Economics & Business Archive

The first EU-African summit in seven years has come and gone in Lisbon, Portugal. The meeting — held on Dec. 8-9 — brought together the leaders of all the member states of the European Union and African Union, except for a few, such as U.K. Prime Minister Gordon Brown, who stayed away to protest Zimbabwean President Robert Mugabe’s attendance. Western newspapers devoted minimal attention to the meeting, and, in the eyes of their reporters, the meeting was hijacked by strife over Zimbabwe and trade. Though the summit produced endless speeches, statements, and action plans, but no concrete action, it was […]

It’s been called a perfect storm, the convergence of bad weather, tight supplies and increasing demand that is responsible for driving up food prices across the globe by an average 21 percent in the past year. The United Nations Food and Agriculture Organization contends that developing countries may end up paying even more. Price volatility and shocks have long been defining characteristics of the world agriculture market. But this year, consumers have seen simultaneous price increases across the board in nearly every commodity. Throughout most of the developed world, higher grocery bills luckily remain only a nuisance, although fears of […]

NUSA DUA, Indonesia — The 13th United Nations Framework Convention on Climate Change, held in Bali over the last two weeks, had it all: anger, frustration, intense politicking, drama, tears, and finally a decision, although it was reached one day later than expected. The final document, nailed down on Saturday, is not the whirlwind of change that environmentalists had hoped for, but rather a gentle breeze that may pave the way to a cooler tomorrow in a warming world. The Bali Roadmap, as the final document is known, is the beginning of a long process that sets 2009 as the […]

A series of recent studies have warned that climate change could exacerbate north-south tensions, increase global migration, spur public health problems, heighten conflict over resources, challenge the institutions of global governance, and possibly shift the balance of power. Although the probability, extent, and urgency of such threats remains uncertain, U.S. policy makers should prudently hedge against them. Developing a range of tools to mitigate and address climate change is essential given the possible advent of at least some of these challenges. Many Western leaders have made clear that they already perceive serious challenges to their national security from these consequences. […]

BOGOTÁ, Colombia — The diplomatic row sparked by President Hugo Chávez’s mediation in Colombia’s hostage crisis continues and shows little sign of abating, sparking fears that bilateral trade will be affected and dashing hopes of a humanitarian exchange of hostages held by the Revolutionary Armed Forces of Colombia (FARC). The involvement of Chávez was hailed as a historic opportunity to secure the release of dozens of hostages held by FARC rebels, but has caused Venezuela-Colombia relations to sink to their lowest point in two years. Now they are consigned to the “freezer,” according to Chávez. The row began when Colombian […]

NUSA DUA, Indonesia — As the 13th meeting of the parties of the United Nations Framework Convention on Climate Change (UNFCCC) enters its second and final week, there has been mixed progress on the resort island of Bali, where representatives of some 190 countries have converged to plot a roadmap for mitigating global warming when the Kyoto Protocol expires in 2012. The second week coincides with the arrival of national delegations’ ministers and is meant to seal the deals negotiated by technicians during the first week. However, although most UNFCCC observers would agree with Emil Salim, head of the host […]

This week, world leaders and scientists are meeting in Bali, Indonesia, to articulate a global strategy to deal with global warming. Even though it remains unlikely that major policy initiatives will be announced, the venue provides an important platform to increase U.S.-Japanese leadership on global warming. Historically, U.S.-Japan relations have benefited from multiple layers of bilateral cooperation. As the U.S.-Japan bilateral relationship evolves, traditional military and economic cooperation will prove insufficient to guard against malignant stresses in the alliance. The recent meeting in Washington of Japanese Prime Minister Yasuo Fukuda and President Bush provided the foundation for a new pillar […]

This past Sunday, Russians went to the polls to vote in national parliamentary elections. The result was hardly in doubt — the United Russia Party of Russia’s President Vladimir Putin swept to victory. Equally predictable was the reaction of most Western media to this largely foreordained result. We are told that Putin is reviving the Soviet Union and that he has been busy building a cult of personality while crushing all political opposition. More importantly, we are told that Putin is reigniting the Cold War rivalry between Russia and the United States. This is the message that we constantly read […]

DENPASAR Indonesia — There is a double set of expectations in Bali this week, where about 15,000 are expected to converge Monday for the 13th meeting of the parties to the U.N. Framework Convention on Climate Change (UNFCCC). The meeting begins on Monday and runs through Dec. 14. In the wake of terrorist attacks in recent years, local residents hope that the 12-day conference signals to tourists worldwide that the island is a safe vacation destination. Meanwhile, the movers and shakers of the world’s environmental lobby hope it will pave the way for negotiations toward a new, binding deal to […]