Economics & Business Archive

When the Chinese first learned that two Russian coast guard ships had sunk a Chinese-owned freighter on Feb. 15 in the Pacific Ocean, the incident must have aroused conflicting feelings regarding their sometimes overbearing neighbor. The freighter, the New Star, was registered with Sierra Leone and was using that country’s flag of convenience. The Hong Kong-based J-Rui Lucky Shipping Company owned the vessel. Ten of the 16 crew members were Chinese citizens, while six were from Indonesia, including the captain. Of the eight who died when the ship sank 80 kilometers (50 miles) off the port of Nakhodka, seven were […]

JOHANNESBURG, South Africa — Zimbabwe’s national unity government got off to a bad start last month, raising doubts about its ability to usher in political stability and economic revival in the country. Most worrying is the infighting within President Robert Mugabe’s ZANU-PF party, where hardliners led by the country’s joint chiefs of staff appear to be opposed to the deal brokered by the regional Southern African Development Community (SADC) last year. The military and security chiefs had previously declared that they would not salute Morgan Tsvangirai, leader of the mainstream formation of the splintered opposition Movement for Democratic Change (MDC). […]

Over the past two years, the Arctic Circle has been the object of both exciting and alarming speculation. The planting of the Russian flag on the North Pole sea floor led to stories of a race to claim its resources. The opening of the fabled Northwest Passage and Russia’s Northern Sea Route led to reports of shortened trade routes — saving thousands of miles and many days at sea — between Europe and the Far East. Government forecasts of large — if as-yet undiscovered — oil and gas reserves have given rise to concerns over sovereignty, security and sustainability throughout […]

For millennia, the Dead Sea has been fed by the sweet waters of the Jordan River while losing only pure water to relentless evaporation. The collected salts left behind have resulted in an inhospitably briny lake eight times saltier than the sea, topped by a thin layer of the Jordan’s relatively less-dense fresh water. The differing salinity levels between the river and the lake kept the Dead Sea in a perpetually layered state, even while the lake’s overall water level remained fairly constant, since evaporation from the lake’s surface occurs at roughly the rate of the natural flow of the […]

Ever since men first put to sea, conflicts have swirled around narrow maritime passages known as choke points. A subset of the broader category of Sea Lines of Communication (SLOCs), maritime choke points act as funnels drawing in shipping from surrounding seas. As critical pressure points in naval struggles for “command of the sea,” every navy seeks to secure them while denying their use to the enemy. Homer’s “Iliad” already detailed the epic struggle between Troy — situated on the Dardanelles, the ancient world’s leading choke point — and a coalition of Greek city states whose armies arrived by sea […]