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when Brazil hosted the World Cup in 2014, FIFA successfully pressured the country to change its legislation to permit alcohol sales in stadiums. But Qatar was able to impose its own laws on FIFA, in this case prohibiting alcohol sales to regular fans in the stands (though alcohol is freely available to VIP guests in luxury suites). It was one sign of the varying degrees of power held by recent World Cup host nations

Latin American audiences are intimately familiar with the use of the World Cup for political aims, such as when Argentina sought international legitimacy for its bloody dictatorship when it hosted the tournament in 1978. Like the European and U.S. press, the show has discussed the human rights and labor rights complaints surrounding the Qatari-hosted event. Still, Wall told Foreign Policy that, overall, “in South America, perhaps we see [the World Cup] with different eyes.” Latin American coverage of the event has focused more on how soccer culture in both Latin America and the Middle East developed in the context of colonization. It’s been striking to encounter so many Brazil and Argentina fans from the Middle East and Asia at the World Cup, Wall added. “There is something that we see in each other.”

It has also prompted some to wonder if Latin American countries could better capitalize on their own soccer power. “The value of Argentine soft power” remains “much more potential than real,” former Argentine foreign ministry official Tomás Kroyer told Forbes Argentina this week. In Brazil, the Workers’ Party governments of 2003 to 2016 designed several policies to use the appeal of Brazilian soccer as a diplomatic tool, even taking the national team to play in Haiti to herald the arrival of Brazilian peacekeepers in 2004, Veiga de Almeida University international relations professor Tanguy Baghdadi told Foreign Policy in an interview.

Fiscal crises caused by falling prices limit governments’ room for domestic maneuver and force painful political choices

The economic profile of the Gulf states is not, however, typical of most oil-producing states. Most have a much lower ratio of oil reserves to population. Many large oil exporters have large and rapidly growing populations that are hungry for consumption, social spending, subsidies, and investment

In February, even before the coronavirus hit, the International Monetary Fund was warning Saudi Arabia and the United Arab Emirates that by 2034 they would be net debtors to the rest of the world. That prediction was based on a 2020 price of $55 per barrel. At a price of $30, that timeline will shorten. And even in the Gulf there are weak links. Bahrain avoids financial crisis only through the financial patronage of Saudi Arabia. Oman is in even worse shape. Its government debt is so heavily discounted that it may soon slip into the distressed debt category

Ecuador is the second Latin American country after Argentina to enter technical default this year.

Populous middle-income countries that depend critically on oil are uniquely vulnerable. Iran is a special case because of the punitive sanctions regime imposed by the United States. But its neighbor Iraq, with a population of 38 million and a government budget that is 90 percent dependent on oil, will struggle to keep civil servants paid.

Algeria—with a population of 44 million and an official unemployment rate of 15 percent—depends on oil and gas imports for 85 percent of its foreign exchange revenue

The oil and gas boom of the early 2000s provided the financial foundation for the subsequent pacification of Algerian society under National Liberation Front President Abdelaziz Bouteflika. Algeria’s giant military, the basic pillar of the regime, was the chief beneficiaries of this largesse, along with its Russian arms suppliers. The country’s foreign currency reserves peaked at $200 billion in 2012. Spending this windfall on assistance programs and subsidies allowed Bouteflika’s government to survive the initial wave of protests during the Arab Spring. But with oil prices trending down, this was not a sustainable long-run course. By 2018 the government’s oil stabilization fund, which once held reserves worth more than one-third of GDP, had been depleted. Given Algeria’s yawning trade deficit, the IMF expects reserves to fall below $13 billion in 2021. A strict COVID-19 lockdown is containing popular protest for now, but given that the fragile government in Algiers is now bracing for budget cuts of 30 percent, do not expect that calm to last.

Before last month’s price collapse, Angola was already spending between one fifth and one third of its export revenues on debt service. That burden is now bound to increase significantly. Ten-year Angolan bonds were this week trading at 44 cents on the dollar. Having been downgraded to a lowly CCC+, it is now widely considered to be at imminent risk of default. Because servicing its debts requires a share of public spending six times larger than that which Angola spends on the health of its citizens, the case for doing so in the face of the COVID-19 crisis is unarguable.

Faced with the price collapse of 2020, Finance Minister Zainab Ahmed has declared that Nigeria is now in “crisis.” In March, the rating agency Standard & Poor’s lowered Nigeria’s sovereign debt rating to B-. This will raise the cost of borrowing and slow economic growth in a country in which more than 86 million people, 47 percent of the population, live in extreme poverty—the largest number in the world. Furthermore, with 65 percent of government revenues devoted to servicing existing debt, the government may have to resort to printing money to pay civil servants, further spurring an already high inflation rate caused by food supply shortages

The price surge of the 1970s and the nationalization of the Middle East oil industry announced the definitive end of the imperial era. The 1980s saw the creation of a market-based global energy economy. The early 2000s seemed to open the door on a new age of state capitalism, in which China was the main driver of demand and titans like Saudi Aramco and Rosneft managed supply

The giants such as Saudi Arabia and Russia will exploit their muscle to survive the crisis. But the same cannot so easily be said for the weaker producers. For states such as Iraq, Algeria, and Angola, the threat is nothing short of existential.

Beijing has so far shown little interest in exploiting the crisis for debt-book diplomacy. It has signaled its willingness to cooperate with the other members of the G-20 in supporting a debt moratorium.

In a century that will be marked by climate change, how useful is it to restore profits and prosperity based on fossil fuel extraction?

The shock of the coronavirus is offering a glimpse of the future and it is harsh. The COVID-19 crisis drives home that high-cost producers are on a dangerously unsustainable path that can’t be resolved by states propping up their uncompetitive oil sectors. Even more important is the need to diversify the economies of the truly vulnerable producers in the Middle East, North Africa, sub-Saharan Africa, and Latin America.

the immediate cause for the dispatch of the Marines: a coup d’etat in Baghdad on July 14. The pro-American King Faisal II had been brutally murdered in the coup, and his government was swept away. In Jordan, then federated with Iraq, Eisenhower said a “highly organized plot to overthrow the lawful government” of King Hussein had been discovered. Actually, the Central Intelligence Agency had foiled the plot several weeks before.

said President Chamoun had requested American military intervention to stop “civil strife actively fomented by Soviet and Cairo broadcasts.” It was the only time in the speech that Eisenhower even alluded to what had him really worried that day: the rising political power in the Arab world of Egypt’s charismatic young President Gamal Abdel Nasser and his Arab nationalist movement.

It was a less than candid explanation for sending in the Marines. Eisenhower made no mention of the fact that Chamoun was illegally seeking a second term and even claimed Chamoun did not seek reelection. The focus was entirely on Russia and the Cold War, an issue far more Americans understood than the intricate politics of Lebanon or the Arab world.

Nasser, meanwhile, was in Yugoslavia visiting the communist government there. Within hours of Eisenhower’s speech, he flew to Moscow. Both Nasser and his host Nikita Khrushchev agreed that they had no warning of the coup in Baghdad or knew anything about the coup plotters, according to recently declassified Soviet documents. Both agreed that the Iraqi coup was the most important development in the Middle East and the American intervention in Lebanon was a sideshow.

Nasser was, in the summer of 1958, at the pinnacle of his political career and power. Ironically, he had started his political rise very much as a protégé of the Americans.

The British had been completely surprised by the coup in Egypt, but the CIA was not — it had detected the signs of change coming. The agency moved quickly after to coup to establish contact with Nasser.  The point man for the CIA was the legendary Kermit “Kim” Roosevelt, a scion of the Roosevelt family born in Argentina. Kim had visited Cairo before the coup and set up contact with the Free Officers who would carry it out. In October 1952, he returned to Cairo as chief of the CIA’s Near East Division and met with Nasser at the famous Mena House Hotel near the pyramids. Each was impressed by the other and they agreed to a clandestine relationship.

Roosevelt led the CIA operation that overthrew a democratically elected government in Iran and restored the Shah to his throne in 1953, immediately making him the darling of both Dulles and Eisenhower.

Washington agreed to encourage the British to give up their Suez Canal base. British Prime Minister Winston Churchill was initially reluctant, but the U.K.’s huge debts from the world wars compelled him to make a deal and the British army agreed to leave Egypt in 1954. Roosevelt had been active behind the scenes in facilitating the deal.

The CIA gave Nasser a few million dollars, far short of what he wanted, to buy arms. Instead, he used it to build a large transmitter for the Egyptian radio program the “Voice of the Arabs” and broadcast his Arabist and anti-colonialist message to the region. Word spread about the source of the money for the tower, and it was nicknamed “Roosevelt’s Erection.”

Nasser took a decisive step when he arranged a large arms purchase from the Soviet Union’s client state Czechoslovakia in 1955. This alarmed the Cold Warriors in the West, especially John Foster Dulles, who saw the arms deal as the first significant penetration of the Middle East by Russia. It also alarmed the British and French, who saw Nasser’s growing stature as a threat to their remaining colonies and protectorates in the region such as Aden (part of modern-day Yemen), Algeria, Jordan, and Iraq.

Eisenhower opposed the 1956 tripartite invasion of Egypt by Britain, France, and Israel, seeing it as a throwback to imperialism, but the crisis did not improve the American relationship with Nasser.

Nasser’s intelligence agents unveiled a Saudi-funded plot to assassinate him, severely embarrassing King Saud, the man Eisenhower hoped would be a pro-American alternative to Egypt for the Arab public

The July 14 coup in Baghdad was a complete shock. A brigade of troops was scheduled to pass through the capital en route to Jordan to help back King Hussein against the threat posed by Nasser. Instead, as it entered the capital, it turned on the monarchy. The rebels surrounded the royal palace, and when it surrendered, the king and regent were shot to death. It was a bloody affair. The tanks of the coup-makers were covered with pictures of Nasser, and the crowds that cheered the Iraqi monarchy’s demise also screamed for Gamal Abdel Nasser. The military leaders of the coup said very little.

Lebanon’s Chamoun was already asking for American troops, and Jordan was acutely vulnerable. “If the Iraq coup succeeds it seems almost inevitable that it will set up a chain reaction that will doom the pro-West governments of Lebanon and Jordan and Saudi Arabia, and raise grave problems for Turkey and Iran.” Israel, Dulles predicted, would take over the West Bank and East Jerusalem “if Jordan falls to Nasser.” The entire Middle East — or at least its Arab components — might fall to Nasser, in his view. Russia would be the beneficiary.

At risk was a devastating defeat in the Cold War

the British government decided to send paratroopers to Amman to help steady the remnant of the Hashemite monarchy still in power there.

Ike was lucky in the end. His diplomats and generals on the scene in Beirut found a diplomatic way to avoid conflict and prevent the worst. The nuclear weapons were never shipped from Germany to the Mediterranean. After a period of political negotiations, Chamoun was pressured to stand down as president, and the civil war ended.

The return of the Marines to Beirut in 1982, for example, ended in a catastrophic truck bombing of their barracks that killed 241 soldiers. The wars in Iraq have now seemingly become endless. The region itself is constantly in turmoil, with terrorist attacks in many of its capital cities an all too routine atrocity.