Russia & Central Asia
Russia’s air force has come a long way from its inept performance during the 2008 war with Georgia. In terms of command and control, logistics and sortie rates during its expeditionary campaign in Syria, it has far surpassed expectations. But that still tells us very little about how it would stack up against a more sophisticated enemy, and especially against the U.S. Air Force.
Asia-Pacific
Over the past two years, protectionism has dominated U.S. trade policy decisions, unsettling American trade partners in the Asia-Pacific region. These countries are unlikely to simply buckle to U.S. demands, instead expanding trade relationships with other states. However, there are signs that the administration could soften its stance and return to more pro-free trade policies. If it does, that could lay the groundwork for a return to bigger economic engagement in the region.
European Union
In June, the European Central Bank made the fateful announcement that it would phase out its bond-buying program – called quantitative easing, or QE – by the end of this year. But putting an end to net bond purchases is not the same thing as ending the ECB’s ultra-lax monetary policy. By leaving the door open to rolling over its massive balance sheet of bonds as they mature, policymakers could keep oxygenating the euro area’s economy for years to come.
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