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Although relations with the rest of the world were all but ignored in the presidential election, the winner confronts an array of foreign-policy issues that hold profound implications for the United States' political and economic well-being.

In fact, overseas issues could well rival domestic concerns in the next four years. The world remains rife with nasty regional conflicts, while some big powers such as Russia and China may face delicate transitions of leadership.

The new administration's approach to trade will affect US jobs and corporate profits, while its stewardship of Middle East peace efforts and policies in the Gulf could impact the availability …