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.
What’s the Renminbi Got to Do With it?
English Summary
The analysis argues that China's export surge is not merely a consequence of weak domestic demand, but is significantly driven by the managed depreciation of the Renminbi (RMB). The RMB is highly managed by the PBOC, acting more as a policy variable than a byproduct of monetary policy, and historical data confirms that periods of currency weakness correlate with accelerated export growth. Policymakers must recognize the RMB's critical role in China's external balance, as ignoring this exchange rate management leads to inaccurate global economic forecasts and prevents China from achieving sustainable, balanced trade.
中文摘要
本分析指出，中國的出口激增並非僅僅是國內需求疲軟的結果，而是顯著受到人民幣（RMB）有管理的貶值所推動。人民幣受到中國人民銀行（PBOC）的高度管理，其作用更像是一個政策變數，而非貨幣政策的副產品。歷史數據證實，貨幣貶值時期與出口增長加速存在相關性。政策制定者必須認識到人民幣在中國外部平衡中的關鍵作用；若忽視這種匯率管理，將導致全球經濟預測失準，並阻礙中國實現可持續、均衡的貿易發展。
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