Farmers in the western United States argue that without access to relatively affordable water for cultivating feed-related crops such as alfalfa,
How to Quench the American West’s Thirst
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The Climate Elephants in the Room
As tempting as it is to rely on multilateralism to solve a shared global problem like climate change, the world simply does not have the time
Debt and Dysfunction in America
The latest debt-ceiling drama playing out in Washington is more worrying than usual. Even if President Joe Biden and congressional Republicans
The Global Climate System’s Himalayan Hotspot
As temperatures rise, the Himalayas are experiencing accelerated glacial melt, with dire consequences for water supplies and ecosystems far
In Defense of Industrial Policy
At a time of rising geopolitical tensions and supply-chain fragmentation – when national-security considerations are shaping economic policy,
Washington’s New Narrative for the Global Economy
While the Biden administration’s economic agenda represents a welcome departure from past Democratic presidencies, its latest actions against
The Overwhelming Case for CBDCs
‘Central Bank Digital Currencies (CBDC) offer monetary policy powerful countercyclical tools. Central banks would be foolish not to adopt
Neoliberalism’s Final Stronghold
As the world moves on from four decades of neoliberalism, the Economist remains faithful to the orthodoxy of Margaret Thatcher, Ronald Reagan,
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
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
In Defense of Nature-Based Carbon Markets
Though carbon-offset schemes are riddled with complexity, there is no question that they pay for something that matters. Far from being a
Putin and Trump in the Dock?
The recent indictments of Russian President Vladimir Putin and former US President Donald Trump highlight the law’s growing, and potentially
Crises of Uncertainty
National governments’ responses to the latest banking crisis confirm once again that some countries play by different rules than others.
How China Benefits from Another US Banking Crisis
Today, we are witnessing a potentially lethal interplay between two sources of tension: a financial crisis, reflected in the failure of Silicon
America’s Interest in Ending the Ukraine Crisis
After more than a year of fighting, it is clear that neither side in the Russia-Ukraine war can win on the battlefield. A negotiated ceasefire
Revisiting America’s War of Choice in Iraq
Wars are fought not only on the battlefield but also in domestic political debates and in histories written after the fact. In the case of
Who Is to Blame for the New Banking Crisis?
In 2018, US lawmakers loosened banking regulations on the spurious grounds that smaller banks do not pose systemic risks to the stability
Will Geopolitics or Technology Reshape the Global Monetary Order?
China was supposed to be the main beneficiary of a shift away from the dollar by countries fearing its “weaponization” by US authorities.
The Inflation Picture Gets Murkier
Despite signs that inflation in most major economies has peaked and is trending back down, recent data releases have renewed fears that central