With the Taliban’s rule disintegrating across Afghanistan, the United States must now confront the “principal agent” problem that has been in the background since the war on terrorism began. Principal agents rely on proxies to carry out their plans. Getting someone else to do your dirty work always causes trouble. You cannot be sure that proxies will do what you tell them to do, and you may end up with your own hands as dirty as theirs.
Despite an increasingly challenging economic and geopolitical environment, the global economy performed better than expected over the past year. But although analysts’ projections for 2023 were too pessimistic, it appears that consensus forecasts for the coming year may have have swung too far in the opposite direction.
worries that domestic political divisions and market volatility could exacerbate financial vulnerabilities.
If COP28 is to be judged a success, the UAE, as the summit’s host, and other hydrocarbon producers should promise to dedicate some of the windfall oil and gas profits they earned last year to accelerating the green transition in the Global South. Doing so could encourage historic and current emitters to pay their fair share.
urges oil-exporting countries to kickstart a program of green investment in the Global South at COP28.