87ee210446f86f500ebb2002_tb0120c.jpg65304b0246f86f6804fa4501

Who Will Rescue the Rest of Us?

The rescue of the 33 Chilean miners, from what was feared would be their tomb, gave the world something to cheer about. But, looking around us today, there do not seem to be many reasons for optimism elsewhere.

SYDNEY – The rescue of the 33 Chilean miners, from what was feared would be their tomb, gave the world something to cheer about. Hope has not, after all, become a redundant virtue in the twenty-first century. But, looking around us today, there do not seem to be many reasons for optimism elsewhere.

The world lurches towards a currency war, or even towards trade protectionism, threatening to destroy jobs and growth. America’s recovery from recession is anemic and largely jobless. China, meanwhile, with foreign reserves worth half its total output, denies with a straight face that it is deliberately manipulating the value of the renminbi. So its trade surplus continues to soar at the expense of other countries.

Nor does a global solution to the challenge of climate change appear any closer. A few weeks of rain in Australia has emboldened those who think that global warming is a gigantic hoax perpetrated by the United Nations or conspiring scientists or maybe men from Mars.

We hope you're enjoying Project Syndicate.

To continue reading, subscribe now.

Subscribe

or

Register for FREE to access two premium articles per month.

Register

https://prosyn.org/iAnFxtE