Although Japan and China have close economic ties, their diplomatic relations have been strained by clashing interests and cultural friction. The United States has an important role to play in promoting cooperation between Tokyo and Beijing and helping them adjust to a new phase in East Asia's history.

Prices of crude oil are high these days not because oil reserves are waning -- in fact, they are plentiful -- but because inadequate refining capacity has limited the quantity of crude available on the world market. And high prices come with an upside: they could convince the oil industry to invest in new capacity.

In The White Man's Burden, William Easterly offers important insights about the pitfalls of foreign aid. Unfortunately, his overblown attack on global "do-gooders" obscures the real point: that aid can work, but only if done right.