Killing Twitter
Opinions

Killing Twitter

Antara Haldar, CAMBRIDGE – In April 2022, the world’s richest person, Elon Musk, asked, “Is Twitter dying?” Five days later, he launched an apparently whimsical bid to buy the social-media platform. It took months of legal wrangling to complete the deal, but on October 27, Musk honored his $44 billion offer, acquiring a new toy: […]

Done With Deglobalization?
Opinions

Done With Deglobalization?

Michael Spence, HONG KONG – November was an extraordinary month. Global leaders gathered for four major meetings: the ASEAN meeting in Cambodia, the G20 summit in Indonesia, the Asia-Pacific Economic Cooperation (APEC) forum in Thailand, and the United Nations Climate Change Conference (COP27) in Egypt. What was striking wasn’t the timing of the meetings, but […]

America Should Rethink Its Economic War on China
Opinions

America Should Rethink Its Economic War on China

Pinelopi Koujianou Goldberg, NEW HAVEN – Just days before the White House released the United States’ new National Security Strategy in October, President Joe Biden’s administration announced sweeping export restrictions aimed at stopping China from advancing technologically. “The world is changing,” the National Security Strategy observes – and the US is evidently responding by all […]

The Monetary Tightening Trap
Opinions

The Monetary Tightening Trap

Jayati Ghosh NEW DELHI – The Spanish-American philosopher George Santayana famously warned that “those who cannot remember the past are condemned to repeat it.” But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is how the global policy response to the current bout of inflation […]

The Bank of England's Imperfect Intervention
Opinions

The Bank of England’s Imperfect Intervention

Willem H. Buiter and Anne C. Sibert, LONDON – Amid the political turmoil of outgoing British Prime Minister Liz Truss’s short-lived government, the Bank of England has found itself in the fiscal-financial crossfire. Whatever government comes next, it is vital that the BOE learns the right lessons. On September 23, Truss’s government announced a large, unfunded fiscal-stimulus […]

Fixing the Food Trade
Agribusiness Opinions

Fixing the Food Trade

Ngozi Okonjo-Iweala, GENEVA – Between rising hunger and the prospect of still more supply shortages, dark clouds are hovering over the global food system. Not only has the war in Ukraine limited access to, and raised prices for, food and fertilizer, but extreme weather events are disrupting production, and economic downturns have diminished people’s ability to afford adequate and […]

Down Goes the Yen
Opinions

Down Goes the Yen

Takatoshi Ito, TOKYO – On September 22, Japan’s government purchased yen on the foreign-exchange market for the first time since 1998. The finance ministry was attempting to stem the yen’s rapid slide, and for a while, the $20 billion intervention seemed to be working: the yen’s value rose from nearly ¥146 per US dollar to slightly less than […]