Economics and International Affairs Blog

Tuesday, May 12, 2026

Do We Think Too Much About the Future?
https://www.newyorker.com/culture/open-questions/do-we-think-too-much-about-the-future
For most of history, people didn’t try predicting it. Maybe that was wise.

Writing the Trump Years into History
https://www.newyorker.com/news/american-chronicles/writing-the-trump-years-into-history
How do you bring an American-history textbook up to date when the country’s past has become a political battleground?

Prices at the Pump Are Wiping Out Wage Gains
https://www.wsj.com/economy/jobs/prices-at-the-pump-are-wiping-out-wage-gains-d16d78c0
Americans’ hourly wages are up. The problem? Inflation is up even more.

There Is a Fire Sale on M.B.A.s
https://www.wsj.com/lifestyle/careers/there-is-a-fire-sale-on-m-b-a-s-87d56c69
With applications down, more business schools are offering discounts on specialized degrees that promise AI-era training.

China Increasingly Views Trump’s America as an Empire in Decline
https://www.nytimes.com/2026/05/12/business/china-trump-xi-decline.html
For decades, many Chinese viewed the United States with a mix of admiration, envy and resentment. President Trump’s volatile second term shattered that image.

China Seeks A.I. Independence, Weakening Trump’s Leverage
https://www.nytimes.com/2026/05/12/business/china-semiconductor-ai-deepseek.html
Before this week’s U.S.-Chinese summit, Beijing reached a milestone in its quest for technological self-sufficiency.

Xi’s China: Dazzling Technology, Military Muscle—and an Economic Mess
https://www.wsj.com/world/china/xi-china-technology-military-economy-mess-10eb1e22
China’s government is pouring money into AI, electric cars and military power, while consumer confidence sags and the job market grows bleak.

The Factory Town Known as China’s Furniture Capital Is Fighting to Survive
https://www.wsj.com/world/asia/the-factory-town-known-as-chinas-furniture-capital-is-fighting-to-survive-0875bc99
The U.S. lost much of its furniture industry to China years ago. Now, American tariffs and overseas competition are punishing manufacturers.

A Changing Job Market Leans Against Men

How to Make Sense of This Strange Job Market
https://www.wsj.com/economy/jobs/job-market-unemployment-rates-charts-55c8e85c
It’s a labor market unlike any other: Unemployment has drifted up, layoffs are low, hiring is slow, and the economy needs far fewer new jobs than it did before.

AI Can’t Agree on Which Jobs AI Might Destroy
https://www.wsj.com/tech/ai/ai-models-job-losses-4d31cb6f
Economists asked ChatGPT, Gemini and Claude which jobs were most exposed to AI. Many times, the answers varied widely.