It is a shift as momentous as the U.S. eclipse of Britain’s Royal Navy or the American economy’s surpassing of the British economy in the late 19th century. According to preliminary figures reported this week, China has overtaken the United States as the world’s largest net oil importer. Nearly 6 million barrels per day flowed into the United […]
Hugo Chávez, resplendent in crisply pressed fatigues and paratrooper boots with red shoelaces, had a very special guest. Meeting him that day in mid-September 2011 in Caracas was the world’s most powerful banker, who had lent Chávez’s government at least $40 billion over the four years from 2008 to 2012, or about $1,400 for every […]
To be sure, Chávez’s boldness partially helped inspire pride and political self-confidence in the region, in addition to revitalizing the dream of leftist revolution in Latin America. Chávez’s contributions, however, were minimal compared with the positive impact of larger and more important factors, such as the rise of Brazil, the commodity boom, the growing assertiveness […]
This hardly seems like the moment to ask what type of state will emerge in Libya. Two years on from the uprising that eventually toppled Muammar Qaddafi, the country hardly has a functioning state at all. There is still no constitution and there may not be one for months. The parliament, elected less than a […]
Asia’s energy-hungry economies are turning to a new, politically stable and potentially cheaper source of gas: the United States. While the domestic debate continues over U.S. energy exports, major gas importers such as Japan, South Korea and China are scrambling to invest in the new energy superpower’s gas projects. Should major exporters of liquefied natural gas […]
Saudi Arabia’s oil reserves are expected to run dry in fifty years. This prospect has encouraged the Saudis to go shopping for cutting-edge science that can secure the kingdom’s future—at elite American research universities. King Abdullah and Saudi Aramco are spending tens of billions on technology research to make the oil last longer and develop […]
When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it. Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the […]
External Affairs Minister Salman Khurshid began an official visit to Chile and Argentina on Tuesday night. This is the first ever visit of an Indian Foreign Minister to Santiago. The fact that Mr. Khurshid will be there less than four months since taking charge is hopefully a sign of evolving priorities towards the region. On […]
An inconvenient fact is that Indonesia’s economic growth is mainly driven by a commodity boom fuelled by China’s appetite for raw materials and global demand for biofuels. China’s enterprises are building bullet trains while Indian car– and IT-companies compete around the world. Indonesia, all the while, manufactures…essentially nothing. Most international manufacturing companies have moved on to greener […]
Generational change has been postponed again in Saudi Arabia, and the kingdom’s succession process is now clear for the foreseeable future. With King Abdullah’s appointment this week of his half-brother Prince Muqrin bin Abdulaziz to the position of second deputy prime minister behind Crown Prince Salman, the inner circle of princes that has run the […]
looking beyond borders 