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State Capitalism
State Capitalism
Putin’s Crony Gets His (Un)fair Share

The purchase of Bashneft by Rosneft represents one more example of how the “market economy” works in Russia—especially when money is being transferred from one state-owned pocket into another.

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Walter Russell Mead & Staff
Crude Economics

America’s rig count is rising, and it’s only going to climb further after OPEC’s decision to cut output.

Crude Economics

Moscow just promised to cut its oil output, but that promise rings hollow.

Asia's Game of Thrones

China’s seizure of Singapore’s troop carriers is a power move that sends a signal about Beijing’s displeasure with the Lion City.

Burma's Rohingyas

Outrage at Myanmar’s leader for her inaction on the Rohingya demonstrates the continuing failure of human rights activists to understand the world or develop wise strategies for dealing with it.

Looking Ahead

Nancy Pelosi’s re-election at House Minority Leader suggests that even the 2016 disaster has not yet weakened the establishment’s iron grip over Democratic power centers.

The Vapors

The inability of U.S. diplomats to explain Trump and his worldview to their foreign interlocutors is likely to be a more serious problem for American foreign policy than any early flubs by the President-elect.

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