While most of the world is preparing for the end of the era of US global dominance, Americans are not even entertaining the possibility. Worse, public intellectuals, who are supposed to think the unthinkable, challenge accepted views, and prepare people for crucial developments, are shirking their responsibility.
SINGAPORE – The time has come to think the unthinkable: the era of American dominance in international affairs may well be coming to an end. As that moment approaches, the main question will be how well the United States is prepared for it.
Asia’s rise over the last few decades is more than a story of rapid economic growth. It is the story of a region undergoing a renaissance in which people’s minds are re-opened and their outlook refreshed. Asia’s movement toward resuming its former central role in the global economy has so much momentum that it is virtually unstoppable. While the transformation may not always be seamless, there is no longer room to doubt that an Asian century is on the horizon, and that the world’s chemistry will change fundamentally.
Global leaders – whether policymakers or intellectuals – bear a responsibility to prepare their societies for impending global shifts. But too many American leaders are shirking this responsibility.
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
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?
From breakthroughs in behavioral economics to mounting evidence in the real world, there is good reason to think that the economic orthodoxy of the past 50 years now has one foot in the grave. The question is whether the mainstream economics profession has gotten the memo.
looks back on 50 years of neoclassical economic orthodoxy and the damage it has wrought.
For decades, US policymakers have preferred piecemeal tactical actions, while the Chinese government has consistently taken a more strategic approach. This mismatch is the reason why Huawei, to the shock of sanctions-focused American officials, was able to make a processor breakthrough in its flagship smartphone.
warns that short-termism will never be enough to offset the long-term benefits of strategic thinking.
SINGAPORE – The time has come to think the unthinkable: the era of American dominance in international affairs may well be coming to an end. As that moment approaches, the main question will be how well the United States is prepared for it.
Asia’s rise over the last few decades is more than a story of rapid economic growth. It is the story of a region undergoing a renaissance in which people’s minds are re-opened and their outlook refreshed. Asia’s movement toward resuming its former central role in the global economy has so much momentum that it is virtually unstoppable. While the transformation may not always be seamless, there is no longer room to doubt that an Asian century is on the horizon, and that the world’s chemistry will change fundamentally.
Global leaders – whether policymakers or intellectuals – bear a responsibility to prepare their societies for impending global shifts. But too many American leaders are shirking this responsibility.
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