Daily Times
May 25, 2021
The aftermath of the 200-08 financial crisis saw the word “leverage” become a popular addition to commonly-used English words. Referring to the use of debt or borrowed funds to amplify returns on investment, leverage, simply put, makes a sweet deal sweeter.
Soon, it became one of the prime catalysts of the impending turmoil that engulfed the whole world. A quick extrapolation into international politics suggests that even there, leverage is still king. A devastating weapon in the hands of mighty countries alone. Consider that.
History is replete with examples of the use of leverage as policy and means to an end. In the 1973 Arab-Israeli war, Arab members of the Organisation of Petroleum Exporting Countries (OPEC) imposed an embargo against the US, not only in retaliation to its decision to re-arm the Israeli military but also to gain an upper hand in the post-war peace talks. Here, the leverage remained the black gold: oil.
As the last American troops begin to leave Afghanistan and the US turns away from the Middle East to the Indo-Pacific, there is a scramble to redo the foreign policy math in the region. Since it replaced Britain as the major external power in the Greater Middle East half a century ago, the United States of America has been the pivot around which the regional politics has played out.The old colonial powers of Europe deferred to American.
Marvin G. Weinbaum
Director, Afghanistan and Pakistan Studies
With U.S. and allied troops in Afghanistan slated to leave by September or earlier, the Taliban may wait to unleash in full fury its military offensive against government security forces and civilian targets. But in what is probably a preview of its plans, the Taliban has of late sharply increased its attacks along multiple fronts. Targeted assassinations and bombings are on the rise, and insurgent forces are consolidating their grip on districts surrounding the country’s provincial capitals. An emboldened Taliban appears to be eyeing a military victory, but its campaign to dislodge the Kabul government along with its constitutional foundations is political and psychological as well.
U.S. stocks were mixed after the close on Friday, as gains in the Technology, Consumer Services and Industrials sectors led shares higher while losses in the Oil & Gas, Telecoms and Utilities sectors led shares lower.
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The best performers of the session on the Dow Jones Industrial Average were Apple Inc (NASDAQ:AAPL), which rose 2.37% or 2.87 points to trade at 123.86 at the close. Meanwhile, Microsoft Corporation (NASDAQ:MSFT) added 2.24% or 5.12 points to end at 234.11 and UnitedHealth Group Incorporated (NYSE:UNH) was up 1.61% or 5.29 points to 334.16 in late trade.