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The Ledger

Sharp, direct and opinionated. One argument, one verdict, every time — on the world's most consequential developments in diplomacy, geopolitics and international affairs. Not a news summary. Not a survey of perspectives. A position, taken clearly and defended honestly. If something significant happened, there is a view on it here. Read it before you form your own.

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The Ledger

Negotiation and the Threat

The United States opened talks with Cuba by first threatening economic strangulation. Washington framed it as leverage. Havana called it coercion. The distinction matters: negotiations conducted under explicit threat produce agreements that last only as long as the threat does.