Every big financial crisis has its own defining characteristics, but both in origin and consequence, such implosions tend to be remarkably similar. In virtually every case, you first see a long period of excess in financial risk-taking, where credit spirals out of control. This ultimately proves unsustainable, and in the resulting bust the process of […]
China has just taken another step in the direction of becoming a military power. On Tuesday, it put into service its first aircraft carrier, named the “Liaoning” after China’s northeastern Liaoning Province. According to the Ministry of National Defense, the carrier’s entry into service “has important meaning for raising the level of the modernization of China’s […]
Its economic growth is stalling. So it may be time for India to squeeze more productivity out of its large, poor, sleepy and over-subsidized agricultural sector. Unlike China, India forgot to urbanize, researchers at Gavekal point out in a note. And the first step of urbanization should have been land reform. Industrial economies often get there by handing farmers […]
China’s recent assertiveness in the South China Seas is a harbinger of things to come. Beijing’s seapower project and the enormous resources it has enjoyed have opened up new strategic vistas for Chinese leaders and military commanders. With larger and more capable seagoing forces at its disposal, Beijing is well positioned to fashion sophisticated strategies […]
The biggest problem facing the global economy is not climate change, trade imbalances, financial regulation, or the eurozone. It is short-term thinking. An epidemic of myopia has swept over the world in the past few decades, and it threatens our living standards like nothing else. t’s an epidemic with more than one cause, and not […]
MINUTES after last week’s violent attacks on America’s missions in the Middle East, the country’s embassy in Cairo was already on Twitter. It tweeted an emergency number for American citizens. It criticised Egypt’s Muslim Brotherhood for supporting the protests on their Arabic feed. And it thanked fellow tweeters for their condolences on the murder of […]
The whole world is watching China‘s confrontations in the South China Sea and the East China Sea—but India is watching with particular concern. India has no territorial claims here per se, but one Indian official recently said that the South China Sea could be seen “as the antechamber of the Indian Ocean,” given the flow […]
Chinese streets were quiet today after anti-Japan protests, many of them violent, rocked more than a 100 cities last week. Large demonstrations continued through Tuesday, the 81st anniversary of Japan’s invasion of Manchuria. The disturbances, triggered by a territorial dispute over the Senkaku Islands in the East China Sea, are commonly described as the worst anti-Japan riots […]
China’s new leaders are poised to inherit the weakest economic growth since Deng Xiaopingthree decades ago and may need to borrow from his market-opening tool kit to avert a steeper decline. As the Communist Party prepares to anoint Vice President Xi Jinping, 59, and Vice Premier Li Keqiang, 57, next month as its so-called fifth generation in charge, data […]
While the eurozone debt crisis hangs like a dark cloud over the global economy, a grey cloud is emerging in China with deep consequences for the states of the Gulf Cooperation Council: the prospect of a hard landing. Read Here – The National
