Jimmy Carter was President of the United States from 1977 to 1981. After leaving office, he founded the nonprofit Carter Center in Atlanta, and won the Nobel Peace Prize in 2002. He is a member of The Elders, a group of statesmen and humanitarians brought together by Nelson Mandela.
Unlike the 2008 global financial crisis, which was mostly a large negative aggregate demand shock, the next recession is likely to be caused by permanent negative supply shocks from the Sino-American trade and technology war. And trying to undo the damage through never-ending monetary and fiscal stimulus will not be an option.
The Communist Party of China would like the mainland Chinese population and the rest of the world to believe that the ongoing, sometimes violent protests in Hong Kong pose a threat of "terrorism." But the truth is that China has only itself to blame for pushing the city's idealistic youth into the streets once again.
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