Foreign Policy

Welcome to the Final Battle for the Climate

October 17, 2020

The great powers have taken big steps to fight global warming. Now attention turns to the rest of the world. China’s unilateral commitment to carbon

How Xi Just Saved the World 

September 25, 2020

In a little-noticed speech this week, China permanently changed the global fight against climate change. China will scale up its Intended Nationally Determined Contributions by

The World Is Winning—and Losing—the Vaccine Race

September 19, 2020

Immunization to COVID-19 is supposed to solve our problems—but it’s starting to trigger even bigger ones. Faced with a pandemic that paralyzed the world, a

It’s a New Europe—if You Can Keep It

August 7, 2020

“This summer, Europe is basking in a sense of accomplishment. On July 21, after protracted labor, the European Union announced the birth of a historic

The Sociologist Who Could Save Us From Coronavirus

August 1, 2020

We all know the Chernobyl script. A badly designed reactor suffered a meltdown. The decrepit Soviet regime tried to hide the disaster. Millions of citizens

The Death of the Central Bank Myth

May 13, 2020

In Europe, a ruling by the German Constitutional Court that the European Central Bank (ECB) failed to adequately justify a program of asset purchases it

We Remember World War II Wrong

May 7, 2020

One of the casualties of the COVID-19 pandemic is the great Victory Day parade that had been planned for Moscow’s Red Square for May 9.

The Coronavirus Oil Shock Is Just Getting Started (with N. Mulder)

April 23, 2020

The idea of a negative price for any commodity is outlandish, implying the seller is prepared to pay a buyer. But for oil, the largest

A Global Pandemic Bailout Was Coming—Until America Stopped It

April 17, 2020

In mid-April, in a normal year, American citizens rush to finish their tax returns, and the world’s financial elite gathers in Washington, D.C., for the

The Normal Economy is Never Coming Back

April 9, 2020

As the coronavirus lockdown began, the first impulse was to search for historical analogies—1914, 1929, 1941? As the weeks have ground on, what has come

America is ailing – and leading the world

April 1, 2020

This is the first great crisis of the post-American world,” former Swedish Foreign Minister Carl Bildt tweeted on Wednesday. “The UN Security Council is nowhere

The Coronavirus Is the Biggest Emerging Markets Crisis Ever

March 29, 2020

We used to think that the 2007-2008 financial crisis set the standard for a savage global shock. But that crisis took more than 12 months

Is the Coronavirus Crash Worse Than the 2008 Financial Crisis?

March 18, 2020

In May 2018, President Donald Trump restructured and downsized the pandemic preparedness unit. Of course, it seems ill-judged in retrospect. But he was not the

How Climate Change has Supercharged the Left

January 15, 2020

The climate emergency is stirring radical politics across the world. Most notably, the left wings of both the Democratic Party in the United States and

Britain Can’t Afford the Queen’s Weakness Anymore

August 30, 2019

In Europe, two major political crises are unfolding that are the mirror image of each other. At the northern end of the continent, on Wednesday

The Global Economy Lives in Wonderland Now

August 1, 2019

There was a period not so long ago when it looked as though the world’s central banks were on course to normalize. We were nearing

Why Central Banks Need to Step Up on Climate Change

July 20, 2019

In October 2012, the global financial system got its first taste of the effects of climate change when Hurricane Sandy roared through lower Manhattan, shutting

Christine Lagarde Won, but This Isn’t a Game

July 3, 2019

The haggling over the European Union’s top jobs has been a remarkable drama. The effort by German Chancellor Angela Merkel to broker a deal for

ADAM TOOZE

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