As President-elect Joe Biden prepares to take office later this month, many U.S. allies and partners are eyeing an opportunity for better relations with Washington. But Turkey, under the leadership of President Recep Tayyip Erdogan, will face an uphill battle to settle its ongoing disputes with the United States, not to mention its other NATO allies. There are three major impediments to a reset in Turkey’s ties with the West. First, the U.S. remains at loggerheads with Turkey over Erdogan’s decision to purchase an advanced missile defense system from Russia. Second, the European Union is considering tough sanctions against Ankara [...]
Editor’s Note: Guest columnist Daniel McDowell is filling in this week. “The exchange rate is the most important price in any economy, for it affects all other prices,” as Harvard political economist Jeffry Frieden put it. Since the U.S. dollar is the most widely used currency for cross-border exchange and investment, it is fair to say its value is the most important price in the global economy. Though American presidents have limited control over the dollar’s value, their words and their policy choices still carry weight. After four years of an unconventional dollar policy under President Donald Trump, what should [...]
VIENNA—As the clock ticks down to U.S. President-elect Joe Biden’s inauguration this month, hopes are high that he will rejoin and preserve key arms control agreements that were abandoned or neglected by the outgoing president, Donald Trump. If Biden can successfully reverse course, it will go a long way to restoring America’s credibility, given that Trump has “bankrupted the United States’ word in the world,” as Biden put it in Foreign Affairs last March. “On nonproliferation and nuclear security, the United States cannot be a credible voice while it is abandoning the deals it negotiated,” he wrote. But how straightforward [...]
