With the rapid growth of coronavirus infections in recent days, and likely for the foreseeable future, the United States finds itself in a grave predicament entirely of its own making. No amount of finger-pointing toward China about its lack of transparency early in the outbreak, or the time lost before Beijing finally alerted others about the nature of its epidemic—although both true—can change this harsh reality. The country that seldom tires of reminding others that it is the richest and most powerful nation in the world has completely squandered whatever lead time it had before the virus took firm hold [...]
Editor’s Note: You can find all of our coverage of the coronavirus pandemic here. If you would like to help support our work, please consider taking advantage of our subscription offer here. In 1873, Walter Bagehot, a prominent businessman in British high society and a journalist who served for 16 years as editor-in-chief of The Economist, wrote a treatise on banking and finance in which he left his most enduring mark on the world. In “Lombard Street: A Description of the Money Market,” he laid out a playbook for policymakers facing an unfolding economic and financial crisis. When up against [...]
Tensions have simmered for decades between Brazil, which believes the Amazon rainforest is a sovereign resource, and wealthy developed countries concerned with protecting one of the world’s most important carbon sinks. But it wasn’t until last summer that, amid growing international concern over climate change, deforestation in the Amazon provoked a high-level diplomatic spat. As fires raged in the Amazon, most of them set by farmers and ranchers to clear land, French President Emmanuel Macron proclaimed the issue was an international crisis and said he would put it on the agenda of the G-7 summit in Biarritz. German Chancellor Angela [...]
