North America
The three countries that cover almost 90 percent of North America – the United States, Canada and Mexico – are economically very closely intertwined. The U.S. has the dominant position. It is the world’s largest economy and strongest military power. Shielded by oceans to the east and west, it projects influence globally. The continent is so rich in natural resources that it is practically self-sufficient.
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The self-deception of Western societies
Self-deception and dogmatism leading countries to their doom is nothing new. Historically, such a tendency among the ruling elites has led to major disruptions. As the ill-conceived climate policies and public overspending demonstrate in our time, democracies can be rigged to fall into this trap as well
The energy transition: Some inconvenient truths
Fossil fuels, particularly natural gas, should be integrated into the transition to a cleaner energy future. Otherwise, the ambitious climate targets promoted in the richer world will only be virtue signaling.
Recovery economics: Optimism or overheating?
Economists Larry Summers and Olivier Blanchard have long urged governments to engage in more stimulus but now have become critical of President Biden's spending plans. Though they are right that economic overheating and higher interest rates would be disastrous, at least the U.S. has an optimistic outlook – something that ...
Managing China: Scenarios for U.S.-Europe cooperation
The West has awakened to the challenge from China, but how far will it go in coordinating its response to Beijing’s combative policies? This depends on a reconciliation of diverging priorities of the leading Western countries.
Biden’s immigration policies: The impact on U.S. politics
The new administration has done an about-face on immigration compared with its predecessor. As if on cue, illegal immigration and asylum applications have rocketed. So far, the president shows no sign of changing course, but as the public wearies of the problems illegal immigration causes, President Biden could find himself ...
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