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AEI's weekly digest of top commentary and scholarship on the issues that matter most

Challenges from China

Desperate Times,
Desperate Measures

June 4, 2022

Michael Beckley and Oriana Skylar Mastro examine the causes and implications of the Chinese regime's mounting aggression. In a report for the Wilson Center, Beckley argues that the next decade will be the most crucial period for US-China relations, as China's economic growth slows and Beijing comes under intense domestic pressures. Writing in the New York Times, Mastro contends that because comparisons between Ukraine and Taiwan do not accurately reflect the difficulties of US military assistance to the latter, President Joe Biden may be well advised to "stop rocking the boat and focus instead on strengthening America's position in the Taiwan theater."

 

Mark Jamison argues that the Federal Trade Commission, under the current administration, has defied its bipartisan basis and abandoned proven institutional norms. He finds that its new rules will produce greater political control at the expense of public input, which will in turn undermine the faith that businesses and consumers have in regulators.   

 

 

In City Journal, Howard Husock challenges a New York City Health Department subway ad campaign that encourages drug users to feel "empowered that you are using safely." He says, "It is as if government, in no small part to raise revenue, has adopted the mantra of the 1960s and, before it, the Roaring Twenties: 'If it feels good, do it.'"

 

In his first Straight Arrow News video commentary, John C. Fortier defends the legitimacy of the 2020 election but also explains how a few simple reforms could help rebuild voter confidence in the results of future elections.

 

John Yoo appeared on a special video episode of Banter, with AEI President Robert Doar and cohost Phoebe Keller, to discuss a range of timely topics: the Supreme Court's draft opinion leak, his advice to Vice President Mike Pence on certifying the 2020 election results, and the future of affirmative action.

 

How Common Is Appraiser Racial Bias—an Update

The latest report from the AEI Housing Center's Edward J. Pinto and Tobias Peter challenges the notion that pervasive, explicit racial bias among home appraisers leads to lower home valuations for Black borrowers looking to refinance. Although that claim has gained some traction in the media and among federal policymakers, Pinto and Peter find little evidence to support it in their statistical analysis of almost 890,000 refinance appraisals, including new data from the refinancing boom after the pandemic began. After accounting for unobservable factors, they find a small gap of 0.5 percentage points between the valuations for White and Black borrowers. The coauthors assert that this small difference does not provide compelling evidence for the presence of widespread, explicit racial bias among appraisers. While they conclude that further research is necessary to determine whether this gap is caused by the presence of implicit racial bias, incompetence, or a few "bad apples" among appraisers, Pinto and Peter offer an outline for how researchers might rigorously approach that question.

 

 

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QUOTE OF THE WEEK

Blanket forgiveness of student loans, as President Joe Biden appears poised to offer, would be a huge mistake. It's regressive and unfair. Over time, it could well increase the number of people struggling with student debt . . . [and] it would set a terrible precedent.

  — Michael R. Strain and Katharine G. Abraham