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Great powers do not run one war at a time. They run a portfolio of risk. The binding constraints are not courage or rhetoric; they are magazine depth, industrial replenishment speed, alliance cohesion, and senior-leader attention. A U.S. campaign against Iran therefore cannot be evaluated in isolation. It must be assessed against the broader risk …
View original / Foreign Policy Think of it like an iceberg: The top lies in plain sight, but a lot more hides beneath the surface. In its annual appraisal of the Chinese military published last week, the U.S. Department of Defense seems to be describing an object it finds both familiar and mysterious. The report …
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