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Navigating the Vortex

Navigating the Vortex

著者: Lucy P. Marcus & Stefan Wolff
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We live in a complex and ever-changing world. To navigate the vortex we must adapt to change quickly, think critically, and make sound decisions. Lucy Marcus & Stefan Wolff talk about business, politics, society, culture, and what it all means.

www.navigatingthevortex.comLucy P. Marcus & Stefan Wolff
政治・政府 政治学 経済学
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  • For the sake of a reset with Russia, Trump has abandoned efforts to mediate peace in Ukraine
    2025/05/20
    After a phone call with Russian leader Vladimir Putin on May 19, US president Donald Trump took to social media to declare that Russia and Ukraine will “immediately start negotiations” towards a ceasefire and an end to the war. He did, however, add that the conditions for peace “will be negotiated between the two parties, as it can only be”.With the Vatican, according to Trump, "very interested in hosting the negotiations" and European leaders duly informed, it seems clear that the United States, and Trump personally, have effectively abandoned their stalled mediation efforts to end the war against Ukraine.It was always a possibility that Trump could walk away from the war, despite previous claims he could end it in 24 hours. This only became more likely on May 16, when the first face-to-face negotiations between Ukraine and Russia for more than three years predictably ended without a ceasefire agreement.When Trump announced shortly afterwards on his social media platform that he would be speaking to his Russian and Ukrainian counterparts by phone a few days later, he effectively mounted the beginning of a rearguard action. This was further underlined when US vice president JD Vance shortly before the Trump-Putin call explicitly told reporters that the US could end its shuttle diplomacy.The meagre outcomes of the talks between Russia and Ukraine — as well as between Trump and Putin — are not surprising. Russia is clearly not ready for any concessions yet and keeps insisting that Ukraine accept its maximalist demands of territorial concessions and future neutrality.Putin simultaneously continues to slow-walk any negotiations. After his call with Trump, he reportedly said that "Russia will offer and is ready to work with Ukraine on a memorandum on a possible future peace agreement", including "a possible ceasefire for a certain period of time, should relevant agreements be reached."The lack of urgency on Russia's part to end the fighting, and, in fact, the Kremlin's ability and willingness to continue the war, was underlined by the largest drone attack against Ukraine so far in the war on the day before the Trump-Putin call. Nor has there been any let-up in the fighting since. And the fact that Putin spoke to Trump while visiting a music school in the southern Russian city of Sochi further suggests that a ceasefire in Ukraine is not that high on the Russian leader's priority list.A large part of the Kremlin's calculation seems to be the desire to strike a grand bargain with the White House on a broader reset of relations — and to signal clearly that this is more important than the war in Ukraine and might even happen without the fighting there ending.This also still appears to drive thinking in Washington, with Trump foreshadowing an improvement in bilateral relations by describing "tone and spirit of the conversation" with Putin as "excellent". Following the two-hour conversation with his Russian counterpart, Trump also seemed excited about the prospects of "largescale trade" with Russia.Trump is on record as saying that there would be no progress towards peace in Ukraine until he and Putin would get together. Such direct interaction between the American and Russian presidents may well be critical to any progress in relations between the two countries. However, it is worth bearing in mind that very little movement towards a ceasefire in Ukraine, let alone a peace agreement, occurred after the previous phone call between the two presidents on February 12.Part of this lack of progress has been Trump's reluctance to date to put any real pressure on Putin. And despite agreement in Brussels and preparations in Washington for an escalation in sanctions against Russia, it is unlikely that Trump will change his approach. If anything, the outcome of this latest Trump-Putin call is an indication that Trump is prioritising the improvement of bilateral relations with Russia over peace in Ukraine.In this context, the sequence in which the calls occurred is also telling. Trump and Ukraine’s president, Volodymyr Zelensky, had a short call before the former spoke with Putin. Zelensky said he told Trump not to make decisions about Ukraine “without us”.But rather than presenting Putin with a clear ultimatum to accept the existing ceasefire proposal, Trump apparently discussed future bilateral relations with Putin at great length during their call — before informing Zelensky and key European allies that the war in Ukraine is now solely their problem to solve.This has certainly raised justifiable fears in Kyiv and other European capitals again that, for the sake of a reset with Russia, the US might yet completely abandon its allies across the Atlantic.However, if a reset with Russia at any cost really is Trump's strategy, it is bound to fail. As much as Putin seems willing to continue with his aggression against Ukraine, Zelensky is as unwilling to surrender. Where Putin can rely on China's continuing...
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    7 分
  • Territorial concessions, and who makes them, are central to any Ukraine peace deal — and to Russia’s long-term agenda
    2025/05/15
    When the Ukrainian and Russian delegations meet in Istanbul later today (May 15), territory — and who controls it — will be high on their agenda.The meeting, when it happens, will have come about after the Russian president, Vladimir Putin, offered to start direct talks between Moscow and Kyiv at a press conference on May 11. Donald Trump, the American president and want-to-be peacemaker, pushed Volodymyr Zelensky, his Ukrainian counterpart, to accept this offer in a social media post, saying that "Ukraine should agree to this, IMMEDIATELY."And the Ukrainian president, still buoyed by a meeting with the British, French, German, and Polish leaders that called for an unconditional 30-day ceasefire, agreed shortly afterwards.In the build-up to the possible resumption of direct negotiations, there was some hope that all three presidents — Putin, Zelensky, and Trump — would meet, but this has now apparently been ruled out, indicating that no breakthrough towards an actual peace deal is expected. This is hardly surprising, given that Moscow’s and Kyiv’s negotiating positions still lie far apart. Russia has made it clear that it wants to focus on the so-called Istanbul communique of March 2022 and a subsequent draft agreement negotiated but never adopted by the two sides in April 2022.The 2022 negotiations were mostly about Ukrainian neutrality and security guarantees, and they deliberately excluded the status of Crimea by relegating its resolution to separate negotiations with a 10-15 year timeframe.When Russia additionally mentions what it calls “the current situation on the ground”, this is thinly-disguised code for territorial questions that have become more contentious over the past three years as a result of Russian gains on the battlefield and the illegal annexation of four Ukrainian regions in September 2022 (in addition to Crimea, which Russia annexed also illegally in 2014).Russia's position, as articulated most recently by the country's foreign minister, Sergey Lavrov, is that "the international recognition of Crimea, Sevastopol, the DPR, the LPR, the Kherson and Zaporozhye regions as part of Russia is ... imperative."This is clearly a non-starter for Ukraine, as repeatedly stated by Zelensky, even though there might be some flexibility on accepting that some parts of sovereign Ukrainian territory are under temporary Russian control, as suggested by Trump's Ukraine envoy, Keith Kellogg, and Kyiv's mayor, Vitali Klitschko.The territories that Russia currently occupies — and claims — in Ukraine have varying strategic, economic, and symbolic value for Moscow and Kyiv. The areas with the greatest strategic value include Crimea and the territories on the shores of the Sea of Azov, which provide Russia with a land corridor to Crimea.The international recognition of Crimea as part of Russia, as apparently suggested under the terms of an agreement hashed out by Putin and Trump's envoy Steve Witkoff, could expand Russia's de jure control of the Black Sea, which could then be used by the Kremlin as a launchpad for renewed attacks on Ukraine. Such extended maritime control would also threaten NATO's eastern flank in Romania and Bulgaria. Any permanent recognition of Russia's de-facto control of these territories is, therefore, unacceptable for Ukraine and its European partners.Compared with Crimea and the Kherson and Zaporizhzhia regions along the Sea of Azov, the regions of Donetsk and Luhansk are of lower strategic value. However, there is a certain economic value in all four regions on Ukraine's mainland.This includes, in the long term, the mineral resources on which the US and Ukraine concluded a separate deal on April 30. While there is considerable doubt over how good a deal this is, the resource potential of the Russian-occupied territories is substantial, including Europe's largest nuclear power plant in Zaporizhzhia. In addition, the four occupied regions boast a substantial labour force among their estimated population of between 4.5 million and 5.5 million people who will be critical to Ukraine's post-war reconstruction.Beyond the strategic and economic value of the illegally occupied territories, the symbolism that both sides attach to their control is the most significant obstacle to any deal, given how irreconcilable Moscow's and Kyiv's positions are. For both sides, control of these territories, or loss thereof, is what defines victory or defeat in the war.Putin may be able to claim that even partial territorial gains in Ukraine since the start of the full-scale invasion in February 2022 short of full control of all four regions are a victory for Russia. But even for him any compromise that would see Russia give up territory that it has conquered — often at exceptionally high cost — would be a risky gamble for the stability of his regime.For Ukraine, anything less than the complete restoration of the country's territorial integrity in its 1991 borders would imply ...
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    8 分
  • Russia's partnership with China, Iran, and North Korea is deepening
    2025/05/14
    Although small in number and only tenth in a line-up of 13 foreign military contingents during the parade marking the 80th anniversary of the defeat of Nazi Germany in the second world war, the participation of Chinese troops in Russia’s Victory Day parade in Red Square, Moscow, on May 9 was a clear indication that President Xi Jinping is fully committed to his “no-limits” partnership with his Russian counterpart, Vladimir Putin.Xi Jinping’s own attendance at the parade, which came as part of a state visit to Moscow, underlines that China is not only supporting Russia, but that Beijing wants this fact to be understood clearly in Kyiv, Washington and European capitals.Travelling to Moscow and having his troops goose-step down Red Square was not a last-minute decision by Xi Jinping. Nor was the multitude of agreements signed by him and his Russian counterpart, Vladimir Putin, anything but part of a well-established pattern of deepening relations between Russia and China.The strengthening of the partnership between Moscow and Beijing has accelerated since Russia launched its full-scale invasion of Ukraine in February 2022. But the breadth and depth of China’s commitment to Russia at this particular moment is undoubtedly related to the broader upheaval in the international order that has been worsened since Donald Trump’s return to the White House.The Trump administration, possibly spooked by market wobbles, has taken steps to restore stability. China and the US have agreed a deal to slash the import tariffs they have imposed on each other. But uncertainty remains — above all about how the complex relationships in the triangle of Washington, Beijing, and Moscow will work out and where this will leave the rest of the world.On May 8, in the wake of the presidential meetings in Moscow, Russia and China also released a joint statement. It stressed the intention of the two leaders to “enhance the coordination of their approaches and to deepen the practical cooperation on maintaining and strengthening global strategic stability, as well as to jointly address common challenges and threats in this sphere.”They reiterated this determination in their press statements afterwards. Putin emphasised that he and Xi Jinping “personally control all aspects of [the] Russia-China partnership and do all we can to expand the cooperation on bilateral issues and the international agenda alike”.Beijing’s read-out from the talks was similarly clear on the alignment between the countries. The Chinese president reportedly said that “in the face of unilateralist counter-currents, bullying and acts of power politics, China is working with Russia to shoulder the special responsibilities of major countries and permanent members of the UN Security Council.”This unequivocal display of how close Moscow and Beijing – and Putin and Xi Jinping personally – are is important for both nations. For Russia, it remains important to demonstrate that western attempts at international isolation have not succeeded.For China, the very public consolidation of ties with Russia is above all a signal to the US. China is keen to stress that Trump’s efforts to engineer a split between Moscow and Beijing, which the American president described as necessary to “un-unite” the two nations during an interview with US talk show host Tucker Carlson in November 2024, have largely failed.However, beyond the glossy surface of the celebrations in Moscow, all is not as well for Russia as Putin is trying to make out. For all the public displays of friendship between their leaders, the relationship between the two countries remains highly asymmetrical.Russia would not be able to continue to wage its war against Ukraine without Chinese support. Trade between Russia and China is critical to propping up the Russian war economy, reaching a record high of nearly US$250 billion (£190 billion) in 2024. Their trade has increased by more than 60% since 2021, yet it is only marginally up since 2023.Perhaps more importantly, however, it is also China's diplomatic clout that is helpful to Russia. If Beijing had taken an unequivocal stance opposing Moscow’s aggression against Ukraine, fewer leaders in the developing world would have sided with Putin.In this case, Russia would probably have lost organisations like the Shanghai Cooperation Organisation and the Brics group of emerging economies as platforms to further Putin’s broader agenda of restoring Moscow’s erstwhile status as a great power.In that agenda, Putin has been moderately successful. But with South Africa and India’s leaders absent from Russia’s Victory Day commemorations, the list of attendees was shorter than at the Brics summit in Kazan, Russia, in October 2024.Notably absent from the celebrations in Moscow was high-level representation from North Korea and Iran — two other key allies of Russia with whom Moscow signed strategic partnership agreements in June 2024 and ...
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    7 分

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