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  • Trump, Xi, and a New Balance of Power

    Trump, Xi, and a New Balance of Power
    May 19 2026
    U.S. President Donald Trump arrived in Beijing for his meeting with Chinese President Xi Jinping to great fanfare but left with little to show for it. What does the Trump-Xi summit reveal about the balance of power between the world’s two biggest economies? Rana Mitter, a top historian of China, joins FP Live to discuss where the world’s most important relationship is headed. Plus, Ravi shares his read on why the Iran war may be Trump’s greatest failure. Ravi Agrawal: Iran Could Be Trump’s Greatest Failure James Palmer: The Trump-Xi Summit Was Remarkably Banal Fareed Zakaria: Trump’s China Pragmatism Is Welcome Stephen M. Walt: Chinese Hegemony Might Be Happening James Palmer: China Doesn’t Always Win When the U.S. Loses Learn more about your ad choices. Visit megaphone.fm/adchoices
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    48 Min.
  • Is Russia the Unintended Winner of Trump’s Iran War?

    Is Russia the Unintended Winner of Trump’s Iran War?
    May 12 2026
    There’s little doubt that the conflict in Iran has hurt much of the world economy. But not Russia. Data suggests that the Kremlin has already made billions of dollars in additional oil revenue since the United States and Israel attacked Iran. But beyond just cash, how much will this change President Vladimir Putin’s broader strategy? And what does this mean for the fate of the war in Ukraine? Alexander Gabuev, the director of the Carnegie Russia Eurasia Center, joins FP Live to explain how Russia is navigating a moment of particular global flux. Plus, Ravi offers his read on U.S. President Donald Trump’s visit to Beijing. Christian Caryl: Vladimir Putin Is Much Weaker Than You Think Sean Wiswesser: Don’t Fall for Rumors of Putin’s Weakness Keith Johnson: Russia Is Making Bank on Trump’s Iran War Christian Caryl: How Ukraine Benefited From Trump’s Iran War Alexey Kovalev: Russia’s War Boom Masks an Economic Implosion Learn more about your ad choices. Visit megaphone.fm/adchoices
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    38 Min.
  • The surprisingly normal streets of Tehran

    The surprisingly normal streets of Tehran
    May 8 2026
    While the conflict in Iran has dominated headlines in the last two months, accounts of ordinary life in the Islamic Republic are scarce. According to journalist Ali Hashem, who spent six weeks in Tehran and has visited several times in the last decade, life in the capital looks more normal than one might imagine. Shops and restaurants are largely open, and regular people seem to be rallying around the flag in the face of an external threat. And while the internet as we know it is shut down, an intranet of sorts—with access to local versions of Netflix, Uber, and WhatsApp—is allowing people a semblance of regular life. Hashem speaks with host Ravi Agrawal about his reporting from Iran. Ali Hashem: Iran Is More Unified Than Ever Ali Hashem: The Iran Cease-Fire Has Only Divided the War Ali Hashem: Waiting for the War to End in Tehran Ali Hashem: Iran Is Becoming America’s Ukraine Ali Hashem: Iran Is Built to Withstand the Ayatollah’s Assassination Learn more about your ad choices. Visit megaphone.fm/adchoices
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    32 Min.
  • ‘Ask Me Anything’—the Iran War Edition

    ‘Ask Me Anything’—the Iran War Edition
    May 5 2026
    It’s time for another ask-me-anything edition of FP Live. This one takes on the war in Iran from many angles: the economic impact, regional balance of power, the longer-term global impact, and much else. Producer Dana Sherne puts audience questions to FP’s editor in chief Ravi Agrawal. Ravi Agrawal: The World Is Paying the Price for America’s War Ravi Agrawal: Trump Is Losing the War in Iran Stephen M. Walt: The End of America’s Soft Power Amir Handjani: The Real Meaning of the UAE’s OPEC Exit Aaron David Miller and Daniel C. Kurtzer: Why Trump Might Come to Regret the Iran War Learn more about your ad choices. Visit megaphone.fm/adchoices
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    41 Min.
  • Where the Iran War Goes From Here

    Where the Iran War Goes From Here
    May 2 2026
    The extension of a fragile cease-fire in the Middle East has left the region with no clear path forward. The Strait of Hormuz is still blocked, which means the global energy crisis will get worse. But Tehran’s new leaders are suffering too. What is their plan? Iran expert Karim Sadjadpour joins FP Live to discuss the shifting state of the war. Plus, Ravi shares his read on how the war’s economic fallout is worst in Asia. Ravi Agrawal: The World Is Paying the Price for America’s War David Ignatius: Both Sides Want a Deal. Both Keep Acting As if They Don’t. Menahem Merhavy: The Man Who Represents Post-Clerical Iran Bobby Ghosh: Tehran Can’t Count on Hormuz Philip H. Gordon and Rebecca Lissner: The Strategic Aftershocks of Trump’s Iran War Learn more about your ad choices. Visit megaphone.fm/adchoices
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    51 Min.
  • How Much Will the Iran Conflict Hurt the Global Economy?

    How Much Will the Iran Conflict Hurt the Global Economy?
    Apr 29 2026
    The closure of the Strait of Hormuz is like a ticking time bomb for the global economy, disrupting the flow of energy and rippling through industries from agriculture to semiconductors. How bad could it get? The International Monetary Fund has cut its forecast for global growth this year from 3.4 percent to 3.1 percent in the best-case scenario and 2 percent in the worst case. What countries will be the most affected, and what can they do to protect themselves? Gita Gopinath, an economics professor at Harvard University who was formerly the first deputy managing director of the IMF, joins FP Live to discuss. IMF’s World Economic Outlook: Global Economy in the Shadow of War Ravi Agrawal: The World Is Paying the Price for America’s War Keith Johnson: Why Iran Isn’t Blinking Yet Jason Bordoff and Spencer Dale: Making the U.S. More Resilient to Oil Price Shocks Esfandyar Batmanghelidj: The Iran War Is Jeopardizing the Entire Global Economy Learn more about your ad choices. Visit megaphone.fm/adchoices
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    32 Min.
  • Is America Becoming a Rogue State?

    Is America Becoming a Rogue State?
    Apr 15 2026
    The Iran war has become the most serious foreign-policy challenge for U.S. President Donald Trump in his second term. But does it reveal a larger point about U.S. power? Stephen M. Walt, a professor at Harvard University and Foreign Policy columnist, argues that it does and that the United States is increasingly acting like a rogue state. What damage will this cause, and what can countries do about it? Plus, Ravi offers his read on Hungary’s election and why it matters for the world. Thomas Carothers: Why Viktor Orban’s Fidesz Party Lost Stephen M. Walt: The United States Has Become a Rogue State Foreign Affairs: Stephen M. Walt: The Predatory Hegemon Ravi Agrawal: Trump Is Ushering In a More Transactional World Howard W. French: Trump’s Recipe for Accelerated U.S. Decline Pew Research Center: International Views of China Turn Slightly More Positive Learn more about your ad choices. Visit megaphone.fm/adchoices
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    44 Min.
  • An Iran Hawk’s Take on the Cease-Fire

    An Iran Hawk’s Take on the Cease-Fire
    Apr 9 2026
    The Trump administration’s plans in the Middle East are often criticized by those who say he shouldn’t have attacked Iran. But the White House is also facing flak from those who say that it didn’t go far enough. John Bolton is a longtime proponent of regime change in Iran. He served as national security advisor in the first Trump administration before falling out with the president. Bolton joined FP’s Ravi Agrawal for a debate. Plus, Ravi gives his read on the tenuous Middle East cease-fire. Ravi Agrawal: Why Trump Mishandled Iran New York Times: John Bolton: Finish the Job: How Trump Can Still Win in Iran Ali Hashem: The Iran Cease-Fire Has Only Divided the War Raphael S. Cohen: Trump’s Iran War Is a Dilemma, Not a Debacle Eric Brewer: Preventing an Iranian Bomb Is Only Getting Harder Stephen Walt: America’s Pro-War Elites Must Be Held Accountable Rishi Iyengar: Trump’s Pivot to Pakistan Learn more about your ad choices. Visit megaphone.fm/adchoices
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    34 Min.