The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
How the Russian Orthodox Church is recruiting for the Ukraine war – and alienating believers
English Summary
The Russian Orthodox Church (ROC) has transitioned into a key recruitment and ideological tool for the Russian state, framing the invasion of Ukraine as a 'holy mission' to justify the conflict. The church utilizes military chaplains as front-line enforcers to prevent desertion while weaponizing 'traditional values' narratives to influence Western conservatives and undermine military aid to Ukraine. This aggressive alignment with the Kremlin is alienating domestic believers and leading to a decline in religious participation within Russia. Consequently, policymakers must recognize the ROC's role as a sophisticated soft-power instrument designed to exploit cultural divisions in the West.
中文摘要
俄羅斯正教會（ROC）已轉型為俄羅斯國家的關鍵招募與意識形態工具，將入侵烏克蘭定性為「神聖使命」以合理化該衝突。該教會利用隨軍牧師作為前線執行者以防止逃兵，同時將「傳統價值觀」敘事武器化，藉此影響西方保守派並削弱對烏克蘭的軍事援助。這種與克里姆林宮的積極結盟正使國內信徒感到疏離，並導致俄羅斯境內的宗教參與度下降。因此，政策制定者必須認識到俄羅斯正教會作為一種精密的軟實力工具，旨在利用西方的文化分歧。
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