Kwasi Kwarteng

Nota: Este archivo abarca los artículos publicados por el autor desde el 1 de mayo de 2009. Para fechas anteriores realice una búsqueda entrecomillando su nombre.

While the 70th anniversary of D-Day last month received a lot of attention, another event, in July 1944 — the Bretton Woods conference, named for the mountain resort in New Hampshire where it was held — was perhaps even more significant in shaping the modern world. It not only led to the creation of what are now the International Monetary Fund and the World Bank, but it also confirmed the central position of the United States dollar in the international monetary system.

Why does this matter for us now? Just as America displaced Britain as the world’s pre-eminent economic power in the interwar period, so, too, the large debts and fiscal pressures confronting the West, and the rise of China and other economic powers, challenge us to think about the future of finance.…  Seguir leyendo »

The Arab Spring, the threat of Iran as an emerging nuclear power, the continuing violence in Syria and the American reluctance to get involved there have all signaled the weakness, if not the end, of America’s role as a world policeman. President Obama himself said in a speech last year: “America cannot use our military wherever repression occurs.”

America’s position today reminds me of Britain’s situation in 1945. Deep in debt and committed to building its National Health Service and other accouterments of the welfare state, Britain no longer could afford to run an empire.

Moreover, Britain, which so proudly ruled the waves a generation ago, was tired; it lacked the willpower to pursue its imperial destiny.…  Seguir leyendo »