During the past eight months of the global COVID pandemic, the Chinese People’s Liberation Army (PLA) has been active in promoting China’s claims in the South China Sea. This essay evaluates PLA statements, military exercises and operations, and deployment of relevant platforms and weapons in the South China Sea during this period. I leverage Chinese-language sources in addition to my own operational knowledge from over a decade of military experience to provide greater context for these activities.
We analyze unilateral, efficient and Nash trade policies in a symmetric, two-country version of the Melitz-Ottaviano (2008) model. Starting at global free trade, we show that a country gains from the introduction of (1) a small import tariff; (2) a small export subsidy, if trade costs are low and the dispersion of productivities is high; and (3) an appropriately combined small increase in its import and export tariffs. The welfare of its trading partner, however, falls in each of these three cases.
The internet economy has produced digital platforms of enormous economic and social significance. These platforms—specifically, Google, Facebook, Amazon, Twitter, and Apple—now play central roles in how millions of Americans obtain information, spend their money, communicate with fellow citizens, and earn their livelihoods. Their reach is also felt globally, extending to many countries around the world. They have amassed the economic, social, and political influence that very few private entities have ever obtained previously.
ANTITRUST AND PRIVACY CONCERNS are two of the most high-profile topics on the tech policy agenda. Checks and balances to counteract the power of companies such as Google, Amazon, and Facebook are under consideration in Congress, though a polarized political environment is a hindrance. But a domestic approach to tech policy will be insufficient, as the users of the large American tech companies are predominantly outside the United States.
POPULAR CULTURE HAS ENVISIONED SOCIETIES of intelligent machines for generations, with Alan Turing notably foreseeing the need for a test to distinguish machines from humans in 1950. Now, advances in artificial intelligence that promise to make creating convincing fake multimedia content like video, images, or audio relatively easy for many. Unfortunately, this will include sophisticated bots with supercharged self-improvement abilities that are capable of generating more dynamic fakes than anything seen before.
Yong Suk Lee and Charles Eesley examine how university entrepreneurship programs affect entrepreneurial activity using a unique entrepreneurship‐focused survey of Stanford alumni. OLS regressions find a positive relationship between program participation and entrepreneurship activities. However, endogeneity hinders causal interpretation. They utilize the fact that the entrepreneurship programs were implemented at the school level.
As climate change leads to increased frequency and severity of drought in many agricultural regions, a prominent adaptation goal is to reduce the drought sensitivity of crop yields. Yet many of the sources of average yield gains are more effective in good weather, leading to heightened drought sensitivity. Here we consider two empirical strategies for detecting changes in drought sensitivity and apply them to maize in the United States, a crop that has experienced myriad management changes including recent adoption of drought-tolerant varieties.