Comment

Fiscal policy needs to be recalibrated. The longstanding argument that Keynesian fiscal stimulus is the answer to every imaginable economic shock has been exposed as bankrupt. A column by Kenneth Rogoff.

Beijing's propaganda holds that Confucian values are incompatible with democracy, and that there is no viable alternative to one-party rule. This is patently false. A column by Daron Acemoglu and James A. Robinson.

Gone are the days when the ECB could deploy asset-purchase programs to provide freshly printed money to member states without creating withdrawal effects anywhere else. A column by Hans-Werner Sinn.

The low-debt countries do not want to «pay for» the high-debt countries via the European Central Bank while the high-debt countries seem unable to rein in their budget deficits. A column by Charles Wyplosz.

Sri Lanka’s lessons can be paired with those from Brazil, which, following its 2002 debt crisis, quickly adopted the necessary policy reforms and went on to enjoy years of sustained growth. A column by Anne O. Krueger.

China is probably not planning to launch an immediate and deliberate attack on Taiwan. But it may decide to engage the US in a game of chicken in the Taiwan Strait. A column by Minxin Pei.

The eurozone needs a program that operates through intergovernmental, rather than monetary, institutions. The European Stability Mechanism should be given a greater role. A column by Harold James.

The extremism of the Republicans creates an opening for Democrats to form a broader coalition. But to do that, Democrats themselves need to avoid obviously divisive positions A column by Daron Acemoglu.

Governments in the EU protect workers from the bulk of higher energy costs, in exchange for workers moderating their wage demands. A column by Daniel Gros.

The case for a new Middle East strategy focused on diplomatic and economic engagement is strong. Biden must frame the shift as part of a larger strategy for winning the new cold war with China. A column by Minxin Pei.

The main reason why the dollar’s rule lives on despite what is happening in the US and the world is simply that there are no significant strategic alternatives to it. A column by Jim O’Neill.

History is replete with examples of high inflation driving systemic breakdowns. By breeding uncertainty, inflation can easily destroy large, complex political entities. A column by Harold James.