Month: August 2022

China Is Winning the Economic Race with the US – The Consequences Will Be Profound

The [Harvard Belfer Center] report, “The Great Economic Rivalry: China Vs. the US,” predicts that at the current rate China will overtake the US economically within a decade.

When it comes to trade, China has now displaced the US. “When this century began, China was knocking on the door of the WTO and the U.S. was the leading trading partner of most major economies. Today, China has overtaken the U.S. to become the largest trading partner for nearly every major nation… by 2018, 130 countries traded more with China than they did with the U.S…..” — The Belfer Report.

Massive Borrowing Puts Nigeria’s Future at Risk

The country’s bloated debt portfolio is the outcome of decades-long economic mismanagement.

Among the many dangers threatening the very foundation of the Nigerian state is the government’s increasing reliance on internal and external borrowing to finance its operations. In recent weeks, various international organizations, private entities, senior government officials, and former government functionaries have decried the Buhari administration’s appetite for borrowing, and warned about the risk to the Nigerian state of allowing the situation to get out of hand. These include the International Monetary Fund (IMF), which projected that “the Nigerian government may spend nearly 100 percent of its revenue on debt servicing by 2026;” the World Bank, which warned that the country’s debt, while seemingly sustainable, is “vulnerable and costly;” and the Nigerian Economic Summit Group (NESG), a body of private sector leaders, which warned against what it saw as the prospect of creating “a debt burden for future governments.”

The Fall of Faucism and the Return of Common Sense

To insist that grown adults lack the ability to make consequential life choices is to insist that they be infantilized for the rest of their lives.

Parents have every right to balance the costs of missed educational opportunities for school-aged children against the risks of illness. American adults are entirely qualified to judge for themselves whether masks, gloves, or full body hazmat suits are necessary for day-to-day existence. And individual Americans are intellectually capable of determining whether they wish to be injected with novel mRNA vaccines. To insist that grown adults lack the ability to make consequential life choices is to insist that they be infantilized for the rest of their lives.

The US Must Ditch Its Incoherent Policy on Taiwan

Russia’s invasion of Ukraine, moreover, provides a timely illustration of what can happen when the West does not take sufficient action to safeguard the security of its allies.

In February, for example, the US approved a $100 million support package to improve the island’s missile defences, which were designed to improve its Patriot missile defence system. But bureaucratic wrangling in Washington means Taipei has still to receive the support it needs.

A Way Out of the Iraqi Impasse

It has been ten months since Iraqis went to the polls, for the fifth general election in the post-Saddam era, and the new parliament has yet to form a government. Drawn-out periods of government formation are nothing new in post-2003 Iraq, but this time around the implications may be more serious than usual. Tensions among the Shiite parties, which together hold the most total parliamentary seats, run so deep, and the rest of the political field is so fragmented, that politicians may be unable to agree on a compromise solution. With populist protesters occupying parliament since late July, observers are even concerned that Iraq may slide back into civil strife. This time, it would be intra-sectarian, unlike the bloody sectarian war that ravaged the country from 2005 to 2008. There are several factors, however, that militate against such an outcome, including that outside powers could re-engage to help Iraqi leaders find a way out of the impasse.

America’s Strategic Oil Reserves

The Biden administration in April sanctioned the sale of our nation’s Strategic Petroleum Reserve to the highest bidder. They have done so under the logic that putting more oil on the global market at a time when Russia has an energy stranglehold on Europe could force down the pump price of gasoline.

America Must Prepare for a War Over Taiwan

Being Ready Is the Best Way to Prevent a Fight With China

Why isn’t the United States doing more to prepare for war with China over Taiwan—precisely to deter and thus avoid it? The visit to Taiwan this month by House Speaker Nancy Pelosi and Beijing’s dramatic response to it have crystallized the gravity of this issue. A war with China over Taiwan has gone from what many regarded as a remote scenario to a fearfully plausible one.