The recent surge in oil, gas, and electricity prices is forcing governments to confront a policy and political challenge that is further complicating the green transition. Advocates of a rapid shift to renewables need to face an uncomfortable fact: when demand spikes, the world needs all the energy it can get.
Optimists hope that the recent virtual summit between US President Joe Biden and Chinese President Xi Jinping has arrested the alarming slide in Sino-American relations, at least for now. But even if the superpowers’ rivalry stops short of conflict, is substantive cooperation on pressing global challenges possible?
US President Joe Biden must soon decide whether to reappoint Federal Reserve Chair Jerome Powell to another four-year term. With inflation at a 30-year high, the debate over Biden’s choice is understandably focusing on the Fed’s policy priorities as well as its leadership.
Many are calling for a major rethink about how to tackle the climate crisis, but doubt whether the world has the time or the inclination. With the crucial United Nations Climate Change Conference (COP26) in Glasgow now well underway, governments have only one week left to prove the skeptics wrong.
The upcoming United Nations Climate Change Conference (COP26) is a crucial credibility test for global governance, but expectations for progress are low. Will world leaders nevertheless rise to the occasion and adopt the ambitious measures needed to avert disaster, or will political short-termism and great-power rivalry condemn the gathering to failure?
Even if today’s fears of a global production meltdown prove to be exaggerated, COVID-19 has exposed the myriad vulnerabilities of cross-border value chains. The key issue, beyond the immediate priority of easing input shortages, is whether firms will need state help to protect themselves against future supply disruptions.
Unfettered innovation may sound attractive in theory, but can be problematic in practice – not least when it comes to money and payment systems. Can regulators find a way to protect users and the stability of the global monetary system without killing off private digital money before it comes of age?
The recent data-manipulation scandal involving the World Bank’s annual flagship report, and the role of the International Monetary Fund’s current managing director, has shaken public confidence in the Bretton Woods institutions. Will procedural tweaks alone be enough to rebuild their reputation, or do the problems run deeper?
Many investors remain focused on whether the Chinese government will succeed in ring-fencing the problems at the heavily indebted property developer Evergrande. But the bigger issue is what President Xi Jinping’s increasing regulatory crackdown and “common prosperity” agenda mean for China’s long-term growth.
The recent sharp slowdown in economic growth and surge of inflation have rekindled grim memories of the 1970s. Is the global economy heading into another perfect stagflationary storm, or will policymakers manage to navigate a safer course?
The COVID-19 pandemic has caused hunger to spike, highlighting the need for radical reforms of the global food system to ensure its long-term resilience. But many fear that the United Nations Food Systems Summit on September 23 will entrench the current inequitable status quo instead of delivering real change.
For the first time in 16 years, Germany will have a government not led by Angela Merkel. Although it remains to be seen which parties will make up the new ruling coalition following the tightly contested federal election, the end of the Merkel era will offer the country a new opportunity to tackle the many challenges left unaddressed by the departing chancellor.
While recent advances in artificial intelligence may not justify either excessive optimism or dystopian visions, the technology will significantly reshape economies and societies. But will geopolitical competition and a surfeit of hype hamper progress toward setting standards for this critical technology’s responsible development and use?
