The International Monetary Fund cut its global growth forecasts as the euro area’s debt crisis intensifies and warned of even slower expansion unless officials in the U.S. and Europe address threats to their economies. The world economy will grow 3.3 percent this year, the slowest since the 2009 recession, and 3.6 percent next year, the IMF said […]
The recent assassination attempt on Lieutenant-General Kuldip Singh Brar in London is a grim reminder that the ghosts of the Punjab insurgency are still with us so many years after the last shots were fired. Indira Gandhi’s decision to send troops into the Golden Temple in June 1984 — troops Gen. Brar commanded — set […]
China isn’t very good at foreign policy; that is the only way to make sense of the apparent decision by a number of large Chinese banks to boycott the annual meeting of the World Bank and the IMF scheduled for Tokyo next week. As the WSJ tells us, the decision comes as a result of the latest flare […]
The dispute between Japan and China over the Senkaku / Diaoyu islandscontinues to simmer. Even as International Monetary Fund (IMF) chief Christine Lagarde warned about the dangers to the global economyshould the dispute escalate, the fallout from the squabble continues to build momentum. There was always going to be a risk of economic consequences for both […]
There is relentless speculation in the French news media about whether former president Nicolas Sarkozy could announce a political comeback. In a TV interview, Valérie Pécresse, who was Sarkozy’s spokeswoman and budget minister until François Hollande won election in May, was asked if her boss was “dead and buried”; and Pécresse responded, “There is a […]
On Wednesday, tens of thousands of landless farmers lined up in Gwalior, a city in northern India, and started a very long walk. Under a flapping canopy of green-and-white flags, demonstrators from several Indian states vowed to spend the next three weeks marching over 320 km from this fort town to New Delhi. They are […]
LABOR is pursuing a dramatic upgrading of Australia‘s relationship with China that would put diplomatic ties between Canberra and Beijing on a similar footing to relations with the US, Japan and Indonesia. Foreign Minister Bob Carr revealed yesterday that he had sent the head of his department, Dennis Richardson, to Beijing last month to propose the […]
VISITORS to the showroom of the “Everything is Good” jade company in the Chinese border town of Ruili are swiftly steered towards one particular lump of black rock among many thousands on display. It looks innocuous enough, but a small slash on one side, revealing a translucent green and purple interior, betrays its true worth: […]
German Chancellor Angela Merkel will tell Greeks she wants to keep their country in the euro when she visits Athens this week, but she faces a hostile reception from a people worn down by years of austerity and recession. Many Greeks blame Merkel, who has publicly chastised them for much of the past three years, […]
BARACK OBAMA‘S re-election hopes were dealt a setback by Mitt Romney‘s relentless attack on his economic record at Wednesday’s presidential debate. Today, he got a lifeline from an unlikely source: the economy. In September, the unemployment rate plunged, unexpectedly, to 7.8%, from 8.1% in August. It was the first time it fell below 8% since […]
