The recent focus on what divides world leaders, from Syria to the euro zone, has obscured the significant agreements reached at the Group of 20 meeting in St. Petersburg earlier this month. One of the most important was support for free trade and opposition to protectionism.
The Great Debate
The feel-good mood engendered by promising overtures from Iran’s new president Hassan Rouhani and President Barack Obama has raised hopes for a settlement in the Iranian nuclear crisis. But the devil — especially in this case — is in the details.
from David Rohde:
President Barack Obama’s speech to the United Nations General Assembly in New York on Tuesday is not expected to generate much excitement. Battered by his uneven handling of Syria, no bold foreign policy initiatives are likely.
The money markets rejoiced when Larry Summers pulled out of the race to be Federal Reserve chairman. The reason was simple, self-serving and not necessarily wholesome: A different chairwoman — most likely Janet Yellen — would be more inclined to continue the Fed’s program of large-scale bond purchases and low interest rates.
In the dizzying debate over U.S. military intervention in Syria, one key point of consensus stands out: Both the Obama administration and Congress recognize that the resolution to Syria’s conflict must come through a negotiated settlement. Key international actors share the same conclusion.
In December 2009 the world was treated to the unexpected news that President Barack Obama had been awarded the Nobel Peace Prize. Among those most surprised was Obama himself. Not many sitting American presidents have won the award. In fact, Obama was only the third.