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Putin may be possessed by neo-imperial dreams of Russia’s place in Europe, but he is presiding over a state of affairs that has steadily given Beijing more leverage over Moscow. Far removed from the days of the Cold War when the Kremlin viewed communist China as its “poorer cousin,” Russia — isolated and enfeebled — is sliding inexorably into the role of “junior partner” to the Asian giant.

The war in Ukraine has rendered Russia increasingly dependent on China: Sanctions have curtailed the global market for its exports and thinned out possible suppliers for its exports. Enter China, whose imports from Russia have surged, jumping 80 percent in May compared with last year, largely in the form of oil and other natural resources. The Russian market, left bereft of many European products, may get all the more flooded by Chinese goods and technology in the months and even years ahead.

Gabuev suggested that current trendlines could see China’s renminbi, which has already outperformed the euro on Moscow’s stock exchange, becoming “the de facto reserve currency for Russia even without being fully convertible,” and thereby “increasing Moscow’s dependence on Beijing.”

Imbalances that already existed between both countries are only amplifying. China is edging closer to Russia as a leading arms supplier to developing countries. Russia was compelled to significantly discount oil sales to China, while Chinese car manufacturers — recognizing the paucity of options now facing Russian consumers — have in some instances raised prices for their vehicles in Russia by 50 percent

Gabuev unpacked the geopolitical ramifications of Russia’s supplication to China. “To keep China happy, Russian leaders will have little choice but to accept unfavorable terms in commercial negotiations, to support Chinese positions in international forums such as the United Nations, and even to curtail Moscow’s relations with other countries, such as India and Vietnam,”

Even in the remote scenario where Putin himself falls, it’s hard to imagine the broader tectonic realignments taking place would shift all that much. “Russia is turning into a giant Eurasian Iran: fairly isolated, with a smaller and more technologically backward economy thanks to its hostilities to the West but still too big and too important to be considered irrelevant,

With China as Russia’s biggest external partner and major diplomatic ally, Gabuev concluded, “the aging ruling elite in the Kremlin, myopically fixated on Washington, will be even more eager to serve as China’s handmaidens as it rises to become the archrival of the United States.”

“The best way for the West to deal with the China-Russia alignment is to acknowledge that these bonds are strong and to improve its own resilience and deterrence capacities,” wrote Justyna Szczudlik, a China analyst at the Polish Institute of International Affairs.

“In the 14th century, there was a systemic violence against the Jews and that’s when we see series of images that are conceived as expressions of anti-Jewish feeling,” he said. “But we need to realise that they are above all a means of building Christian ideas and beliefs: they are images that underline and reinforce the Christian identity.”

The economy that Hickel envisions would cease to pursue growth, green or otherwise. Materials and energy will still be consumed, and waste generated, but at much lower levels. All impacts on the natural world will be tethered to the question, “Growth for whom, and to what ends?” In place of an individualistic consumer economy, Hickel’s post-growth economy would direct itself toward the creation of public goods that allow the many to live well—mass transit, health care—rather than to keep a few in luxury.

A growing body of research reveals an inverse relationship between “happiness” and growth beyond a certain point.

In the rich countries, general contentment peaked in 1950, when GDP and real per capita incomes were fractions of their present size (and inequality near modern historic lows); degrowthers posit that similar happiness levels will be reclaimed on the way back down the economic mountain

Hickel describes a post-growth economy defined by stability and equality, and the freedom and leisure possible when the economy is no longer subservient to the god of growth

He estimates that the U.S. economy could be scaled down by as much as 65 percent while still improving the lives of its citizens. This includes the metric most often tied to celebrations of endless growth: life expectancy.

degrowth will entail a steep reduction across a much wider range of high-energy consumer goods. Keeping a global economy within safe ecological limits is a zero-sum game.

When limited resources are directed toward clean energy infrastructure, public health care, and regenerative agriculture, it will still be possible to build and power modern 24-hour hospitals in every city, but not to have Xbox consoles, two-car garages, and giant appliances in every home.

would have to redefine it, too.

The post-growth economy could not succeed solely by redistributing wealth; it would have to redefine it, too.

He argues that short-term growth would have to continue in those countries that have still not achieved the basic levels of sanitation, infrastructure, and education needed for a decent standard of living, to close the gap. Their larger goal, meanwhile, would be to break free from their historical role as a source of natural resources and cheap labor for the north.

For degrowth to be just, global, and effective, the sharpest reduction in consumption will have to come from the north, where the greatest damage to the planet is currently being done

Ecological economists generally agree that the safe outer limit is eight tons

One person in a low-income country has a materials footprint of roughly two tons per year, a measure of total raw materials consumed, including those embodied in imports. In lower-middle–income countries, that number is four tons; in upper-middle–income countries, 12 tons. In the high-income nations of North America, Europe, and Asia, the number leaps to 28

The wealthiest 20 percent of the human population is responsible for 90 percent of “overshoot” carbon in the atmosphere (that is, a level of carbon that exceeds the limit needed to keep global temperature rise below 2 degrees Celsius)

The planet’s richest one percent has a carbon footprint twice the size of the poorest half of the world’s population combined

For the global north, degrowth not only starts at home, it starts with the biggest houses.

Less Is More doesn’t end in a poetic appreciation for nature’s majesty, but by teasing out its implications for the political project of preserving a habitable planet. Hickel devotes much of the book to explaining that degrowth must be central to this project, promising not just survival, but real democracy, social abundance, and liberation.

Both involve broad social shifts away from private consumption and toward the production of shared public goods.

This beautiful coincidence overlaps with policy programs like the Green New Deal in important way

In July 1979, shortly after installing a set of solar panels over the West Wing, Jimmy Carter did something peculiar for a peacetime president. He asked Americans to sacrifice: to consume less, take public transit more, value community over material things, and buy bonds to fund domestic energy development, including solar

Next to Schumacher’s “Buddhist economics,” Debsian socialism was reformist tinkering. Schumacher didn’t see liberation as a matter of reshuffling the ownership and management structures of the smokestack-powered growth economy. He believed a deeper transformation was needed to maintain a livable planet. This would require new socioecological blueprints “designed for permanence.” As the left and the right battled for control over growth’s levers and spoils, Schumacher pointed out how both had become blind to the rise of growth as its own self-justifying, pan-ideological religion; its patterns of production and consumption, he observed, required “a degree of violence” that did not “fit into the laws of the universe.”

They determined that infinite growth was, in fact, impossible on a finite planet. Barring a major course correction, the team projected, growthism would result in an ecological systems breakdown sometime in the middle of the twenty-first century

This warning, detailed in the 1972 bestseller The Limits to Growth, has aged better than the scorn heaped on it

We are now witnessing what appears to be the beginnings of the collapse predicted nearly 50 years ago

In his new book, Less Is More, Jason Hickel, an anthropologist and journalist, attempts to bring a comprehensive critique of growth closer to the center of the conversation, arguing through a sweeping history of capitalism that it’s uncontrolled growth, not its controlled arrest and reversal, that is the preposterous concept.

This economic and political revolution was reinforced by a complementary scientific one that displaced the lingering animist cosmology of pre-capitalist Europe. The dualism of Francis Bacon and Descartes held reason to be distinct from and superior to matter.

The idea of limitless growth is a relatively recent one. In Less Is More, Hickel traces its origins to the enclosure of the European commons in the sixteenth century

Starving refugees were scattered and forced into a new economy defined by neo-feudal servitude and wage labor. Landowners, meanwhile, began amassing great stores of surplus wealth.

By the mid-1800s, a new “science” had arisen from these assumptions. Neoclassical economics fully abstracted the economy from the natural world. The economy was geared not toward the creation of a happy and prosperous society, but toward the perpetual growth of wealth as its own end, achieved in an inherently virtuous cycle of converting labor and resources into capital, to be accumulated and reinvested in faster and more productive conversions of labor and resources

This ideology subsumed and profaned notions about progress and morality held by the classical economists, until eventually the field even l

This process unfolded despite repeated warnings along the way. Classical economists like John Stuart Mill and, to a lesser extent, Adam Smith not only acknowledged the existence of natural limits to growth, but saw economic development as a phase; at some point, they believed, nations would create enough wealth to pursue other definitions of progres

the caveats issued by Simon Kuznets, father of the concept adopted in the twentieth century as growth’s universal and signature metric: gross domestic product. Kuznets, Hickel points out, “warned that we should never use GDP as a normal measure of economic progress,” because GDP does not distinguish between productive and destructive behavior

Most people encounter the growth debate, if they encounter it at all, through the idea of “green growth.

This is a vision for our collective future based on the belief that technological advance will drastically reduce the amount of raw materials needed to sustain growth—a process known as dematerialization—and “decouple” growing GDP from its ecological impacts.

boosters of the idea point to the transition by rich countries from manufacturing to service-based economies, as well as efficiency gains in energy and in the use of materials

The belief that green growth will save us, also known as “ecomodernism” or “ecopragmatism,” has become a trendy article of faith among elites who acknowledge climate change and the dangers of breaching ecological boundaries

n 2017, Barack Obama threw his support behind the idea in an article for Science magazine, maintaining that signs of decoupling in major economies “should put to rest the argument that combatting climate change requires accepting lower growth or a lower standard of living.”

The argument that capitalism can grow itself out of the present crisis may be soothing to those who like the world as it is. It also relies on the kind of accounting tricks and rejection of reality

By only counting the emissions created within a country that imports most of its cars, washing machines, and computers, you end up pushing the emissions related to their production off the books. When you factor them back in, the picture is much less green. A number of recent studies show no evidence of meaningful decoupling—in energy or materials—even as the world increases its use of renewable energy and finds ways to use some materials more efficiently.

Green growth, Hickel concludes, is an ecologically incoherent “fairy tale.”

consider what the ecomodernist position asks us to believe. The current system requires annual growth of roughly 3 percent to avoid the shock of recession. This means doubling the size of the economy every 23 years

he economy of 2000 must be 20 times larger in the year 2100, and 370 times larger in the year 2200.

Hickel is less interested in the macroeconomic details of this future than are growth critics based in economics departments, like Tim Jackson and Kate Raworth, and more focused on the leisure, security, and general human flourish

he makes an alluring case that degrowth does not require anything like the “command-and-control fiasco of the Soviet Union, or some back-to-the-caves, hair-shirted disaster of voluntary impoverishment.”

Attaining the benefits of the post-growth economy would, however, require what the present consumer society considers “sacrifices.

it’s not clear how many of them are ready to give up its superficial pleasures enabled by consumer debt

Among nations, there’s also the question of fairness: Wouldn’t it be unjust to impose degrowth across the world, when it’s disproportionately the countries of the global north that have spent centuries burning through the planet’s resources?

This output tracks to the one percent’s share of global wealth—a number equal to the GDP of the bottom 169 countries.

Even if you accept the argument that inequality would be best addressed by more centuries of trickle-down growth, you keep running up against the simple fact of its impossibility. Even just one more century of growth—which so far has shown no sign of taking a less destructive form—will require multiple earths

Hickel is serious about bringing the system critiques of E.F. Schumacher and others out of their traditional cloisters and into the streets, and has sought allies in this effort

emphasize what Hickel calls the “beautiful coincidence” of degrowth: that “what we need to do to survive is the same as what we need to do to have better lives.”

Both are internationalist in outlook, and see the world through a lens of climate justice as well as climate equilibrium.

that is, communicating the many benefits of moving beyond the insecurity and terrors of the current system, and building a new society that is sustainable, stable, democratic, and fundamentally better in every way.

At some point, too, the public might look up and notice that subsidizing EVs is having no effect on climate or CO2.

the 50th anniversary of the 1973 Arab oil embargo in the latest edition of New Atlantis: “The worst effect was on U.S. energy policy. Whereas the embargo lasted about five months, the toll on U.S. policy has lasted five decades and counting.”

the 50-year-old fuel-economy regime devolved into a convoluted set of political trade-offs serving—as the Biden administration recently admitted—no legitimate cost-benefit goal. Boondoggles from synfuels to corn ethanol were launched in the 1970s to honor the false god of energy independence, though thanks to the still-functioning genius of the free-market system the U.S. nevertheless blundered into true energy security with the help of fracking.

The words “energy transition” are redundant. The energy economy is always transitioning. The transitions are additive. Wind, hydro and biomass all existed before fossil fuels arrived

Energy’s uses are unlimited. This is why, unless the world improbably adopts a carbon tax, the effect of green-energy subsidies (aside from enriching their backers) is largely to stimulate increased energy consumption rather than reduce CO2. This effect is already apparent in the numbers.

another ’70s legacy: our least-useful professors invoking big-oil stereotypes in pursuit of political goals.

Witness a New York Times op-ed this week combining adventurous antitrust reasoning with tired anti-Exxon tropes, claiming a proposed oil merger represents a “direct threat to democracy” by somehow blocking a solution to climate change that voters apparently crave even though it doesn’t exist.

Exxon controls less than 3% of the world’s oil and gas, most of which are in the hands of governments. The U.S. is responsible for less than 15% of global CO2 emissions.

What older Americans remember as the oil crisis was a product of domestic price controls, imposed by people in the Nixon administration who knew better.

Along the way, the country did manage to remove lead from gasoline and mandate catalytic converters, which improved air quality, showing that rational, economical policy outcomes are still possible amid the vast politicized waste that “energy policy” has otherwise become in the last 50 years.

Then, in March 2022, the Fed changed course, first tightening the money supply by increasing the federal-funds rate and then introducing quantitative tightening. Between July 2022 and August 2023, the M2 supply contracted by 3.9%, the most extreme contraction since 1933.

The first factor contributing to the contraction of the money supply is the Fed’s quantitative tightening

Quantitative tightening has already produced a dramatic selloff in the bond market. But just as they did ahead of the September 2019 crunch in the repurchase-agreement market, Fed officials keep repeating their mistaken mantras that quantitative tightening can operate “in the background” and “on autopilot,” implying minimal market effect

But basic balance-sheet accounting shows that unless commercial banks are creating enough “new money” through their lending activity to offset the Fed’s balance-sheet shrinkage, quantitative tightening has a contractionary effect on the money supply.

The second factor contributing to shrinking M2 is the decreased availability of commercial bank credit—the sum of loans and bank holdings of securities. With the steep rise in rates, bank lending has slowed, and banks have been selling off securities.

This brings us to the stock-market crash of 1987. In that year the key 10-year bond yield rose steeply from January onward (from 7% in January to 10% by Black Monday in October) and the money supply slowed sharply.

In 1987 growth of M2 declined by almost half, from 9.7% year-on-year in January to 4.9% in September, while M3—no longer published by the Fed—slowed from 8.7% to 3.6% over the same period

A bond-market crunch and monetary squeeze together led to a sudden, drastic reassessment of equity-market valuations. The same could happen today, particularly since the current jump in bond yields and monetary squeeze are much more pronounced than in 1987.

So far, only the remaining excess money the Fed created between 2020 and 2021—the cumulative excess savings from the Covid handouts—has been keeping businesses hiring and consumers spending. The effects of the excess money are still giving the economy a lift, but that extra fuel is almost exhausted. When it dries up, the economy will run on fumes.

In all of this, an appreciation for time lags is critical. The Fed ignored the huge acceleration in the quantity of money and thus failed to anticipate the ensuing inflation. When inflation struck in early 2021, Fed officials tried to argue it was “transitory,” caused by supply-chain disruptions.

The Fed continues to ignore the money supply, and we now face the opposite problem. The money supply has been contracting for 18 months, and soon, after the overhanging extra money from 2020-21 has been used up, spending will plunge and inflation will fall, not simply to 2%, but below—and perhaps even into deflation in 2025.

Since Fed officials pay no attention to either monetary aggregates or their credit counterparts, they are overlooking these signals

Monetary analysis tells a very different story than the measures the Fed follows. The first effect of a monetary contraction is higher market interest rates for a brief period. Then comes an economic slump. The economy goes into recession and inflation falls. This results in a second and more permanent effect of subpar money growth, namely lower interest rates and a weaker currency.

They were offering nearly unlimited cheap debt to keep the wheels of finance turning, and when that didn’t help, the Fed began purchasing massive quantities of government debt outright.

Investors dumped whatever they could, including ostensibly “risk-free” U.S. Treasury securities. As a global dash for dollars unfolded, Treasurys were no longer serving as the market’s traditional shock absorbers, amplifying extreme turmoil on Wall Street.

By week’s end, the Dow had plunged more than 10,000 points since mid-February as investors struggled to get their arms around what a halt to global commerce would mean for businesses that would soon have no revenue.

“It was sheer, unadulterated panic, of a magnitude that was far worse than in 2008 and 2009. Far worse,”

The idea of shutting down markets was especially discouraging: “It was a profoundly un-American thing to contemplate, to just shut everything down, and almost fatalistic—that we’re not going to get out of this.”

nearly two years later, most agree that the Fed’s actions helped to save the economy from going into a pandemic-induced tailspin.

“My thought was—I remember this very clearly—‘O.K. We have a four-or-five-day chance to really get our act together and get ahead of this. We’re gonna try to get ahead of this,’” Mr. Powell recalled later. “And we were going to do that by just announcing a ton of stuff on Monday morning.”

It worked. The Fed’s pledges to backstop an array of lending, announced on Monday, March 23, would unleash a torrent of private borrowing based on the mere promise of central bank action—together with a massive assist by Congress, which authorized hundreds of billions of dollars that would cover any losses.

If the hardest-hit companies like Carnival, with its fleet of 104 ships docked indefinitely, could raise money in capital markets, who couldn’t?

on April 9, where he shed an earlier reluctance to express an opinion about government spending policies, which are set by elected officials and not the Fed. He spoke in unusually moral terms. “All of us are affected,” he said. “But the burdens are falling most heavily on those least able to carry them…. They didn’t cause this. Their business isn’t closed because of anything they did wrong. This is what the great fiscal power of the United States is for—to protect these people as best we can from the hardships they are facing.”

They were extraordinary words from a Fed chair who during earlier, hot-button policy debates said the central bank needed to “stay in its lane” and avoid providing specific advice.

To avoid a widening rift between the market haves (who had been given access to Fed backstops) and the market have-nots (who had been left out because their debt was deemed too risky), Mr. Powell had supported a decision to extend the Fed’s lending to include companies that were being downgraded to “junk” status in the days after it agreed to backstop their bonds.

Most controversially, Mr. Powell recommended that the Fed purchase investment vehicles known as exchange-traded funds, or ETFs, that invest in junk debt. He and his colleagues feared that these “high-yield” bonds might buckle, creating a wave of bankruptcies that would cause long-term scarring in the economy.

Mr. Powell decided that it was better to err on the side of doing too much than not doing enough.

, Paul Singer, who runs the hedge-fund firm Elliott Management, warned that the Fed was sowing the seeds of a bigger crisis by absolving markets of any discipline. “Sadly, when people (including those who should know better) do something stupid and reckless and are not punished,” he wrote, “it is human nature that, far from thinking that they were lucky to have gotten away with something, they are encouraged to keep doing the stupid thing.”

The breathtaking speed with which the Fed moved and with which Wall Street rallied after the Fed’s announcements infuriated Dennis Kelleher, a former corporate lawyer and high-ranking Senate aide who runs Better Markets, an advocacy group lobbying for tighter financial regulations.

This is a ridiculous discussion no matter how heartfelt Powell is about ‘we can’t pick winners and losers’—to which my answer is, ‘So instead you just make them all winners?’”

“Literally, not only has no one in finance lost money, but they’ve all made more money than they could have dreamed,” said Mr. Kelleher. “It just can’t be the case that the only thing the Fed can do is open the fire hydrants wide for everybody

Mr. Powell later defended his decision to purchase ETFs that had invested in junk debt. “We wanted to find a surgical way to get in and support that market because it’s a huge market, and it’s a lot of people’s jobs… What were we supposed to do? Just let them die and lose all those jobs?” he said. “If that’s the biggest mistake we made, stipulating it as a mistake, I’m fine with that. It wasn’t time to be making finely crafted judgments,” Mr. Powell said. He hesitated for a moment before concluding. “Do I regret it? I don’t—not really.”

“We didn’t know there was a vaccine coming. The pandemic is just raging. And we don’t have a plan,” said Mr. Powell. “Nobody in the world has a plan. And in hindsight, the worry was, ‘What if we can’t really fully open the economy for a long time because the pandemic is just out there killing people?’”

Mr. Powell never saw this as a particularly likely outcome, “but it was around the edges of the conversation, and we were very eager to do everything we could to avoid that outcome,”

The Fed’s initial response in 2020 received mostly high marks—a notable contrast with the populist ire that greeted Wall Street bailouts following the 2008 financial crisis. North Carolina Rep. Patrick McHenry, the top Republican on the House Financial Services Committee, gave Mr. Powell an “A-plus for 2020,” he said. “On a one-to-10 scale? It was an 11. He gets the highest, highest marks, and deserves them. The Fed as an institution deserves them.”

The pandemic was the most severe disruption of the U.S. economy since the Great Depression. Economists, financial-market professionals and historians are only beginning to wrestle with the implications of the aggressive response by fiscal and monetary policy makers.

Altogether, Congress approved nearly $5.9 trillion in spending in 2020 and 2021. Adjusted for inflation, that compares with approximately $1.8 trillion in 2008 and 2009.

By late 2021, it was clear that many private-sector forecasters and economists at the Fed had misjudged both the speed of the recovery and the ways in which the crisis had upset the economy’s equilibrium. Washington soon faced a different problem. Disoriented supply chains and strong demand—boosted by government stimulus—had produced inflation running above 7%.

because the pandemic shock was akin to a natural disaster, it allowed Mr. Powell and the Fed to sidestep concerns about moral hazard—that is, the possibility that their policies would encourage people to take greater risks knowing that they were protected against larger losses. If a future crisis is caused instead by greed or carelessness, the Fed would have to take such concerns more seriously.

The high inflation that followed in 2021 might have been worse if the U.S. had seen more widespread bankruptcies or permanent job losses in the early months of the pandemic.

an additional burst of stimulus spending in 2021, as vaccines hastened the reopening of the economy, raised the risk that monetary and fiscal policy together would flood the economy with money and further fuel inflation.

The surge in federal borrowing since 2020 creates other risks. It is manageable for now but could become very expensive if the Fed has to lift interest rates aggressively to cool the economy and reduce high inflation.

The Congressional Budget Office forecast in December 2020 that if rates rose by just 0.1 percentage point more than projected in each year of the decade, debt-service costs in 2030 would rise by $235 billion—more than the Pentagon had requested to spend in 2022 on the Navy.

its low-rate policies have coincided with—and critics say it has contributed to—a longer-running widening of wealth inequality.

In 2008, household wealth fell by $8 trillion. It rose by $13.5 trillion in 2020, and in the process, spotlighted the unequal distribution of wealth-building assets such as houses and stocks.

Without heavy spending from Washington, focused on the needs of the least well-off, these disparities might have attracted more negative scrutiny.

Finally, the Fed is a technocratic body that can move quickly because it operates under few political constraints. Turning to it as the first line of defense in this and future crises could compromise its institutional independence.

Step one, he said, was to get in the fight and try to win. Figuring out how to exit would be a better problem to have, because it would mean they had succeeded.

“We have a recovery that looks completely unlike other recoveries that we’ve had because we’ve put so much support behind the recovery,” Mr. Powell said last month. “Was it too much? I’m going to leave that to the historians.”

The final verdict on the 2020 crisis response may turn on whether Mr. Powell is able to bring inflation under control without a painful recession—either as sharp price increases from 2021 reverse on their own accord, as officials initially anticipated, or because the Fed cools down the economy by raising interest rates.

Russians don’t run on their banks, because they believe that in a real crunch, the Russian central bank would provide the needed cash. After all, the Russian central bank holds enormous quantities of reserves: $630 billion at the last tally

To finance its war on Ukraine, Russia might have hoped to draw down its foreign-currency reserves with Western central banks.

Not so fast, argues Bernstam. What does it mean that Russia “has” X or Y in foreign reserves? Where do these reserves exist? The dollars, euros, and pounds owned by the Russian central bank—Russia may own them, but Russia does not control them. Almost all those hundreds of billions of Russian-owned assets are controlled by foreign central banks.

We, the people of the Western world collectively owe the Russian state hundreds of billions of dollars. That’s not our problem. That’s Russia’s problem, an enormous one. Because one thing any debtor can do is … not pay when asked.

With $630 billion in reserves, there is no way Russia would ever run out of foreign currency. You’ve probably read that assertion many times in the past few days

All of this requires the cooperation of the Fed or ECB in the first place. The Fed or ECB could say: “Nope. Sorry. The Russian central bank’s money is frozen. No transfers of dollars or euros from the Russian central bank to commercial banks. No transfers from commercial banks to businesses or individuals. For all practical purposes, you’re broke.”

if Russia’s foreign income slows at the same time as it is waging a hugely costly war against Ukraine, it will need its reserves badly. And suddenly, it will be as if the money disappeared. Every Russian person, individual, or state entity with any kind of obligation denominated in foreign currency would be shoved toward default.

Of course, long before any of that happened, everybody involved in the transactions would have panicked.

The ruble would cease to be a convertible currency. It would revert to being the pseudo-currency of Soviet times: something used for record-keeping purposes inside Russia, but without the ability to buy goods or services on international markets. The Russian economy would close upon itself, collapsing into as much self-sufficiency as possible for a country that produces only basic commodities.

Russia imports almost everything its citizens eat, wear, and use. And in the modern digitized world, that money cannot be used without the agreement of somebody’s central bank. You could call it Bernstam’s law: “Do not fight with countries whose currencies you use as a reserve currency to maintain your own.”

There is one exception to the rule about reserves as notations: About $132 billion of Russia’s reserves takes the form of physical gold in vaults inside Russia

Only one customer is rich enough to take significant gold from a sanctioned nation like Russia: China.

that does not solve the real problem, which is not to buy specific items from specific places, but to sustain the ruble as a currency that commands confidence from Russia’s own people. China cannot do that for Russians. Only the Western central banks can.

Putin launched his war against Ukraine in part to assert Russia’s great-power status—a war to make Russia great again. Putin seemingly did not understand that violence is only one form of power, and not ultimately the most decisive

The power Putin is about to feel is the power of producers against gangsters, of governments that inspire trust against governments that rule by fear.

Russia depends on the dollar, the euro, the pound, and other currencies in ways that few around Putin could comprehend. The liberal democracies that created those trusted currencies are about to make Putin’s cronies feel what they never troubled to learn. Squeeze them.

Women planning to join the Aurat Marches, as they are called — Urdu for “women’s march” — have faced countless threats of murder and rape, along with accusations that they receive Western funding as part of a plot to promote obscenity in Pakistan.

Last year, opposition peaked when Islamist groups demonstrated in major cities, accusing the marchers of using blasphemous slogans — a crime punishable by death in Pakistan, accusations of which have provoked lynchings and murders.

The first Aurat March was organized by a small group of women in the port city of Karachi, who hoped to draw attention to the violence, inequality and other challenges faced by women across the country.

“We had held discussions and mobilized women in various communities, collected funds by small contributions from individuals, and wrote a manifesto to articulate demands related to women’s bodily rights to the government and Pakistani society,” Ms. Kermani said.

“Younger feminists who were inspired by a series of global women’s marches took their rage against violence, moral policing and lack of bodily or sexual choices for women and marginalized genders to the streets,” s

“My body, my choice,” and performed an Urdu version of a Chilean protest song, “A Rapist in Your Path,” that assails rape culture and victim-shaming.

the protesters had even highlighted L.G.B.T.Q. rights, a bold move in Pakistan.

Some Islamist parties responded to the marches’ growing popularity by organizing their own “modesty march.” In 2020, conservatives filed court petitions in an unsuccessful attempt to stop the Aurat Marches.

A newspaper published a front-page story that referred to the marchers as prostitutes.

“If the government allows the march, we will use a baton to stop it.”

“Save our daughters.”

“As a minority, we feel increasingly insecure,” Mrs. Masih said. “At the workplace, we fear anyone can harm us on the false allegations of blasphemy, and at our homes, we fear that our daughters could be kidnapped and converted to Islam

They campaigned against the physically intrusive “virginity tests” often inflicted on women who bring accusations of rape, and a court in the northern city of Lahore banned them last year. The government has also passed a measure allowing the chemical castration of convicted rapists, another demand of the marchers.

“We were and are scared, but we know that without putting ourselves in such a dangerous situation we cannot bring change,” Ms. Kermani said.

“I don’t see anything wrong with it; I don’t blame other people for doing it,” Carter says over dinner. “It just never had been my ambition to be rich.”

Carter decided that his income would come from writing, and he has written 33 books, about his life and career, his faith, Middle East peace, women’s rights, aging, fishing, woodworking, even a children’s book written with his daughter, Amy Carter, called “The Little Baby Snoogle-Fleejer.”

Carter costs U.S. taxpayers less than any other ex-president, according to the General Services Administration, with a total bill for him in the current fiscal year of $456,000, covering pensions, an office, staff and other expenses.

Carter is the only president in the modern era to return full-time to the house he lived in before he entered politics — a two-bedroom rancher assessed at $167,000, less than the value of the armored Secret Service vehicles parked outside.

Ex-presidents often fly on private jets, sometimes lent by wealthy friends, but the Carters fly commercial. Stuckey says that on a recent flight from Atlanta to Los Angeles, Carter walked up and down the aisle greeting other passengers and taking selfies.

“He doesn’t like big shots, and he doesn’t think he’s a big shot,” said Gerald Rafshoon, who was Carter’s White House communications director.

With book income and the $210,700 annual pension all former presidents receive, the Carters live comfortably. But his books have never fetched the massive sums commanded by more recent presidents.

Carter’s office costs a fraction of Obama’s, which is $536,000 a year. Clinton’s costs $518,000, George W. Bush’s is $497,000 and George H.W. Bush’s is $286,000, according to the GSA.

Carter doesn’t even have federal retirement health benefits because he worked for the government for four years — less than the five years needed to qualify, according to the GSA. He says he receives health benefits through Emory University, where he has taught for 36 years.

The federal government pays for an office for each ex-president. Carter’s, in the Carter Center in Atlanta, is the least expensive, at $115,000 this year. The Carters could have built a more elaborate office with living quarters, but for years they slept on a pullout couch for a week each month. Recently, they had a Murphy bed installed.

“He didn’t feel suited to the grandeur,” Eizenstat said. “Plains is really part of his DNA. He carried it into the White House, and he carried it out of the White House.”

“I am a great admirer of Harry Truman. He’s my favorite president, and I really try to emulate him,” says Carter, who writes his books in a converted garage in his house. “He set an example I thought was admirable.”

The Jimmy Carter National Historic Site is essentially the entire town, drawing nearly 70,000 visitors a year and $4 million into the county’s economy.

That’s less than half the $952,000 budgeted for George H.W. Bush; the three other living ex-presidents — Clinton, George W. Bush and Obama — cost taxpayers more than $1 million each per year.

Carter’s gait is a little unsteady these days, three years after a diagnosis of melanoma on his liver and brain. At a 2015 news conference to announce his illness, he seemed to be bidding a stoic farewell, saying he was “perfectly at ease with whatever comes.”

In October, he will become the second president ever to reach 94; George H.W. Bush turned 94 in June. These days, Carter is sharp, funny and reflective.

The Carters walk every day — often down Church Street, the main drag through Plains, where they have been walking since the 1920s.

“I grew up in church with him,” says Maya Wynn. “He’s a nice guy, just like a regular person.”

“He’s a good ol’ Southern gentleman,” says David Lane.

Carter says this place formed him, seeding his beliefs about racial equality. His farmhouse youth during the Great Depression made him unpretentious and frugal. His friends, maybe only half-joking, describe Carter as “tight as a tick.”

That no-frills sensibility, endearing since he left Washington, didn’t work as well in the White House. Many people thought Carter scrubbed some of the luster off the presidency by carrying his own suitcases onto Air Force One and refusing to have “Hail to the Chief” played.

Stuart E. Eizenstat, a Carter aide and biographer, said Carter’s edict eliminating drivers for top staff members backfired. It meant that top officials were driving instead of reading and working for an hour or two every day.

Carter has used his post-presidency to support human rights, global health programs and fair elections worldwide through his Carter Center, based in Atlanta. He has helped renovate 4,300 homes in 14 countries for Habitat for Humanity, and with his own hammer and tool belt, he will be working on homes for low-income people in Indiana later this month.

When Carter looks back at his presidency, he says he is most proud of “keeping the peace and supporting human rights,” the Camp David accords that brokered peace between Israel and Egypt, and his work to normalize relations with China. In 2002, he was awarded the Nobel Peace Prize for his efforts.

“I always told the truth,” he says.

Carter says he thinks the Supreme Court’s Citizens United decision has “changed our political system from a democracy to an oligarchy. Money is now preeminent. I mean, it’s just gone to hell now.”

He says he believes that the nation’s “ethical and moral values” are still intact and that Americans eventually will “return to what’s right and what’s wrong, and what’s decent and what’s indecent, and what’s truthful and what’s lies.”

They are asked if there is anything they want but don’t have. “I can’t think of anything,” Carter says, turning to Rosalynn. “And you?” “No, I’m happy,” she says.

They watch Atlanta Braves games or “Law and Order.” Carter just finished reading “The Innovators” by Walter Isaacson. They have no chef and they cook for themselves, often together. They make their own yogurt.

the most explosive growth has been in Indigenous, independent Pentecostal churches

we ought to start talking about a new family of “spiritual” churches that have no historical ties to Western church traditions. These “spiritual” churches are largely not a result of colonial missions.

we tend to associate Christianity with white Westerners and European influence. At this point, our assumptions about this need to change. The largest church congregation in the world belongs to Yoido Full Gospel Church in Seoul, an Assemblies of God church, which has around 480,000 members

even conservative estimates guess there were around 98 million evangelical Christians globally in 1970. Now, there are over 342 million.

as Christianity booms overseas, more Christians are migrating to the United States. But there’s also evidence that migrants who come to here are finding immigrant-led churches and converting to Christianity after they arrive. These trends, George told me, are “globalizing American Christianity.”

Today, the three largest Protestant churches in Paris are Afro-Caribbean evangelical megachurches of a charismatic or Pentecostal bent

Immigration has been a huge factor in the demographic growth of the United States over the past decade. Much of that growth is attributable to Latinos, who now number around 62 million and represent just under 20 percent of the United States population. Some projections estimate that by 2060 there will be 111 million Latinos in the United States, constituting 28 percent of the population.

Latino evangelicals are the fastest growing segment of evangelicals in the country. It also said that “Latino Protestants, in particular, have higher levels of religiosity”

as of 2021, Pew reported that 29 percent of all adults identified as atheists, agnostics or “nothing in particular.”

alongside that trend, the changing demographics of Christianity promise to transform faith and religious discourse. We cannot assume that America will become more secular so long as the future of America is less white

it is difficult to provide definite statistics on how many evangelical and Pentecostal churches in America are led by Latinos, immigrants or other nonwhite or non-English-speaking pastors because many of these churches are small, non-organized and grass roots.

the standard American religious survey categories no longer account for the realities expressed in the church in America. “White evangelicalism,” “Protestant mainline” and “progressive” are categories that are largely defined by a white majority.

This “browning” of the church in America, as some scholars call it, scrambles all the categories. What we are seeing isn’t simply that white evangelicalism is changing; it’s that something new is emerging.

most hold convictions that overlap with traditional evangelicalism in substantial ways. They are by and large traditionally conservative about sexuality and marriage. They hold an authoritative view of the Bible and believe in miracles and supernatural occurrences.

But they tend to be more committed to social justice and, in George’s words, “communitarian” than many white evangelicals.

when he visits churches in Brazil and Argentina, “Sometimes the Catholics are more evangelical and Pentecostal” than even typical white evangelicals in America.

This influx of nonwhite believers will challenge white religious conservatives to choose between xenophobia and building alliances with immigrants who share their views on social issues.

These trends will also challenge them to unbundle their religious views on social issues from a kind of libertarian economics that harms those who are less wealthy

The future of American Christianity now appears to be a multiethnic community that is largely led by immigrants or the children of immigrants. And that reality ought to change our present conversations about religion in America.

Mr. Khamenei’s ruling philosophy has been shaped and reinforced by three notable authoritarian collapses: The 1979 fall of Iran’s monarchy, the 1991 dissolution of the Soviet Union and the Arab uprisings of 2011. His takeaway from each of these events has been to never compromise under pressure and never compromise on principles.

The Iranian regime’s repressive capacity — at least on paper — remains formidable. Ayatollah Khamenei is commander in chief of 190,000 armed members of the Islamic Revolutionary Guard Corps, who oversee tens of thousands of Basij militants tasked with instilling public fear and morality.

Iran’s nonideological conscription army, whose active forces are an estimated 350,000, is unlikely to take part in mass repression

Until now, the political and financial interests of Ayatollah Khamenei and the Revolutionary Guards have been intertwined. But persistent protests and chants of “Death to Khamenei” might change that

The sociologist Charles Kurzman wrote in his seminal book, “The Unthinkable Revolution in Iran,” that the paradox of revolutionary movements is that they are not viable until they attract a critical mass of supporters but that to attract a critical mass of supporters, they must be perceived as viable.

If the organizing principle that united Iran’s disparate opposition forces in 1979 was anti-imperialism, the organizing principles of today’s socioeconomically and ethnically diverse movement are pluralism and patriotism.

The faces of this movement are not ideologues or intellectuals but athletes, musicians and ordinary people, especially women and ethnic minorities, who have shown uncommon courage. Their slogans are patriotic and progressive — “We will not leave Iran, we will reclaim Iran,” and “Women, life, freedom.”

The demands of the current movement are brilliantly distilled in Shervin Hajipour’s song “Baraye,” or “For,” which has become the anthem of the protests and articulates a “yearning for a normal life” rather than the “forced paradise” of a religious police state.

Abbas Amanat, a historian of Iran, observed that one of the keys to Iran’s civilizational longevity, which dates to the Persian Empire of 2,500 years ago, is the power of its culture to co-opt its military invaders. “For nearly two millenniums, Persian political culture and, in a broader sense, a repository of Persian civilizational tools successfully managed to convert Turkic, Arab and Mongolian conquerors,” he told me. “Persian language, myth, historical memories and timekeeping endured. Iranians persuaded invaders to appreciate a Persian high culture of poetry, food, painting, wine, music, festivals and etiquette.”

When Ayatollah Khomeini acquired power in 1979, he led a cultural revolution that sought to replace Iranian patriotism with a purely Islamic identity. Ayatollah Khamenei continues that tradition, but he is one of the few remaining true believers. While the Islamic Republic sought to subdue Iranian culture, it is Iranian culture and patriotism that are threatening to undo the Islamic Republic.

Four decades of the Islamic Republic’s hard power will ultimately be defeated by two millenniums of Iranian cultural soft power. The question is no longer about whether this will happen but when.

it is easy to forget how much we have in common as people. I can’t think of any major nation after the United States with more of a Protestant work ethic and naturally capitalist population than China.

These days, it is extremely difficult for a visiting columnist to get anyone — a senior official or a Starbucks barista — to speak on the record. It was not that way a decade ago.

The Communist Party’s hold is also a product of all the hard work and savings of the Chinese people, which have enabled the party and the state to build world-class infrastructure and public goods that make life for China’s middle and lower classes steadily better.

Beijing and Shanghai, in particular, have become very livable cities, with the air pollution largely erased and lots of new, walkable green spaces.

some 900 cities and towns in China are now served by high-speed rail, which makes travel to even remote communities incredibly cheap, easy and comfortable

Just when trust has become more important than ever between the U.S. and China, it also has become scarcer than ever. Bad trend.

China’s stability is a product of both an increasingly pervasive police state and a government that has steadily raised standards of living. It’s a regime that takes both absolute control and relentless nation-building seriously.

For an American to fly from New York’s Kennedy Airport into Beijing Capital International Airport today is to fly from an overcrowded bus terminal to a Disney-like Tomorrowland.

China got an early jump on A.I. in two realms — facial recognition technology and health records — because there are virtually no privacy restrictions on the government’s ability to build huge data sets for machine learning algorithms to find patterns.

“ChatGPT is prompting some people to ask if the U.S. is rising again, like in the 1990s,”

“I understand your feeling: You have been in the first place for a century, and now China is rising, and we have the potential to become the first — and that is not easy for you,” Hu said to me. But “you should not try to stop China’s development. You can’t contain China in the end. We are quite smart. And very diligent. We work very hard. And we have 1.4 billion people.”

Before the Trump presidency, he added: “We never thought China-U.S. relations would ever become so bad. Now we gradually accept the situation, and most Chinese people think there is no hope for better relations. We think the relationship will be worse and worse and hope that war will not break out between our two countries.”

A lot of people hesitated when I asked. Indeed, many would answer with some version of “I’m not sure, I just know that it’s THEIR fault.”

t was repeated conversations like these that got me started asking American, Chinese and Taiwanese investors, analysts and officials a question that has been nagging at me for a while: What exactly are America and China fighting about?

the real answer is so much deeper and more complex than just the usual one-word response — “Taiwan” — or the usual three-word response — “autocracy versus democracy.”

Let me try to peel back the layers. The erosion in U.S.-China relations is a result of something old and obvious — a traditional great-power rivalry between an incumbent power (us) and a rising power (China) — but with lots of new twists

One of the twists, though, is that this standard-issue great-power rivalry is occurring between nations that have become as economically intertwined as the strands of a DNA molecule. As a result, neither China nor America has ever had a rival quite like the other.

in modern times, China, like America, has never had to deal with a true economic and military peer with which it was also totally intertwined through trade and investment.

Another new twist, and a reason it’s hard to define exactly what we’re fighting about, has a lot to do with how this elusive issue of trust and the absence of it have suddenly assumed much greater importance in international affairs.

This is a byproduct of our new technological ecosystem in which more and more devices and services that we both use and trade are driven by microchips and software, and connected through data centers in the cloud and high-speed internet

so many more things became “dual use.” That is, technologies that can easily be converted from civilian tools to military weapons, or vice versa.

no one country or company can own the whole supply chain. You need the best from everywhere, and that supply chain is so tightly intertwined that each company has to trust the others intimately.

when we install the ability to sense, digitize, connect, process, learn, share and act into more and more things — from your GPS-enabled phone to your car to your toaster to your favorite app — they all become dual use, either weapons or tools depending on who controls the software running them and who owns the data that they spin off.

As long as most of what China sold us was shallow goods, we did not care as much about its political system — doubly so because it seemed for a while as if China was slowly but steadily becoming more and more integrated with the world and slightly more open and transparent every year. So, it was both easy and convenient to set aside some of our worries about the dark sides of its political system.

when you want to sell us ‘deep goods’ — goods that are dual use and will go deep into our homes, bedrooms, industries, chatbots and urban infrastructure — we don’t have enough trust to buy them. So, we are going to ban Huawei and instead pay more to buy our 5G telecom systems from Scandinavian companies we do trust: Ericsson and Nokia.”

as we’ve seen in Ukraine, a smartphone can be used by Grandma to call the grandkids or to call a Ukrainian rocket-launching unit and give it the GPS coordinates of a Russian tank in her backyard.

So today, the country or countries that can make the fastest, most powerful and most energy efficient microchips can make the biggest A.I. computers and dominate in economics and military affairs.

As more and more products and services became digitized and electrified, the microchips that powered everything became the new oil. What crude oil was to powering 19th- and 20th-century economies, microchips are for powering 21st-century economies.

When you ask them what is the secret that enables TSMC to make 90 percent of the world’s most advanced logic chips — while China, which speaks the same language and shares the same recent cultural history, makes zero — their answer is simple: “trust.”

TSMC is a semiconductor foundry, meaning it takes the designs of the most advanced computer companies in the world — Apple, Qualcomm, Nvidia, AMD and others — and turns the designs into chips that perform different processing functions

TSMC makes two solemn oaths to its customers: TSMC will never compete against them by designing its own chips and it will never share the designs of one of its customers with another.

“Our business is to serve multiple competitive clients,” Kevin Zhang, senior vice president for business development at TSMC, explained to me. “We are committed not to compete with any of them, and internally our people who serve customer A will never leak their information to customer C.”

But by working with so many trusted partners, TSMC leverages the partners’ steadily more complex designs to make itself better — and the better it gets, the more advanced designs it can master for its customers. This not only requires incredibly tight collaboration between TSMC and its customers, but also between TSMC and its roughly 1,000 critical local and global suppliers.

As the physics of chip making gets more and more extreme, “the investment from customers is getting bigger and bigger, so they have to work with us more closely to make sure they harvest as much [computing power] as they can. They have to trust you.”

China also has a foundry, Semiconductor Manufacturing International Corporation, which is partly state-owned. But guess what? Because no global chip designers trust SMIC with their most advanced designs, it is at least a decade behind TSMC.

It’s for these reasons that the erosion in U.S.-China relations goes beyond our increasingly sharp disagreements over Taiwan. It is rooted in the fact that just when trust, and its absence, became much bigger factors in international affairs and commerce, China changed its trajectory. It made itself a less trusted partner right when the most important technology for the 21st century — semiconductors — required unprecedented degrees of trust to manufacture and more and more devices and services became deep and dual use.

when American trade officials said: “Hey, you need to live up to your W.T.O. commitments to restrict state-funding of industries,” China basically said: “Why should we live by your interpretation of the rules? We are now big enough to make our own interpretations. We’re too big; you’re too late.”

Combined with China’s failure to come clean on what it knew about the origins of Covid-19, its crackdown on democratic freedoms in Hong Kong and on the Uyghur Muslim minority in Xinjiang, its aggressive moves to lay claim to the South China Sea, its increasing saber rattling toward Taiwan, its cozying up to Vladimir Putin (despite his savaging of Ukraine), Xi’s moves toward making himself president for life, his kneecapping of China’s own tech entrepreneurs, his tighter restrictions on speech and the occasional abduction of a leading Chinese businessman — all of these added up to one very big thing: Whatever trust that China had built up with the West since the late 1970s evaporated at the exact moment in history when trust, and shared values, became more important than ever in a world of deep, dual-use products driven by software, connectivity and microchips.

it started to matter a lot more to Western nations generally and the United States in particular that this rising power — which we were now selling to or buying from all sorts of dual-use digital devices or apps — was authoritarian.

eijing, for its part, argues that as China became a stronger global competitor to America — in deep goods like Huawei 5G — the United States simply could not handle it and decided to use its control over advanced semiconductor manufacturing and other high-tech exports from America, as well as from our allies, to ensure China always remained in our rearview mirror

Beijing came up with a new strategy, called “dual circulation.” It said: We will use state-led investments to make everything we possibly can at home, to become independent of the world. And we will use our manufacturing prowess to make the world dependent on our exports.

Chinese officials also argue that a lot of American politicians — led by Trump but echoed by many in Congress — suddenly seemed to find it very convenient to put the blame for economic troubles in the U.S.’s middle class not on any educational deficiencies, or a poor work ethic, or automation or the 2008 looting by financial elites, and the crisis that followed, but on China’s exports to the United States.

As Beijing sees it, China not only became America’s go-to boogeyman, but in their frenzy to blame Beijing for everything, members of Congress started to more recklessly promote Taiwan’s independence.

Xi told President Biden at their summit in Bali in November, in essence: I will not be the president of China who loses Taiwan. If you force my hand, there will be war. You don’t understand how important this is to the Chinese people. You’re playing with fire.

at some level Chinese officials now understand that, as a result of their own aggressive actions in recent years on all the fronts I’ve listed, they have frightened both the world and their own innovators at precisely the wrong time.

I don’t buy the argument that we are destined for war. I believe that we are doomed to compete with each other, doomed to cooperate with each other and doomed to find some way to balance the two. Otherwise we are both going to have a very bad 21st century.

I have to say, though, Americans and Chinese remind me of Israelis and Palestinians in one respect: They are both expert at aggravating the other’s deepest insecurities.

China’s Communist Party is now convinced that America wants to bring it down, which some U.S. politicians are actually no longer shy about suggesting. So, Beijing is ready to crawl into bed with Putin, a war criminal, if that is what it takes to keep the Americans at bay.

Americans are now worried that Communist China, which got rich by taking advantage of a global market shaped by American rules, will use its newfound market power to unilaterally change those rules entirely to its advantage. So we’ve decided to focus our waning strength vis-à-vis Beijing on ensuring the Chinese will always be a decade behind us on microchips.

I don’t know what is sufficient to reverse these trends, but I think I know what is necessary.

If it is not the goal of U.S. foreign policy to topple the Communist regime in China, the United States needs to make that crystal clear, because I found a lot more people than ever before in Beijing think otherwise.

As for China, it can tell itself all it wants that it has not taken a U-turn in recent years. But no one is buying it. China will never realize its full potential — in a hyper-connected, digitized, deep, dual-use, semiconductor-powered world — unless it understands that establishing and maintaining trust is now the single most important competitive advantage any country or company can have. And Beijing is failing in that endeavor.

In his splendid biography of the great American statesman George Shultz, Philip Taubman quotes one of Shultz’s cardinal rules of diplomacy and life: “Trust is the coin of the realm.”

What turned the neurotic Presbyterian teenager into the great founder of the European Enlightenment?

your life might actually get better. Give up the prospect of life after death, and you will finally really appreciate life before it. Give up metaphysics, and you can concentrate on physics. Give up the idea of your precious, unique, irreplaceable self, and you might actually be more sympathetic to other people.

Go back to your backgammon game after your skeptical crisis, Hume wrote, and it will be exactly the same game.

Desideri retreated to an even more remote monastery. He worked on his Christian tracts and mastered the basic texts of Buddhism. He also translated the work of the great Buddhist philosopher Tsongkhapa into Italian.

That sure sounded like Buddhist philosophy to me—except, of course, that Hume couldn’t have known anything about Buddhist philosophy.

He spent the next five years in the Buddhist monasteries tucked away in the mountains around Lhasa. The monasteries were among the largest academic institutions in the world at the time. Desideri embarked on their 12-year-long curriculum in theology and philosophy. He composed a series of Christian tracts in Tibetan verse, which he presented to the king. They were beautifully written on the scrolls used by the great Tibetan libraries, with elegant lettering and carved wooden cases.

Desideri describes Tibetan Buddhism in great and accurate detail, especially in one volume titled “Of the False and Peculiar Religion Observed in Tibet.” He explains emptiness, karma, reincarnation, and meditation, and he talks about the Buddhist denial of the self.

The drive to convert and conquer the “false and peculiar” in the name of some metaphysical absolute was certainly there, in the West and in the East. It still is

For a long time, the conventional wisdom was that the Jesuits were retrograde enforcers of orthodoxy. But Feingold taught me that in the 17th century, the Jesuits were actually on the cutting edge of intellectual and scientific life. They were devoted to Catholic theology, of course, and the Catholic authorities strictly controlled which ideas were permitted and which were forbidden. But the Jesuit fathers at the Royal College knew a great deal about mathematics and science and contemporary philosophy—even heretical philosophy.

La Flèche was also startlingly global. In the 1700s, alumni and teachers from the Royal College could be found in Paraguay, Martinique, the Dominican Republic, and Canada, and they were ubiquitous in India and China. In fact, the sleepy little town in France was one of the very few places in Europe where there were scholars who knew about both contemporary philosophy and Asian religion.

Twelve Jesuit fathers had been at La Flèche when Desideri visited and were still there when Hume arrived. So Hume had lots of opportunities to learn about Desideri.One name stood out: P. Charles François Dolu, a missionary in the Indies. This had to be the Père Tolu I had been looking for; the “Tolu” in Petech’s book was a transcription error. Dolu not only had been particularly interested in Desideri; he was also there for all of Hume’s stay. And he had spent time in the East. Could he be the missing link?

in the 1730s not one but two Europeans had experienced Buddhism firsthand, and both of them had been at the Royal College. Desideri was the first, and the second was Dolu. He had been part of another fascinating voyage to the East: the French embassy to Buddhist Siam.

Dolu was an evangelical Catholic, and Hume was a skeptical Protestant, but they had a lot in common—endless curiosity, a love of science and conversation, and, most of all, a sense of humor. Dolu was intelligent, knowledgeable, gregarious, and witty, and certainly “of some parts and learning.” He was just the sort of man Hume would have liked.

Of course, it’s impossible to know for sure what Hume learned at the Royal College, or whether any of it influenced the Treatise. Philosophers like Descartes, Malebranche, and Bayle had already put Hume on the skeptical path. But simply hearing about the Buddhist argument against the self could have nudged him further in that direction. Buddhist ideas might have percolated in his mind and influenced his thoughts, even if he didn’t track their source

my quirky personal project reflected a much broader trend. Historians have begun to think about the Enlightenment in a newly global way. Those creaky wooden ships carried ideas across the boundaries of continents, languages, and religions just as the Internet does now (although they were a lot slower and perhaps even more perilous). As part of this new global intellectual history, new bibliographies and biographies and translations of Desideri have started to appear, and new links between Eastern and Western philosophy keep emerging.

It’s easy to think of the Enlightenment as the exclusive invention of a few iconoclastic European philosophers. But in a broader sense, the spirit of the Enlightenment, the spirit that both Hume and the Buddha articulated, pervades the story I’ve been telling.

as I read Buddhist philosophy, I began to notice something that others had noticed before me. Some of the ideas in Buddhist philosophy sounded a lot like what I had read in Hume’s Treatise. But this was crazy. Surely in the 1730s, few people in Europe knew about Buddhist philosophy

But the characters in this story were even more strongly driven by the simple desire to know, and the simple thirst for experience. They wanted to know what had happened before and what would happen next, what was on the other shore of the ocean, the other side of the mountain, the other face of the religious or philosophical—or even sexual—divide.

Like Dolu and Desideri, the gender-bending abbé and the Siamese astronomer-king, and, most of all, like Hume himself, I had found my salvation in the sheer endless curiosity of the human mind—and the sheer endless variety of human experience.