FROM THIS EPISODE
Saturday, a unanimous UN Security Council sanctioned North Korea for nuclear testing. Today, at an international conference in Manila, Secretary of State Tillerson said that if the testing stops, the US is willing to talk.
But today, at that same meeting, North Korea's Foreign Minister said the UN action was illegal, and reminded the world of the US atomic bombs dropped on Hiroshima and Nagasaki. Mike Chinoy, non-resident senior fellow at USC's US-China Institute and author of Meltdown: the Inside Story of the North Korean Nuclear Crisis, says it's a case of political posturing and hopes for diplomacy
President Trump's on a 17-day "working vacation" at his golf club in Bedminster, New Jersey. Back at the White House, Chief of Staff John Kelly, the former General, reportedly is seizing the moment to impose order on factional infighting. He's reportedly said he can't control the President, but what about Steve Bannon, the Kushners and National Security Advisor H.R. McMaster? All have tribal loyalists. Is "order" possible under shadows including declining support from Congress, North Korea's nuclear challenge — and the Russia investigation?
Glenn Thrush, New York Times (@GlennThrush)
Molly McKew, expert on information warfare (@MollyMcKew)
Juan Cole, University of Michigan (@jricole)
Tim Weiner, journalist and author (@TimWeinerAuthor)
On the same day Donald Trump was elected President of the United States, the nation of India was stunned by a shock of a different kind. On National TV, Prime Minister Narendra Modi announced an end to the two largest and most frequently used bills, the 500 rupee and 1000 rupee notes — which comprise 86 percent of outstanding cash in the country. Was it smart? Reckless? Could the US escape the "curse of cash?"
Photo by Satish Krishnamurthy
Kenneth Rogoff is professor of economics and public policy at Harvard. His book, The Curse of Cash: How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy, has just been reissued in paperback.
Kenneth S. Rogoff
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