At 7.7%, China’s annual GDP growth in the first quarter of this year was slower than many expected. While the data were hardly devastating relative to a consensus forecast of 8.2%, many (including me) expected a second consecutive quarterly rebound from the slowdown that appeared to have ended in the third quarter of 2012. China […]
For all those who had been expecting it, this is it: Italy’s Third Republic began on April 20, 2013 with the re-election of 88-year old Giorgio Napolitano as president. If you believed that the new republic had already started with the nomination of Mario Monti as prime minister in late 2011, you are mistaken. Monti was […]
2013 is not 1962 and the Indian media and politicians should not behave as though it was, by needlessly raising the decibel level and trying to push the government to adopt a hawkish course on the border. But what the recent controversy does tell us is unsettled borders are not good for two neighbours because […]
So has the time finally come when America and its allies will take action, send in the bombers, declare a no-fly zone? It seems not. For there is a matching shout from the West: “It’s Iraq all over again.” Indeed, if there are any polls suggesting intervention would be a vote-winner, governments across the world […]
Since Greece’s insolvent-grade financials first came to light, Europe has consistently and reliably emanated ripples of distress across the Atlantic. Recall the mini-panic of 2011, with its big selloffs in global markets. And periodic fears about the endearingly named PIIGS—Portugal, Italy, Ireland, Greece and Spain—sneezing their malaise onto France and beyond. Then there’s the latest bank-run-that-wasn’t out […]
Whose fault is it that the Boston Marathon was bombed? Is Russia to blame for 250 years of trying to incorporate the Muslim North Caucasus nations, like the Chechens and Dagestanis, first into the czars’ Christian Orthodox Empire, then into the Soviet Union, and now into President Vladimir Putin’s all-controlling Russian state? Or is radical […]
If very high interest rates are bad for Europe, then very low ones must be good, right? Seems logical. Yet the big drop in yields on government bonds of Italy, Spain, Ireland, and Portugal isn’t entirely positive, especially for the European Central Bank. Read Here – Businessweek
Despite the surprise and very rapid election of Giorgio Napolitano, Italy’s 87-year-old outgoing President for a second seven-year term, Italy remains politically gridlocked. His election may have won querulous lawmakers a short breather, but for the moment at least, no permanent end to the crisis is in sight. Read Here – The Hindu
There are many shortcomings in the preemption argument. First, it reflects a failure to recognize the realities and continuities in DPRK diplomacy, where threats, insults, and relatively minor shows of force are simply the first step in the negotiation process. The motives that underlay this strategic approach are still debated, but the fact is that […]
An iron law of effective diplomacy is that if you make public demands, your credibility depends on sticking to them. European Union foreign ministers saw fit to ignore that lesson yesterday when they formally lifted all sanctions on Burma except an arms embargo. Last year, the same ministers said this step would only be taken […]
