CSIS Global Security Forum: Do Nuclear Weapons or Interest Rates Better Define National Power?

“CSIS was founded 1962, the year of the Cuban missile crisis at the depths of the Cold War. Back then the principle measure of strength and vulnerability was nuclear throw-weights and the destructive power of nuclear weapons…. In the 50 years since we have seen the end of the Cold War era, the post-Cold War era, the post-9/11 era, and now we’re in the post-financial crisis era. And I think it’s important to recognize that in this new era, economic and financial issues and considerations are as important diplomatic and military issues. In this new era, the principle measure of a country’ strength or vulnerability is the sovereign interest rate, or the amount that sovereign nations pay to finance their debts.”

                                                                        Ambassador Robert Kimmitt

                                                                        Former Deputy Secretary of the Treasury

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