Every year, as June approaches, the world is reminded of one of the most significant events in modern Chinese history: the Tiananmen Square protests of 1989 and the tragedy that unfolded on June 4. More than three decades later, the Chinese Communist Party continues to censor discussion of the event inside Mainland China. References to June Fourth remain heavily restricted, and younger generations often grow up with little knowledge of what occurred.
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Reflections from the 10th Austrian Economics Meeting Europe in Angers
From May 28 to May 30, I had the privilege of participating in the 10th Austrian Economics Meeting Europe, held in the historic city of Angers, France. Events like this remind me why academic exchange remains one of the most important elements of intellectual development.
Continue readingHow Long Should It Take to Start a Business? Economic Freedom, Bureaucracy, and the Jobs Spain Never Sees
How long should a citizen have to wait before being allowed to create a firm? The question sounds administrative, but it is fundamentally economic and political. A new firm is not merely a registration in a government database. It can become a workplace, a source of income for a family, a competitor that forces established firms to improve, or the first opportunity for someone who has been unemployed to enter the labor market. When the state makes entry unnecessarily slow, expensive, or uncertain, the cost is therefore borne not only by the entrepreneur standing at the administrative counter. It is also borne by people whose jobs, wages, products, and opportunities may never come into existence.
Continue readingTrump’s Visit to Mainland China: Tactical Easing, Structural Rivalry, and the Real Taiwan Question
Donald Trump’s visit to Mainland China should not be misunderstood as the end of strategic confrontation between the United States and the Chinese Communist Party. In the short term, bilateral relations may indeed become more manageable. The two sides reportedly discussed trade, tariffs, agriculture, aviation, technology, Taiwan, and the Iranian regime; Reuters described the trade outcomes as “preliminary,” with tentative understandings rather than a grand settlement.
Continue readingWho Really Pays the Corporate Tax? Investment, Jobs, and the Politics of Taxing Firms
A corporate tax is legally paid by a corporation, but a corporation is not a person standing apart from society with an independent capacity to bear economic pain. A firm is a network of workers, owners, consumers, suppliers, and investments. When government taxes corporate profits, the legal liability may appear on the company’s tax return, but the economic burden can be distributed through lower returns to owners, weaker investment, lower wages, fewer jobs, or higher prices. This is why corporate taxation is not a technical argument about whether one sympathizes with “business.” It is a question about capital formation and, ultimately, about the opportunities available to ordinary people.
Continue readingIncentives, Burden-Sharing, and the Reconfiguration of the International Security Order
In the current international security landscape, one can observe a phenomenon that deserves careful and dispassionate analysis. The pressure exerted by Donald Trump on NATO allies—particularly regarding defense spending and strategic responsibility—has, in the short term, led several member states to reassess their own security obligations. One visible consequence has been a renewed European attention to strategic chokepoints such as the Strait of Hormuz, a vital artery for global energy flows.
This development has attracted criticism. Some argue that such pressure undermines the so-called “postwar international order.” Yet this criticism often rests on an insufficiently examined premise: that the existing order is both neutral and self-sustaining. A closer look at the historical evolution of that order suggests otherwise.
Continue readingOn the 101st Anniversary of Sun Yat-sen’s Death: The Revolution Remains Unfinished
March 12 this year marked the 101st anniversary of the death of Sun Yat-sen, the founding father of the Republic of China. In 1924, after being invited north amid efforts to address China’s political fragmentation, he journeyed toward Beijing despite already being in poor health. Historical accounts agree that after the October 1924 Beijing coup, Feng Yuxiang, working with Duan Qirui and Zhang Zuolin, sought to bring Sun north for discussions on national affairs; Sun issued his Northward Declaration in November 1924 and arrived in Beijing in December. His condition deteriorated rapidly, and he died in Beijing on March 12, 1925.
Continue readingWhy Western Europe Is Falling Behind: Welfare States, Interventionism, and the Loss of Economic Vitality
To say that Western Europe is “poor” would be inaccurate and intellectually dishonest. Compared with developing countries, Western Europe remains wealthy. But that is not the correct benchmark. The real question is whether Western Europe has reached the level of dynamism, innovation, and economic vitality that its history, institutions, and human capital should allow. On this standard, the answer is increasingly no.
Continue readingBurden Sharing, Welfare States, and the Structural Tensions Within the Transatlantic Alliance
From time to time, strong emotional reactions emerge in transatlantic political discourse. These reactions are often framed in terms of “betrayal,” “pressure,” or “coercion.” While such language may resonate rhetorically, it obscures a more fundamental issue: the long-standing imbalance in security provision within the NATO alliance.
To understand why these tensions recur, one must move beyond rhetoric and examine incentives, fiscal realities, and institutional structures.
Continue readingWhy Milei Won Argentina’s 2025 Legislative Election
Argentina’s legislative election of 26 October 2025 was not merely a midterm. It was a referendum on whether the country would continue along Javier Milei’s path of fiscal stabilization, deregulation, and market reform, or drift back toward the Peronist cycle of inflation, controls, subsidies, and policy reversals. The electorate chose continuity. Milei’s La Libertad Avanza (LLA) won about 40.8% of the national vote, became the fastest-growing force in Congress, and secured the one-third threshold in the lower house needed to help sustain presidential vetoes and strengthen his bargaining position for the second half of his term.
That result was not an accident, nor can it be reduced to charisma or media theater. It reflected a harder political fact: by late 2025, enough Argentines concluded that Milei’s policies, however painful, were producing visible macroeconomic improvement, while the opposition still represented the memory of chronic inflation, fiscal disorder, and repeated policy whiplash. Some analysts tied Milei’s stronger-than-expected result to fear of renewed turmoil if austerity and reform were abandoned; polling analysts likewise said many voters were willing to give the government more time precisely because they did not want to relive earlier crises.
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