The resumption of the Arab-Israeli peace negotiations, for the first time under the Clinton administration's auspices, and following a five-month-long suspension, presents a challenge and an opportunity for President Clinton to advance significantly the peace process toward a solution. What may come out of the new round of talks, analysts agree, will depend on (a) the readiness of the United States to persuade, push, or pressure the parties to make important concessions to produce interim agreements, and more important, (b) the ability of the US to conceptualize how a comprehensive Arab-Israeli peace would look in the face of continuing regional instability. Without such an all-encompassing conception, the US will be reacting to proposals and counterproposals that reflect each participant's separate agenda.