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How Can Korea and the Rest of the World Navigate the Trump Tariff Wars? [Shang-Jin Wei]

The US trade war against the world economy has started soon after President Donald Trump reclaimed his control of the US Federal Government. The most recent action is a 25% tariff on steel and aluminum. While a separate 25% US tariffs on Canada and Mexico are narrowly avoided on February 1, they are merely postponed rather than cancelled. Many investment banks predicted that the new Trump tariffs could push both Canada and Mexico into a recession. The 10% extra tariff on imports from China went
2025.02.14 11:11
The rise of geopolitical risk and the fragmentation of international trade [Shinichi Fukuda]

The advent of the second Trump administration in the U.S. indicates a growing movement against globalization, with many countries adopting nationalistic policies. A new tariff war is now raising concerns that the existing order in the international economy could be in catastrophic danger. The global economy, which achieved sustainable growth under a free trade regime, faces new challenges in responding to the increasing protectionism. During the past decades, the world economy enjoyed the benefi
2025.02.12 11:07
The Asian Responsibility [Kaushik Basu]

As 2025 dawns, the world seems to be entering an age of anxiety, reminiscent of one hundred years ago, the period between the two World Wars. That period saw the German hyper-inflation of 1923, the rise of Hitler, and the Great Depression that caused jobs to vanish and incomes to plunge. As I write my first column for Herald Business, the world’s politics is polarized, democracy is witnessing a setback in many places, the share of income of workers in the GDP of most countries is falling, and ec
2025.02.06 11:40
Trump 2.0: Opportunities and Challenges for India in a Changing Global Order [Aditya Sinha]

Donald Trump’s re-election as the 47th President of the United States heralds a phase of intensified great power rivalry and renewed focus on securing American interests abroad. His leadership style, characterized by bold statements and a willingness to use punitive measures to achieve strategic aims, is poised to leave a significant impact on the geopolitical landscape, particularly in the Indo-Pacific and South Asia. Within these regions, his transactional diplomacy, prioritization of national
2025.01.31 11:45
South Korea’s Political and Economic Disconnect[Barry Eichengreen]

To say that South Korea faces troubled times may be the understatement of the year. The year is still young, so there’s still time for another understatement to top this one. But it’s hard not to be alarmed by how events are unfolding in the country. Above all, there is domestic political turmoil, with the impeachment of a president, resignation of an acting leader, and conviction of the head of the main opposition party on charges of violating the country’s election law. President Yoon Suk Yeol
2025.01.23 11:24
Trump’s Brave New Bitcoin World[Garrick Hileman]

Lede: The US government appears poised to establish some form of bitcoin reserve During a campaign speech in late-July last year, Donald Trump promised to create a “strategic national bitcoin stockpile”. This declaration, along with other proposed friendly policies like lighter-touch regulation, helped launch the price of bitcoin to over $100,000 for the first time. Now, even some dyed in the wool bitcoiners and generally pro-crypto policy figures are skeptical or even opposed to this campaign p
2025.01.21 11:42
Time to Ban Chatbot Companions and AI Profiles on Social Media [Frank Pasquale]

A Meta executive recently said that AIs should “have bios and profile pictures and be able to generate and share content” on sites like Instagram and Facebook. Like the company’s vision of a “Metaverse,” this futurism soon proved embarrassing. Users uncovered a strikingly tone-deaf profile for a photo-realistic AI named “Liv,” which was identified as a “black queer single mom.” Accusations of cultural appropriation soon followed. The company quickly removed “Liv” and other AI accounts, embarrass
2025.01.20 11:14
Six Reasons Why Globalization Can Survive Trump 2.0 [Steven A. Altman]

The re-election of President Donald Trump in the United States has reignited fears - and hopes in some quarters - about globalization ending and going into reverse. Indeed, uncertainty about future trade policies has soared to the highest level on record. Amid such extreme uncertainty, business and public policy leaders face high-stakes decisions about how much to rely on international ties for everything from critical resources to growth and innovation opportunities. While prudent decision-make
2025.01.15 11:34
AI Evaluations need Scientific Rigor [Rumman Chowdhury]

I was first asked what my p(doom) was on a podcast in 2022. For those unfamiliar with the phrase, p(doom) is a question asked of artificial intelligence (AI) experts to estimate their probability (p) of AI leading to catastrophic outcomes (or “doom”), such as human extinction or similarly severe and permanent disempowerment of humanity. At the time, I thought the concept was a joke (and I still do), but if we are to believe what we read in the media, AI will kill us all - possibly in ten years,
2025.01.13 11:18
Headwinds for electric vehicles and the battery industry[Christophe Andre-HIC]

Electric vehicles (EVs) are essential to contain global warming. Although the production of an EV generally generates more CO₂ emissions than that of an equivalent internal combustion engine (ICE) vehicle, its lifecycle footprint is usually much smaller, due to considerably lower emissions related to its operation. The CO₂ emission gains generated by moving from ICE vehicles to EVs depend on various factors, including the vehicle’s size, utilisation intensity and lifespan, as well as the way the
2025.01.08 11:07