Economics

Chinese President Xi Jinping leaves after making a toast during a welcome banquet for the Belt and Road Forum at the Great Hall of the People in Beijing on May 14, 2017. Wu Hong/Getty Images

China Is a Declining Power—and That’s the Problem

The United States needs to prepare for a major war, not because its rival is rising but because of the opposite.

Christian Lindner, head of the Free Democratic Party (FDP) arrives for a press conference the day after elections in the eastern German states of Brandenburg and Saxony on September 2, 2019 in Berlin.

The Next Big Player in the Global Economy Is Christian Lindner

Three Germans are running to replace Angela Merkel—but it's someone else who might end up with the most influence.

Iranian President Ebrahim Raisi remotely addresses the U.N.

Separate the Iran Deal From Regional Security Negotiations

U.S. allies have already taken the initiative on regional issues. Insisting on a package deal could permanently derail nuclear talks.

Mario Draghi and Emmanuel Macron speak during an EU summit.

Europe Is Fighting Over Its Fiscal Future

France and Italy want to fend off the frugals and make COVID-19-era budget flexibility a feature, not a bug.

A Chivo Wallet Bitcoin ATM burns in San Salvador.

El Salvador’s Bitcoin Law Is a Farce

The system doesn’t work, the currency crashed, and the public hates it.

Commuters wait in line for public buses.

China’s Social Credit System Is Actually Quite Boring

A supposedly Orwellian system is fragmented, localized, and mostly targeted at businesses.

Patrons sit at a sidewalk cafe in Lisbon.

Portugal’s Sardine Capitalism Is a Model for the World

Lisbon’s macroeconomic model could show other small countries the path to recovery.

Antony Blinken, U.S. secretary of state, speaks with Representative Gregory Meeks, a Democrat from New York, and chairman of the House Foreign Affairs Committee, after the conclusion of a House Foreign Affairs Committee hearing in Washington, D.C., U.S., on Wednesday, March 10, 2021.

U.S. Congress Weighs Sanctions on Myanmar’s Oil and Gas

The legislation could also force a ruling on whether the military junta committed genocide against the Rohingya.

Traffic gridlock in Abuja, Nigeria

Poor People Weren’t Part of the Plan for Abuja

In Nigeria’s carefully designed capital, urban enforcers harass ordinary citizens.

Afghan money-changers count Pakistani rupees at the money exchange market in Kabul.

Afghanistan’s Money Exchangers Are the Economy’s Last Best Hope

As many banks are forced to close, an informal network of money exchangers provides an indispensable service.

Afghan security officers stand in front of a U.N. vehicle.

U.N. Return to Afghanistan: ‘This Is Completely Insane’

A month ago, the United Nations was pulling its staff out of Afghanistan. Now, it’s headed back in to avert a major humanitarian crisis.

Afghan schoolchildren study at a destroyed high school.

Biden’s Conundrum: How to Pressure the Taliban Without Hurting Afghans

After 20 years of building up Afghanistan, can the United States really cut the country off now?

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