The global economy is rebalancing itself away from U.S. demand growth and toward global demand growth.

Moreover, most allies haven't a clue how the pivot will manifest itself and what role they should be playing. If a "pivot" means anything, it is at the least keeping security commitments. Now Obama has made one -- helping Taiwan close the "fighter gap."

The United States needed to address its persistent current account deficits and excessive consumption; China needed to address its ballooning foreign exchange reserves and excessive dependence on exports.

But we need a user’s manual for capitalism — one that somehow makes frighteningly evident the risks inherent in a lack of boundaries and that introduces an element of humility to the abilities we have to control and use information.

As the Pentagon unveils its new budget numbers today, you might be interested in what AEI expert Thomas (Tom) Donnelly recently wrote about the administration's defense strategy (full text here):

International Monetary Fund executive board member Arrigo Sadun and AEI economists Desmond Lachman, Philip I. Levy, and John H. Makin will analyze competing national goals and the future of the G-20. AEI's Claude Barfield will moderate.

When serious action on the international economic front is deferred for a couple of years, institutions deteriorate, problems fester and grow, and resolutions to address these issues may be undercut by new crises that demand attention.

While U.S. voters were not particularly interested in foreign policy (certainly not Asia policy) during this election, Asia is always interested in U.S. voters.