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We Are Hong Kong

With his recent decision to impose a draconian new security law on Hong Kong, Chinese President Xi Jinping has ridden roughshod over the Joint Declaration and directly threatened the city’s freedom. Defenders of liberal democracy must not stand idly by. LONDON – In my final speech as Hong Kong’s governor on June 30, 1997, a few hours before I left the city on Britain’s royal yacht, I remarked that, “Now, Hong Kong...

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Ethiopia’s Unconventional COVID-19 Response

Instead of implementing a national lockdown like most other governments, including in Africa, Ethiopia initiated other essential measures in January, well ahead of most developed countries. And its success so far illustrates how African countries can tackle the pandemic effectively despite tight resource constraints. ADDIS ABABA – To the surprise of many, African governments have responded swiftly and boldly to the...

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The Uncertain Pandemic Consensus

By putting the spotlight on the sector where markets perform the worst – health care – the coronavirus pandemic inevitably prompted a welcome reassessment of the relative roles of markets and the state.The question now is which parts of this emerging consensus will survive the acute phase of the crisis. PARIS – What is the COVID-19 crisis teaching us about the role of the state? And what lasting lessons will our...

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The Limits of Extreme COVID Monetary Policy

Just because the major central banks can continue to introduce increasingly unconventional measures doesn't mean that they should. The current economic crisis demands primarily a fiscal-policy response, whereas extreme monetary policies carry high risks and produce adverse side effects. LONDON – With output having collapsed as a result of the COVID-19 pandemic, many are wondering how far monetary policy can be stretched...

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The Real Economic Opening We Need

Policymakers around the world already recognize that they need to find a way to reopen national economies safely and in accordance with policies to keep the COVID-19 pandemic under control. Yet not nearly enough has been done to encourage new markets that can operate even under conditions of economic lockdown. STANFORD – With governments adopting measures to halt the COVID-induced economic downturn and prepare the way...

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Globalizing the Fight Against the Pandemic

As a global problem that will remain a threat everywhere as long as it is still present anywhere, the novel coronavirus demands a collective and collaborative response. With a new COVID-19 Technology Access Pool to share data and intellectual property, all countries and companies now have a chance to become a part of the solution. SAN JOSÉ – The COVID-19 pandemic began less than six months ago, but we have already...

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China’s Hong Kong Gamble

Add to Bookmarks By ordering China’s rubber-stamp parliament to draft a strict new security law for Hong Kong, President Xi Jinping’s regime has struck its heaviest blow yet against the city, effectively overturning the “one country, two systems” principle that has prevailed since the territory returned...

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The Art of AI

As the world enters a new decade, research and development into artificial intelligence and its many applications are barreling forward, and nowhere more so than in China. Although popular narratives tend to focus on the threats posed by AI, the truth is that many of the technology's dangers have been overhyped, and its promises neglected. A leading figure in the Chinese tech scene and in artificial-intelligence...

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Learning to Live with COVID-19

Leaders in the Brazilian state of Rio Grande do Sul have devised a strategy for living with the virus, based on key indicators, expert consultations, and enforceable processes. And it has done so in full public view. There are lessons here for governments in richer countries that have yet to develop such a plan. OXFORD/PORTO ALEGRE – One of COVID-19’s paradoxes has been the way in which some wealthy, high-capacity...

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Who Has the World’s Largest Economy?

Once again, new economic readings from the World Bank's International Comparison Program have fed into the long-going debate over whether China is surpassing the United States as an economic and financial power. And once again, the answer to that question is a qualified "no." CAMBRIDGE – The World Bank’s International Comparison Program has just released its latest measures of price levels and GDP across 176 countries,...

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