Since the 1990s, Western companies have invested a fortune in the Chinese economy, and tens of thousands of Chinese students have studied in US and European universities or worked in Western companies. None of this made China more democratic, and now it is heading toward an economic showdown with the US.
argue that the strategy of economic engagement has failed to mitigate the Chinese regime’s behavior.
While Chicago School orthodoxy says that humans can’t beat markets, behavioral economists insist that it’s humans who make markets, which means that humans can strive to improve their functioning. Which claim you believe has important implications for both economic theory and financial regulation.
uses Nobel laureate Robert J. Shiller’s work to buttress the case for a behavioral approach to economics.
伦敦—几天前,美国当选总统唐纳德·特朗普发Twitter——他选择Twitter作为媒介——宣布他不需要中国的允许才能联络台湾,因为中国也没有要求允许人民币贬值。当时,我希望特朗普的地震式改组能在经济上有利于衰落的美国。
我认为,发达经济体需要一次地震来摆脱2008年后的疲软以及对宽松货币政策的过度依赖。特朗普行事总是出人意表,看上去是这一任务的上佳人选。但如果特朗普的破坏真的要有利于美国,就应该专注于经济实质,而不是简单化的——常常也是错误的——民粹主义模因(memes)。
从他对中国的诘难看,特朗普简直就是一根搅屎棍,正在激怒他的支持者——他没有推进任何建设性日程。毕竟,理性的中国观察家——包括特朗普本人的一些顾问,我过去曾与他们共事过——明白,人民币升值已经有一段时间了。
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