Thanks to global warming, the Arctic icecap is rapidly melting, opening up access to massive natural resources and creating shipping shortcuts that could save billions of dollars a year. But there are currently no clear rules governing this economically and strategically vital region. Unless Washington leads the way toward a multilateral diplomatic solution, the Arctic could descend into armed conflict.

Economic activity between Africa and Asia, especially China and India, is booming like never before. If the problems and imbalances this sometimes creates are managed well, this expanding engagement could be an unprecedented opportunity for Africa's growth and for its integration into the global economy.

The World Trade Organization has changed the world in the past decade by welcoming China and transforming national fortunes in Cambodia and Saudi Arabia. It provides the catalyst that political leaders need to reform.