The New Power in the Persian Gulf

RAHEB HOMAVANDI / REUTERS

FUELING GROWTH: China's economic stability is partly dependent on Iranian oil

Really now, isn't working tirelessly toward a shared goal with your allies wonderful? Who wouldn't share in the joy of E.U. foreign affairs czar Javier Solana, German Chancellor Angela Merkel or even — yes — President George W. Bush, as they rhapsodize about the way in which the U.S and the leading West European powers have stood shoulder-to-shoulder trying to get Iran to give up its nuclear ambitions? Of course, these negotiations have gone nowhere, because Tehran rejects their very premise. (What nuclear weapons?) No matter: the Bush Administration has, for once, won praise from pundits delighted at the multilateralism now...

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