You hear it all of the time. The problem is that the government is borrowing from China to fund our stupid spending programs, or popular subsidies, or tax cuts. Mitt Romney (remember him?), in a presidential debate, defined his criterion for deciding whether spending is worthwhile thusly: “Is the program so critical it’s worth borrowing from […]
Australia’s economy slowed last quarter as the government and consumers tightened spending, validating the central bank’s decision to cut interest rates yesterday. Third-quarter gross domestic product advanced 0.5 percent from the previous three months, when it expanded 0.6 percent, a Bureau of Statistics report released in Sydney today showed. The result compared with the median […]
In foreign affairs, the central challenge now facing President Barack Obama is how to regain some of the ground lost in recent years in shaping U.S. national security policy. Historically and politically, in America’s system of separation of powers, it is the president who has the greatest leeway for decisive action in foreign affairs. He […]
After a first term and a reelection campaign that dwelled on the ills China has caused the U.S. economy, President Barack Obama now must turn to the more difficult business of engaging with China’s new leadership and translating rhetoric into policy. Given the weak economy of the past four years, a preoccupation with harmful Chinese […]
George Soros cites Isaiah Berlin as an important intellectual influence, so it makes sense to see Soros through one of the Riga-born philosopher’s best-known lenses — the division of the world into foxes and hedgehogs. In his public life, Soros is a broad-minded fox: As a hedge fund manager, his success rested on his ability to make many […]
Greek opinions about Germans are changing. When “austerity measures” were first imposed, Greek newspapers and posters infamously depicted Chancellor Merkel as a Nazi leader. But the reaction has lately become more sophisticated: now we hear that Germans want to pursue a strict interpretation of Protestant ethics (which knows no redemption on earth) and punish the […]
The growing focus of Indian companies, including government ones, on emerging markets across Asia and Africa, and the attendant political risks of doing business in a dynamic policy regime—a problem that several Western multinationals have encountered in India—has highlighted a new challenge for New Delhi: protecting the overseas investments of Indian firms. Earlier this week, […]
Is the People’s Republic of China (PRC) trying to implode the Japanese economy? It is starting to look that way. The PRC has counterprogramed the US pivot to Asia – and US advantages in military and softpower – by leveraging its economic strengths. When Japan kicked off this year’s edition of the Senkaku (Diaoyu) Follies […]
A recent report on the humdrum subject of plans to build new coal-burning plants to generate electricity helps to explain why Asia – led by its rising economic giants, China and India – is at the epicentre of concern about global warming and climate change. Policy makers from nearly all of the world’s countries meet […]
Under sanctions imposed by the U.S. and its allies, dollars are hard to come by in Iran. The rial fell from 20,160 against the greenback on the street market in August to 36,500 rials to the dollar in October. It’s settled, for now, around 27,000. The central bank’s fixed official rate is 12,260. Yet there’s […]
looking beyond borders 