It may be Asia’s 21stcentury equivalent of the assassination of Austria’s Archduke Ferdinand that sparked World War I. Growing tensions over territorial disputes in the East and South China Seas threaten to disrupt the oft-heralded Asian Century. Whatever the outcome, many see more than just competing nationalisms, the scars of national memory and the rise of […]
No other country has anything like it – an annual jamboree of its diaspora, conducted with great fanfare by its government. India has been doing it, with great success, for a decade, timed to recall the return to India of the most famous Indian expatriate of them all, Mahatma Gandhi, who alighted from his South […]
As China‘s major trading partners try to control rising public pension and health care costs, they may not realize they also have an important stake in China’s ongoing struggle to fashion a safety net for its own rapidly aging population. Many observers assume China has no pensions or healthcare insurance for the 185 million people over […]
A salient feature of Iran’s foreign policy is its ability to build influence where least expected. With the ascent to power of Sunni Islamists throughout the region, and Iran‘s support of the military campaign in Syria, many have argued that Iran’s regional standing is in decline. But the opposite assessment needs to be taken seriously. […]
It is coming up to two years since President Abd Rabbo Mansour Hadi of Yemen was sworn in, in February 2011. After a thirty-year rule by the brutal, corrupt and dictatorial regime of Ali Abdullah Saleh, Yemen needs several years to reinvent itself as a modern pluralistic society. No one should expect miracles. But nothing […]
The World Bank cut its global growth forecast for this year as austerity measures, high unemployment and low business confidence weigh on economies in developed nations. The Washington-based bank projects the world economy will expand 2.4 percent, down from a June forecast of 3 percent, after growing 2.3 percent in 2012. It halved its forecast for Japan, cut […]
Pakistan appeared to be treading toward an uncertain political terrain on Tuesday as arrest orders were issued for a sitting prime minister in a corruption case and a populist cleric called for the government’s resignation leading tens of thousands of protesters into the federal capital. During the early hours of Tuesday, the Pakistani-Canadian chief of the Tehrik-i-Minhajul Quran (TMQ), […]
The global economy was not the only casualty of the 2008 financial collapse. The crisis also soiled the reputations of many in the financial industry and of the regulators, political leaders, and media outlets that were supposed to keep them in check. So William Silber’s new biography of Paul Volcker, one of the last remaining […]
Today’s emerging powers are not worthy successors to their anti-colonialist, anti-imperialist ancestors. The countries of the South control a growing share of wealth, which is only proper, but its distribution is so inequitable that income differences are even greater in South Africa and China than in the US. The money is more often spent on buying […]
Maybe, just maybe, the worst of the euro crisis is over. Business and consumer confidence is rising across the Continent, sovereign bond yields are falling, and capital flight from its weakest economies is easing. Talk of an imminent breakup of the currency union has all but disappeared. Even Greece, whose debt hemorrhage plunged the euro zone into […]
