May 16, 2025 | View in Browser
Putin’s New Hermit Kingdom
At War With the West and Its Own Elites, the Russian Regime Inches Toward a Fully Closed Dictatorship
By Andrei Yakovlev, Vladimir Dubrovskiy, and Yuri Danilov
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The World Needs Better Balance Sheets
Traditional Measures Fail to Capture the Complexity of the Global Economy
By Diane Coyle
America Has a Historic Opportunity in the Middle East
Trump Has Leverage, but He Must Use It Wisely
By Philip H. Gordon
How China Armed Itself for the Trade War
Beijing’s High-Risk Approach to Its Economic Confrontation With Washington
By Zongyuan Zoe Liu
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