Don’t blame China for America’s decline

Two things seem certain in modern presidential campaigns: Candidates will spend more time attacking each other than offering constructive alternatives, and one or both will attack China.In 1992, Bill Clinton accused President George H.W. Bush of coddling Chinese dictators. In 2004, John F. Kerry assailed “Benedict Arnold CEOs,” and by extension their allies in President George W. Bush’s administration, for shipping jobs to China.

Read More

Italy’s Troubles Are Not the Tipping Point for Global Economic Collapse

Just as the Roman Empire supplanted Greece as the center of the ancient world, so too is the rapidly escalating Italian economic crisis pushing the Greek economic crisis to the side. Italy is a much larger economy—at more than $2 trillion in annual output, it is the eighth-largest economy in the world.

Read More