How Obama Can Justify His Peace Prize

Angry and disoriented as they are over Chinese aggression, officials in Hanoi face a stark reality: In Asia, there's no recourse, no NATO-like institution to referee or rein in nationalist tensions.
No warmth from these flames.                        Photographer: Peter Parks/AFP/Getty Images

When Nouriel Roubini ranks the geopolitical flashpoints that could rock global markets, Russia's Ukraine adventure doesn't top the list. Nor do the nuclear programs of Iran and North Korea, nor the "arc of instability" from the Maghreb to the Hindu Kush.

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