Twelve Lessons We Learned for 2015

To all the regular (and irregular) readers of this column, best wishes for 2015. In lieu of a list of predictions, here are twelve geoeconomic and geopolitical lessons that we learned in 2014, and that will shape the new year. Some of the lessons are real: others are likely to prove illusory. Which are which? I’ll offer my own guesses at the end.