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Don’t Count on China to Lift the Global Economy

Don’t Count on China to Lift the Global Economy

As life grinds to a halt in much of the world because of the novel coronavirus, the country that until recently was the hardest hit by the deadly pandemic is slowly coming back to life. The number of new infections in China has fallen dramatically in recent weeks, and cities across the country are returning to something close to normal. Residents are coming out of quarantine, once more strolling in parks and even venturing into restaurants and coffee shops. Companies are reopening and people are starting to return to work, although authorities have banned international visitors to prevent...

April 8, 2020
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China’s Coming Upheaval

China’s Coming Upheaval

Over the past few years, the United States’ approach to China has taken a hard-line turn, with the balance between cooperation and competition in the U.S.-Chinese relationship tilting sharply toward the latter. Most American policymakers and commentators consider this confrontational new strategy a response to China’s growing assertiveness, embodied especially in the controversial figure of . But ultimately, this ongoing tension—particularly with the added pressures of the new coronavirus outbreak and an economic downturn—is likely to expose the brittleness and insecurity that lie beneath...

April 3, 2020
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“America First” Is a Dangerous Fantasy in a Pandemic

“America First” Is a Dangerous Fantasy in a Pandemic

It should come as no surprise that the administration of U.S. President Donald Trump, whose foreign policy doctrine is called “America first,” vastly underestimated the importance to U.S. security of defeating the novel coronavirus pandemic abroad. Trump was slow to recognize that the United States could not seal itself off from the virus: on February 26, the president predicted that the number of infected Americans would soon go down “,” while the White House economic adviser Larry Kudlow insisted that the United States had “contained” the threat because its borders were “.” Commerce...

April 4, 2020
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The Pandemic Will Accelerate History Rather Than Reshape It

The Pandemic Will Accelerate History Rather Than Reshape It

We are going through what by every measure is a great crisis, so it is natural to assume that it will prove to be a turning point in modern history. In the months since the appearance of COVID-19, the disease caused by the novel coronavirus, analysts have differed over the type of world the pandemic will leave in its wake. But most argue that the world we are entering will be fundamentally different from what existed before. Some predict the pandemic will bring about a new world order led by China; others believe it will trigger the demise of China’s leadership. Some say it will end...

April 7, 2020
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The U.S. and China Could Cooperate to Defeat the Pandemic

The U.S. and China Could Cooperate to Defeat the Pandemic

Infectious diseases typically generate opportunities for international cooperation. During the Cold War era, scientists in the former Soviet Union and the United States jointly developed and improved a polio vaccine. The same spirit of cooperation animated the U.S.-Chinese response to the SARS outbreak of 2003. In September 2005, the presidents of the two countries “Ten Core Principles” of global pandemic response, which were later supported by 88 nations and agencies. On May 6, 2009, President Hu Jintao of China personally U.S. President Barack Obama to express his “sincere...

March 24, 2020
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The Real Pandemic Danger Is Social Collapse

The Real Pandemic Danger Is Social Collapse

As of March 2020, the entire world is affected by an evil with which it is incapable of dealing effectively and regarding whose duration no one can make any serious predictions. The economic repercussions of the novel coronavirus pandemic must not be understood as an ordinary problem that macroeconomics can solve or alleviate. Rather, the world could be witnessing a fundamental shift in the very nature of the global economy.The immediate crisis is one of both supply and demand. Supply is falling because companies are closing down or reducing their workloads to protect workers from...

March 19, 2020
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The Coronavirus Threatens Saudi Arabia’s Global Ambitions

The Coronavirus Threatens Saudi Arabia’s Global Ambitions

In late February, Saudi Arabia abruptly suspended all visas for umrah, the year-round pilgrimage to Mecca, the holiest city in Islam. Umrah is less important than the hajj, a pilgrimage that happens in the last month of the lunar year and is required of all able-bodied Muslims at least once in their lives, but it still draws nearly eight million annual visitors.Today, the kingdom’s two holy cities, Mecca and Medina—which give the Saudi king his royal title, Custodian of the Two Holy Mosques—are on total lockdown. Even Saudi citizens are banned from visiting as pilgrims. Saudi authorities...

April 15, 2020
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