Richard Haass
explains what caused the Ukraine war, urges the West to scrutinize its economic dependence on China, proposes ways to reverse the dangerous deterioration of democracy in America, and more.
If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.
thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
The half-century since the official demise of the Bretton Woods system of fixed exchange rates has shown the benefits of what replaced it. While some may feel nostalgic for the postwar monetary system, its collapse was inevitable, and what looked like failure has given rise to a remarkably resilient regime.
explains why the shift toward exchange-rate flexibility after 1973 was not a policy failure, as many believed.
坎布里奇—美国和中国会因为台湾问题开战吗?中国将这个距离其海岸线 90 英里(145 公里)的岛屿视为叛乱省份,习近平主席在最近的中国共产党第 20 次代表大会上提出了这个问题。尽管习近平说他希望和平统一,但他的目标很明确,并且不排除使用武力。与此同时,在台湾,仅被认定为原住民的人口比例不断地超过中国台湾人。
长期以来,美国一直试图阻止台湾正式宣布独立,并阻止中国对该岛使用武力。但中国的军事能力一直在增强,而美国总统拜登已经在四个不同的场合表示美国将保卫台湾。白宫每次都发表“澄清”,强调美国的“一个中国”政策没有改变。
但中国反驳说,美国高层最近对台湾的访问正在削弱这一政策。中国用在台湾海岸附近发射导弹来回应美国众议院议长南希·佩洛西 (Nancy Pelosi) 八月份的访问。如果众议员凯文·麦卡锡(Kevin McCarthy)成为共和党控制的新众议院议长并执行他的威胁,带领官方代表团前往台湾,将会发生什么?
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