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As NATO turns 75, Ukraine war remains a test of wills with a tyrant

Supporters of Ukraine must act quickly, lest the 75th anniversary of the key Western alliance instead marks a collapse of will and capacity in Ukraine.

The AFR View

Editorial

The AFR View

Reserve Bank ponders the market plumbing

The Reserve Bank board is repurposing the financial system as its cheap pandemic funding is flushed out. It’s doing it as financial markets are only too happy to splash the cash.

Jonathan Shapiro

Senior reporter

Jonathan Shapiro

Why boards need their strategy captured on one page

Good governance is about strategy and judgment, not compliance and process. How do boards get those things to the fore?

Catherine Livingstone

Corporate leader

Catherine Livingstone

Investors fear Fed will abandon three rate cuts this year

The sell-off in US bond markets suggests investors are anxious that stubborn US inflation will force the Fed to opt for “one and done”.

Karen Maley

Columnist

Karen Maley

Can Australia compete in the new post-inflation world?

The “new neutral” medium-term interest rate will make global competition for capital far more intense. The country needs to get ready for that.

Richard Holden

Economics professor

Richard Holden

Putin waiting for Washington to collapse if Trump wins

The Russian leader sees an opportunity to re-establish a sphere of influence in Europe if Donald Trump is re-elected US president.

Solar fantasy gives industry policy a bad name

Australia does not have a great record at industry policy. Creating a bucket of government money for solar panels in the midst of a global subsidy war looks even less likely to work.

The AFR View

Editorial

The AFR View

Boeing heard all the warnings, it just wasn’t listening

The aircraft manufacturer deliberately moved its headquarters to be away from day-to-day business. It was a disaster.

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More From Today

In his last public appearance as CEO of National Australia Bank, Ross McEwan said the government needed to lift its building policies to counter the surge in immigration.

We should be glad banks are speaking up

Australia’s big banks are at the coalface of the economy. Governments should be listening when they highlight the need for change.

  • 7 mins ago
  • Nick Hossack
An oil tanker moored at the Sheskharis complex in Novorossiysk, Russia. The country’s oil exports are supposedly capped at $US60 a barrel.

‘Cartel of aggression’ trades on timidity and self-interest

The West has enormous economic leverage over China and Russia. But fear of their own consumers prevents governments from using it.

  • 1 hr ago
  • Simon Johnson and Oleg Ustenko
The higher oil price is one factor keeping US inflation higher.

Higher oil prices, inflation and debt give investors plenty of worries

There’s little wonder US bond yields are pushing higher, sending sharemarkets lower. The big question is whether this will turn into a full-blown correction.

  • Karen Maley
US President Joe Biden with Israeli Prime Minister Benjamin Netanyahu last year.

Four reasons why Joe Biden can’t force a truce on Israel, or won’t

The United States has intervened in past Middle East wars, but for the current president, this one is different.

  • Aaron David Miller and Adam Israelevitz
Women see economics through a different lens to men.

Why women don’t stick with economics

Economic models of anything are founded on the assumption of Homo economicus. No sensible woman looks at this model and recognises herself.

  • Yanis Varoufakis
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Few countries now have a birth rate above the replacement level of 2.1 children a couple, the level needed to keep a population stable.

Population decline will destroy the West as we know it

By 2100, the number of people worldwide will have peaked. The value of assets will drop and the incomes they generate will fall.

  • Dr Stephen Davies
Even BYD has seen price cuts dent its profitability, while on Tuesday it announced that sales in the first quarter fell 42 per cent.

The big worry for car makers: what if the EV slowdown is not a blip?

If politicians cannot persuade consumers to buy EVs, will they tear up their net-zero pledges, or turn to other measures to drive sales?

  • Peter Campbell

Is Ferrari’s new supercar better as a convertible?

This droptop twin with a plug-in hybrid system follows hot on the tail of the “fun-to-drive” 296 GTB coupe.

  • Tony Davis

Yesterday

Why Australian made always wins

Readers’ letters on the government’s solar manufacturing plan; Westpac’s ambitious technology upgrade; the shift to a cashless society; mixed messages on China’s economy; and why Hamas must be forced to release its Israeli hostages.

Luke Sayers appears before the Finance and Public Administration References Committee, at Parliament House in Canberra last October 2023.

Sayers knows the importance of trust. Has he lost his in PwC scandal?

The former chief executive came off badly from a Senate inquiry, undermining years spent carefully cultivating a reputation for integrity.

  • Aaron Patrick
Energy infrastructure that cost trillions and took a century to build cannot be phased out overnight.

The energy transition is going to take time, money, and trust

Getting the great energy shift wrong will bring price spikes, blackouts and job losses, making it very difficult to maintain community and political will.

  • Richard Goyder

This Month

Federal Reserve chairman Jerome Powell on Wednesday said the labour market remained strong.

Financial markets just delivered a powerful reminder

The strength of the sharemarket amidst seemingly adverse global conditions is striking, but it comes down to two factors.

  • Mohamed A. El-Erian
A food bank in Melbourne: even many working Australians live below the poverty line.

Lift the minimum wage and help to close the poverty gap

Almost 5 million Australians live at or below the poverty line. Even a 4.9 per cent rise would go some way to help those in insecure work.

  • Michael Kennedy
Commonwealth Bank CEO Matt Comyn.

Matt Comyn’s tax reform ideas don’t warrant breathless praise

Readers’ letters on the CBA chief executive’s tax proposals, why banking regulation is still needed, the lack of research on solar equality, GST fumbles, and calls for more gas.

Big house? This new security camera can reach into every corner

Swann’s new MaxRanger4K AI-based security camera system uses a new type of WiFi with a range of hundreds of metres, if not thousands.

  • John Davidson
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Some US analysts believe that Chinese-made goods will become weaponised Trojan horses.

America and its self-defeating Sinophobes

Excessive fear of Chinese competition is blinding Americans to the real weaknesses in their economy that need to be addressed.

  • Stephen Roach
Daniel Kahneman, the author of Thinking, Fast and Slow.

The man who discovered people hate losing more than they like winning

Daniel Kahneman was one of the few psychologists to win the Nobel Prize for economics.

  • Andrew Leigh
Sam Bankman-Fried sits during his sentencing in a Manhattan federal court.

Bankman-Fried’s jailing a warning shot to crypto industry

The 25-year sentence for the former crypto mogul sends a crucial message to an industry that’s still yet to complete the clean-up it sorely needs.

  • Updated
  • Lionel Laurent
RBA governor Michele Bullock has warned that unless productivity growth picks up, the journey back to the inflation target could take longer than expected.

It’s a long and winding path that leads to a rate cut

The reality is there is still some way to go as the RBA balances the challenge of reducing inflation while keeping the economy ticking.

  • Stephen Miller
President Xi Jinping. China’s twin goals of economic modernisation and internal stability are inextricably linked, but circumstances and leadership calculations change the weight given to each objective.

China has prioritised security over economic growth

The US must avoid setting its strategic goals in a way that implies it is trying to keep China eternally weak and isolated.

  • Updated
  • David Lampton and Thomas Fingar