Comment

There are three main reasons for Russia’s economic stagnation: Putin’s authoritarian kleptocracy above all, then oil prices and Western financial sanctions. A column by Anders Åslund.

The key question is whether we can be confident that the state of exception will end. If we can identify that moment, we need not worry about inflation. By Harold James, Markus Brunnermeier, and Jean-Pierre Landau.

It is even possible that a year from now, central banks will be seriously considering deeply negative interest rates in order to rekindle inflation and demand. A column by Kenneth Rogoff.

Recent trends in US consumer spending suggest that the natural forces of pent-up demand may largely be spent. A column by Stephen S. Roach.

Italy’s new prime minister Mario Draghi should become one of the EU’s core leaders, along with president Macron and chancellor Merkel. A column by Melvyn Krauss.

Both countries could begin to reset relations with an agreement to restore the WTO’s dispute-settlement role through US approval of new Appellate Body judges. A column by Anne O. Krueger.

The fundamental laws of economics have not been repealed. Profligate government spending invariably has damaging consequences. A column by John B. Taylor.

Only a transformative vision of a generally healthier society can help us overcome today’s dismal reality. A column by Harold James.

If European companies do not perceive any improvement, and China makes no progress on labor standards, the CAI might come to be viewed as another empty gesture. A column by Daniel Gros.

The Russian authorities think that, by sending Alexei Navalny to prison, they have quelled his influence. But they have achieved the opposite result. A column by Andrei Kolesnikov.

There is no recipe for remedying Italy’s political crisis, and no one should expect Mario Draghi to provide one. A technocratic government needs to be effective and short-lived. A column by Paola Subacchi.

The only way to prevent a new round of deterioration in US-China relations is for either Biden or Xi to take the first concrete step signaling willingness to cooperate. A column by Minxin Pei.