Economics & Business Archive

UPDATE, Jan. 21, 2013: The original post on this page featured charts we put together with data from a June 2007 report of the Information Technology Innovation Foundation. However, the original images of the charts were lost due to a technical problem. At any rate, since 2007, there has been a lot of new research into the question of broadband speeds across countries, and much of it has been devoted to debunking the idea that the United States lags significantly behind other countries. The best recent post we could find on this subject comes from Entropy Economics, a research firm […]

Whatever consequences might ensue from the election of Abdullah Gul as Turkey’s new president, a change of direction in Turkey’s relations with Russia is unlikely to be one of them. Since the government, led by the Justice and Development Party (AKP) took office in 2002, Turkey has been drifting eastward — but not toward the Islamic world. Ankara’s disputes with European countries over Turkey’s proposed entry into the European Union and with Washington over U.S. policies toward northern Iraq have weakened Turkey’s traditional westward orientation. In the east, however, the AKP government has been more eager to cultivate relations with […]

BAKU, Azerbaijan — Iranian President Mahmoud Ahmedinajad paid his first official visit to northern neighbor Azerbaijan last week (Aug.21-22), aiming to counter growing U.S. influence in the oil-rich country and forestall further advances on a move to allow American use of the Russian-operated Gabala Radar Station in Azerbaijan. Ahmedinajad and Azerbaijan President Ilham Aliyev emphasized the ethnic, religious and economic ties between the two nations on the Caspian Sea, but security and defense issues were the focus of the talks. During the visit, during which five bilateral agreements were signed, both sides attempted to highlight the positive aspects of their […]

Caribou Coffee, the second-largest U.S. java seller, seems at first blush like a fairly ordinary American company. The chain was founded in 1992 in the small town of Edina, Minn., the brainchild of idealistic newlyweds, and has since expanded to over 400 coffeehouses in 18 states. Caribou’s menu is muffins and lattes — not an Arabic coffee in sight. It may come as a surprise, then, to know that Caribou Coffee is “Shariah compliant,” one of the largest American businesses to run its operations in accordance with Islamic law. Caribou isn’t alone. After decades on the economic backburner, flush oil […]

WASHINGTON – Eight leaky patrol boats are at the heart of a bitter dispute between the Coast Guard and its former partners in the defense industry as the nation’s smallest military service struggles to update an antiquated fleet on a tight budget. In April, Adm. Thad Allen, Coast Guard commandant, announced at a press briefing that the service would decommission the eight patrol boats, worth around $100 million combined, just months after the first emerged from extensive work at a Northrop Grumman shipyard that included lengthening the hull by 13 feet. The lead vessel’s hull buckled on its maiden voyage, […]

BAKU, Azerbaijan — In its latest effort to wean itself from dependence on the Middle East for its energy needs and to counter rival Russia’s influence in resource-rich Central Asia, the United States has signed an agreement with Azerbaijan to examine the feasibility of expanding the so-called Trans-Caspian Pipeline project to transport oil and gas from the region. The remote and isolated nations of Central Asia are the new playing field in the battle for control of the world’s dwindling resources of natural gas and crude oil, and Azerbaijan, wedged between Russia and Iran on the Caspian Sea, is a […]

BUENOS AIRES, Argentina — Brazil has always dealt with its energy problems in the same way— by building more dams. During the 1970s military dictatorship, it was thought a mega-dam or two would solve the country’s energy problems for a generation. It was then Brazil began collaborating with neighboring Paraguay to build the massive Itaipu dam, which supplies approximately one-fifth of Brazil’s energy. Despite Itaipu’s output, Latin America’s largest economy still has problems with the stability of its energy supply. Last year, Bolivia put Brazil into a stranglehold by threatening to restrict the flow of natural gas, triggering a flurry […]

HONG KONG — Just as growing numbers of newly affluent Chinese are planning to buy the status symbol they seek most, along comes a spoilsport government with a plan to limit the number of cars on the roads. Beijing today, Shanghai and other cities tomorrow? The central government is enforcing a test run this week of a plan to take more than 1 million cars off Beijing’s roads. The object is to see how effective it will be in cleaning the capital’s filthy air for China’s “green” Olympics in August next year. It’s a desperate measure in a country that […]

Three months ago, the city of Ramadi was dark. The city of 400,000 in western Iraq was completely severed from the country’s delicate electrical grid; those who had power got it strictly from generators that hummed all day and night. But then came the much-heralded “Anbar awakening” — a banding-together of Sunni sheiks and their militias into a loose alliance that fought alongside U.S. and federal Iraqi forces to all but eradicate terrorist cells in Ramadi and other large western towns. As security improved in Anbar province, U.S. Provincial Reconstruction Teams (PRTs) — some military-led, some commanded by State Department […]

On Aug. 2, after being escorted by a nuclear-powered icebreaker and another research vessel, two Russian mini-submarines traveled more than two miles below the ice at the North Pole and planted a titanium Russian flag in the seafloor, claiming the underwater territory for Moscow. The publicity stunt played to huge audiences in the Russian media and on state-run television, where the tone of the coverage resembled that given to Soviet cosmonauts. Elsewhere, the underwater mission was greeted with a mixture of humor and anxiety. Late night talk shows worried what the land grab would mean for Santa’s village and his […]

UPDATE April 20, 2011: The below item has been so well-read in the almost four years since we first published it, we have produced an updated chart to depict the U.S. Energy Information Administration’s most recent data on U.S. oil imports. This time, instead of a one-month snapshot, however, we’re showing annual totals by country, and the trend over several years. The chart below shows U.S. oil (and products) imports by country for the top 15 source countries during the six years beginning in 2005 and ending in 2010. For each country, the 2005 import volume is represented by the […]

KUMGANG MOUNTAIN, North Korea — Bags packed, hiking boots tightly laced, visors on, cameras in hand, a few dozen South Korean tourists make their way to an unlikely vacation destination. Their journey, a mere four hours from Seoul, will take them through barbed wire checkpoints, and at their destination they will be greeted by machine-gun-toting soldiers. In cooperation with the government of South Korea and the Hyundai Asan Corp., North Korea is dabbling in the art of making money through tourism, offering a peephole into the Hermit Kingdom for visitors from all over the world. Kumgang Mountain first opened in […]

LONDON — Alighting from his vintage Rolls Royce limousine with a cursory nod to the mounted ceremonial guard that escorted him to the steps of Zimbabwe’s parliament July 26, Robert Mugabe was every inch the defiant and bombastic African leader, telling the West to “go hang” after imposing another round of travel restrictions and sanctions on his penurious country. Bearing with him a sheaf of economic bills to support the latest price-stabilization scheme for a country bare of virtually every necessity for daily life — from food to fuel to foreign exchange — the 83-year-old president railed against “Western detractors […]

GUADALAJARA, Mexico — A year after losing Mexico’s contested presidential election, runner up Andrés Manuel López Obrador has largely fallen out of view and it’s unclear whether he can stage a comeback. But he can certainly still draw a crowd. Last month, on the eve of the one-year anniversary of the vote he narrowly lost, López Obrador beckoned his followers to Mexico City’s enormous Zocalo (town square) for a rally, where the self-proclaimed “legitimate president of Mexico” once again branded the election fraudulent, invoked a new theory to explain his defeat and railed against proposed economic reforms. He also promoted […]

Earlier this year, the French General Secretariat for National Defense (SGDN) reaffirmed a warning to French policymakers that the ubiquitous BlackBerry represents a potential intelligence vulnerability when used to transmit sensitive information. The BlackBerry is a handheld computer developed by the Canadian firm Research in Motion (RIM) that allows users to forward electronic messages sent via the Internet (email) to the device. According to French sources, the main SGDN concern is that the security framework used by the BlackBerry to transmit email is vulnerable to interception by British and American intelligence. As a result, the French government restricted its use […]