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Non-commercials in the futures market reduced the net long euro position for the second consecutive week through April 26. Click here to know more...
Russia's war on Ukraine has created a crisis on top of a crisis, says associate editor Vikram Khanna in his latest commentary. https://www.straitstimes.com/opinion/russias-war-is-feeding-a-hunger-cr… . Read more at straitstimes.com.
Bringing Taiwan to the World and the World to Taiwan
Some of the most consequential changes come upon us silently, almost without notice. The world is in the midst of one right now: Our doctrines of nuclear deterrence are obsolete and in desperate need of an update. Some history: One of the most famous early concepts in deterrence theory was the doctrine of “mutual assured destruction,” or MAD. Its logic was laid out by Thomas Schelling (a former doctoral adviser of mine), who won a Nobel Prize in economics in large part for his ideas on nuclear strategy. The MAD doctrine is easy to explain: If they destroy us with nukes, we
Deterrence is a tenuous concept, in need of reinvention by each generation.