The Gulf Crisis: Secondary Effects

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by James Spencer There is a putative Chinese curse: “may you live in interesting times.” It’s especially the case where the markets are concerned. Markets hate instability, and yet that is exactly what they have experienced this past week in… Continue Reading  

What Does Victory in Yemen Look Like?

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by James Spencer The Saudi-led war in Yemen, which was initially supposed to have lasted only a few weeks, has now dragged on for more than two years. The fighting has reached a predictable stalemate, in roughly the same place… Continue Reading  

Does the Road to Tehran really lie through Sana‘a?

CENTCOM Commander General Joseph Votel (C) inspects troops with President Donald Trump (L) during Trump's February visit to CENTCOM HQ at MacDill Air Force Base

by James Spencer The Washington Post reports that “The Pentagon is looking to increase support for Saudi Arabia’s two-year-old war against Houthi rebels in Yemen[. …] The Pentagon views increased support for the Saudi-led coalition as one way of potentially… Continue Reading  

Avoiding All-Out War in Yemen

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by James Spencer Yemen’s problems are many, but the most urgent is to make and enforce peace. That is easier than many think—if the political will is there. Unlike Syria, the Yemeni conflict is principally intra-elite and resource-driven not revolutionary.… Continue Reading  

The Best Way of Dealing with Iran: Capitalism

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by James Spencer Like many previous US administrations over the past four decades, the Trump presidency’s Middle Eastern policy seems to be coalescing into the trusty “pro-Israel and anti-Iran” channel. That’s hardly surprising, given that it has been the comfortable… Continue Reading