In a rapidly digitalizing world, central banks are staring down a future in which they may lack the tools necessary to manage crises, and in which they may no longer be able to protect their monetary sovereignty. They should recognize that digital currency is a source of institutional salvation.
thinks governments must embrace central bank digital currencies or risk a fundamental loss of control.
With recent landmark legislation to support decarbonization and innovation, the United States is making up for lost time after its failed 40-year experiment with neoliberalism. But if it is serious about embracing a new paradigm, it will need to do more to help bring the rest of the world along.
explains how to minimize the political risks of new spending packages in the US and Europe.
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慕尼黑—《经济学人》(The Economist)最近报道说,德国的经常项目盈余太高了。这是对的。但德国的盈余为什么这样高?有人说德国出口量大是因为其制造的产品质量高,也有人认为德国进口太少,因为工资太低了。
还有人指出,根据定义,一国的经常项目盈余等于其资本出口。因此,德国存在储蓄大于投资的盈余,它需要的是减少储蓄,增加投资。
当然,德国的经常项目盈余也反映了其他国家的赤字,包括美国。美国占了世界经常项目赤字总额的三分之一左右。因此,有可能很快就会有人呼吁赤字国增加竞争力、降低工资、增加储蓄且减少投资。
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