The article argues that recent executive overreach and politicization have severely undermined established norms of U.S. civil-military relations. To restore professional standards, the incoming Congress must actively exercise its oversight powers, moving beyond mere criticism to demanding transparency in defense policy and personnel decisions. Key reforms include enforcing meritocratic promotion processes, requiring documented justification for senior officer removals, and preventing the partisan use of the military. These actions are crucial for bolstering public trust and ensuring the military remains a nonpartisan instrument of civilian control.
Japan’s exchange rate and creditor status: A longer-term view
English Summary
The Brookings analysis concludes that Japan's global economic weight and its relative importance as a creditor nation have significantly declined since the early 2000s. This decline is primarily attributed to the dramatic real depreciation of the yen, coupled with modest per capita growth and demographic shifts, causing Japan's share of global GDP and creditor positions to plummet. While Japan's absolute holdings of foreign assets, particularly in the U.S., remain large, their relative influence is waning compared to other global creditors. Policymakers should recognize that Japan's structural economic leverage is diminishing, suggesting that while its financial actions still matter, they are less critical to global stability than previously assumed.
中文摘要
布魯金斯智庫的分析結論指出，自21世紀初以來，日本的全球經濟份量及其作為債權國的相對重要性已顯著下降。這種衰退主要歸因於日圓的實質貶值，加上人均增長溫和以及人口結構變化，導致日本在全球GDP和債權地位中的佔比急劇下滑。儘管日本在國外資產，特別是美國的絕對持有量依然龐大，但與其他全球債權國相比，其相對影響力正在減弱。政策制定者應認識到，日本的結構性經濟槓桿正在減弱，這表明雖然其金融行動仍具備重要性，但對全球穩定的關鍵程度已不如先前假設的那麼關鍵。
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