On What Really Matters, Walter Russell Mead discusses the possibility of a recession, the new Chinese railway in Africa, and how Donald Trump’s approach to Vladimir Putin compares with Franklin D. Roosevelt’s to Joseph Stalin and Richard Nixon’s to Leonid Brezhnev.

Caption
Bucket-wheel excavators mine rare earth materials on Ukrainian soil on February 25, 2025, in the Zhytomyr region of Ukraine. (Kostiantyn Liberov via Getty Images)