This week, Walter and Jeremy discuss NATO’s air defenses, the China-led shadow global economy, South Africa’s election results, and the hush money conviction of Donald Trump.

Each week on What Really Matters, Walter Russell Mead and Jeremy Stern help you understand the news, decide what matters and what doesn’t, and enjoy following the story of America and the world more than you do now. For more, check out tabletmag.com/what-really-matters. You can read Walter Russell Mead’s Tablet column here, and check out more from Tablet here.

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