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.
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.
剑桥——1974年修完研究生课程后,我有幸与哈佛医学院的福克曼博士一起从事博士后研究工作。福克曼博士有理论认为切断营养来源可以遏制肿瘤的生长。他认为肿瘤会分泌一种叫肿瘤血管生成因子的物质,导致周围的血管向其生长,并为其输送营养、排出废物。福克曼推测血管生成过程是肿瘤存活的关键因素。
这种理论完全有悖于传统智慧。审核福克曼科研拨款的科学家认为新血管的生成仅仅是因为炎症。但福克曼仍坚持研究,并最终证明这种化学物质确实存在。四十年后的今天,已有1000多万患者接受过这种物质的治疗,其中既包括黄斑变性等新生血管性疾病,也包括各式肿瘤。
我在他的实验室工作时也有过类似的经历,我当时负责分离抑制血管生长的主要大分子量物质。这需要发明一种生物测定法,让我们在肿瘤生长过程中观察对血管生长的抑制。
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