Taiwan has endured a wretched year, despite the early exhilaration (in some circles, at least) that greeted the election of the first opposition candidate to Taiwan’s presidency in March 2000. Nothing has seems to have gone right ever since. To those steeped in Chinese tradition, the seemingly never-ending parade of typhoons, floods, earthquakes, fires, landslides and offshore oil spills that Taiwan has borne of late are omens symbolizing the loss of the Mandate of Heaven – which means that the ultimate “Powers That Be” have determined that the current regime is unfit to rule.
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As advanced-economy central bankers assess their recent policy responses, failures, and lessons learned, they should recognize where others got it right and where they got it wrong. Humility requires nothing less.
explain why monetary policymakers must accept a deliberately narrow mandate.
Though Polish voters in October ousted their right-wing populist government, recent elections in Slovakia and the Netherlands show that populism remains as malign and potent a political force as ever in Europe. But these outcomes also hold important lessons for the United States, where the specter of Donald Trump’s return to the White House haunts the runup to the 2024 presidential election.