Tag: United States of America

When Inflation Doves Cry

Money
Dollar bills. Photo: 401(K) 2012/flickr.

PITTSBURGH – The Wall Street Journal recently ran a front-page article reporting that the monetary-policy “doves,” who had forecast low inflation in the United States, have gotten the better of the “hawks,” who argued that the Fed’s monthly purchases of long-term securities, or so-called quantitative easing (QE), would unleash faster price growth. The report was correct but misleading, for it failed to mention why there is so little inflation in the US today. Were the doves right, or just lucky?

The US Federal Reserve Board has pumped out trillions of dollars of reserves, but never have so many reserves produced so little monetary growth. Neither the hawks nor the doves (nor anyone else) expected that.

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Surveillance and American Liberty

Statue of Liberty
Statue of Liberty at dusk. Photo: gimmeahug/flickr.

CAMBRIDGE – Ever since Edward J. Snowden disclosed the National Security Agency’s ongoing collection of massive amounts of electronic-communications data generated by United States citizens and non-citizens alike, attention has been lavished on his personal status. But the more important issue, even before Russia granted him temporary asylum, is the status of American civil liberties. Is the US guilty of hypocrisy, as Russia, China, and others have charged?

To answer that question, it is important to distinguish between two issues that have become conflated in public debate: electronic espionage against foreign entities and domestic surveillance of a government’s own citizens.

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Obama’s Russian Roadblock

Obama and Putin
Obama and Putin at the G20 summit in Los Cabos, Mexico, in June 2012. Photo: US Government/The White House.

MOSCOW – In a recent speech in Berlin, US President Barack Obama reaffirmed his commitment to nuclear disarmament and proposed steps toward achieving that goal. But Russia has made clear that it does not plan to pursue further reductions to its nuclear arsenal any time soon.

In the speech – delivered nearly 50 years after President John F. Kennedy addressed the then-divided city, highlighting the value of arms control between adversaries – Obama announced that the United States is prepared to cut its nuclear arsenal by up to one-third. He also proposed major reductions in the number of tactical nuclear weapons (TNWs) deployed in Europe. Moreover, he called upon the international community to renew its efforts to prevent Iran and North Korea from developing nuclear weapons; to bring theComprehensive Nuclear-Test-Ban Treaty and the proposed Fissile Material Cut-Off Treaty into force; and to make nuclear energy safer.

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Obama (Finally) Comes to Africa

U.S. President Barack Obama
U.S. President Barack Obama. Photo: The White House/flickr.

‘China 1, US 0.’ This is how the United States (US) news website Globalpost titled its comment on US President Barack Obama’s long-awaited trip to Africa. The visit, which also took him to Senegal and South Africa, ended in Tanzania on 2 July. Clearly, a trip that cost US taxpayers $100m was a way for the US to counter the huge amount of trade China has been conducting with Africa over the last few years.

Chinese trade with the continent reached close to $200 billion in 2012, while US trade was less than half that, at $95 billion, according to the US trade office.

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Democracy Promotion’s Mixed Track Record

A man in Jakarta shows his inked finger at a polling station to proof he voted in the 2009 presidential election, the second since the fall of the Suharto regime. Photo: Isabel Esterman.

Once widely considered a desirable endpoint for all nations, democracy’s seeming benefits are now openly questioned by many. The poor results of democratization in Afghanistan and Iraq, along with the rise of economically successful non-democracies such as China, have caused democracy promotion to lose some of its luster. So, given these recent trends, what are democracy’s prospects for the future?

This question was the primary focus of a recent panel discussion hosted by the Forum Aussenpolitik (foraus) and NCCR Democracy at the University of Zurich. Entitled “Democracy Promotion: Lessons from Different Regions of the World,” the discussion featured three experts who analyzed the ways and means of democracy promotion; its feasibility; how and whether it should be encouraged, and its successes and failures.

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