The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
Why are Middle Eastern governments lobbying against a US attack on Iran?
English Summary
Chatham House argues that many Middle Eastern governments now oppose a US strike on Iran because their threat perception has shifted from fear of Iranian regional dominance to concern about Israeli escalation and the consequences of an Iranian state collapse. It points to the weakening of Iran’s “Axis of Resistance” after 7 October 2023, Israeli military pressure across the region, Assad’s fall, and heightened Gulf alarm after Israel’s September 2025 strike on Doha as evidence of this shift. The analysis says regime-change war and broad containment are viewed by Arab states as dangerous and historically ineffective, with high risks of fragmentation, migration, militancy, and regional spillover. The policy implication is to favor de-escalation and targeted, policy-based pressure on Iran’s nuclear, missile, and proxy activities through diplomacy rather than large-scale military action.
中文摘要
查塔姆研究所指出，許多中東政府如今反對美國對伊朗發動打擊，原因在於其威脅認知已從擔憂伊朗在區域內的主導地位，轉向憂慮以色列升級行動及伊朗國家崩潰的後果。該文以2023年10月7日後伊朗「抵抗軸心」的削弱、以色列在區域各地的軍事施壓、阿薩德政權垮台，以及以色列於2025年9月襲擊杜哈後波灣國家的警戒升高，作為此一轉變的證據。分析認為，阿拉伯國家將政權更替戰爭與廣泛遏制視為危險且在歷史上成效不彰，並伴隨高度的碎片化、移民、激進武裝與區域外溢風險。其政策意涵是，應透過外交手段，對伊朗核計畫、飛彈與代理人活動施加有針對性、以政策為基礎的壓力，優先採取降級而非大規模軍事行動。
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