Taxation & Public Finance

Conflict affects prices through both energy supply and weaker demand Large shocks can activate uncertainty and expectation channels Policy needs a diagnosis of the mechanism rather than a conflict label

AI growth can support debt sustainability without guaranteeing it Income composition and taxation determine the public revenue dividend Budgets must distinguish realised receipts from anticipated productivity

Japan’s inbound success coexists with constrained outbound mobility Exchange rates and household income affect international access Education and employment policies can reduce additional barriers Ja

Flexible and migrant labour helped subsidise China’s production-led growth Household consumption cannot deepen while income and social protection remain insecure Labour reform, hukou reform and local fiscal capacity must be treated as one policy problem

Japan’s inbound tourism boom conceals a persistent decline in outward mobility The historical record points to purchasing power rather than cultural reluctance Restoring mobility requires income, education and exchange-rate policy—not cheaper passports alone