When it comes to China and Taiwan, the West should take a page out of its Ukraine playbook – don’t fight, but provide arms

The game-theorists are furiously at work, mapping out decision-trees to assess what might happen if China invades Taiwan. Tension is rising. As Xi Jinping’s rhetoric grows bellicose, he gives every indication he’ll define his tenure by the reintegration, if needed by force, of the renegade province into the rest of China. But after more than…

The new global inflation regime

Early in November, the monthly inflation report from the US Bureau of Labor Standards took markets by surprise. Not only had the inflation rate in the American economy fallen more than expected, but the underlying core rate fell even more. As the stock market surged and bond yields plunged, the leading lights of the economics…