Economics & Business Archive

Last month, Greek lawmakers approved significant changes to the country’s electoral system that were proposed by the ruling, left-wing Syriza party, in what it called an attempt to make the electoral system more democratic. The law gets rid of a 50-seat bonus that is given to the party that receives the most votes, reduces the voting age from 18 to 17, and reduces the electoral threshold for a political party to enter parliament. The law passed by a majority in the 300-seat parliament, but because it received less than the 200 votes needed for the reforms to go into effect […]

T.X. Hammes, of the National Defense University in Washington, is one of America’s most visionary strategic thinkers. Anything he writes deserves a careful reading, but a recent essay of his for War on the Rocks is particularly noteworthy. In it Hammes argues that globalization, which has profoundly shaped world events for the past few decades and laid the foundation for America’s grand strategy, seems to be reversing. If so, he argues, “the increasing regionalization of economies and differences in rates of growth will create instability and challenge international security arrangements.” Hammes believes that just as technology fueled the rise of […]

It is no secret that Saudi Arabia is experiencing a sharp economic slowdown and has decided to respond by implementing far-reaching economic reforms. But in recent days, a less well-known aspect of this transformation has become visible, highlighting the repercussions and potential risks of the kingdom’s crisis. Less than 60 days after the Saudi government announced its five-year National Transformation Program, part of the larger Vision 2030 reforms, the government of India announced it had launched an emergency operation to rescue thousands of desperate Indian nationals caught in Saudi Arabia’s economic crosscurrents. The plight of large numbers of South Asian […]

It has become a bit of a surreal experience to fly into Kinshasa, the capital of the Democratic Republic of Congo, or DRC. Visitors are greeted by a modern terminal, opened in 2015 and capable of servicing 1 million passengers a year. The fresh tarmac of a 10-lane highway that glides commuters into the city center is lined with solar-powered streetlights and stops for a new public transit system. Clearly Kinshasa is trying its best return to its former glory, when it was admiringly called “la belle.” On the surface, a lot has changed since the last presidential election in […]

Editor’s note: This article is part of an ongoing WPR series on countries’ risk exposure, contribution and response to climate change. Last month, Canadian Prime Minister Justin Trudeau said in an interview that imposing a “strong” price on carbon is an “essential element” of his government’s climate change policy. In an email interview, Amin Asadollahi, the lead for climate change mitigation at the International Institute for Sustainable Development, discusses Canada’s response to climate change. WPR: How big of an issue is climate change domestically, and what role has Canada played in regional and global efforts to address climate change? Amin […]

A bloody summer, with attacks from Orlando to Nice to Bangladesh, has left many wondering what compels an individual, whether a low-level criminal with a history of domestic violence or a student at an elite private school, to massacre civilians in the name of the so-called Islamic State or another extremist group. Even more confounding is how to stop them. That question isn’t new, or unique to the rise of the Islamic State. For years, governments, analysts and observers have worked to understand the drivers of radicalization and how best to block the road to extremism, particularly among youth. In […]

Shock waves from Venezuela’s precipitous economic collapse have finally reached Cuba. They are forcing drastic cuts in energy consumption, slashing economic growth from 4 percent last year to just 1 percent in 2016, and raising fears of another “Special Period”—the catastrophic economic decline in the 1990s that followed the collapse of Cuba’s previous patron, the Soviet Union. Cuba’s predicament was foreshadowed by the plunging price of oil on the world market and Venezuela’s declining production, down 12 percent in the past year alone. Nevertheless, for several years Venezuela continued to meet its obligation to ship some 80,000 to 90,000 barrels […]