CAMBRIDGE – En su nueva estrategia de seguridad nacional, la administración del Presidente estadounidense Joe Biden reconoce que Rusia y China representan cada uno un tipo distinto de desafío. Mientras que Rusia “es una amenaza inmediata al sistema internacional libre y abierto… [con] su brutal guerra de agresión”, China es el único competidor de EE.U. “con la intención de dar nueva forma al orden internacional y, cada vez más, con el poder económico, diplomático, militar y tecnológico para avanzar hacia tal objetivo”. Por eso, el Pentágono se refiere a China como su “desafío que marca el paso”-
In its new national security strategy, US President Joe Biden’s administration recognizes that Russia and China each present a different kind of challenge. Whereas Russia “poses an immediate threat to the free and open international system … [with] its brutal war of aggression,” China is the only competitor to the US “with both the intent to reshape the international order and, increasingly, the economic, diplomatic, military, and technological power to advance that objective.” The Pentagon thus refers to China as its “pacing challenge.”
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There are four reasons to worry that the latest banking crisis could be systemic. For many years, periodic bouts of quantitative easing have expanded bank balance sheets and stuffed them with more uninsured deposits, making the banks increasingly vulnerable to changes in monetary policy and financial conditions.
show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.
When a bank fails, the first response by policymakers and the public is to blame risk-loving speculators, greedy investors, or regulators asleep at the wheel. But quenching our thirst for moral adjudication is a poor basis for policy, because the truth is both simpler and more troubling.
argues that recent market turmoil has revealed that the sector’s main vulnerability is unavoidable.
por Joseph S. Nye, Jr.
CAMBRIDGE – En su nueva estrategia de seguridad nacional, la administración del Presidente estadounidense Joe Biden reconoce que Rusia y China representan cada uno un tipo distinto de desafío. Mientras que Rusia “es una amenaza inmediata al sistema internacional libre y abierto… [con] su brutal guerra de agresión”, China es el único competidor de EE.U. “con la intención de dar nueva forma al orden internacional y, cada vez más, con el poder económico, diplomático, militar y tecnológico para avanzar hacia tal objetivo”. Por eso, el Pentágono se refiere a China como su “desafío que marca el paso”-
In its new national security strategy, US President Joe Biden’s administration recognizes that Russia and China each present a different kind of challenge. Whereas Russia “poses an immediate threat to the free and open international system … [with] its brutal war of aggression,” China is the only competitor to the US “with both the intent to reshape the international order and, increasingly, the economic, diplomatic, military, and technological power to advance that objective.” The Pentagon thus refers to China as its “pacing challenge.”
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