The article argues that the Federal Reserve's recent rate hike decision, while justifiable on inflation grounds, highlights a critical lack of an underlying, transparent policy framework. The core problem is that the Fed's decisions appear discretionary, leading to market uncertainty because the committee's judgment, rather than clear data, dictates policy shifts. The author proposes that the Fed adopt a formal monetary policy rule—an algebraic formula linking the target rate to indicators like inflation and unemployment—to replace subjective guidance. Implementing such a rule would provide market predictability, enhance transparency, and shield the Fed from political attacks by making deviations from the standard easily quantifiable.
‘It’s a myth that Chinese internet users are mindless automatons’
English Summary
The article challenges the Western perception of Chinese internet users as 'mindless automatons,' arguing instead that they are 'wall dancers' who innovatively navigate the 'Great Firewall' through a mix of resistance and adaptation. It highlights how individuals—from feminist activists to tech entrepreneurs—leverage cycles of political loosening and use creative wordplay or strategic framing to maintain agency despite increasing authoritarianism. The findings suggest that policymakers should move beyond viewing China solely through a lens of national security or economic threat, instead recognizing the complex, dynamic, and often contradictory nature of its civil society.
中文摘要
本文挑戰了西方將中國網民視為「盲目機器人」的看法，主張他們實際上是「舞牆者」，透過反抗與適應的結合，創新地規避「防火長城」。文章強調了從女權活動家到科技企業家等個人，如何利用政治寬鬆週期，並運用創意文字遊戲或策略性框架，在日益加強的威權主義下保持能動性。研究結果建議，決策者應超越僅從國家安全或經濟威脅的角度看待中國，轉而承認其公民社會複雜、動態且往往充滿矛盾的本質。
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