The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
坎布里奇——上月末,一位外国领导人指责美国总统乔·拜登推行“超级激进”的工业政策。指责美国的人不是作为美国主要地缘政治对手的俄罗斯总统弗拉基米尔·普京或中国主席习近平,也不是国内经济在美国主导的制裁重压下举步维艰的伊朗总统易卜拉欣·莱西和委内瑞拉总统尼古拉斯·马杜罗。
不, 抱怨的人是法国总统伊曼纽尔·马克龙,一位美国盟友,其内容则是关于拜登的通胀削减法案,也就是通过补贴国内对电动汽车、电池和其他可再生技术的投资实现美国经济脱碳的标志性举措。符合补贴条件需要企业从美国生产商那里采购关键物料,这种做法激怒了马克龙和其他领导人,他们声称,这项新法案破坏了欧洲工业。马克龙指出,法国自身也面临着创造中产阶级就业机会的挑战。“而通胀削减法案的后果,”他直言不讳地说,“就是你有可能可以解决自己的问题,但同时会加重我的。”
但在解决气候变化问题的同时增加其他国家的成本恰恰是欧盟一直想要做的事情。通过其碳边界调整机制(CBAM),欧盟将很快对某些碳密集型进口商品征收关税。这样做的目标是在不允许外国企业通过更廉价的进口商品损害欧洲生产商利益的情况下,保持较高的国内碳价格。但进口税也会伤害到许多低收入国家,如莫桑比克、埃及和印度。
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