Policymakers on both sides of the Atlantic are increasingly unwilling to leave the governance of technology in the hands of those who design it. But will they succeed in taming Big Tech and developing global rules for the digital economy, or will dominant platforms and national interests prevail?
In little more than a decade, the global financial crisis, climate change, and the COVID-19 pandemic have transformed the monetary-policy environment. How responsive central banks should be to shifts in public opinion, and how broadly they should interpret their mandates, have become urgent questions for those who run them.
The COVID-19 crisis has prompted renewed calls for corporations to contribute to social welfare and the common good, rather than seeking only to maximize their profits. But stakeholder and shareholder capitalism, though widely viewed as competing models, may have more in common than many think.
The US presidential election on November 3 will be one of the country’s most consequential ever – and the most fear-filled since the Civil War era, with President Donald Trump’s COVID-19 diagnosis adding to the jitters. Whether voters re-elect Trump or opt for his Democratic challenger, Joe Biden – and, more important, whether they accept the result – will determine not only America’s future economic course, but possibly also the fate of its 233-year-old democracy.
The United Nations is marking its 75th anniversary in muted fashion, and not only because of the COVID-19 pandemic. With rising nationalism and the return of great-power rivalry threatening to paralyze the organization at the heart of the multilateral system, many are asking whether global cooperation has a future.
Prime Minister Shinzo Abe’s unexpected resignation for health reasons has ended the tenure of Japan’s longest-serving premier, raising questions about the future direction of economic and foreign policy. His successor, Yoshihide Suga, who was Abe’s closest ally in government, must now convince voters and the rest of the world that he is up to the job.
As rich-country governments spend unprecedented sums to mitigate COVID-19’s economic impact, levels of public debt unseen since World War II seem like a problem for another day. But once the pandemic has passed, the inevitable question will arise: Who will foot the bill?
Since the Industrial Revolution, major urban hubs have powered the global economy by serving as magnets for talent and capital. But as COVID-19 continues to wreak havoc and millions discover the benefits of remote working, are the megacities of the pre-pandemic era approaching their expiration date?
US President Donald Trump’s demagogic nationalism has seriously damaged America’s global standing and weakened the rules-based multilateral system that Trump’s predecessors built and led. Will November’s presidential election pave the way for the United States to resume its international leadership role, or fuel global chaos?
The US currency’s recent marked decline against the euro has heightened concerns about its global standing, which had already been eroded by President Donald Trump’s risky and erratic economic policies. Is the greenback’s current weakness the result of short-term factors, or does it augur the end of a monetary era?
Nationwide protests against President Aleksandr Lukashenko’s 26-year rule have escalated in the aftermath of the flagrantly fraudulent election on August 9. With factory workers striking and security forces quitting in disgust, could Lukashenko’s usual response to street demonstrations – mass arrests and escalation of official violence – fail to save him this time?
US Secretary of State Mike Pompeo’s incendiary anti-China speech in late July provides a useful guide to the official thinking underlying the burgeoning Sino-American cold war. But Pompeo’s Christian millenarian worldview is not necessary to explain the two sides’ battle for technological supremacy.
The pandemic-battered United States suffered its sharpest economic contraction on record in the second quarter. As has become overwhelmingly clear, any meaningful recovery will require policymakers finally to get serious about combating COVID-19.
Stephen S. Roach
US President Donald Trump wears his recent experience with COVID-19 infection as some perverse badge of courage, rather than as a warning of what may lie ahead. And the adverse economic consequences of his administration's approach to the pandemic could not contrast more sharply with the robust recovery in China.
contrasts the country's robust and self-sustaining economic recovery with America's continuing weakness.
Jeffrey D. Sachs
The long history of America’s state-sponsored racism will draw to an end in the coming generation. Yet the damage that Trump’s brand of white nationalism could still cause to the US and the world if he wins a second term makes the election easily the most important in modern American history.
explains why the US and the world will not be safe until the avatar of white supremacy is no longer in power.