Michael Spence argues that continued U.S. debt ceiling brinkmanship will reinforce perceptions that American politics are helplessly parochial, encourage other nations to diversify away from holding U.S. sovereign debt, and accelerate the decline of America's global economic influence.
Because a binding U.S. debt ceiling creates constitutional contradictions that cannot be resolved in a non-destructive way, Martin Wolf writes that the debt ceiling is too dangerous a law to remain on the books.
"For the last fiftyyears, Washington has assumed the scientific dominance of the US. This assumption is now in question as scientific capabilities become more widely distributed," especially to China, writes Adam Segal.
"Despite all the similarities to the 1990s Asian financial crisis, and the worries from investors, analysts, and international institutions, a repeat of the 1990s is very unlikely," writes Joshua Kurlantzick.
Peter Orszag writes that new research finds hospitals with better heart attack patient survival rates are rewarded with greater market share, which suggests competitive forces are allocating patients to the most productive hospitals.
The author examines Pakistan's complex role in U.S. foreign policy and advocates for a two-pronged approach that works to quarantine threats while integrating Pakistan into the broader U.S. agenda in Asia.