Ajay Banga: The World Bank Reflects Our Ambition

with Daron Acemoglu, Jayati Ghosh, Richard Haass, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( JULY 16, 2023 This week at [Project Syndicate]( Isabella M. Weber explains that hiking interest rates cannot stem today’s “sellers’ inflation”; Ajay Banga spell out a new vision and mission for the World Bank that is worthy of its stakeholders’ shared aspirations; Yuliya Tymoshenko shows how NATO would benefit from having Ukraine as a member; and more. Economics & Finance [Taking Aim at Sellers’ Inflation]( [Isabella M. Weber]( urges policymakers to match their improved understanding of the problem with more appropriate policies. Economics & Finance [The World Bank Reflects Our Ambition]( [Ajay Banga]( touts a new vision for the institution, defined by the goal of ending poverty on a livable planet. [PS. For a limited time, save 30% on a new PS subscription.]( Politics & World Affairs [What Ukraine Brings to NATO]( [Yuliya Tymoshenko]( explains why the country, once it has defeated Russia, would be an invaluable asset to the alliance. Politics & World Affairs [Ascending the Vilnius Summit]( [Richard Haass]( explains what NATO should offer Ukraine – and why it should not include an immediate invitation to join. [PS Longer Reads: Currency, Conflict, and Global Order]( [Currency, Conflict, and Global Order]( [Carla Norrlöf]( identifies a key problem with predictions of the demise of the US dollar’s global hegemony. Economics & Finance [Why the Paris Financing Summit Failed]( [Jayati Ghosh]( [Sandrine Dixson-Declève]( and [Johannah Bernstein]( decry the reluctance of advanced-economy leaders to facilitate the green-energy transition. Culture & Society [After Affirmative Action]( [Daron Acemoglu]( proposes a hybrid college admissions system in the US, based on both test scores and weighted lotteries. [PS Quarterly: Pulling Nuclear Powers Back from the Brink]( [Pulling Nuclear Powers Back from the Brink]( [Gro Harlem Brundtland]( warns that Russia’s aggression and US-China tensions could result in a new, more complex arms race. Sustainability Now [Changing the Culture at the World Bank]( [Bertrand Badré]( and [Peter Blair Henry]( outline several steps that its new leadership should take to inspire stakeholders' confidence. Economics & Finance [Russia and the Long Shadow of Versailles]( [Barry Eichengreen]( considers how the Kremlin should be compelled to pay for the damage it has caused in Ukraine. [PS Big Question: What Lies Beyond the AI Tipping Point]( From the Archive [What Lies Beyond the AI Tipping Point]( [Andrea Komlosy]( [Sami Mahroum]( [Stan Matwin]( and [Gabriela Ramos]( offer clear-eyed assessments of the artificial-intelligence revolution heralded by the popular and investor response to ChatGPT. Sustainability Now [A New Energy Pact for Africa]( [William Ruto]( and [Fatih Birol]( propose that government leaders work with international partners to deploy renewables on the continent. Politics & World Affairs [Xi Jinping’s Russian Albatross]( [Kent Harrington]( show why China's “no limits” partnership with Russia has become a liability it cannot throw off. [PS. Learn more about the winner of the 2023 PS Sustainability Book Award.]( 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](