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.
A Great Rebalancing Is Coming
English Summary
The article argues that current global trade imbalances are fundamentally unsustainable, predicting an inevitable and painful "Great Rebalancing." Historical evidence demonstrates that such adjustments rarely occur benignly, disproportionately burdening deficit countries with recessionary costs when coupled with high debt. Since major economies lack a coordinated solution due to conflicting diagnoses, the risk of a severe financial crisis is high. Strategically, nations must prepare for this shock, recognizing that economic power and political strength will determine which country bears the brunt of the inevitable adjustment costs.
中文摘要
本文論述當前的全球貿易失衡在本質上是不可持續的，預測一場不可避免且痛苦的「大規模再平衡」即將到來。歷史證據顯示，此類調整很少能平穩發生，特別是在高負債背景下，往往會不成比例地將衰退成本轉嫁給赤字國家。由於主要經濟體因診斷立場不一而缺乏協調性解決方案，導致爆發嚴重金融危機的風險極高。從戰略角度來看，各國必須為此衝擊做好準備，並認識到經濟實力與政治力量將決定哪個國家需要承擔這場不可避免的調整成本。
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