The article argues that the post-Cold War era of U.S. unipolarity, established by the perceived invincibility demonstrated during the Gulf War, has ended. This decline is driven by globalization and technological diffusion, which have democratized advanced military capabilities, allowing regional actors to challenge major powers. Consequently, policymakers must prepare for a more volatile international order marked by frequent crises, heightened costs for securing global trade chokepoints, and reduced predictability from American power. The new rules dictate that great powers can no longer effortlessly impose their will through force.
Tracking the labor market and jobs
English Summary
Brookings has released an updated interactive tool, "Tracking the labor market and jobs," designed to provide detailed monthly monitoring of the U.S. workforce through various demographic lenses. The tool utilizes Current Population Survey microdata to offer granular insights into labor force participation, employment-population ratios, and nuanced unemployment metrics like the U-5 rate. By allowing cross-tabulation of factors such as nativity, education, and parental status, it highlights specific disparities and trends that headline economic figures often obscure. This capability is essential for policymakers to design evidence-based interventions that address the unique challenges faced by different segments of the labor market.
中文摘要
布魯金斯學會發布了更新後的互動式工具「追蹤勞動力市場與就業」，旨在透過多個人口統計視角對美國勞動力進行詳細的每月監測。該工具利用《當前人口調查》（CPS）的微觀數據，針對勞動力參與率、就業人口比以及如 U-5 失業率等細緻的失業指標提供深入見解。透過對出生地、教育程度和家長身分等因素進行交叉分析，該工具揭示了主要經濟數據往往掩蓋的特定差異與趨勢。這項功能對於決策者設計循證干預措施以應對勞動力市場不同群體所面臨的獨特挑戰至關重要。
Related Entries
-
1.
-
2.
The article argues that current market borrowing costs are rising independently of the Federal Reserve's policy stance, challenging the assumption that the Fed controls all rates. Evidence shows significant increases in key rates—such as 2-year Treasuries and mortgages—even while the effective federal funds rate remains steady. This divergence occurs because market rates reflect complex factors like inflation expectations, credit risk, and geopolitical volatility, which are outside the central bank's direct control. Policymakers should therefore recognize that sustainable rate moderation requires credible disinflation and disciplined government budgets, rather than relying solely on Fed intervention.
-
3.
Despite recent trade setbacks, the U.S. retains fundamental structural economic leverage over China, particularly in high-tech sectors and intermediate goods. While Beijing can temporarily weaponize specific resources like rare earths, these chokepoints are vulnerable to diversification efforts by the West. The article argues that the most effective strategy is not unilateral action but coordinated multilateral pressure from U.S. allies across Asia and Europe. Washington must therefore coordinate its economic statecraft with partners to maximize damage to China’s export-dependent model.
-
4.
The article argues that bond market behavior is not driven by an 'addiction' to tariff revenue but rather by the government’s overall fiscal health, growth prospects, and debt servicing capacity. Key evidence shows that customs duties generate a fraction of total federal receipts compared to core tax streams, meaning tariffs are too small to fundamentally alter the nation's fiscal trajectory. Furthermore, market reactions were dictated by the aggregate economic damage caused by large tariffs (inflation/growth concerns), not merely the revenue generated. Policymakers should recognize that the real concern for bond investors remains persistent budget deficits and high interest costs, issues that require comprehensive structural reform rather than reliance on tariff income.
-
5.
The author argues that the new 'Section 301' tariffs, ostensibly targeting forced labor, are not a genuine human rights measure but rather an attempt to re-establish a broad, punitive tariff wall. Key evidence supporting this claim includes the rushed nature of the investigation (98 pages for 60 economies), the lack of specific economic harm analysis, and the imposition of disproportionately high tariffs that far exceed any proportional response. Strategically, the use of human rights language to generate revenue sets a dangerous precedent, potentially allowing future administrations to bypass legislative processes and misuse trade law. The article concludes by urging Congress to reform these laws before they cause further damage to international trade frameworks.