The drunk schmoe theory of the financial meltdown

Over the last few years, Washington has prioritized relocating manufacturing production back to the United States. Critics abroad argue that America’s new industrial policy is protectionis...Show moret and fosters unfair competition. Economist Adam Posen goes a step further. He says the problem with U.S. policy isn’t just that it channels zero-sum thinking but that it is destined to backfire on a number of its goals, from job creation to innovation and decarbonization. Posen argues that for U.S. industrial policy to be successful and resilient, it needs to be barrier free. How and why? Subscribers are encouraged to send in their questions. Posen will discuss his FP cover essay in a conversation with FP’s editor in chief, Ravi Agrawal.

Russia has gone from one mobilization to the next, burning through equipment and ammunition faster than it can replace it—even resorting to the recruitment of prisoners to fight its drawn-...Show moreout war in Ukraine. Meanwhile, Kyiv has received a major infusion of military aid from the West in the last three months. What are its chances of success in a forthcoming offensive? Join FP’s Ravi Agrawal for a discussion with James Stavridis, a retired four-star U.S. Navy admiral and NATO supreme allied commander. Tune in for a wide-ranging discussion on Russia and Ukraine’s military options; the respective roles of Europe, the United States, and China; and more.

Every year, the top Chinese legislative and advisory bodies meet for two weeks to rubber-stamp decisions already made by the Chinese Communist Party. It’s called the “two sessions,” an...Show mored it began on March 4. This year’s meeting was the first since the end of zero-COVID restrictions, and was also an opportunity to get an inside look into the Chinese leadership’s fears and priorities.  The meetings came to a close just before Chinese president Xi Jinping met face-to-face with Russian president Vladimir Putin. How strong is the relationship between Beijing and Moscow?  And, beyond the headlines, what can the world expect from the “two sessions” convening? What will it mean for China’s economy, defense budget, and foreign policy? Join FP’s Ravi Agrawal in conversation with a panel of China experts as they decipher the news from Beijing: Ryan Hass is the former China director at the National Security Council under President Barack Obama and a senior fellow at the Brookings Institution, Zongyuan Zoe Liu is an FP columnist and fellow for international political economy at the Council on Foreign Relations, and James Palmer is a deputy editor at Foreign Policy and the author of the magazine’s China Brief newsletter.