While carbon pricing and industrial policies may have enabled policymakers in the United States and Europe to avoid difficult political choices, we cannot rely on these tools to achieve crucial climate goals. Climate policies must move away from focusing on green taxes and subsidies and enter the age of politics.
explains why achieving climate goals requires a broader combination of sector-specific policy instruments.
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.
东京——9月初,近十年来我首次访问了中国。因为上次访问后过了很长时间,中国的繁荣——以及依然存在的问题对我来讲显而易见。
中国大城市是20世纪80年代开始的邓小平发展政策获得巨大成功的体现。它们是短短几十年内摆脱极端贫困的多数亿万中国人的家园。北京和上海的规模和活力几乎势不可挡,到处是闪闪发光的摩天大楼,装饰着闪亮的霓虹灯,日益国际化的民众更是随处可见。
站在这些活力城市的街道上,人们可以对中国最近不断攀升的国内消费数据有更深切的体验。人们都在应用最新现代技术,提着印有国际奢侈品牌名字的购物袋。他们不断深入的繁荣还体现在东京和首尔的零售部门,日益富裕的中国游客在那里展开“购物狂欢”。
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