The US’ decline started with little things that people got used to. Americans drove past empty construction sites and didn’t even think about why the workers weren’t working, then wondered why roads and buildings took so long to finish. They got used to avoiding hospitals because of the unpredictable and enormous bills they’d receive. They paid 6 percent real-estate commissions, never realizing that Australians were paying 2 percent. They grumbled about high taxes and hig

The other day, I came across the 2009 HBO film, “Taking Chance.” Watching the movie based on a true story, I spent a riveting hour and 17 minutes, deeply moved by the way how Americans treat their fallen soldiers in war. It occurred to me that we should learn from the movie how to honor our soldiers killed in action. The movie unfolds the story of Lt. Col. Michael Strobl, a US Marine Corps officer who volunteers to escort the body of PFC Chance Phelps, who died in the Iraq War, bac

Despite deleveraging rhetoric, risks lurking in China’s financial system are coming to the fore and starting to hurt a highly sensitive group: repressed savers. Eroding investor confidence and blockages in the allocation of money could become far more dangerous than previously. Beijing has few options but to backpedal on rules meant to clamp down on the unruly underbelly of its banking system. The problems range from hotspots in the nearly $3 trillion shadow lending industry to wealth man

Is the global monetary order ready for another reboot? In the 1960s, Japan and Europe exported their way to post-World War II prosperity under the fixed exchange rates of the Bretton Woods agreement. The US went off the gold standard in 1971, but the established way of doing things didn’t collapse. Thirty years later, China essayed the role of being the world economy’s periphery and selling cheap widgets to a revamped core -- the West and Japan -- with the help of an undervalued ex

The European Union has many problems, but the most fundamental may be the rift between northern and southern member states and the even deeper fault line running between west and east. That latter fissure is especially dangerous because, unlike the largely economic one between north and south, it tears at the EU’s core values, including democracy, freedom of the press and the rule of law. For the past decade, Hungary’s prime minister, Viktor Orban, has been flouting these principles

As rumors of Kim Jong-un’s death circulated in April, some speculated that his sister and confidant, Kim Yo-jong, might soon succeed him as North Korea’s Supreme Leader. Perhaps still auditioning for the role, she has recently become North Korea’s chief saber rattler. Earlier this month, she escalated tensions with South Korea by cutting communications with Seoul and threatening military action over defectors’ distribution of anti-Pyongyang leaflets from across the border

Like the leading character in a long-running television series, North Korean leader Kim Jong-un has kicked off the latest crisis on the Korean Peninsula with familiar theatrics. After cutting off all communications with South Korea earlier this month, the Kim regime bombed the building in which it had previously hosted South Korean diplomats. It has redeployed troops into demilitarized border areas and issued renewed threats of violence against the South. The latest displays of bombast follow

The act of wearing a mask in South Korea takes on a deeply social meaning. Masks are supposed to protect both the wearer and others from the dreadful COVID-19. But the emphasis is clearly placed on preventing the wearer from infecting neighbors, colleagues and even strangers. If I happen to forget wearing a mask in public places (including office elevators and public restrooms), I am bound to witness angry expressions deepening on the upper half of the faces of people nearby. I bet the lower h

Russia’s president has not had a good pandemic. But Vladimir Putin is staging a comeback, with a touch of foreign-policy grandstanding, a dash of military theater and a plebiscite on constitutional reforms that could allow him to stay in power until 2036. The vote will confirm changes already approved by parliament in March, and it didn’t have to happen now. Even so, the Kremlin pushed ahead and Putin wants citizens to come out in large numbers to back the measures. With Russia stil

Until recently, it seemed like the contentious debate over lockdowns was over. By the end of May, many states were defying the warnings of public-health experts, reopening restaurants, retail and public spaces. The huge protests against police brutality and racism reinforced the notion that keeping Americans confined to their homes was a lost cause. Now, even San Francisco, one of the first cities to issue a stay-at-home order, is proceeding with a phased reopening of businesses and public space

This year’s gathering of world leaders for the United Nations General Assembly in New York has been called off. The news of the cancellation -- the first in the UN’s 75-year history -- came a week after a planned G-7 meeting at Camp David was scrapped, and a month after the G-20 abandoned plans for a virtual summit. At a time when the global nature of today’s most pressing challenges is more apparent than ever, the instruments of multilateralism are not just underperforming. Th

On June 25, 2020, Korea commemorates the 70th anniversary of the Korea War. It means that the babies who were born in 1950 when the war broke out are now 70 years old. It is sad to think that those who went through the atrocities of the war are now old and fade away, making the Korean War “a forgotten war.” Nevertheless, we should be faithful to the memory of the conflict that devastated the Korean Peninsula for three years. The war destroyed virtually everything in our already des

The European Commission’s plan for a 750 billion-euro ($842 billion) fund to deal with the economic consequences of the pandemic is a quantum leap in Europe’s crisis response. Yet, for all the good intentions, political leaders still have to agree on the details of the scheme. The European Council -- a gathering of prime ministers and presidents -- will meet Friday to discuss the plan, although most observers only expect a breakthrough to happen in July. The EU is still wrestling wi

The United States has for decades deployed large numbers of its military forces overseas. Today, some 170,000 troops are stationed in more than 150 countries. But the vast majority of them are based in just three nations: Germany, Japan and South Korea. That is no coincidence. During the last century, the United States fought devastating wars in all three countries, and its continued military presence there has ensured an enduring peace ever since. That peace has been the foundation of prosperi

On Tuesday morning, cars and pedestrians lined up for free COVID-19 tests in south Minneapolis, six blocks from where George Floyd was killed last month. As protests flared after his death, Minnesota’s Department of Health had set up the testing site and encouraged demonstrators to visit in hopes of stemming a potential new outbreak. Long lines at this center and three others in the Twin Cities suggest that, far from being complacent about the risks of taking to the streets in a pandemic,