When a bank fails, attention inevitably turns to its regulators. Who was asleep at the wheel? Who failed to spot the warning signs? The failure of Silicon Valley Bank is no exception. In the United States, these questions are often directed at many different agencies, since the system is complex and hard for outsiders to understand. So, the conclusion is often an inverted form of John F. Kennedy...

Xi Jinping and Vladimir Putin ended their Moscow summit last week by showcasing economic help and diplomatic support China will provide the now supplicant banana-less republic that is Putin’s Russia today. But even more importantly, the two autocratic presidents were careful not to spotlight this year’s most important reality: Apparently, their famous “no limits” partnership they boldly declared...

In Dobong-gu in northeast Seoul, the Seoul Robot & AI Museum (Seoul: RAIM), which was built mostly by robots and drones, is nearing completion. Scheduled to open this fall, the museum represents a daring effort to integrate robotics into the construction of a public building. Experiments in robotics development and implementation are active in South Korea and hold the potential to turn the countr...

President Yoon Suk Yeol completed a surprise visit to Tokyo last week. The two leaders of South Korea and Japan agreed to finish the 12-year-old confrontation and open a cooperative relationship toward the future. As a result, GSOMIA, or the Military Information Protection Agreement, was normalized. Japan will lift export restrictions on Korea, while Korea will drop its WTO complaint over Japan'...

In the brief but spectacular collapse of Silicon Valley Bank, we may just have witnessed the best banking crisis ever. It might even have been useful. Nobody got seriously hurt, except bank executives who made bad decisions and shareholders who weren't paying attention. Those Silicon Valley libertarians who spent years demanding that government get out of the way earned their comeuppance when ...

According to newspaper reports, today’s young people in Korea feel lucky and proud to be born in South Korea. There is a plethora of reasons. For example, recently, the United Nations dubbed South Korea as a developed country, which suits the country in every sense. Indeed, South Korea has now become a fully developed, advanced country both economically and technologically. South Korea’s economy...

Fifty years ago this month, in March 1973, the Bretton Woods arrangement of fixed exchange rates was abandoned, and the world’s major currencies -- including the US dollar, pound, yen, and Deutsche Mark -- were allowed to float. At the time, the system’s demise was generally considered a policy failure. But the shift from fixed to flexible exchange rates was probably inevitable. The internationa...

There was a time, only a few short years ago, when Saudi Arabia’s Crown Prince Mohammed bin Salman thought Iran’s supreme leader, Ayatollah Ali Khamenei, was worse than Adolf Hitler. “I believe that the Iranian supreme leader makes Hitler look good,” Prince Mohammed told The Atlantic’s Jeffrey Goldberg in a 2018 interview. Hitler may have tried to conquer Europe, he said, but Iran is “trying to c...

Ken Salazar, the US ambassador to Mexico, met with the Los Angeles Tiems for more than an hour while visiting California in November. Her was eager to talk up the celebrations surrounding the US-Mexico diplomacy bicentennial. We were eager to talk about the border. The pas de deuk featured a lot of platitudes, a couple of tense moments, and a number I can't shake: 13,000. That was the estimate S...

It is exactly one month ago that I gave a speech on the eve of the Munich Security Conference. Since then, so many remarkable things have happened -- and have happened so fast -- that it is worth comparing my predictions of a month ago with the actual developments. The biggest changes have occurred in the global climate system. By this, I mean actual climate events and climate scientists’ unders...