The Big Picture brings together a range of PS commentaries to give readers a comprehensive understanding of topics in the news – and the deeper issues driving the news. The Big Question features concise contributor analysis and predictions on timely topics.
Israel and Hamas have agreed to a hostage-release deal and a four-day pause in fighting – the first since Israel launched its assault on Gaza following Hamas’s October 7 terrorist attack. But, with the specter of more violence and regional escalation looming large, achieving a lasting resolution to the Israeli-Palestinian conflict has never been more urgent.
When inflation began to surge in the United States in 2021, battle lines were quickly drawn among economists: some insisted that the price increases were transitory – the result of temporary factors, especially supply-chain disruptions – while others blamed massive fiscal stimulus and called for a forceful monetary-policy response. With new data showing a significant decline in inflation, alongside relatively robust employment and GDP growth, has “team transitory” been proven right?
As Israel’s war against Hamas enters its second month, tensions are running high across the region, with some observers predicting a geopolitical reshuffling, and others fearing a wider Middle East war. We asked PS commentators to assess the likely behavior of Israel’s neighbors and regional powers such as Saudi Arabia, Iran, and Turkey.
The latest outbreak of violence between Israel and the Palestinian militant group Hamas began just days ago, but the death toll is already in the thousands. With Israel gearing up for prolonged military intervention in Hamas-controlled Gaza, will the massacres the group carried out bring anything but suffering to ordinary Palestinians?
“Our future is bright,” Chinese President Xi Jinping declared in a recent speech, “but the road ahead will not be smooth.” Given his country’s enormous debts and imploding property sector – which have already spurred the World Bank and the International Monetary Fund to slash their growth forecasts – that might be the economic understatement of the year.
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From semiconductors to electric vehicles, governments are identifying the strategic industries of the future and intervening to support them – abandoning decades of neoliberal orthodoxy in the process. Are industrial policies the key to tackling twenty-first-century economic challenges or a recipe for market distortions and lower efficiency?
Throughout India’s G20 presidency, which culminates in this week’s summit in New Delhi, Prime Minister Narendra Modi’s government has orchestrated an unprecedented marketing campaign portraying the country as a global economic and diplomatic powerhouse. But, despite some favorable trends and impressive recent achievements, some believe that hype springs eternal.
Even as China’s growth miracle unfolded, many warned of a slowdown and cautioned that the country, like so many before it, could become ensnared in the middle-income trap, unable to claw its way to high-income status. With the real-estate sector in turmoil, youth unemployment skyrocketing, and growth slowing sharply, have the China pessimists been proved right?
Reactions to Donald Trump’s criminal indictments have tended to focus on the implications for US democracy, and for good reason. But with George Soros warning that the cases against Trump could trigger a constitutional crisis, we asked PS commentators to assess the possible economic repercussions.
The US Federal Reserve has raised interest rates at 11 of its last 12 policy meetings, winning it kudos for bringing about a significant drop in inflation without triggering a spike in unemployment or a recession. Has the Fed pulled off a soft landing, or should Americans be bracing for more turbulence?
While generative artificial intelligence has inspired no shortage of doomsayers, whether the technology does more harm or good will depend on how it is developed, by whom, and to what ends. What will it take to ensure that AI innovation is pursued responsibly, and that the results are applied in ways that bring broad-based benefits?
Despite slowing price growth, the US Federal Reserve has raised its benchmark policy rate by another 25 basis points, to a range of 5.25% to 5.5% – its highest level in more than two decades. With the European Central Bank also hiking rates over lingering inflation concerns, we asked PS commentators whether the fixation on 2% is warranted.
Israeli Prime Minister Binyamin Netanyahu has vowed to press on with his blatantly anti-democratic judicial reforms. With anti-government protests continuing to rock Tel Aviv and other Israeli cities, we asked PS commentators what comes next for Israel.
