Project Syndicate

An Alternative History for America at 250

Adekeye Adebajo — Fri, 17 Jul 2026 15:53:36 GMT

Commemorating the 250th anniversary of the United States requires an honest appraisal of not only its founding principles but also its racist and imperialist legacy. A clear-eyed assessment shows why many people in the Global South remain cynical about the country’s ability to live up to its ideals.

A Turning Point for African Industrialization

Koffi Alle — Fri, 17 Jul 2026 13:54:45 GMT

Building on the success of his mega-refinery in Lagos, Nigerian industrialist Aliko Dangote is in talks to construct a second one in collaboration with several East African countries. African leaders should learn from Dangote’s strategy of adding value to the continent’s natural resources and fostering cross-border cooperation.

Subsidies Do Not Explain China’s Competitiveness

Kai Guo — Fri, 17 Jul 2026 12:56:10 GMT

Like every major economy, China uses industrial policy, and its subsidies have mattered. But subsidies are no longer the most convincing explanation for Chinese firms’ emergence as global leaders in industries that used to be the exclusive domain of advanced economies.

Putin Likes His Worst Option in Ukraine

Carl Bildt — Fri, 17 Jul 2026 11:53:13 GMT

Faced with a quagmire in eastern Ukraine and escalating Ukrainian attacks within Russia, Vladimir Putin must either seek a ceasefire or pursue some form of escalation. With all signs pointing to him embracing the latter alternative, the situation could worsen dramatically for everyone, but especially for him.

The Subversion of the International Criminal Court

Josep Borrell — Fri, 17 Jul 2026 09:59:17 GMT

Already under US sanctions for his role in securing an arrest warrant for Israeli Prime Minister Benjamin Netanyahu, the chief prosecutor of the International Criminal Court is now at risk of being removed altogether. If member states do not stand up for judicial independence now, they may never get another chance.

What Inequality Does to Electoral Democracy

Harold James — Fri, 17 Jul 2026 08:16:55 GMT

Like many advanced democracies, France has long cycled between periods in which its politics were divided along traditional left-right redistributionist lines, and those in which culture war issues took center stage. If there is any lesson to be drawn from this history, it is that the cycle may be about to repeat.

Where Will Global Financial Fragmentation Lead?

Şebnem Kalemli-Özcan — Thu, 16 Jul 2026 16:38:32 GMT

Debates about geopolitical fragmentation always revive the late economist Robert Mundell’s dream of a single world money. But participants should be mindful of the euro’s real-world experience over the past quarter-century.

Development Economics for an Age of Upheaval

Carlos Lopes — Thu, 16 Jul 2026 14:03:34 GMT

The framework that has long guided development economics no longer reflects how modern economies actually create value. As the boundaries that once separated sectors become blurred, prosperity increasingly depends on how economies build the ecosystems that sustain technological progress and nurture new productive capacity.

The Death of the Degree

Iryna Volnytska — Thu, 16 Jul 2026 12:03:13 GMT

AI is often portrayed as a threat to higher education, with some administrators and professors focused on rooting out its use. But this approach fails to recognize that, in an AI-transformed world, the new dividing lines are technical capabilities and institutional pipelines that can quickly transform research into products.

Hungary’s Real Economic Test

Gene Frieda — Thu, 16 Jul 2026 11:02:05 GMT

Entering the euro with favorable market sentiment, but without an economy that can function well within a monetary union, would not serve Hungary’s long-term interests. It would be a formula for more broken promises—precisely the trend that the new government was elected to end.

The Iran War Exposes the Global Economy’s Fault Lines

Jayati Ghosh — Wed, 15 Jul 2026 15:41:10 GMT

Buoyed by AI stocks, global financial markets have largely shrugged off the war with Iran. Yet the conflict’s long-term economic costs are only beginning to emerge, as depleted strategic oil reserves, damaged refining capacity, and rising fuel and fertilizer costs increasingly weigh on lower-income economies.

Governments Should Govern AI, Not Own It

Gabriela Ramos — Wed, 15 Jul 2026 14:58:19 GMT

AI systems are now powerful enough to threaten critical infrastructure, financial systems, and national security. Rather than becoming shareholders in AI companies, as US President Donald Trump has proposed, governments should invest in the independent institutions needed to hold the industry accountable.

The Tragedy of “Westalgia”

Mark Leonard — Wed, 15 Jul 2026 13:17:03 GMT

Some European leaders seem to think that abasing themselves for Donald Trump's pleasure is necessary to save NATO and keep the Western alliance alive. But by so desperately clinging to the good old days of the transatlantic relationship, Europe’s leaders are risking more than just their dignity.

The West’s Turkey Dilemma

Anne O. Krueger — Wed, 15 Jul 2026 08:50:06 GMT

Few countries better illustrate the difficult trade-off between democratic principles and strategic necessity than Turkey. As the country’s geopolitical and economic importance grows, NATO allies are becoming increasingly willing to overlook President Recep Tayyip Erdoğan’s attacks on democratic institutions.

How the Tech Lords Hacked the Firm

Quinn Slobodian — Wed, 15 Jul 2026 08:11:02 GMT

A handful of tech oligarchs have figured out how to tap public markets without submitting to shareholder oversight. The recent SpaceX IPO represents the culmination of this process, granting Elon Musk near-total authority and revealing how thoroughly the mechanisms meant to hold corporate leaders accountable have been weakened.

Asia’s Real Energy Test

Yasuto Watanabe — Tue, 14 Jul 2026 16:09:56 GMT

The Iran war has underscored the fragility of global energy markets, exposing which economies can withstand repeated shocks and which cannot. For ASEAN+3 countries, resilience will depend on stronger electricity systems, regional cooperation, and institutions that can manage persistent uncertainty.

The US Economy Cannot Grow Without Renewables

Daniel Driscoll — Tue, 14 Jul 2026 15:45:04 GMT

Consumption demand, which has long powered America’s formidable economy, rests on the promise of cheap energy. But the Trump administration has conflated that with fossil fuels, confusing historic correlation with causation and, in the process, jeopardizing long-term prosperity.

The Purpose of Development Cooperation Is to Be Unnecessary

Vitalice Meja — Tue, 14 Jul 2026 14:50:49 GMT

The original promise of development cooperation was to help countries overcome poverty, build productive economies, and reduce their dependence on external resources. That has not happened, and ongoing reviews of development cooperation, which focus on donor countries' needs and priorities, are unlikely to change this.

Oil Shocks Are No Longer So Shocking

Nouriel Roubini — Tue, 14 Jul 2026 13:47:00 GMT

Despite this year's US/Israeli-Iran war causing the largest-ever disruption to global oil supplies, the shocks of the 1970s had a greater impact. Because oil has been used as a weapon for so long, markets, policymakers, and strategists have adapted.

The Mother of All Economic Shocks Is Chinese Mercantilism

Arvind Subramanian — Mon, 13 Jul 2026 14:28:18 GMT

Because analysts tend to put the United States at the center of the global economic story, they have overlooked the single most important force of the past 50 years. But it will be obvious to later generations that Chinese mercantilism has been more globally consequential than any other economic shock or policy choice.