Wednesday , September 23 2020
Home / Project Syndicate (page 10)

Project Syndicate

The COVID Comorbidity Crisis

Evidence of heart complications in survivors of COVID-19 raises significant concerns about the lasting impact of the pandemic. Not only does the prevalence of non-communicable diseases increase the risks associated with the virus, but the virus apparently is adding to the global burden of NCDs. ABUJA – Growing evidence shows that COVID-19 survivors can suffer from long-term health effects, not least heart-related...

Read More »

How Better Climate Data Can Help the Municipal Market

Climate risks pose a potential threat to the creditworthiness of many debt issuers – particularly in the $3.8 trillion US municipal bond market. Scenario analysis based on standardized climate models can help to clarify the impact of global warming on credit risks and investors’ confidence. LONDON – The COVID-19 pandemic has heightened awareness of the possibility of “green swan” events and the opportunities for greater...

Read More »

How the Pandemic Can Revolutionize Climate Policy

Policymakers should not throw up their hands in despair because climate policy is too complicated. Rather, they need to look beyond mainstream economics and engage with people who understand complex systems, in the same way that they listen to epidemiologists and doctors during a pandemic. AMSTERDAM – Economists have long dominated climate-policy debates, but have scant results to show for it. As with the ongoing global...

Read More »

Saving Liberal Democracy

Advocates of free and open societies must not only stand up to assaults on their values by Chinese President Xi Jinping and other like-minded leaders. They also must show that they still believe in liberal democracy themselves. LONDON – I belong to a fortunate generation. Born in the United Kingdom in 1944, toward the end of a world war that killed between 70 million and 85 million people, I have neither been bombed nor...

Read More »

Minimizing the Social Cost of COVID-19

Efforts to turn an effective institutional response to the pandemic into a political or ideological battleground are misguided, at best. As the late Nobel laureate Ronald H. Coase showed, regardless of ideology or politics, each society must develop institutional arrangements that constrain individual freedom. HONG KONG – In 1960, the Nobel laureate economist Ronald H. Coase introduced the “problem of social cost”:...

Read More »

The Global Risk of the US Election

Never before has a US presidential election posed such a grave potential threat to the peace, prosperity, and stability of the rest of the world. A crisis following a disputed result in November would be a disaster, and it would come just when the world urgently needs to address an array of shared problems. BERLIN – Unlike in Jules Verne’s Around the World in 80 Days, the modern world’s journey over the next 80 days...

Read More »

Why All Countries Should Contribute to Ending Global Poverty

In 1969, richer countries agreed to commit 0.7% of their gross national income to international development aid. The world has changed since then, and a new era calls for a fresh approach to poverty eradication, involving a scaled financial commitment from all countries. LONDON – Trillions of dollars have already been spent on the global response to the COVID-19 pandemic, and no one knows what the final bill will be. Is...

Read More »

China’s Digital Currency Will Rise but Not Rule

China’s new digital currency and its cross-border payments system will together enhance the renminbi’s role as an international payments currency if the government continues to reform the country’s financial markets and remove restrictions on capital flows. But they will hardly put a dent in the dollar’s status as the dominant global reserve currency. ITHACA – A few years ago, China’s currency seemed to be rising...

Read More »

America’s Coming Double Dip

Soaring financial markets are blithely indifferent to lingering vulnerabilities in the US economy. But the impact of consumers' fear of COVID-19 on pandemic-sensitive services are unlikely to subside, undermining the case for the uninterrupted recovery that investors seem to expect. NEW HAVEN – The double dip is not a dance. It is the time-honored tendency of the US economy to relapse into recession after a temporary...

Read More »

Belarus Is Putin’s to Lose

Each new day of protests works against Russia’s long-term interests in Belarus, and fuels distrust and hostility toward the Kremlin. Russian President Vladimir Putin should openly express solidarity with Belarusian society instead of cautiously supporting President Alexander Lukashenko. MINSK/MOSCOW – Huge protests have swept Belarus since Aleksandr Lukashenko fraudulently claimed to have won 80% of the vote in the...

Read More »