Richard Haass
explains what caused the Ukraine war, urges the West to scrutinize its economic dependence on China, proposes ways to reverse the dangerous deterioration of democracy in America, and more.
If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.
thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
The half-century since the official demise of the Bretton Woods system of fixed exchange rates has shown the benefits of what replaced it. While some may feel nostalgic for the postwar monetary system, its collapse was inevitable, and what looked like failure has given rise to a remarkably resilient regime.
explains why the shift toward exchange-rate flexibility after 1973 was not a policy failure, as many believed.
多伦多——历经100天的激烈战斗,在俄罗斯炸弹依旧如雨点般落在无辜平民头上的时候开始考虑乌克兰重建是很难的。但恰恰因为是在危机和灾难期间,我们必须思考接下来要做些什么。最重要的是,西方大国需要在支持乌克兰重建方面扮演核心角色。
为此,欧盟委员会最近提议,建立向乌克兰提供赠款和贷款的“乌克兰重建”机制。但乌克兰庞大的财政需求将需要欧盟寻找新的资金来源,俄罗斯央行被冻结的外汇储备、以及此前从俄罗斯国有企业没收的资金和从遭制裁的俄罗斯寡头手中没收的资产均应被包括其中。
重建事务专家建议,从地震或洪水等自然灾害的角度来看待此次重建任务。在应急响应的初始分类阶段,政府需要实施止血——就像乌克兰正在做的那样。这意味着发起反击并将俄罗斯侵略者逐出整个国家,包括被占领的顿巴斯地区和克里米亚。
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