Reuters blog archive
from Thinking Global:
President Barack Obama devoted just one sentence in last week’s State of the Union address to call for a new transatlantic trade and investment deal. However, if negotiated with sufficient ambition and presidential engagement, it is Obama’s best chance yet at leaving a positive foreign policy legacy.
The other global issues Obama catalogued in his speech were largely about avoiding the worst: North Korea, cyber threats, Iran, Syria and other Middle Eastern upheavals. Achieving what Obama called “a Transatlantic Trade and Investment Partnership,” however, has all the makings of grand strategy.
It is about nothing less than combining the world’s two largest economies and communities of common interest in a manner that could reshape all global trade and investment standards. It would also reinvigorate the Cold War’s victors, known then as “the Free World,” at a new inflection point of history. Only through common cause can the United States and Europe ensure they continue to write global governance rules even as they lose relative power and influence to countries that are less committed to democratic rights and free markets.
The magnitude of U.S.-EU economic relations still has no rival. Despite the euro zone crisis and slow U.S. growth, the United States and the European Union still account for roughly 50 percent of the world’s gross domestic product and enjoy more than $3 trillion in cross-foreign direct investment. U.S.-EU trade in goods and services accounts for 40 percent of the world total, or $636 billion in 2011. The U.S. Chamber of Commerce reckons that figure could increase by $120 billion in the next five years -- if the two sides can eliminate tariffs.
from The Great Debate:
A year ago the federal government and 49 states completed a $25 billion agreement with the nation’s largest mortgage servicers to settle claims of “robo-signing” and unlawful foreclosure practices. President Barack Obama announced the creation of the federal-state mortgage securities working group in his 2012 State of the Union address. The nation seemed on the verge of transforming the way banks treat struggling homeowners ‑ particularly those with “underwater” mortgages, in which a homeowner owes more than the house is worth.
These promises, however, have yet to be fulfilled. The latest interim report on the national mortgage settlement is due out this week, and banks will likely again declare that it offers proof that they are fulfilling their obligations. But the communities hit hardest by the foreclosure crisis have yet to see any meaningful relief.
from The Great Debate:
More than 25 years ago, Representative Jack Kemp told me, “In the past, the left had a thesis: spending, redistribution of wealth and deficits. Republicans were the antithesis: spending is bad.”
He went on to explain, “Ronald Reagan represented a breakthrough for our party. We could talk about lower taxes and more growth. We didn't have to spend all our time preaching austerity and spending cuts. The question now is: Do we take our thesis and move it further, or do we revert to an anti-spending party?”
from The Great Debate:
In his State of the Union address Tuesday, President Barack Obama talked about the importance of upgrading America’s aging infrastructure. He told the story of how our company, Siemens, recently created hundreds of manufacturing jobs in North Carolina. He quoted our U.S. CEO as saying that if America upgrades its infrastructure, we’ll bring even more jobs.
But there’s another important reason we chose North Carolina, along with more than 100 other manufacturing sites in this country. By manufacturing in the U.S., we get proximity to our largest market; highly skilled workers and crucial software engineers in the Research Triangle, educated at some of the world’s best universities; ready access to ports for export, and cutting-edge innovation that we can link directly to our manufacturing sites. All in a business-friendly atmosphere.
from The Edgy Optimist:
President Barack Obama made the middle class the focus of his State of the Union address on Tuesday. He was lauded by some as fighting for jobs and opportunity, and even for launching a “war on inequality” equivalent to President Lyndon B. Johnson’s 1960s War on Poverty. He was assailed by others for showing his true colors as a man of big government and wealth redistribution.
Yet the initiatives Obama proposed are striking not for their sweep but for their limited scope. That reflects both pragmatism and realism: Not only is the age of big government really over, so is the age of government as the transformative force in American society. And that is all for the best.
from David Rohde:
He quoted Jack Kennedy but sounded more like Lyndon Johnson.
In an audacious State of the Union address Tuesday, President Barack Obama made sweeping proposals to reduce poverty, revive the middle class and increase taxes on the “well off.” While careful to not declare it outright, an emboldened second-term president laid out an agenda that could be called a “war on inequality.”
“There are communities in this country where no matter how hard you work, it is virtually impossible to get ahead,” Obama declared in a blunt attack one a core conservative credo. “And that’s why we need to build new ladders of opportunity into the middle class for all who are willing to climb them.”
from Mark Leonard:
Children grow up learning that politics is the “art of persuasion.” Ideas, arguments and facts can clash through debate and lead to policy choices. Although Barack Obama’s prodigious oratorical skills recall politicians of centuries past, the purpose of his rhetoric is different. His goal is not to change minds but to identify all the people who already agree with him and painstakingly craft a governing majority out of their atomized preferences.
With his State of the Union address, President Obama combined the two most powerful tactics of modern politics – big speeches and big data – to spur political action.
from John Lloyd:
After Asher Susser, an Israeli scholar and one of his country’s foremost experts on Middle Eastern affairs, gave a talk in Oslo a few years ago, an audience member asked him a question: How soon, once a Palestinian state is created, will Israel and Palestine unite to form one country? “Twenty-four hours!” Susser said he replied. “Twenty-four hours after Norway and Sweden unite into one Scandinavian state!”
Susser, with whom I spoke recently in London, told the story to illustrate the fact that, as he said, “people value their ethnic and national identities much more than many wish to believe. Norway and Sweden are similar and friendly societies, but a merger would be unthinkable. Why assume it would be different with us?” (Norway, once united with Sweden under a Swedish king, achieved full independence in 1905.)
from The Great Debate:
In his State of the Union address on Tuesday, President Barack Obama will reportedly reiterate his interest in reducing the threat of nuclear weapons, though unlikely to announce specifics. The administration is interested in seeking an agreement with Russia, building on the New Strategic Arms Reduction Treaty (START) of 2010 and cutting U.S. strategic nuclear forces by another third in the expectation that Moscow will do the same with its nuclear arsenal.
from Stories I’d like to see:
The Hagel fiasco:
I can’t get Defense Secretary-designate Chuck Hagel’s awful Jan. 31 Senate confirmation testimony out of my head. I went back last week and watched most of it again. It was stunning, by far the worst performance by a high-level appointee I’ve ever seen or heard about. I’m not referring to Hagel’s gaffes, though there were some. I’m talking about pretty much everything he said after he read his opening statement. He seemed – is there a nice way to say this? – stupid.
Yet from what I’ve read, those who know him say he is far from stupid. I spent an hour interviewing him about 10 years ago and he seemed pretty sharp ‑ though it was for a profile of a friend of his, so the questions were hardly challenging.