Between new wars, the return of nuclear brinkmanship, and threats to the US dollar, there is good reason to worry about the future of global
War and Dollars
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Politics
World of Warfare
The post-1945 Pax Americana appears more vulnerable than ever before, and its main rivals are eager to exploit its apparent weaknesses in
The Middle East: Emotion, Reasoning and Hope
The massacres of innocent Israeli men, women, and children by Hamas were monstrous acts of pure evil. How are we to understand what has happened?
The Spiral of Violence that Led to Hamas
In the eyes of many outside observers, the cause of Palestinian autonomy and statehood has now been tainted by the gruesome murders and abductions
The New World Disorder
The conspicuous absence of leaders such as Chinese President Xi Jinping and Indian Prime Minister Narendra Modi from the 78th session of the
This Cold War Is Different
Contrary to how it may appear to many, not least in the US, the new cold war seems to be based not on the old logic of polarization, but on
Is America Reverting to Isolationism?
Following the first Republican debate of the US presidential primary season, there is good reason to worry about what a Republican victory
Why Is America Undercutting Japan?
At a time when the United States is asking its allies to help it counter China, its wasteful, inefficient industrial policies are making it
The Comeback of Industrial Policy: Bidenomics and the Global System
Industrial policy is not always wrong and sometimes it is very right. Now is one of those times. Even Adam Smith might agree.
The Long Reach of China’s Demographic Destiny
Although China is on the verge of escaping the dreaded “middle-income trap,” it is aging fast and facing significant economic
Focus on Productivity, Not Technology
Scientific and technological innovation may be necessary for the productivity growth that enriches societies, but it is not sufficient. Without
India and the Global Balance of Power
Great power politics now include India. But will India tip the balance?
Has Putin Lost Russia?
Vladimir Putin’s greatest nightmare has come true, with Russia having been brought to the brink of civil war. Even if a massacre of the
Russia’s New Rasputin
The chief of the feared Wagner Group, Yevgeny Prigozhin, has been attacking Russia’s top military brass and warning that ordinary Russians,
The Myth of Western Decline
In recent years, China has capitalized on the G7’s diminishing share of global GDP to proclaim the superiority of its one-party system over
In Defense of Industrial Policy
At a time of rising geopolitical tensions and supply-chain fragmentation – when national-security considerations are shaping economic policy,
Xi of Arabia
After decades of heeding Deng Xiaoping’s advice to “hide its strength, bide its time, never take the lead,” China has apparently decided
Why Ukraine Matters
Although Florida Governor Ron DeSantis has walked back recent remarks claiming that America has no important stake in the outcome of Russia’s
The Sino-Indian Rivalry Is Reshaping Asia
By standing up to Chinese territorial encroachments, India has openly challenged Xi Jinping’s expansionism in a way that no other world
China’s Abandoned Illusion of High Growth
China is moving away from growth for growth’s sake. Instead, the focus is on balanced growth and macroeconomic stability.
A BRICS Threat to the Dollar?
Chatter that the dollar is about to be displaced as the world’s primary reserve currency are misplaced. The issue is not so much the strength
A Bank Murder Mystery
The primary lesson learned from recent banking stress is that banks are fundamentally risky ventures. Regulation must be improved and strengthened.
In Search of a New Political Economy
The late-twentieth-century assumption that democracy and markets would ultimately triumph everywhere has since been met by an intellectual
A Reality Check for the Renminbi
While China has made great strides in internationalizing its currency, the goal of dethroning the US dollar is still far off. To undermine