WORLD ROUNDUPShould the U.S. Pledge to Defend Taiwan? | Who Owns “Conservative Statecraft”? | Old Terrorist Dies, and more
··Russia’s Road to Economic Ruin
The long-term costs of the Ukraine war will be staggering
··The Return of Red China
Xi Jinping brings back Marxism
··The Battle for Who Owns “Conservative Statecraft”
Debating what is a truly conservative foreign policy for the U.S.
··China vs the West: A Contest That Will Hurt Africa’s Future
Africa’s development depends on global rapprochement
··Teenager Accused of London Terror Attack Plot Was Obsessed with Call of Duty, Court Hears
The 15-year-old described spending nine or 10 hours a day playing video games
··Former German Extremist Klein Dies in France
A Follower of Carlos the Jackal took part in 1975 attack on OPEC HQ
··Should the United States Pledge to Defend Taiwan?
Foreign Affairs asks the experts
Russia’s Road to Economic Ruin (Konstantin Sonin, Foreign Affairs)
After Russia’s invasion of Ukraine in February, the Russian economy seemed destined for a nosedive. International sanctions threatened to strangle the economy, leading to a plunge in the value of the ruble and Russian financial markets. Everyday Russians appeared poised for privation.
More than eight months into the war, this scenario has not come to pass. Indeed, some data suggest that the opposite is true, and the Russian economy is doing fine. The ruble has strengthened against the dollar, and although Russian GDP has shrunk, the contraction may well be limited to less than three percent in 2022.
Look behind the moderate GDP contraction and inflation figures, however, and it becomes evident that the damage is in fact severe: the Russian economy is destined for a long period of stagnation. The state was already interfering in the private sector before the war. That tendency has become only more pronounced, and it threatens to further stifle innovation and market efficiency. The only way to preserve the viability of the Russian economy is either through major reforms—which are not in the offing—or an institutional disruption similar to the one that occurred with the fall of the Soviet Union.
The Return of Red China (Kevin Rudd, Foreign Affairs)
In 1978, Chinese leader Deng Xiaoping announced that his country would make a break with the past. After decades of political purges, economic autarky, and suffocating social control under Mao Zedong, Deng began stabilizing Chinese politics, removing bans on private enterprise and foreign investment and giving individuals greater freedom in their daily lives. This switch, termed “reform and opening,” led to pragmatic policies that improved Beijing’s relations with the West and lifted hundreds of millions of Chinese people from poverty. Although China remained authoritarian, Deng shared power with other senior party leaders—unlike Mao. And when Deng left office, his successors continued down much the same path. (Cont.)
