Russian aggression and American wavering reveal just how ill-equipped the continent is
Russia is becoming more dangerous, America is less reliable and Europe remains unprepared. The problem is simply put, but the scale of its solution is hard to comprehend. The security arrangements based on nato that emerged from the second world war—and have prevented a third—are so much part of Europe’s fabric that remaking them will be an immense task. European leaders urgently need to jettison their post-Soviet complacency. That means raising defence spending to a level not seen in decades, restoring Europe’s neglected military traditions, restructuring its arms industries and preparing for a possible war. The work has barely begun.
The Economist Magazine (February 10, 2024): The latest issue features ‘The Right Goes GAGA’ – Meet the Global Anti-Globalist Alliance’; Goodbye to the racial jobs gap; San Francisco’s comeback; China’s chipmaking plan; The looming hell in Rafah….
Commentary Magazine (February 10, 2024) – The latest issue features ‘Power Broke Her’ – The Rise and (Maybe) Fall of Lina Khan; The ‘As A Jew’: A Brief History; What Putin and Xi have in Common; Hostages – What Price is Too High?; On Joan Didion and more…
Lina Khan was pleased with her progress. Appearing before the Economic Club of New York in July 2023, she outlined her vision as the chairman of the Federal Trade Commission under Joe Biden and its success so far. Never mind the fact that, just days earlier, a federal court had delivered her agency yet another high-profile setback.
The magazine Popular Mechanics, where I once worked, used to have a column called “Saturday Mechanic.” It was a guide to basic car repair for the weekend tinkerer, and its author had decades of experience both in fixing cars and writing about them. Nonetheless, for each column, he would perform the task in question, carefully documenting each step with photographs. It was a lot of work, in other words.
The Economist Magazine (January 12, 2024): The latest issue features ‘China’s EV Onslaught’ – An influx of Chinese cars is terrifying the West; Europe’s Silicon Valley; ‘America Fights Back’ – The new contest for sea power; Why Olaf Scholz is no Angela Merkel – Germany is unable and unwilling to lead Europe; What science says about old leaders…
The Economist Magazine (January 4, 2024): The latest issue features‘The man supposed to stop Donald Trump is an unpopular 81-year-old; Israel-Hizbullah – Can war be avoided?; The stakes in Taiwan’s election; An interview with Volodymyr Zelensky; The surge in AI nationalism…
Houthi attacks on Red Sea shipping threaten global trade
For the world to prosper, ships must reach their ports. They are most vulnerable when passing through narrow passages, such as the Strait of Malacca or the Panama Canal. So a recent surge of attacks on vessels in the Red Sea, the only southern conduit into the Suez Canal, poses a grave threat to global trade. The Houthis, militants in Yemen backed by Iran, have fired over 100 drones and missiles at ships linked to more than 35 countries, ostensibly in support of the Palestinians. Their campaign is an affront to the principle of freedom of navigation, which is already at risk from the Black Sea to the South China Sea. America and its allies must deal firmly with it—without escalating the conflict in the Middle East.
Spare a thought for economists. Last Christmas they were an unusually pessimistic lot: the growth they expected in America over the next calendar year was the fourth-lowest in 55 years of fourth-quarter surveys. Many expected recession; The Economist added to the prognostications of doom and gloom. This year economists must swap figgy pudding for humble pie, because America has probably grown by an above-trend 3%—about the same as in boomy 2005. Adding to the impression of befuddlement, most analysts were caught out on December 13th by a doveish turn by the Federal Reserve, which sent them scrambling to rewrite their outlooks for the new year.
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