Economics & Business Archive

The shrinking water table beneath China’s northern plain is more than just a matter of concern to Beijing’s National Development and Reform Commission. It makes strategic planners in Washington nervous too because it increases the likelihood that the Chinese will have to import significantly more grain. Given China’s population of 1.3 billion and the rapidly growing urban middle classes with their rising taste for more western-style meat-oriented diets instead of traditional rice, this threatens to destabilize world grain markets, push up prices and lead to shortages, the Washington-based, internationally funded Worldwatch Institute has speculated. Water supply is becoming similarly stressed […]

BRATISLAVA, Slovakia — On Aug. 16, the new Slovakian government, led by center-left Prime Minister Robert Fico, blocked the planned partial privatization of the airport in the country’s capital, Bratislava. The government rejected a $370 million offer by a Viennese consortium aiming to offset the need for a new runway at Vienna International by integrating the airports of the “twin cities” of Vienna and Bratislava, which are just 33 miles apart and thus well-suited to serve as twin hubs serving increased air traffic to the region. The deal is the first large privatization to be annulled in Slovakia in the […]

In both Washington and Tokyo, U.S. policymakers seem to have lost sight of the big story now unfolding in Asia’s energy marketplace: Energy resource-poor Japan is revving up its diplomatic drive to strengthen relations with the oil- and gas-rich countries of Central Asia in a bid to ensure its energy security amid stubbornly high oil prices. Japan invited foreign ministers of Central Asian nations to talks in early June. And in a more significant move that highlights how passionately Japan is wooing the Central Asian nations, Prime Minister Junichiro Koizumi, who steps down in late September, will visit the region […]

NAIROBI, Kenya — The collapse of the World Trade Organization talks in the past month has presented Africa with a double predicament. On the one hand are the lost trade opportunities following the collapse of the WTO’s Doha Round. If the talks had succeeded in favor of Africa’s position, the continent would have gained better market access to the European, U.S. and Japanese economies. The continent also sought to successfully negotiate for the elimination of agriculture production and export subsidies that make produce from developed countries cheaper than Africa’s in the world market. On the other hand, the preferential trade […]

The Great Game of the 19th Century was played between empire builders Britain and Russia, using Afghanistan as their football in seeking control of central Asia. Today, there is a new great game under way between two very different competitors — China and India. But this time the ball is Burma. In much the same way that Afghanistan was a poor and undeveloped but strategic piece of territory, so Burma now fits that role for the two burgeoning economic giants. But Burma is more than simply a slice of well-placed geography: It is rich in energy resources, which China and […]

ACCRA, Ghana — Taking a break from work, hotel desk clerk Augustine Kumi, 23, briefly wondered aloud why he and many fellow Ghanaians are poor. After all, his stable country enjoys a democratically elected government and, he pointed out, it boasts valued natural resources such as gold, timber and cocoa. That doesn’t account for the high inflows of foreign aid, perhaps comprising more than 40 percent of the annual budget. But then Kumi answered his own question. “We don’t have good leaders,” he said. “They are greedy.” Kumi’s gripes, in part, are tied to his frustrations with President John Kufuor’s […]

The Global Hawk unmanned aerial vehicle (UAV), which is already changing the way the U.S. Air Force does business, could undergo an evolutionary leap in endurance, or the time the aircraft can stay in the air, in the next few years. Global Hawk, produced by Northrop Grumman Corp., can fly autonomously for up to 35 hours at a time, at an altitude of 60,000 feet or higher, while scanning an area of some 40,000 square miles, according to the company. With a more advanced engine, however, Global Hawk could stay up far longer — weeks, even months at a time, […]

Step aside MySpace, Facebook, and Xanga. A new social networking site has joined the ranks. You won’t find cursing here. Dating through this site is not permitted. And female members can only post photographs of themselves wearing a headscarf. Welcome to MuslimSpace.com, a new and rapidly growing social networking site catering to the 1.2 billion Muslims worldwide. MuslimSpace is the brainchild of Mohamed El-Fatatry, a U.A.E.-born Egyptian professional Web developer, designer and programmer living in Finland. A former MySpace user, El-Fatatry created MuslimSpace in March 2006 because he said he was tired of the un-Islamic content of popular social networking […]