Richard Haass
explains what caused the Ukraine war, urges the West to scrutinize its economic dependence on China, proposes ways to reverse the dangerous deterioration of democracy in America, and more.
If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.
thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
The half-century since the official demise of the Bretton Woods system of fixed exchange rates has shown the benefits of what replaced it. While some may feel nostalgic for the postwar monetary system, its collapse was inevitable, and what looked like failure has given rise to a remarkably resilient regime.
explains why the shift toward exchange-rate flexibility after 1973 was not a policy failure, as many believed.
伦敦—在执政十年后,习近平几乎肯定会在本周举行的中国共产党第二十次全国代表大会上被确认为中国首位连任三届的主席。但是,在把习近平作为潜在终身独裁者之前,党的忠实信徒应该记住,独裁者从来没有好下场。尽管习近平牢牢把持着权力,但他也会不例外。
要看到习近平的独裁可能导致的结果,只需看看俄罗斯总统普京极其鲁莽的行为。或者,他们可能会想审视一下自己的历史,回顾一下充斥着毛泽东最后十年的文化大革命的谋杀和内斗。
毛泽东的残暴的一人统治促使他精明圆滑的继任者邓小平引入了习近平后来推动废除的两届任期限制。为了防止一个人积累如此多的权力,邓小平设计了一套制度,,最高领导人必须在党内元老的指导下做事,与一小撮资深顾问和权力掮客协商——一个类似内阁的机构。但习近平放弃了这种模式,在2018年让中国立法机关修改宪法,为他的第三个任期扫清道路。
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