The U.S. has seen a significant increase in federal infrastructure funding over the past several years, with over $1 trillion from the Infrastructure Investment and Jobs Act and Inflation Reduction Act supporting tens of thousands of projects in transportation, water, energy, and broadband. Despite this surge in federal funding and anxiety about its future, recently updated Congressional Budget Office (CBO) data reveals a U.S. infrastructure spending landscape increasingly dominated by state and local governments.
Joseph Kane, Adie Tomer, and Ben Swedberg examine the CBO data and highlight four trends that policymakers and practitioners should keep in mind as they consider the future of national, state, and local infrastructure needs.
South Korea-Taiwan relations. While it is not yet clear how President Trump will engage Taiwan in his second term, Taiwan’s relevance for South Korean security will continue to grow. Andrew Yeo and Hanna Foreman examine how Seoul and Washington can strengthen relations to boost peace, stability, and deterrence in the Taiwan Strait.
China’s economic challenges. For much of President Xi Jinping’s third term, China has struggled to cope with the three “Ds” afflicting its economy: debt, deflation, and demography. Despite these challenges,Jonathan Czin argueshow China likely has the capacity to endure a second trade war with the U.S.
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