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Foreign Affairs January Feburary 2020.Pdf FAREED ZAKARIA ON THE CHINA PANIC JANUARY/FEBRUARY 2020 january/february 2020 • volume 99 • number 1 • the The future Future of of capitalism Capitalism FOREIGNAFFAIRS.COM FA_JF2020_cover.indd All Pages 11/15/19 1:15 PM DOWNLOAD CSS Notes, Books, MCQs, Magazines www.thecsspoint.com Download CSS Notes Download CSS Books Download CSS Magazines Download CSS MCQs Download CSS Past Papers The CSS Point, Pakistan’s The Best Online FREE Web source for All CSS Aspirants. Email: [email protected] BUY CSS / PMS / NTS & GENERAL KNOWLEDGE BOOKS ONLINE CASH ON DELIVERY ALL OVER PAKISTAN Visit Now: WWW.CSSBOOKS.NET For Oder & Inquiry Call/SMS/WhatsApp 0333 6042057 – 0726 540316 CSS Compulsory Solved MCQs from 2000 to 2019 & CSS Compulsory Solved Subjective Papers from 2016 to 2019 FPSC Model Papers 44th Edition (Latest & Updated) By Imtiaz Shahid Advanced Publishers For Order Call/SMS 03336042057 - 0726540141 www.danzoman.com Kids Clothing Online Shop Best available Kids Dresses in Pakistan /danzomanofficial/ Volume 99, Number 1 THE FUTURE OF CAPITALISM The Clash of Capitalisms 10 The Real Fight for the Global Economy’s Future Branko Milanovic How Poverty Ends 22 The Many Paths to Progress—and Why They Might Not Continue Abhijit V. Banerjee and Esther Duflo The Starving State 30 Why Capitalism’s Salvation Depends on Taxation Joseph E. Stiglitz, Todd N. Tucker, and Gabriel Zucman The Neoliberal Collapse 38 COVER: Markets Are Not the Answer Miatta Fahnbulleh DAVID The Neosocialist Delusion 44 PLUNKERT Wealth Is Not the Problem Jerry Z. Muller January/February 2020 02_TOC_Blues.indd 1 11/18/19 4:12 PM Your dream job is a global adventure away. Global Leadership for the #1 master’s Fourth Industrial Revolution. in management Thunderbird School Thunderbird’s top-ranked Masters of Global Management of Global Management prepares leaders with the future-ready skills and hands-on – Times Higher Education and experience that global organizations demand in this era of rapid The Wall Street Journal, 2019 technological transformation. Choose from 16 concentrations, including Global Business, Global Digital Transformation, #1 in the U.S. Sustainability Solutions, Integrated Healthcare, and more. Or, customize your own path to the top. for innovation ASU ahead of Stanford and MIT – U.S. News & World Report, Start today at thunderbird.asu.edu/mgm 5 years, 2016–2020 19-ASU-1707 MGM Foreign Affairs R01.indd 1 10/28/19 12:49 PM ESSAYS The New China Scare 52 Why America Shouldn’t Panic About Its Latest Challenger Fareed Zakaria Chained to Globalization 70 Why It’s Too Late to Decouple Henry Farrell and Abraham L. Newman The Shoals of Ukraine 81 Where American Illusions and Great-Power Politics Collide Serhii Plokhy and M. E. Sarotte How to Fix American Health Care 96 What Other Countries Can—and Can’t—Teach the United States William C. Hsiao Adapt or Perish 107 Preparing for the Inescapable Effects of Climate Change Alice Hill and Leonardo Martinez-Diaz The Age of Great-Power Competition 118 How the Trump Administration Refashioned American Strategy Elbridge A. Colby and A. Wess Mitchell Women Under Attack 131 The Backlash Against Female Politicians Jamille Bigio and Rachel Vogelstein ON FOREIGNAFFAIRS.COM Nanj ala Nyabola on Willi am Burns on the Mi chael Beckley on the end of asylum demolition of U.S. the threat posed by a around the world. diplomacy. faltering China. January/February 2020 Book 1.indb 3 11/15/19 11:14 PM REVIEWS & RESPONSES Unmerited 140 Inequality and the New Elite Nicholas Lemann Dreams of Westphalia 148 Can a Grand Bargain Solve the Middle East’s Problems? Suzanne Maloney Dirty Money 154 How Corruption Shapes the World Oliver Bullough Ever-Further Union 159 What Happened to the European Idea? Andrew Moravcsik When Progressives Were on the March 166 The Postwar Era’s Lessons for the Left James E. Cronin Paths to Power 173 The Rise and Fall of Dictators Anna Grzymala-Busse Recent Books 177 “Foreign Affairs . will tolerate wide differences of opinion. Its articles will not represent any consensus of beliefs. What is demanded of them is that they shall be competent and well informed, representing honest opinions seriously held and convincingly expressed. It does not accept responsibility for the views in any articles, signed or unsigned, which appear in its pages. What it does accept is the responsibility for giving them a chance to appear.” Archibald Cary Coolidge, Founding Editor Volume 1, Number 1 • September 1922 January/February 2020 Book 1.indb 5 11/15/19 11:14 PM January/February 2020 · Volume 99, Number 1 Published by the Council on Foreign Relations GIDEON ROSE Editor, Peter G. 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YERGIN subscription services: Foreign Aff airs ForeignAff airs.com/services 58 E. 68th Street, New York, NY 10065 telephone: advertising: Call Edward Walsh at 212-434-9527 or visit 800-829-5539 U.S./Canada www.foreignaff airs.com/advertising 845-267-2017 All other countries web site: ForeignAff airs.com email: foreignaff [email protected] newsletters: ForeignAff airs.com/newsletters mail: P.O. Box 324, Congers, NY 10920 facebook: Facebook.com/ForeignAff airs reproduction: The contents of Foreign Aff airs are copyrighted. No part of the magazine may be reproduced, hosted or distributed in any form or by any means without prior written permission from Foreign Aff airs. To obtain permission, visit ForeignAff airs.com/permissions Foreign Aff airs is a member of the Alliance for Audited Media and the Association of Magazine Media. GST Number 127686483RT Canada Post Customer #4015177 Publication #40035310 Book 1.indb 6 11/15/19 11:14 PM www.thecsspoint.com CONTRIBUTORS ABHIJIT BANERJEE AND ESTHER DUFLO both came face-to-face with the harsh reality of extreme poverty early on in their lives—Banerjee as a child growing up in India, and Duflo through her mother’s work as a pediatrician in war zones. After joining MIT’s Economics Department, they teamed up to try to answer the question of what policies actually make a difference in reducing poverty and fostering development. For their pioneering work in the use of randomized control trials to study poverty reduction, Banerjee and Duflo shared the 2019 Nobel Prize in Economics with Michael Kremer. (Duflo is the youngest- ever recipient of a Nobel in economics and only the second woman to be awarded the prize.) In “How Poverty Ends” (page 22), Banerjee and Duflo draw on their decades of research to consider what has accounted for the remarkable decline in poverty in recent decades— and what, if anything, can be done to ensure that progress continues. Born in Liberia and raised in the United Kingdom after her family fled civil war, MIATTA FAHNBULLEH studied at Oxford and then got her doctorate at the London School of Economics, hoping to one day fight for economic justice in the developing world. Instead, she ended up taking on growing inequality at home, working on economic policy for the Labour Party and the British government, including as deputy director of the Prime Minister’s Strategy Unit. Now chief executive of the New Economics Foundation, a think tank devoted to grassroots economic transformation, Fahnbulleh argues in “The Neoliberal Collapse” (page 38) that the failure of free-market orthodoxy has paved the way for a new agenda inspired by socialist ideals. NICHOLAS LEMANN, a former dean of the Columbia Jour- nalism School, has been a writer and editor at Texas Monthly, The Washington Post, The Atlantic, and The New Yorker. He has also written five books, including The Big Test, his history of meritocracy in the United States, and the recently published Transaction Man, his account of the seismic economic and political changes reshaping the United States. In “Unmerited” (page 140), he takes up many of those issues in a review of Daniel Markovits’s The Meritocracy Trap, which he argues puts too much blame for U.S. society’s ills on elite colleges and universities. 02_TOC_Blues.indd 7 11/18/19 4:13 PM www.thecsspoint.com THE FUTURE OF CAPITALISM apitalism has been quite suc- concentrate on direct interventions to cessful as a system of political help improve people’s lives.
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