Economics & Business Archive

America’s successful assassination of Osama bin Laden, long overdue, naturally renews talk across the country about ending the nation’s military involvement in Afghanistan-Pakistan. Coupled with the ongoing tumult unleashed by the Arab Spring, Washington is once again being encouraged to reconsider its strategic relationship with the troubled Middle East. The underlying current to this debate has always been the widely held perception that America’s “oil addiction” tethers it to the unstable region. Achieve “energy independence,” we are told, and America would free itself of this terrible burden. The simplicity of that argument belies globalization’s crosscutting interdependencies, which only grow more […]

The Libyan debacle has been a major wakeup call for those thinking that Europe has a grip on its neighborhood or that the European Union might one day become a serious geopolitical actor. The point is now so moot, it’s barely worth making. What’s less obvious is that the fallout from the Libyan intervention will have a serious impact on the upstream energy landscape around Europe. That’s not just because the EU has lost around 1 million barrels per day of sweet oil production and around 16 percent of its gas supplies for the “EU 15,” but also because the […]

A new regional cooperation bloc to include every country in the Americas except Canada and the United Sates has received almost no coverage in the English-language media. Some observers, however, believe the Community of Latin American and Carribean States — CELAC for its Spanish acronym — represents the first step in a historic geopolitical shift away from an era dominated by pro-U.S. policies. “It’s a regional grouping for a new era really, which is no longer about free trade and neoliberalism,” says Alexander Main at the Center for Economic and Policy Research in Washington. Foreign ministers from several of CELAC’s […]

India and Kazakhstan recently signed a series of energy deals during a visit to the Central Asian country by India’s prime minister. In an email interview, Emilian Kavalski, a lecturer at the University of Western Sydney, discussed relations between India and Central Asia. WPR: What is the recent history of India’s relations with Central Asia? Emilian Kavalski: In a nutshell, India’s recent relations with Central Asia have been motivated by a search for influence in what New Delhi considers to be its strategic neighborhood. Since the collapse of the Soviet Union, India has pursued strategic depth not only to secure […]

Even for a man who was no stranger to government shackles, Ugandan opposition leader Kizza Besigye’s arrest last Thursday was particularly vicious. Though it was Besigye’s fourth arrest since April 11, when he and his supporters began holding “walk to work” protests against rising fuel and commodity prices, this one was met with disbelief across this East African nation of 33 million. A day after being released on bail following his previous arrest, Besigye was intercepted in his vehicle at a Kampala roundabout by plainclothes officers, who smashed the car’s windows with a hammer and a pistol, and doused Besigye’s […]

Chinese truckers at the port of Shanghai ended a three-day strike on April 23 after local authorities released a communiqué promising the reduction of logistics fees and attempts to mitigate the effect of rising fuel prices. The incident made headlines in global media coverage, as it threatened operations in the world’s largest port. But it is just the latest in a widespread pattern across China, with similar protests by independent truckers and taxi drivers angered at rising fuel costs taking place on a regular basis in all Chinese cities. The mix of repression and accommodation shown in Shanghai is also […]

Since February, Burkina Faso has been shaken by major protests led by students, merchants and members of the country’s security forces. President Blaise Compaoré has responded with a combination of government reshuffles, outreach to aggrieved factions and repression. Yet unrest has increased, with a large crowd gathering in the capital Ouagadougou on Saturday to demand Compaoré’s departure. The protests reflect both economic and political frustration. Burkina Faso, a landlocked nation whose economy relies on cotton and gold exports, is one of the poorest countries in West Africa, with an average life expectancy of less than 54 years and a per […]

The U.S. Export-Import Bank recently approved a nearly $3 billion loan guarantee to a Colombian oil refinery, one of many recent moves by the bank. In an email interview, Gary Hufbauer, Reginald Jones Senior Fellow at the Peterson Institute for International Economics, discussed the operations of the U.S. Export-Import Bank. WPR: What is the core mission of the U.S. Export-Import Bank and what are its principal activities? Gary Hufbauer: The core mission of the U.S. Export-Import Bank should be to promote U.S. exports of goods and services in circumstances where financing conditions make a difference. The bank carries out its […]

While pessimism is not in short supply in Pakistan, other resources are increasingly scarce. This is driving the country toward a crisis characterized by interlocking economic, political and security dimensions, and has already brought the government close to fiscal collapse. Yet the dangers are poorly understood. Few of the country’s policy elite fully grasp how Pakistan’s energy, food and fiscal challenges intersect, nor how quickly problems will spiral as the country’s population grows. Meanwhile, the international community is equally fragmented and short-term in its outlook, still working through sector-based silos that leave it unable to see the big picture. With […]

With arguably the most notorious manhunt of all time now over, many are reflecting on the emotional significance Osama bin Laden’s death carries for a generation that has come of age since Sept. 11. With the gravity of the development sinking in this morning, World Politics Review contributor Luke Hunt reminded Trend Lines that what bin Laden did “has dominated and dictated our lives professionally for more than a decade.” Another WPR contributor, J. Edward Conway had this to say: “When I found my way into the U.S. Defense Department after Sept. 11, I was met by a sea of […]

Exactly one year after explaining that a future Conservative government would be “highly active and activist in European affairs,” William Hague, now the British foreign secretary, signaled quite the contrary when he appeared before the U.K.’s House of Commons Defense Select Committee on March 9. His comments in Parliament showed a worrying misunderstanding of the capacities of the two key European institutions of which the U.K. is a member — the European Union and NATO. In response to questions on international alliances and the U.K.’s perspective toward them, Hague argued that NATO is singularly designed for national security whereas the […]