Despite the fashionable talk about BRICS and the G2 of Washington and Beijing, we really now live in a G3 world that combines US military power and consumption, Chinese capital and labour, and European rules and technology.
The European financial crisis is not just about the immediate debt problem: it's about Europe's longer term viability in a more competitive world. For the sake of future European generations we need to start the hard bargaining process over real and painful reforms straight away.
In this contribution to an online Economist debate on the future of the euro, Thomas Klau argues that the single currency is indispensible if Europe is to punch its weight on the global stage in the 21st century.
Understandably, European governments are rethinking their aid budgets in the light of the economic crisis. But any cuts to aid and foreign ministry budgets should be judged according to results rather than a simple cost calculation.
Egypt's transition towards democracy is a delicate work in progress. The identity of the new leader – the new 'pharaoh' – of a third of all Arabs will be crucial if the transition is to be a successful one.
The longer term challenges for Europe's politicians are to contest real power at a European level and be honest with voters about the issues confronting the continent in the 21st century.
Berlin's failure to support intervention in Libya but willingness to arm Saudi Arabia shows the central contradiction in a foreign policy that is increasingly driven by the needs of a geoeconomic power's export industry.
Egypt will struggle to progress towards democracy unless some form of military reform takes place. The first challenge is to make sure that any moves towards reform are palatable to the entrenched interests of Military Inc.
After the euphoria of toppling Hosni Mubarak several months ago, little has been seen of the reforms demanded by protestors in Egypt. Democratisation is a long and complex process, but it is important that the rule of law and broad political participation are given prominence.
It is wrong to think of Germany's assertive response to the eurozone crisis as a simple case of old-fashioned Realpolitik. Berlin's willingness to throw its weight around economically still sits awkardly with reluctance on military issues. In short, Germany is a geoeconomic power.