Geopolitics / Terrorism – Al Qaeda Strikes Back

Foreign Affairs – By rushing into Iraq instead of finishing off the hunt for Osama bin Laden, Washington has unwittingly helped its enemies: al Qaeda has more bases, more partners, and more followers today than it did on the eve of 9/11. Now the group is working to set up networks in the Middle East and Africa — and may even try to lure the United States into a war with Iran. Washington must focus on attacking al Qaeda’s leaders and ideas and altering the local conditions in which they thrive.
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Chinese Navy – Chinese build five nuclear subs

Financial Times – China has surprised the Pentagon with the pace of development of a new class of submarine that threatens the nuclear balance by providing Beijing with a more robust nuclear deterrent. The Chinese navy is developing a fleet of five nuclear ballistic missile submarines. The Jin class submarines would provide a much stronger nuclear deterrent because they would be armed with the new long-range JL-2 missile.
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US Navy – How the Navy Bought a Lemon from Northrop Grumman

Aviation Week – The General Accountability Office explains in a new report how the Navy’s Advanced SEAL Delivery System program got so messed up that the service had to cancel its orders last year in favor of an ASDS improvement program. GAO says the Navy paid $885 million over 13 years for the first and only ASDS which is so flawed that it’s only available for limited operational use, prompting Congress to ask for a detailed investigation.
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Geopolitics / Economics – The End of National Currency

Foreign Affairs – Global financial instability has sparked a surge in “monetary nationalism” — the idea that countries must make and control their own currencies. But globalization and monetary nationalism are a dangerous combination, a cause of financial crises and geopolitical tension. The world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn.
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