After Iraq, we may be tempted to turn inward. That would be a mistake. The American moment is not over, but it must be seized anew. We must bring the war to a responsible end and then renew our leadership -- military, diplomatic, moral -- to confront new threats and capitalize on new opportunities. America cannot meet this century's challenges alone; the world cannot meet them without America.

Globalization has brought huge overall benefits, but earnings for most U.S. workers even those with college degrees -- have been falling recently; inequality is greater now than at any other time in the last 70 years. Whatever the cause, the result has been a surge in protectionism. To save globalization, policymakers must spread its gains more widely. The best way to do that is by redistributing income.

Liberal democracy, led by the United States, may have emerged triumphant from the great struggles of the twentieth century. But the post-Cold War rise of economically successful -- and nondemocratic -- China and Russia may represent a viable alternative path to modernity that leaves liberal democracy's ultimate victory and future dominance in doubt.