Last August, when the United States passed the 2022 Inflation Reduction Act (IRA), commentators celebrated the fact that the world’s biggest economy would slash its carbon emissions an...Show more
![Illustration of Samuel Bankman-Fried in the Bahamas](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/Bahamas-Economics-Adam-Tooze-Cryptocurrency-Jordan-Carter-lead.jpg?w=800&h=533&quality=90)
The Hidden History of the World’s Top Offshore Cryptocurrency Tourist Resort
The Bahamas represents how global capitalism can go very right, and very wrong, at exactly the same time.
![Pouneh Mirlou illustration for Foreign Policy](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2018/07/final4_sw_v1.jpg?w=800&h=533&quality=90)
Words That Decode the World
From “krysha” to “jugaad,” these terms offer essential insights into particular countries.
![In this photograph taken on May 2, 2019, Benjamin Harnwell poses at the Trisulti Monastery Certosa di Trisulti in Collepardo, Italy.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/ITALY-BANNON-GettyImages-1141282190.png?w=800&h=533&quality=90)
Steve Bannon’s Man in Italy Has Big Plans
The Roman franchise of “War Room” is trying to go legitimate.
![The Los Angeles Department of Water and Power's Valley Generating Station in Sun Valley, California, on Dec. 11, 2008.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/GettyImages-84004870-1.jpg?w=800&h=533&quality=90)
Is America’s Climate Policy Helping—or Hurting—the World?
A climate envoy who has advised four U.S. presidents responds to European and Asian complaints over the Inflation Reduction Act.
![Petro and Maduro shake hands while looking ahead toward the camera. Maduro is on the right and holds a large red folder.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/Maduro-Petro-Venezuela-Colombia-GettyImages-1244411821.jpg?w=800&h=533&quality=90)
The Pipeline Reshaping Venezuela-Colombia Relations
A new gas deal could boost both economies but comes with major risks for Bogotá.
![French First Lady Brigitte Macron (left) and French Education Minister Pap Ndiaye visit a classroom in Paris.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/Brigitte-Macron-Pap-Ndiaye-FranceGettyImages-1245580477.jpg?w=800&h=533&quality=90)
What in the World?
Test yourself on the week of Jan. 7: Russia advances in Ukraine, Myanmar strikes India, and France debates education reforms.
![Then-U.S. Vice President Joe Biden gestures during a speech at Tel Aviv University in Israel on March 11, 2010. Biden was in the Middle East to meet Palestinian and Israeli leaders, including Palestinian President Mahmoud Abbas, Israeli Prime Minister Benjamin Netanyahu, and then-Israeli President Shimon Peres.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/Biden-US-Israel-GettyImages-97631458.jpg?w=800&h=533&quality=90)
Biden Is About to Have His Hands Full in the Middle East
Iran and Israel may set Washington’s agenda for the next two years.
![Turkish President Recep Tayyip Erdogan (R) and Swedish Prime Minister Ulf Kristersson attend a joint press conference in Ankara, Turkey, on Nov. 8, 2022.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/erdogan-sweden-nato.jpg?w=800&h=533&quality=90)
Is Turkey a Crucial or Corrosive NATO Ally?
Erdogan’s foot-dragging on Sweden and Finland is causing headaches for Western leaders.
![A view of the super-yacht 'Phi' which remains impounded by the U.K.'s National Crime Agency because of sanctions against Putin associates on March 30, 2022, in London, England.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/russia-yacht-oligarch-london.jpg?w=800&h=533&quality=90)
Freeze—Don’t Seize—Russian Assets
Permanently confiscating Russian assets is tempting—but expropriating them without evidence of a crime would endanger Western companies.
![U.S. President Joe Biden, Mexican President Andrés Manuel López Obrador, and Canadian Prime Minister Justin Trudeau hug one another during the 2023 North American Leaders’ Summit at the National Palace in Mexico City on Jan. 10.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/Three-Amigos-Biden-AMLO-Trudeau-US-Mexico-Canada-GettyImages-1455609596.jpg?w=800&h=533&quality=90)
The ‘Three Amigos’ Talk Microchips
Mexico could benefit from U.S. overtures on semiconductor manufacturing—if its government gets on board.
![This aerial photo taken on August 10, 2022 shows a Taiwan Semiconductor Manufacturing Company (TSMC) factory in Nanjing, in China's eastern Jiangsu province.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/CHINA-CHIPS-SEMICONDUCTORS-GettyImages-1242428264.png?w=800&h=533&quality=90)
Decoupling Wastes U.S. Leverage on China
Keeping Chinese firms dependent on Western chips is a better strategy.
![Two GBU-39 Small Diameter Bombs sit in the munitions storage area at Al Udeid Air Base in Qatar on Nov. 27, 2020.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/1000w_q95-copy.jpg?w=800&h=532&quality=90)
Pentagon Balks at Sending Ukraine Long-Range Bombs
It’s not fear of escalation. It’s fear of being too late.
![A young man holding a phone casts a shadow as he walks by an ad for social media company TikTok in Berlin.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/tiktok-surveillance-tracking-GettyImages-1273915546.jpg?w=800&h=533&quality=90)
What TikTok Has on You
The social media app’s data collection practices are not unlike its competitors’, but its links to China add a sinister layer to the debate.
![Italian MP Aboubakar Soumahoro casts his ballot for the new president of the Chamber of Deputies in Rome.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/ITALY-MIGRANTS-SOUMAHORO-GettyImages-1243957900.png?w=800&h=533&quality=90)
Italy’s Only Black MP Is Tangled in In-Laws’ Migrant Exploitation Scandal
Aboubakar Soumahoro’s case has become a flashpoint for the right wing.
![Patients are treated in a hospital in Beijing.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/CHINA-DRUGS-COVID-GettyImages-1245956837.png?w=800&h=533&quality=90)
COVID-Ravaged Chinese Public Is Desperate for Paxlovid
Beijing failed to prepare antiviral supplies before new outbreak.
![Brazilians celebrate with fireworks marking the start of the new year in Santos, Brazil.](https://webcf.waybackmachine.org/web/20230115220646im_/https://foreignpolicy.com/wp-content/uploads/2023/01/new-year-global-south-GettyImages-1453552015.jpg?w=800&h=533&quality=90)
Why the World Feels Different in 2023
From climate negotiations to sports to diplomacy, the global south is becoming more powerful.