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Add to that the alienation of close allies, many of which doubt the ability and willingness of an Asia-fixated US to stand by them, and Obama’s suggestion that the US should not be focused on the Middle East is shocking.
If we are to close the global gap in personal security and economic well-being, the community of nations will need to cultivate a new ethos of mutual responsibility.
The answer is to emulate the response to sovereign-debt crises in Uruguay, Pakistan, Ukraine, and many other emerging-market economies, where orderly exchange of old debt for new debt had three features: an identical face value (so-called “par” bonds); a long maturity (20-30 years); and interest set well below the currently unsustainable market rates – and close to or below the original coupon.
Even countries that are not particularly close US allies – such as Myanmar, where two Reuters journalists have been sentenced to seven years imprisonment – do not face pushback from the US.
But despite decades of international effort,the world has so far failed to close the economic gender gap.
With the US economy already operating at close to full capacity (unemployment is below 5%), higher imports – and a stronger US dollar – will be needed to meet that demand.
Neither the industrializing countries of the nineteenth century nor the successful Asian catch-up economies of the late twentieth century ever experienced anything close to such rates of population growth.
Sweden, already a humanitarian superpower in terms of the aid it provides to conflict regions, certainly will not close its doors.
So far, the Euro's appreciation is close to 30% from the lows of two years ago, and there is every reason to believe that even more strengthening is to come.
Even during the crisis, banks’ capital-adequacy ratios were higher than the Basel II requirement of 8%, and their distribution of profits has been under the BRSA’s close supervision since 2008.
Other countries have already adopted a hedging strategy, whereby they maintain close security relations with the US while taking advantage of China’s enormous market.
Policymakers will have to worry about a strange beast called “stag-deflation” (a combination of economic stagnation/recession and deflation); about liquidity traps (when official interest rates become so close to zero that traditional monetary policy loses effectiveness); and about debt deflation (the rise in the real value of nominal debts, increasing the risk of bankruptcy for distressed households, firms, financial institutions, and governments).
When doctors are in short supply, the US and UK turn to countries like the Philippines to close the gap.
Of course, a close watch should be maintained, so that enforcement action under Resolution 1973 can be very quickly reinstated.
But, even when the Greek crisis erupted, leaders in Brussels and Frankfurt failed to recognize it as a close cousin of the Argentine crisis of 2001-2002, the Mexican crisis of 1994, and many others in history, including among European countries.
The US and Europe will make their usual demands to close down the country’s hate-spewing madrassas, and to reform a public-school system that, unhindered by the government, churns out young militants burning to kill and die for Islam.
But the legislation cuts the corporate tax rate too much and closes too few loopholes to achieve anything close to revenue neutrality.
While Yomiuri’s unique public effort is not a government initiative, it comes as close as Japan will probably ever get to conducting an acceptable “official” inquiry and offering an adequate apology.
In the case of sharks and rays, a recent survey indicates that close to one-third of the 64 ocean-living species are on the verge of extinction.
Small firms that exported 100% of their production have been forced to close.
As a tourist draw, seen at close quarters in its natural habitat, a manta ray can be worth thousands of dollars; dead on a slab at the quayside, its flesh and gills fetch a fraction of that.
A lower inflation target would alleviate the need for unconventional policies when rates are close to 0% and inflation is still below 2%.
The central government’s weakness, continued insurgent violence, growing Iranian influence in Baghdad and with Shiite powerbrokers in the south, and the natural progression of sectarian politics suggest that the new Iraq will be markedly less stable as the year draws to a close.
At the close of the Cold War, Central and Eastern Europe’s economies were burdened by pervasive state ownership and concentrated investments in heavy industry.
Opportunities for prevention of both diseases must be exploited simultaneously, requiring close co-operation between TB and AIDS control programs.
To achieve this, the US would have had to subordinate its power to the goal of shaping the new order, much as it did at the close of World War II in 1945.
Both managements and investors should take market learning into account, paying close attention to the potential increase in market capitalization that eliminating anti-takeover provisions could produce.
What is French President Emmanuel Macron to make of the German budget announced earlier this month, which shows a marginal increase in defense spending but not enough to meet the NATO target, let alone to close past deficits?
(That commonality perhaps explains the close alliance that has formed between Russia and Iran.)
But sporadic shooting and verbal antagonism between the two sides will continue, as Thailand’s powers-that-be close ranks in a right-wing turn towards the symbols and institutions of royalism, entangling Hun Sen, who should have stayed on the sidelines, in the endgame unfolding in Bangkok.
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