Publication

This paper addresses national security and international leadership in times of financial turmoil. The authors argue that the US must fix its governance and economic problems in order to remain globally influential. In addition, the US will likely find it both beneficial and necessary to share authority, and accept that other states will sometimes work together without it. As the complexity and integration of the world accelerates, new forms of "minilateralism," entailing voluntary, exclusive and targeted governance approaches and deriving from comparative advantages and issue-based interests, will take shape. These will complement existing treaty-based agreements.