Stephen S. Roach: American Tactics vs. Chinese Strategy

with Mariana Mazzucato, Nina L. Khrushcheva, Dani Rodrik, Yanis Varoufakis, and more The Sunday Newsletter [View this message in a web browser]( [PS on Sunday]( OCTOBER 1, 2023 This week at [Project Syndicate]( Stephen S. Roach explains why Huawei, to the shock of sanctions-focused American officials, was able to make a processor breakthrough in its flagship smartphone; Nancy Qian considers the implications of soaring youth unemployment in China; Antara Haldar traces the demise of the economic orthodoxy of the past 50 years; and more. Politics & World Affairs [American Tactics vs. Chinese Strategy]( [Stephen S. Roach]( warns that short-termism will never be enough to offset the long-term benefits of strategic thinking. Economics & Finance [Is Chinese Youth Unemployment As Bad As It Looks?]( [Nancy Qian]( argues that the rise in joblessness among young people does not spell economic apocalypse for China. [PS. Watch our Climate Week NYC event now.]( Economics & Finance [Laying Chicago Economics to Rest]( [Antara Haldar]( looks back on 50 years of neoclassical economic orthodoxy and the damage it has wrought. Economics & Finance [Bridging the Climate-Development Gap]( [Dani Rodrik]( and [Ishac Diwan]( explain how to free up fiscal space for sustainable development in many low- and middle-income countries. [PS Longer Reads: A Chinese Bubble Long in the Making]( [A Chinese Bubble Long in the Making]( [Yi Fuxian]( traces the long roots of the country's mounting economic and financial problems. Politics & World Affairs [Putin and Kim's Cartoon Summit]( [Nina L. Khrushcheva]( thinks that Russia's recent meeting with North Korea was intended primarily as a warning to the South. Culture & Society [Auto Strikes and Climate Change]( [Mariana Mazzucato]( and [Damon Silver]( explain why the transition to a net-zero economy cannot happen without worker empowerment. [PS Big Picture: Industrial Policy Is Back]( [Industrial Policy Is Back]( [Joseph E. Stiglitz]( [Dani Rodrik]( [Mariana Mazzucato]( and more consider the merits of governments’ recent turn away from conventional economic wisdom. Politics & World Affairs [Christine Lagarde’s Gifts to Populists]( [Yanis Varoufakis]( worries that the European Central Bank's blunders have revived the far right's political fortunes. Economics & Finance [Is the Fed’s Negative Capital a Problem?]( [Willem H. Buiter]( thinks not, but recommends a reform designed to ensure that it does not become one in the future. [PS Say More: Ashoka Mody on Indian corruption, growth, jobs, and more]( [Ashoka Mody on Indian corruption, growth, jobs, and more]( [Ashoka Mody]( explains the roots of the lack of accountability in India, doubts that the country can assume a Chinese-style role in manufacturing, and more. Politics & World Affairs [Saudi Arabia’s New Nationalism]( [Bernard Haykel]( explains the reasoning behind the Kingdom's ongoing domestic- and foreign-policy transformation. Politics & World Affairs [Democracies Are Not “Backsliding”]( [Jan-Werner Mueller]( thinks the language commonly used to describe the shift toward authoritarianism is hampering solutions. [PS. Subscribe to PS Premium to secure your copy of PS Quarterly: Stayin’ Alive.]( 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](