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The Crisis of a Lifetime (Project Syndicate, 11 min read) George Soros believes President Xi Jinping’s power in China will decline due to the handling of the crisis. He is also sceptical on the EU’s survival. He proposes that the EU should issue Consols (perpetual bonds) since that was successful historically and it would sidestep the legal issue currently posed at the ECB (due to the German court ruling).
Navigating Deglobalization (Project Syndicate, 6 min read) Mohamed A. El-Erian is confident that gradual de-globalization is on the cards. He believes the main drivers are national security interests (having access to strategically necessary inputs without relying on other countries) and the US-China blame game worsening the overall geopolitical landscape. His advice? Focus on minimizing the disruption rather than fighting against de-globalization.
The coronavirus has led to more authoritarianism for Turkey(Brookings, 8 min read) Like many countries, COVID forced Turkey to face a dilemma: save the economy or save lives. Since Turkey is subject to authoritarian governance, it’s recovery will be slow, with long-term damage inflicted on its institutions, democracy, the rule of law, and economic development.