The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
墨尔本—COVID-19仍然再给公共卫生造成灾难性影响，通过结构性冲击肆虐全球经济。目前，疫情已经杀死了一百万多人，而国际货币基金组织（IMF）估计2020年全球GDP将萎缩 4.4%。但看上去也许不可思议，当前危机可以为发展中国家带来一条提高经济自力更生程度之路。
部分原因在于，发达国家总体上承受了疫情的大部分健康影响。按人口比例衡量，许多发达西方经济体的COVID-19病例和死亡数要高于全球南方的发展中国家，尽管它们拥有更强的医疗体系和社会安全网。比如，印度卫生体系全球排名第112，而美国排名为37。印度目前报告每一百万人口COVID-19病例数为69例，而美国是这个数字的四倍。
越南等一些发展中国家通过尽早采取严格的检测、跟踪和隔离措施，有效地阻击了新冠病毒，而大部分发达国家做不到这一点。即使考虑到穷国可能存在低报和数据不准确，发达经济体的相对表现仍然让人难以理解。
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