals from Pretoria to Washington are constantly urging more from their European allies. As U.S. Assistant Secretary of State for European and Eurasian Affairs Philip H. Gordon said to the House Foreign Affairs Committee after the ratification of the Lisbon Treaty last year: "We hope E.U. member states will invest the post-Lisbon institutions with the authority and capacity to make concrete contributions to the pressing global challenges we face together...

Author: /time Magazine | Title: The Incredible Shrinking Europe | 3/8/2010 | See Source »

...political leadership, which in much of Europe is lacking. Yes, Britain still sees itself as having a global role; so does France, whose President, Nicolas Sarkozy, has been active on issues from the Georgia war of 2008 to the consequences of a nuclear Iran. But the E.U.'s largest state is absent from most such debates. For the last half of the 20th century, Germany was at the heart of the European experiment. But since the end of the Cold War, it has stepped back from the E.U., regularly taking a different path when Europe attempted a unified policy (notably...

Author: /time Magazine | Title: The Incredible Shrinking Europe | 3/8/2010 | See Source »

...original version of this article misidentified Defense Secretary Robert Gates as Secretary of State...

Author: /time Magazine | Title: The Incredible Shrinking Europe | 3/8/2010 | See Source »

Call it the Ka-Ching dynasty. After decades of relying on exports and investment, China's leadership is targeting domestic consumption as the most enduring driver of economic growth. Not only are there more Chinese with money to spend, the still fragile state of the global economy makes self-reliance an imperative. "As we stand at a new historical juncture, we must change the old way of inefficient growth and transform the current development model," Vice Premier Li Keqiang, the likely successor to Premier Wen Jiabao, declared at Davos in January...

Author: /time Magazine | Title: Follow the Leaders | 3/8/2010 | See Source »

...prefers China to be like Japan: economically powerful and politically cooperative but strategically dormant and militarily inhibited. Knowing that this was never realistic, the second best outcome for Washington - captured succinctly in a 2005 speech by the then U.S. Deputy Secretary of State and current World Bank president Robert Zoellick - would be for China to demonstrate it is a "responsible stakeholder." America would ensure that China benefits from the global system of international rules and laws developed since World War II and institutions like the World Trade Organization. In return, having acquired a stake in this system, China would realize...

Author: /time Magazine | Title: Perception Gap | 3/8/2010 | See Source »

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