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
香港—在新疆自治区某住宅楼发生致命火灾后——许多人将火灾归咎于新冠封锁——中国抗议者走上街头,要求结束严厉的传染病限制措施。甚至在抗议爆发之前,就有迹象表明习近平主席的政府正准备取消代价高昂的新冠清零 政策,只是确切的时间表仍不确定。但这个过程比许多人意识到的要复杂得多。
中国退出新冠清零显然带来了必须治理的公共卫生风险,特别是考虑到老年人疫苗接种率较低。然而,鲜为人知的是这一过程带来的运筹挑战。
正如中国从香港的惨痛经历中所吸取的教训,人口稠密地区的感染潮可能导致医疗资源需求激增,使公共卫生系统陷入瘫痪。如果政府不能找到办法快速满足这一需求,死亡人数——尤其是老年人——可能会飙升。
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
Subscribe
As a registered user, you can enjoy more PS content every month – for free.
Register
Already have an account? Log in