George Soros: Spain Is Leading the Way on Perpetual Bonds

The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( APRIL 26, 2020 This week at [Project Syndicate]( Chris Patten argues that cautious cooperation with China will remain indispensable after the COVID-19 crisis; George Soros praises the Spanish government's proposal of European perpetual bonds to mitigate the pandemic’s economic fallout; Joseph E. Stiglitz, Arjun Jayadev, and Achal Prabhala warn that profit-driven, monopoly suppliers of life-saving drugs and vaccines will be the death of us; and more. Join the conversation. Politics & World Affairs [Dealing with China After COVID-19]( [Chris Patten]( argues that preventing similar disasters requires persuading the communist regime to work with the West. Economics & Finance [Spain Is Leading the Way on Perpetual Bonds]( [George Soros]( lauds the country's proposal for financing the EU's economic recovery from the COVID-19 crisis. Health & Development [Patents vs. the Pandemic]( [Joseph E. Stiglitz]( [Arjun Jayadev]( and [Achal Prabhala]( show why the intellectual-property regime for life-saving drugs should not survive the COVID-19 crisis. Economics & Finance [Solidarity Is Not What Europe Needs]( [Yanis Varoufakis]( points out that mutualizing EU countries' debts cannot be based on the benevolence of those with surpluses. [What the Stock Market Is Really Saying]( On Point [What the Stock Market Is Really Saying]( [Larry Hatheway]( and [Alexander Friedman]( demystify US equities' price movements since the onset of the pandemic. Health & Development [The Chinese Health Organization?]( [Brahma Chellaney]( takes the WHO's director-general to task for his deference to China throughout the COVID-19 crisis. Economics & Finance [Protectionism Is No Cure for Pandemics]( [Amina Mohamed]( explains why freer trade is crucial to helping poorer African countries combat COVID-19 and other health crises. [The China Blame Game]( Big Picture [The China Blame Game]( PS commentators assess the prospects for stronger international cooperation to combat the COVID-19 pandemic. Economics & Finance [Monetary Finance Is Here]( [Adair Turner]( argues that central banks can permanently fund pandemic-induced fiscal deficits, though they may not admit it. Politics & World Affairs [Shelter from the Middle East’s Perfect Storm]( [Bassem Awadallah]( and [Adeel Malik]( show why the Arab world must abandon old models, overcome internal discord, and forge a new regional order. [Say More: Jim O'Neill]( Say More Interview [J]( O'Neill]( urges leaders not to waste the COVID-19 crisis, expresses hope for the future of stakeholder capitalism, and recommends an uplifting read for these trying times. Health & Development [Target R and Wait for the Vaccine]( [Ricardo Hausmann]( urges policymakers to establish a goal for the COVID-19 infection rate and set lockdown policies accordingly. Economics & Finance [The Trade Cure for the Global Economy]( [Victor K. Fung]( argues that an open multilateral system is vital to cope with the COVID-19 crisis and build a better future. Support High-Quality Commentary For more than 25 years, Project Syndicate has been guided by a simple credo: All people deserve access to a broad range of views by the world’s foremost leaders and thinkers on the issues, events, and forces shaping their lives. As the COVID-19 pandemic escalates, and its effects reverberate around the world, that mission is more important than ever – and we remain committed to fulfilling it. But there is no doubt that the intensifying crisis puts us, like so many other organizations, under growing strain. If you are in a position to support us, please [subscribe now](. As a subscriber, you will enjoy unlimited access to our On Point suite of long reads and book reviews, Say More contributor interviews, The Year Ahead magazine, the full PS archive, and more. You will also directly support our mission of delivering the highest-quality commentary on the world’s most pressing issues – including the latest outbreak-related developments – to as wide an audience as possible. By helping us to build a truly open world of ideas, every PS subscriber makes a real difference. Thank you. [SUBSCRIBE NOW]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.