More than half a decade has passed since the recession that triggered the financial panic and the Great Recession, but the condition of the world continues to be summed up by what I’ve called ‘turboparalysis’ — a prolonged condition of furious motion without movement in any particular direction, a situation in which the engine roars […]
When Google established its international tax scheme, it followed a path well worn by other multinational companies. The company booked its sales from outside the U.S. at its international headquarters in Ireland. Most of that profit was then sent on to the Netherlands, largely free of tax. From there, the money went on to a […]
With the European debt crisis, Japan’s return to recession, and the U.S. fiscal cliffhanger, China’s ability to keep on growing is getting a triple test. This week, both China bears and China bulls can point to numbers that seem to prove their cases. For those downbeat about China’s chances, the grim export figures for November […]
China and the United States are on a collision course — over accounting. Last week, the U.S. Securities and Exchange Commission (SEC) charged the Chinese affiliates of the world’s top five accounting firms with violating securities laws for refusing to hand over information on suspect Chinese companies to investigators. The move is the latest, most dramatic step […]
From the moment when Hosni Mubarak fell from power in February 2011, few issues have proved more divisive in Egyptian politics than the writing of a new constitution. Now, even though the formal process is theoretically coming to an end, the battle over the constitution is drawing the country dangerously close to an all-out civil […]
Not again! Just 13 months ago, European heads of state and government joined forces to usher Italian premier Silvio Berlusconi into retirement. Chancellor Angela Merkel and then-French President Nicolas Sarkozy marshalled all of their persuasive powers to clear they way for a reform government in Rome under the leadership of Mario Monti. Now, with Prime […]
Three major forces will be looming behind the headlines, driving events in 2013: the crisis of the Western democratic model, rising sectarian strife in the Middle East, and worries about American withdrawal from the world. The Obama administration must realize that no “foreign policy” issue will matter as much to global economic, political, and ultimately […]
BRITAIN has never been too keen on tying the knot with Europe. It sat aside in the 1950s as Germany, France, Italy and the Benelux countries forged a single market in coal and steel, which became a broader common market. It eventually joined, in 1973, largely because Europe seemed to be where the money was. […]
Mongolia has repeatedly insisted that it wants to open its doors for business to all countries with a genuine interest in participating in the country’s sustainable growth. How much of this policy is lip service though and how fair is the bidding process for prospective foreign investors? Mongolia’s long awaited initial public offering (IPO) for its lucrative […]
The news that several manufacturing giants are planning to bring some of their production back to the United States has dominated the headlines in recent months. Perhaps that’s because Americans see it as a bellwether of economic recovery, or perhaps it simply reflects their collective yearning for America’s past industrial dominance. Either way, the interest in these moves demonstrates the unique […]
looking beyond borders 