Nina L. Khrushcheva: Russian Muppets or American Puppets?

with Richard Haass, Angus Deaton, Nancy Qian, Joseph S. Nye, Jr., and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( JANUARY 8, 2023 This week at [Project Syndicate]( Kenneth Rogoff explains why a global recession that does not lead to a full-blown financial crisis might be the best outcome we can hope for this year; John Mark Hansen warns that Kevin McCarthy’s election as US House Speaker will carry high costs; Nina L. Khrushcheva whether Russia would be different today if more Americans had understood what the team that took "Sesame Street" to the country in the 1990s did; and more. Economics & Finance [The Looming Financial Contagion]( [Kenneth Rogoff]( explains why aggressive monetary tightening might exacerbate the coming economic downturn. Politics & World Affairs [What Price McCarthy?]( [John Mark Hansen]( sees the stalemate in the US House of Representatives as a bad omen for both the GOP and the country. [PS Global Bookmark: China’s New Direction]( [China’s New Direction]( [Paola Subacchi]( considers the implications of a systemically important country turning its back on the system. Culture & Society [Russian Muppets or American Puppets?]( [Nina L. Khrushcheva]( considers the successes and failures of Sesame Street’s 15-year run in a country the US still misunderstands. Politics & World Affairs [What in the World Will Happen in 2023?]( [Richard Haass]( thinks Japan’s emergence as a geopolitical player and Iran’s meltdown will dominate headlines this year. [PS. Subscribe now to secure your copy of PS Quarterly: The Year Ahead 2023]( Politics & World Affairs [Peak China?]( [Joseph S. Nye, Jr.]( considers the country’s long-term prospects of competing with America following its latest stumbles. Economics & Finance [America’s New Era of Industrial Policy]( [Laura Tyson]( and [Lenny Mendonca]( assess the scope and design of the Biden administration’s big push into supply-side investment. [PS Big Picture: The Sick Man of Asia]( [The Sick Man of Asia]( PS commentators assess China’s prospects as COVID infections surge. Smart Development [China’s Brutal COVID Winter]( [Nancy Qian]( identifies the social and economic factors that are hampering basic infection-control efforts. Economics & Finance [Secular Stagnation, Not Secular Stagflation]( [Willem H. Buiter]( thinks it remains well within monetary policymakers' power to rein in price growth, if not boost GDP growth. [PS Quarterly: Is Economic Failure an Economics Failure?]( [Is Economic Failure an Economics Failure?]( [Angus Deaton]( considers the discipline’s responsibility for contemporary social and political ills. Politics & World Affairs [The Next Stage of the Hot Cold War]( [Simon Johnson]( argues that Western countries must begin focusing more intently in 2023 on reducing demand for fossil fuels. Economics & Finance [Can China Save Its Economic Miracle?]( [Shang-Jin Wei]( outlines the challenges facing the country as firms and households get out from under pandemic restrictions. [PS. Sign up for our On Point newsletter.]( 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. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [project-syndicate.org](. © Project Syndicate, all rights reserved. [Unsubscribe from this list](