Big Bets & Black Swans

“A Plastic Moment”

After World War II, the US was at the forefront of creating a “liberal world order” by advocating free market capitalism, democracy and internationalism. America stepped into a plastic moment in history – a malleable juncture when the world needed leadership and restructuring – to set standards of stability, security and governance. That order is weakening, but a new plastic moment has arrived. President Barack Obama’s task in his second term is to conceive and execute a foreign-policy strategy that will maintain and expand the liberal world order for the future. Brookings offers 20 recommendations on how to handle the US’s “big bet” policy issues and its “black swans,” unlikely developments, but those with major impact if they happen.

“Big Bet: Bringing Beijing Back In”

China mistrusts US intentions in Asia. President Obama should establish rapport with China’s new leader, Xi Jinping. The Chinese should know that America wants a stable, economically strong Asia and takes no sides in territorial disagreements. The US should engage in bilateral meetings with the Chinese on military, economic and political subjects. The US can propose various...