The timing couldn’t have been better. Democratic Party foreign-policy “expert” Joseph Nye, who served in the Carter, Clinton, and Obama administrations and who teaches at Harvard University, wrote an article in Project Syndicate extolling the virtues of post–Cold War engagement of China and praising the Biden administration’s competitive-engagement approach to China.
The Federal Reserve launched another sortie against the fastest inflation in four decades on Wednesday, approving the fourth straight supersized rate increase and signaling more increases were likely in the months ahead.