The China-Russia partnership is a highly consequential geopolitical alignment driven by a shared goal of countering U.S. hegemony and reshaping the international order into a multipolar system. While not a formal alliance, this relationship is strengthened by Russia's increasing economic reliance on China following Western sanctions, which allows Beijing to leverage its influence. Policymakers should note that while the partnership projects deep solidarity (as seen in high-level summits), it remains complex and limited by mutual mistrust and competing strategic interests. This enduring alignment poses a significant challenge to U.S. interests and requires continued diplomatic vigilance.
The Powell years at the Fed: A retrospective
English Summary
This retrospective analysis of the Powell years aims to critically evaluate the Federal Reserve's performance and resilience during a period marked by extreme economic volatility and political pressure. The discussion will center on the Fed's monetary policy track record, specifically analyzing its response to post-COVID inflation and its efforts to maintain financial stability. Key findings are expected to provide critical lessons on the necessary balance between aggressive monetary action, preserving institutional independence, and mitigating systemic risk. Ultimately, the analysis offers strategic insights into the structural challenges facing U.S. economic policy and the Fed's future mandate.
中文摘要
這份關於鮑威爾任期的回顧性分析，旨在批判性地評估聯準會（Federal Reserve）在經歷極端經濟波動和政治壓力期間的表現與韌性。討論將聚焦於聯準會的貨幣政策歷程，特別分析其對疫情後通膨的應對，以及維持金融穩定的努力。預計的關鍵發現將提供關於激進貨幣行動、維護制度獨立性，以及減緩系統性風險之間必要平衡的批判性教訓。最終，本分析將為美國經濟政策面臨的結構性挑戰，以及聯準會的未來職責範圍提供策略性洞察。
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