The long-standing economic consensus that interest rates would remain low indefinitely, making debt cost-free, is no longer tenable. Even if inflation declines, soaring debt levels, deglobalization, and populist pressures will keep rates higher for the next decade than they were in the decade following the 2008 financial crisis.
thinks that policymakers and economists must reassess their beliefs in light of current market realities.
Since the 1990s, Western companies have invested a fortune in the Chinese economy, and tens of thousands of Chinese students have studied in US and European universities or worked in Western companies. None of this made China more democratic, and now it is heading toward an economic showdown with the US.
argue that the strategy of economic engagement has failed to mitigate the Chinese regime’s behavior.
坎布里奇—总统就职典礼和毕业典礼通常都是非常情绪性的事件。这类仪式既标志着一个国家或一个个体的一个段落的结束,也标志着新的开始。
作为哈佛肯尼迪政府学院教授,我每年都要参加毕业典礼。尽管毕业典礼对我来说如此平常,但当我看到学生完成了生命中的一个阶段、开始考虑他们的我来时,我都会感到十分激动。
在我们的典礼上,一个高光时刻是多名教授和公共人物逐字逐句朗读约翰·肯尼迪的就职演说。这是一份写于56年前的文件,它代表着一个不同的世界,一个冷战、核末日威胁以及大量新晋独立穷国所面临的挑战占据决策者关注焦点的世界。但是,在不到14分钟的时间里,这份就职演说每一次都能打动和鼓励观众席上的每一个人,包括来自世界各地的那一半毕业生和他们的家庭。
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