Rather than leaving it to the private sector, governments should step in with creative, long-term investments in education, infrastructure and environmental protection, boost innovation and research, and be unafraid to embark on deficit spending to do this
The world has not really recovered from the 2008 financial crisis, and quantitative easing has only set the stage for the next crisis. To turn things around, central banks should create fiat money and states should spend on job creation.
While Beijing has good reason to be wary of American hegemony in the region, it must realise that a US military withdrawal will encourage unwanted developments: nuclear-armed neighbours in a unified Korea and Japan.