Time presented an interesting reflective article on Obama's nuclear challenges. Here our interpretation of it and the consequences for the Emerging Markets. Click on the link below our article for the original Time article.
It took the Obama administration far more time than expected to work out a technical nuclear arms reduction treaty with Russian president Dmitry Medvedev. Taking into account the time needed for Senate approval, it is now almost 100 percent certain that another 'project'... on Obama's nuclear agenda - the Test Ban Treaty - will be a harder nut to crack.
Obama and Medvedev: Nuclear Treaty
But it is only the first step for Obama
Senate approval is again needed but with Democrats expected to loose seats in the elections in November it will be harder to gain a two-third majority. On the one hand it is great to have an inspiring president that really tries to act whenever he says 'Yes we can', be it on the health care issue or on nuclear issues. But acting and public relations are one thing. Senate negotiations and chess games with Republicans another. The USA is one of the 8 nations (out of a group of 44) that still have to ratify the Test Ban Treaty. The bulk of Republicans is against it because they believe that it is a 'scam' by technologically weaker nations that might benefit from it. Less tests means less opportunities for the US to maintain and build on its technological lead, especially when taking into account that it is not certain that other countries will not just say that they stopped testing with them actually holding secret tests.
Obama's difficult political chess battle:
With the Republicans at home and with Emerging Markets in the global arena