In April, in a speech at the Brookings Institution, Jake Sullivan, the national security adviser, somewhat formally declared the death of that old "Washington Consensus." For a generation, American leaders of both parties had spoken of the country's global economic interests in terms that were as high-minded and even messianic as they were simplistic and prescriptive: What was good for markets was good for America and what was good for America was good for the world. This was always something of an alibi for the country and its self-"‹congratulatory ruling class, as anyone looking under the hood could have told…
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August 22, 2025
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