Economics & Business Archive

U.S. Secretary of State Hillary Clinton visited Mongolia on Monday on the second day of her Asia tour intended to boost U.S. economic engagement with the region. She praised the Asian country as a model of democracy and called it an “inspiration.” By visiting Mongolia, Clinton aimed to put to rest the idea that democracy is a Western ideal in conflict with Asian values, explained Stephen Noerper, senior vice president of the Korea Society. “It provided the U.S. with an opportunity to acknowledge and congratulate Mongolia on its path toward democracy and to quietly acknowledge the fragility of that and […]

With economic turmoil in Europe and concerns over budget deficits and debt in the United States, public spending is receiving heightened scrutiny in major foreign assistance donor countries. Austerity has become the preferred route for many of them, leading the development community to wonder how austerity will affect development and how long this period will last. Austerity in donor countries is already affecting development in a number of critical ways. It is reducing levels of foreign assistance overall and prompting many donors to re-evaluate their aid programs and development strategies. This period will also likely see greater importance for the […]

On July 7, for the first time since 1969, Libyans voted to elect a General National Congress as part of efforts to create a new political system after the toppling of Moammar Gadhafi last year. The elections saw 2,639 individual candidates compete for 120 seats in 69 constituencies, with 559 women making up 44 percent of the candidates registered for seats reserved for political parties. Turnout was high, with 2.8 million people — of which 45 percent were women — registering to vote from among the roughly 3.5 million Libyans eligible to do so. The polls, which were the country’s […]

Japan passed a law in June allowing the development of military space programs. In an email interview, Saadia M. Pekkanen, Job and Gertrud Tamaki professor at the Jackson School of International Studies at the University of Washington, discussed the strategic trajectory of Japan’s space program.* WPR: What is the current scope of Japan’s space program, and what are its priority programs, both short-term and long-term? Saadia M. Pekkanen: Japan has sophisticated rocket and satellite capabilities that allow it to continue up the ladder in space technologies. It has advanced liquid and solid-fuel rockets, as well as multiple satellite programs. These […]

In Colombia and Nicaragua, officials are considering building transport links between the Atlantic and Pacific Oceans that are being framed as alternatives to the Panama Canal. In an email interview, Jean-Paul Rodrigue, a professor in the department of global studies and geography at Hofstra University, discussed the viability of alternatives to the Panama Canal. WPR: What are the feasible alternatives to the Panama Canal, and how do they compare in terms of cost to build and transit advantages? Jean-Paul Rodrigue: First, it is important to underline that there are no complete alternatives to the Panama Canal — that is, none […]

When the U.S. approached eight countries with the idea to expand the Trans-Pacific Partnership (TPP), it did not invite its North American Free Trade Area (NAFTA) partners, Canada and Mexico, along. The exclusion of the two countries from what is being touted as potentially the most important economic bloc in the Pacific Rim was deliberate. The TPP seeks to liberalize trade by completely removing tariffs and other trade barriers, while also strengthening measures to protect intellectual property, two moves that Canada particularly had resisted within NAFTA. However, when the U.S., Australia, Malaysia, Peru and Vietnam join founding members Brunei, Chile, […]

On June 16, students at the University of Khartoum, the capital of Sudan, began protesting against austerity measures enacted by the government of President Omar al-Bashir. Now staging near-daily protests, the students, along with their fellow demonstrators, are calling for the fall of Bashir, who took power in a 1989 coup, and his National Congress Party (NCP). Sudanese security forces have responded forcefully to the protests, drawing international concern. Observers inside and outside Sudan, meanwhile, wonder whether the protests might force Bashir to step down. Whether or not Bashir endures these protests, their intensity demonstrates the unsustainability of the political […]

Indonesian state oil company Pertamina signed an agreement in June with Timor Gas E Petroleo, the national oil company of Timor-Leste, to develop Timorese oil and gas. In an email interview, Cillian Nolan, a Southeast Asia analyst at the Jakarta office of the International Crisis Group, discussed relations between Indonesia and Timor-Leste. WPR: How have relations between Indonesia and Timor-Leste evolved since Timor-Leste’s independence? Cillian Nolan: Good relations with Indonesia were a priority from the beginning for Timor-Leste’s current leaders, but the relationship really began to grow following the establishment of the Commission on Truth and Friendship (CTF) in 2005. […]

Having done all the right things at last week’s European Union summit, German Chancellor Angela Merkel found herself blamed, even attacked, in Germany for the summit’s outcome. Merkel helped prevent Spain — and, further down the line, Italy — from going bankrupt, thereby protecting German industries from the potential consequences. Yet, she faced an outcry back home that she had effectively allowed Germany to be blackmailed at the summit by a hostile alliance of French President François Hollande, Italian Prime Minister Mario Monti and Spanish Prime Minister Mariano Rajoy. This gap between what might be the first step toward a […]