With a likely rematch between Joe Biden and Donald Trump in the 2024 US presidential election, America and the rest of the world were heading into a perilous period even before the latest conflagration in the Middle East. Turmoil in the region will cloud the broader economic outlook – and could dim Biden’s chances.
worries global economic and political developments will put Donald Trump back in the White House.
Around the world, foreign-policy strategists are grappling with new international dynamics, from the Sino-American rivalry and ongoing hot wars to the broader breakdown in multilateral global governance. However, there is much debate about whether global power and alignments are truly shifting, and in what ways.
consider whether the world will become more multipolar or “non-aligned” in the new year.
It is hard to see anything good coming from the current spasm of violence between Israel and Hamas. But this tragedy, which has forced both Israelis and Palestinians to stare into the abyss, might prove to be a turning point that will clear the path for a lasting peace.
considers how the current conflagration might pave the way for a solution to the Israeli-Palestinian conflict.
伦敦—为了应对大流行病新冠肺炎,美联储将购买无限量的国债,而英格兰银行也将购买2000亿英镑(2500亿美元)的金边债券,欧洲中央银行亦将购买7500亿欧元(8150亿美元)的欧元区债券。几乎可以肯定,各国央行最终将提供金融货币,为财政赤字提供资金。但唯一的问题是:它们是否应该明确对此表态。
在目前的情况下,货币政策本身显然是无能为力的。各国央行纷纷下调政策利率,购买债券也压低了长期收益率。然而,没有人认为低利率会释放出更多的消费支出或商业投资。相反,低迷的经济增长将(尽可能地)通过增加政府在医疗保健方面的支出、对下岗工人的直接收入支持和减少税收来抵消。这将不可避免地导致前所未有的财政赤字。
从理论上讲,通过出售政府债券,这些赤字融资可能会通过该渠道提高债券收益率,从而有可能抵消刺激效应。但随着央行购买债券并压低收益率,政府能够以极低的利
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
Subscribe
As a registered user, you can enjoy more PS content every month – for free.
Register
Already have an account? Log in