Economics & Business Archive

For years, many Western and even Russian analysts expected that a resolution of Iran’s nuclear dispute with the West would weaken ties between Tehran and Moscow. However, in the months since July’s nuclear deal, relations between Iran and Russia have strengthened, while Tehran’s ties with the West have stagnated. The Syrian war, as well as skillful Russian diplomacy, have short-circuited, at least for now, any anticipated Iranian geopolitical reversal after the nuclear deal. Russian President Vladimir Putin’s visit to Iran in late November, the first visit by a Russian president since 2007, was the latest indication of healthy ties. Although […]

In this week’s Trend Lines podcast, WPR’s Editor-in-Chief Judah Grunstein and host Peter Dörrie discuss the major trends that shaped 2015, a year marked by the re-emergence of borders and national approaches to transnational problems. Listen: Download: MP3Subscribe: iTunes | RSS Trend Lines is produced, edited and hosted by Peter Dörrie, a freelance journalist and analyst focussing on security and resource politics in Africa. He can be followed on Twitter at @peterdoerrie.

Nepal stands on the brink of an economic crisis, after what it alleges is an India-imposed blockade of its borders for the past three months. Pushing back, Nepali leaders are vowing to work toward economic self-reliance and ease their dependence on India, to the advantage of New Delhi’s rival, China. “Nepal-India relations are at their lowest ebb right now,” says Yubaraj Ghimire, a Kathmandu-based commentator. The blockade of this landlocked nation began on Sept. 23, three days after Nepal officially adopted its new constitution. Critics argue the charter does not give fair political representation to two ethnic groups, the Indian-origin […]

Editor’s note: This article is part of an ongoing WPR series on the Trans-Pacific Partnership and the potential impact on members’ economies. Lukewarm industry support in the United States for the Trans-Pacific Partnership (TPP) has put the ratification of the 12-nation trade deal by Congress into question. In an email interview, Edward Alden, a senior fellow at the Council on Foreign Relations, discussed the potential benefits and downsides of the TPP for the U.S. WPR: What economic benefits is the U.S. expected to see from its participation in the TPP? Edward Alden: The short-term benefits are likely to be modest. […]

In June 2014, a video released by FUNAI, the Portuguese acronym for Brazil’s Department for Indian Affairs, captures the moment seven members of an unnamed, previously uncontacted tribe from the Amazon rainforest made their first voluntary contact with the modern world. The video shows the men emerging naked from the forest onto the banks of the River Envira in the western Brazilian state of Acre, close to the Peruvian border. After calling out, singing and signaling with their hands, they crossed the river to a small indigenous settlement of the local Ashaninka people on the other side. The men told […]

Recep Tayyip Erdogan’s trip to Qatar two weeks ago was his second to the tiny oil- and gas-rich Arab state since he was elected Turkey’s president last year. The visit was significant because it inaugurated the first High-Level Strategic Cooperation Council meeting between the two countries, a mechanism created last year to deepen bilateral cooperation in strategic sectors. During Erdogan’s visit, 16 separate agreements were signed for everything from education and maritime affairs to travel and energy. Some of the agreements—such as cooperation on archives, credential recognition in the maritime industry and public finance management—were technical in nature. Others, such […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. Recently elected Canadian Prime Minister Justin Trudeau announced that his government is ready to use fiscal stimulus in order to boost Canada’s economy, which continues to suffer from the ongoing decline in commodities prices. In an email interview, Donald Drummond, an adjunct professor and Stauffer-Dunning fellow at Queen’s University, discussed Canada’s economy and the impact of the commodities bust. WPR: How important are commodities for Canada’s economy, and what impact have falling commodities prices had on jobs, […]

With the end of his second term in sight, debates about President Barack Obama’s legacy in various policy areas are underway. When it comes to national security, his administration will be the first for which cybersecurity will feature prominently in legacy terms. Although former President George W. Bush focused on cybersecurity more than his predecessor, 9/11 and the wars in Afghanistan and Iraq determined his administration’s national security legacy. Obama entered office intending to make cybersecurity a priority, and it became a major feature of his administration’s national security efforts—just not in the ways he had envisioned. Examining the gap […]

The energy world has been abuzz since Mauricio Macri won a surprise victory in Argentina’s presidential elections on Nov. 22. The former mayor of Buenos Aires’ pro-business platform has raised expectations at home and abroad among investors and analysts anxious for change. Argentina has the potential to be both a regional and global energy leader, but after 12 years of Kirchnerismo, Macri has a long road ahead. Still, the prospects for an economic and energy turnaround have never been brighter, and Argentina’s energy sector has the potential to become a significant driver of future economic growth. Macri, who was sworn […]

Last week, World Politics Review launched Trend Lines, its new weekly podcast, which will appear every Friday. The show has two sections: In the Briefing, host Peter Dörrie interviews a WPR editor about the week’s most important events. In the Report, a WPR contributor or on-the-ground source takes an in-depth look at a single issue. In this week’s Briefing, WPR Editor-in-Chief Judah Grunstein and Peter Dörrie discuss China’s naval diplomacy, French elections and Iraqi politics. For the Report, Edward Alden of the Council on Foreign Relations joins us to give his insights into global trade negotiations and how the Trans-Pacific […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. According to a recent report in the Financial Times, certain regions of Australia have been hard hit by the commodities bust and declining Chinese demand. In an email interview, David Meredith, an associate member of the history faculty at the University of Oxford, discussed Australia’s economy and the role commodities play. WPR: How important are commodities for Australia’s economy, and what effect have falling commodity prices had on Australia’s economic growth? David Meredith: Although Australia has other […]

In recent years, Algeria has focused more of its foreign policy on its immediate neighborhood, both in North Africa and farther south in the Sahel. Its busy foreign minister, Ramtane Lamamra, has been active in mediation efforts in Mali, Libya and Tunisia, earning plaudits from Western partners. Some officials and observers have seized on this foreign policy outreach as a purported “awakening” of Algerian diplomacy in Africa, a revitalization of the country’s historically strong role in continental affairs. Lamamra himself highlighted Algeria’s important regional efforts in an interview in October with the French daily Le Monde. But has Algeria’s Africa […]

U.S. Secretary of State John Kerry’s trip to Kosovo last week was literally a “flying visit”; he didn’t leave Pristina’s Adem Jashari Airport. But that didn’t diminish the significance of the trip, which comes at a delicate time for Kosovo’s government. Prime Minister Isa Mustafa’s administration faces a domestic opposition so enraged that it has resorted to dropping tear gas in parliament, and a sharp worsening of relations with Serbia. Kosovo has also seen a larger proportion of its citizens join the self-proclaimed Islamic State than any other country in Europe, with high unemployment and disillusionment with mainstream politics making […]

In the years leading up to the Iran nuclear deal, Iran and China found their interests at times aligning and at others diverging. Since the late 1990s, China had reduced its defense ties with Iran under U.S. pressure. At the same time, espousing a discourse of peace and cooperation, Beijing did not want the West to go to war with Iran. Moreover, Tehran’s perseverance in the face of Western efforts to isolate Iran was a counterbalancing force against U.S. hegemony in the Middle East, which suited China’s strategic interests. However, the conflict with Iran over its nuclear program also indirectly […]

There is no other area of global governance—not climate change, not management of the oceans, not monetary policy, not peacekeeping—in which the nations of the world have agreed to cooperate more closely than on the rules governing international trade. But over the past half-century, each step toward greater trade cooperation has been a bit harder than the last. The fate of the Trans-Pacific Partnership (TPP) trade agreement—the recently concluded mega-regional deal linking the United States, Japan and 10 other Pacific Rim countries—will likely decide whether the historic project of building better global rules for trade continues, or collapses under its […]

On Monday, the Executive Board of the International Monetary Fund (IMF) voted to add China’s currency, the yuan or renminbi, to a very short list of elite global reserve currencies. Next fall, the yuan will officially be added to the IMF’s Special Drawing Rights (SDR) basket of currencies, which presently includes just the dollar, euro, yen and pound sterling. In part, the decision reflects the undeniable reality of China’s economic rise. However, the decision is also a pragmatic, perhaps even savvy, move by the IMF and the United States to further incorporate China into an international financial order that largely […]

Across Africa, there is renewed interest in strengthening infrastructure. In November, the African Development Bank held its “first-ever Programme for Infrastructure Development in Africa Week” in Abidjan, the economic capital of Cote d’Ivoire. The conference emphasized infrastructure, especially transportation and communications, on the continent. Infrastructure development is important not just to economies, but also to politics. In Africa’s two most populous countries, Nigeria and Ethiopia, the politics of infrastructure look very different, but the stakes are equally high for ruling parties. In Nigeria, questions of infrastructure relate to core dilemmas in Nigerian politics and policy. Since returning to civilian rule […]