Richard Haass
explains what caused the Ukraine war, urges the West to scrutinize its economic dependence on China, proposes ways to reverse the dangerous deterioration of democracy in America, and more.
If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.
thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
Although Silicon Valley Bank was not deemed to be systemically important, its insolvency forced the US Federal Reserve to head off systemic contagion and exposed the inadequacy of the FDIC’s partial deposit insurance regime. The financial-stability framework adopted after the 2008 crisis obviously needs another overhaul.
considers what the bank’s failure should mean for the current financial-stability framework.
上海--最后一个与美国抗衡的超级大国苏联在1991年瓦解了。但是,除了其军事实力以外,苏联从来没有足够的实力来制约美国的影响。在八十年代末,日本看似可以挑战美国在工业上的领先地位,但是到了九十年代日本失去了它的竞争实力。中国自身也许想要在多极化的世界中成为一个大国,但是其整体实力不足令其难以长袖善舞。鉴于这些现实因素,中国认为扩大中的欧盟有可能制衡美国实力。
在经济产值上,如今的欧盟与美国并驾齐驱。但是欧盟尚未建立强大的防卫系统以有效地应付地区性紧急局势或者全球性需要。当这一系统建立之时,应该具有何种实力、以及如何与美国相比呢?
中国在评估美国实力的时候密切关注美国有关单极世界或者多极世界是非曲直的辩论。有些美国人赞成由美国统领的单极世界。这样一个美式和平可以让美国以较少的代价予以维持,但是如果美国像在伊拉克问题上采取错误的政策,那么整个世界都会担忧。
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