More than a decade after the 2008 financial crisis, the major central banks have proved powerless in their quest to spur moderate inflation, even under loose monetary conditions. But whether persistently low inflation is the “new normal” remains to be seen.
This month’s European Parliament election is widely viewed as a turning point that will decide the European Union’s fate. But even if Europe is spared large gains by disruptive populist forces, it won’t be out of the woods.
Even before the 2008 financial crisis and the subsequent tepid recovery in most countries, working hard no longer guaranteed a middle-class life in the developed economies. A decade later, with many countries’ political stability at stake, restoring the conditions for broadly shared prosperity has become an urgent priority.
Judging by US and European policymakers’ statements, one might assume that China already represents an existential threat to the West. But whether rhetoric reminiscent of the Cold War is appropriate to the economic and geopolitical shifts accompanying China’s rise is the subject of growing debate.
Citizens and policymakers alike have finally lost patience with digital giants’ use and abuse of personal data, anti-competitive behavior, and lack of accountability, and now a raft of proposals seeks to bring the industry to heel. But with so much at stake, devising the right regulatory strategy will be an uphill battle.
This Easter and Passover, many people are hearing the death knell for the Middle East peace process – and possibly for Israel’s liberal democracy – following Prime Minister Binyamin Netanyahu’s re-election. Is the Jewish state heading toward a long sojourn in the wilderness?
Seeking elected office is as much about political tactics as it is about public policies. And in an age of populism, mainstream parties are struggling to get a grasp on both.
After seven decades, NATO is facing challenges that are both familiar and new: a revanchist Russia that seems determined to undo the post-Cold War settlement in Europe, and a US president who holds the Alliance in contempt. Does a NATO with an uncertain American foundation have a real future?
China’s rapid growth under a state-led development model has long made a mockery of Western assumptions about the ingredients of economic success. But whether the China model will stand the test of time remains an open question.
With Chinese President Xi Jinping visiting Italy to secure its participation in his signature “Belt and Road Initiative,” Paola Subacchi and Lucrezia Poggetti both warn that the Italian government is about to give away much for the sake of very little.
Given the long history of creative destruction since the Industrial Revolution, it may be a truism that capitalism’s current woes won’t be the last. But just because crises are the norm doesn't mean that every crisis is normal.
Economics has long drawn criticism for its academic insularity, claims of objective truth, and privileged influence in policymaking circles. But now that economists rank among the least-trusted professions, it's time for the high priests to do some soul searching.
A recent military clash between India and Pakistan has brought the two nuclear powers’ long-simmering acrimony back to a boil. And whether further escalation is avoidable may depend on who is really calling the shots.
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