Robert Nolan is an editor at the Foreign Policy Association and producer of the Great Decisions in Foreign Policy television series on PBS. You can follow him on Twitter @robert_nolan
As
the European economy continues to tank, I'm often asked what the United
States can do to help its friends across the Atlantic aside from the
financial advice and moral support offered by our leaders in recent
years. This week, Washington Post columnist David Ignatius, one of the foremost thinkers on U.S. foreign policy, penned a column about the idea of an economic NATO
that provides at least one concrete answer. Now is absolutely the time
to begin discussion of renewing the transatlantic relationship with a
greater focus on strengthening economies in both Europe and here at
home. After all, the United States and Europe account for nearly half of
the entire world's GDP, 40 percent of the world's trade, and together
are still responsible for the security architecture that keeps the
global economy moving.
"One of the ideas I'm
quite taken with is the notion of an economic NATO, or a NATO that
looks at more economic elements because if there is a euro zone crisis,
it's a NATO crisis, if there is a debt crisis it's going to affect our
security," Fred Kempe of the Atlantic Council told me in an interview on
NATO in the 21st century for the upcoming season of Great Decisions in Foreign Policy on PBS. "So I think that you just have to look at the challenges coming at us much more through an economic and a security prism."
The
idea has been bouncing around for some time and is a foreign policy
goal that both Democrats and Republicans could easily rally support
for. Indeed, writing on the Atlantic Council web site, former Obama
National Security Adviser General James Jones argues that an enhanced trade pact
between the United States and its European allies could stimulate job
growth and create, Jones and his colleague Tom Donohue reckon, about
$170 billion in the next five years through the elimination of tariffs
alone. According to Ignatius, the Obama administration is serious about
its pursuit of this goal.
Notable figures within the Republican
establishment, which has called for the creation of more free trade
agreements, are also likely to be on board. An economic NATO also
bolsters their case for a widening of the NATO umbrella to the allies of
the Asia Pacific that are so critical to the world economy. Former
Secretary of Defense Donald Rumsfeld, who also served as U.S. ambassador
to NATO, told Great Decisions that the alliance should partner
"with other free thinking countries, other free political systems, and
other free economic systems—countries like Australia and New Zealand and
Singapore and the Republic of Korea and Japan, and some other nations
outside of NATO's orbit at the present," to foster greater global
security and economic growth.
Support
for engagement with Asia is also championed by noted risk analyst Ian
Bremmer of the Eurasia Group. "What we need is not just NATO on the
conventional defense side. We need a NATO alliance for economic state
craft that's actually led by the Americans and Japanese," he said. "It's
critical, and no one is focusing on that yet."
Whether the
pursuit of a strengthened economic relationship will take place under
the NATO umbrella, through the mechanisms of the European Union, or will
include the free economies of Asia are questions that will take some
time to flesh out. That the conversation about an achievable, bipartisan
and transatlantic initiative that can address the real economic
challenges of the 21st century is now taking place, though, is a step in
the right direction.
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