[Mark Weisbrot] Wild inflation? Not anymore

Do Americans understand what is happening with inflation in this country? This is an important question, because the public’s perception can influence national policy and political choices. Before the midterm elections one month ago, 87 percent of likely voters told pollsters that inflation was extremely or very important in deciding their vote. Let’s take a simple example of what most Americans see most in the news, and compare this with the data that economists, and journalists who

Dec. 19, 2022

[Robert J. Fouser] South Korea’s resiliency in 2022 begins to fray

The biggest news story of 2022 was, without question, the Russian invasion of Ukraine in February. The war is the most severe conflict in Europe since 1945 and has raised tensions between nuclear-armed NATO and Russia to the highest level since the Cold War. The next biggest news story was the return of inflation in much of the world. Rising prices have pinched family budgets and caused labor and social unrest. To tame inflation, central banks have raised interest rates rapidly, which has added

Dec. 16, 2022

[Serendipity] Young pianist opens up new universe

He was as bold as he is young. Pianist Lim Yun-chan, shorn of his heavy, wavy mane, walked onto the stage at Seoul Arts Center Concert Hall Saturday, his stride confident, his first step a loud thump. He sat himself in front of the piano and, without a second’s hesitation, hit the first note of Orlando Gibbons' “Lord Salisbury,” Pavan and Galliard. Lim, who, at 18, became the youngest ever winner at the prestigious Van Cliburn International Piano Competition in June began

Dec. 15, 2022

[Allison Schrager] The perils of superstar culture in industries

One of the reasons the public is obsessed with Harry and Meghan is that they represent an important economic trend that resonates well beyond the British royal family: the rising tension between individual branding and the power and prestige of being part of an institution. And it’s not just the royals; it’s an issue for all industries. In the past, if money and security and status were what you craved, your path was clear: You got a job at the most prestigious institution you could

Dec. 15, 2022

[Trudy Rubin] US, China at Chip War involving Taiwan

Most Americans are unaware that the United States is already fighting a war with China that involves Taiwan. This war isn't yet being fought with weapons. Instead, it is a battle to control the world's most critical technology: the design and production of microchips -- on which virtually everything in our modern world depends. From microwaves to smartphones to cars, from the stock market to missiles -- our economy and military run on the tiny silicon chips that power computer systems.

Dec. 15, 2022

[Doyle McManus] US policy makes Ukraine fight by rules Russia doesn’t follow

Last week, Ukraine pulled off an audacious military feat: three drone strikes deep inside Russia, one against a target less than 240 kilometers from Moscow. The drones attacked bases from which Russia has launched airstrikes against Ukraine’s cities, electricity grid and other infrastructure. It’s not clear that they caused major damage; at least two airplanes were struck, and a fuel storage tank was set ablaze. But they revealed a surprising weakness in Russia’s air defenses

Dec. 14, 2022

[Kim Seong-kon] Of soccer fields and political arenas

Soccer is undoubtedly the most popular sport among Koreans. Whenever World Cup season comes, many Koreans burn the midnight oil to watch the games with the Taeguk Warriors. Whenever a Korean player succeeds in a “goal-in,” shouts of joy burst out here and there from across apartment complexes in the middle of the night. At the ongoing World Cup in Qatar this year, the South Korean national soccer team did not fail the Korean people once again and performed quite well, reaching the ro

Dec. 14, 2022

[Faye Flam] Let's leave 'zombie viruses' under permafrost

Vast stretches of permafrost are melting as the Earth’s polar regions warm, thawing ancient viruses and bacteria that had remained frozen for tens of thousands of years. Behind the lurid headlines about “zombie viruses,” there’s some fascinating science -- and a warning. Last month, scientists announced they’d taken a sample of tundra from Siberia, extracted a virus that had been frozen for 50,000 years, and showed it was still capable of infecting its normal host

Dec. 13, 2022

[Stephen L. Carter] Fair points about Griner's release

We can all rejoice at the news that Russia has freed basketball star Brittney Griner. Griner was detained at a Moscow airport in February, after officials found in her luggage 19 grams of hashish oil, for which she had a doctor’s note. She was later convicted of possession and smuggling, and sentenced to nine years in prison and sent to a penal colony. That she’s on the way home is wonderful, even if the price was the release of the egregious arms dealer Viktor Bout. Here are four

Dec. 13, 2022

[Joseph E. Stiglitz] All pain and no gain from higher interest rates

Central banks’ unwavering determination to increase interest rates is truly remarkable. In the name of taming inflation, they have deliberately set themselves on a path to cause a recession -- or to worsen it if it comes anyway. Moreover, they openly acknowledge the pain their policies will cause, even if they don’t emphasize that it is the poor and marginalized, not their friends on Wall Street, who will bear the brunt of it. And in the United States, this pain will disproportiona

Dec. 12, 2022

[Kishore Mahbubani] The hard-won benefits of soft diplomacy

The world seems like a calmer place after the G-20 meeting in Bali in mid-November. The question is why. We know that US President Joe Biden and Chinese President Xi Jinping held a three-hour in-person meeting that went well, despite their many policy differences and their countries’ growing antagonism. It was also helpful that Russian President Vladimir Putin didn’t show up, and that Russia’s war in Ukraine didn’t overshadow the Sino-American discussions. In fact, the

Dec. 12, 2022

[Dan DePetris] G-7′s price cap gamble on Russian oil

The United States and its allies in Europe have spent the last 10 months turning the screws on the Russian economy in retaliation for Vladimir Putin’s war on Ukraine. The Western coalition blocked Russia from accessing around half of its more than $600 billion in foreign reserves, disconnected multiple Russian banks from the global financial system, diversified away from Russian natural gas and banned the import of Russian coal. Now, Russian crude oil is being targeted. For the foreseeable

Dec. 9, 2022

[Lee Kyong-hee] President Yoon’s futile war on the press

President Yoon Suk-yeol’s pushback against the news media is unproductive. Tough media questions accompany the job of leading a democratic state. State leaders cannot muzzle reporters or throw them in prison like a dictator. Nor should they think the silent treatment will work. Questions will only continue and likely sharpen the more a leader hunkers down. During and after his recent diplomatic trips, Yoon resorted to less access and information for the media. If that modus operandi cont

Dec. 8, 2022

[Shang-Jin Wei] Life, liberty and lost output

The anti-quarantine protests that erupted across China last month highlight the gulf between the Chinese people and Communist Party leaders regarding the necessity of the strict zero-COVID policy. Given the obvious disconnect, it is worth examining how and why the authorities and the public have grown so far apart in their assessment of the policy’s costs and benefits. One important difference seems to be the value that the two sides assign to liberty. While the public may prioritize fre

Dec. 8, 2022

[Doyle McManus] Iran protests displace nuclear issue

After more than a decade of US policy focused on preventing Iran from acquiring nuclear weapons, arms negotiations have been shoved off center stage. The long-running dispute over nuclear weapons has been displaced by a more immediate drama -- the rapidly spreading uprising against the Iranian regime. "Our focus every day, and the world's focus, is what's happening in the streets of Iran," Secretary of State Antony J. Blinken said last week. "We support what Iranians a

Dec. 7, 2022

[Kim Seong-kon] Standing between K-pop and K-plague

These days, Korean pop culture, from K-pop, to K-film to K-food, enjoys fame and popularity all over the world. The Korean people are proud of the phenomenon and greatly elated when foreign columnists remark that the popularity of Korean pop culture seems to have replaced that of American and British pop culture, which enchanted the world in the past. Foreigners who live in South Korea also applaud K-medical service and K-speed. When you need medical treatment or even major surgery, you do not

Dec. 7, 2022

[Martin Schram] Police chiefs dial 911 -- law-and-order pols need to answer

Beneath the still-gleaming white dome, the US Capitol’s new generation of promising leaders are jockeying for position, staking their turf, marking their hydrants and swapping last-minute promises for next year’s power. Today we will mainly be speaking to just one category of our promising new leaders: The ones who want the American populace to know how proud they will be to lead the party of law-and-order. These new congressional leaders are proud to give strong, steadfast support t

Dec. 6, 2022

[Sławomir Sierakowski] Resentment on the western front

Poland is home to about 2.7 million refugees from Ukraine: 1.2 million arrived after 2014, and a further 1.5 million arrived following Russia’s invasion on Feb. 24. By comparison, the United Nations High Commissioner for Refugees reports that Germany has taken in 1 million Ukrainians, the Czech Republic 464,000, and several other countries 200,000 or less. As of mid-October, some 4.7 million Ukrainians had registered for temporary protection outside their country. For their part, Ukrainian

Dec. 6, 2022

[Song Jong-hwan] Buddhism and ways to strengthen S. Korea-Pakistan relations

Buddhism was introduced to Korea through two paths: the ancient Korean kingdoms of Goguryeo and Baekje. In 372, the emperor of Former Qin, a Chinese dynasty, sent an envoy and monk to Goguryeo’s King Sosurim, with Buddhist statues and scriptures. Twelve years later in 384, the monk Marananta, born in Chota Lahore in north Pakistan, crossed the ocean to Baekje via Eastern Jin, another Chinese dynasty, to bring Buddhism to King Chimnyu of Baekje. It is said that when Marananta decided to lea

Dec. 6, 2022