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.
发自剑桥——石油、矿物和农产品价格的大幅波动是过去几年最为突出的经济发展事态之一。在这一时期的大部分时间中大宗商品价格的大幅上涨几乎是无法回避的。布伦特原油在2020年4月新冠疫情第一波期间报价20美元每桶,而在俄罗斯入侵乌克兰后的2022年3月则达到了122美元的高峰。
石油并不是唯一出现价格飙升的大宗商品。铜价上涨了一倍;小麦提价了一倍有多;从2020年4月到2022年3月全球大宗商品价格指数几乎增加了两倍。这还是以美元计算的涨幅;要是以欧元、日元、韩元或其他货币计的话则涨幅更大。
然而较少人注意到的是许多大宗商品价格在今夏有所下跌。6月初至8月中旬油价下跌了约30%。对美国政治影响甚大的汽油价格在同一时期下降了20%,从每加仑5美元下降到4美元。整体指数下降了12%。
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