Economics & Business Archive

In this week’s Trend Lines podcast, WPR’s editor-in-chief, Judah Grunstein, and senior editor, Frederick Deknatel, discuss the global reactions to U.S. President Donald Trump’s first week in office. For the Report, Daniel McDowell talks with Peter Dörrie about the problems facing globalism and how they are getting worse. Listen: Download: MP3Subscribe: iTunes | RSS Relevant Articles on WPR: With an Eye on China—and Trump—Japan Enhances Security Ties With Southeast Asia Could Trump’s Hard-Line Support End Up Backfiring for Israel’s Far Right? Temer Has Few Easy Choices to Solve Brazil’s Prison Crisis China’s Complicated Relationship With Workers’ Rights Globalization Was Already […]

While Donald Trump spent his first week as president of the United States rapidly upending ties with Mexico, undermining major free trade deals, and flaunting his protectionist ambitions, outgoing French President Francois Hollande visited Latin America, where he signed a host of bilateral agreements with Chile and Colombia. In Chile on Sunday, he warned against creeping protectionism, which he called the “worst response” that “impedes trade, hinders growth and even affects employment, including in countries that advocate for it and implement it.” The comment was an indirect jab at Trump and other populists on the rise, not least Marine Le […]

When five diplomats from the United Arab Emirates were killed in a bombing in Kandahar earlier this month, Afghan authorities quickly blamed the Haqqani network, which many suspect of having ties to Pakistani intelligence. That triggered speculation that the attack—the first on diplomats from a Gulf state in Afghanistan—was meant to send a message to the UAE about its growing counterterrorism cooperation with India. The timing of the blast was seen as especially significant since it came just weeks before Abu Dhabi’s powerful crown prince, Sheikh Mohammed Bin Zayed Al Nahyan, who is also the deputy supreme commander of the […]

Editor’s note: This article is the first in an ongoing WPR series about workers' rights in various countries around the world. Labor organizations in China expect worker protests, which are common around the Lunar New Year, to spike in the coming weeks, in large part because workers from the “new economy,” which includes e-commerce workers, are experiencing problems with overdue payments for the first time. In an email interview, Cynthia Estlund, the Catherine A. Rein professor at the New York University School of Law and author of “A New Deal for China’s Workers?,” discusses workers' rights in China. WPR: What […]

The world economy is caught in a vicious cycle that it cannot seem to break. It all began in 2008 with the shock of the global financial crisis followed two years later by the slow drip of the European debt crisis. In response to these events and the worldwide recession that accompanied them, many countries took steps to protect their economies from international instability and foreign competition. Yet creeping protectionism just acted as a further drag on economic growth. Continued tepid growth helped fuel the growing protectionist backlash in the industrialized world, which is poised to deliver a level of […]

Editor’s note: This article is part of an ongoing WPR series on income inequality and poverty reduction in various countries around the world. A recent study by Oxfam found that inequality is on the rise in India, and that the richest 1 percent of Indians control 58 percent of the country’s total wealth. In an email interview, Vamsi Vakulabharanam, an associate professor at the University of Massachusetts, Amherst, discusses income inequality and poverty reduction in India. WPR: What is the rate of income inequality in India, what are the latest trends in terms of widening or lessening inequality, and what […]

According to Human Rights Watch, a new rebel group in the Central African Republic—known as Return, Reclamation, Rehabilitation—has killed at least 50 people and displaced over 17,000 in the northwest of the country since late 2015. In an email interview, Igor Acko, a program specialist for the United States Institute for Peace based in Bangui, discusses the security situation in CAR. WPR: What are the main rebel groups in the Central African Republic, and who makes up their support bases? Igor Acko: The armed groups in the Central African Republic fall under two main categories: the Seleka and the Anti-Balaka. […]

Editor’s note: This article is part of an ongoing WPR series on income inequality and poverty reduction in various countries around the world. Mexico has one of the highest rates of inequality among developed countries, according to the Organization for Economic Cooperation and Development, with the richest 1 percent of the population owning almost half of the country’s wealth. In an email interview, Patricio Solís, a sociology professor at el Colegio de Mexico, discusses poverty reduction and income inequality in Mexico. WPR: What is the rate of income inequality in Mexico, what are the latest trends in terms of widening […]

That China is an export powerhouse is well established—“Made in China” products can be found in markets from Addis Ababa and Istanbul to Rome and New York. Despite a slowing economy, Chinese export of goods in 2015 totaled over $2.1 trillion, more than Italy’s GDP. But less remarked upon is the rise of China’s newest export: capital. In fact, during his speech at the World Economic Forum in Switzerland this week—the first by a Chinese president—President Xi Jinping not only vigorously defended free trade and globalization but also touted China’s efforts in facilitating global economic development. More than a formidable […]

A perfect storm is gathering in Mexico as the dawn of Donald Trump’s presidency north of the border coincides with domestic upheaval. While Trump’s threats on trade, immigration and border security have received the most attention, Mexico’s deeply unpopular president, Enrique Pena Nieto, also faces social unrest and a potential recession ahead of a presidential election in 2018—one in which, much as in the U.S., a populist underdog will look to capitalize on public anger. Since Jan. 1, headlines from Mexico have been dominated not by Trump, but by the so-called “gasolinazo,” a controversial yet inevitable decision by the Pena […]

Revolutions, by their intrinsic idealism, generate ideological extremism and destructive policies. Like the lava of an active volcano that indiscriminately burns everything in its path, revolutionary extremism devours what stands in its way. The 1979 Islamic Revolution in Iran was no exception. It brought to power idealistic and self-righteous revolutionaries with the mission to establish an Islamic order in Iran and beyond. Opponents of this agenda, many of whom operated outside of the new system, have been brutally suppressed. Individuals within the governing elite have attempted, with varying degrees of success, to soften this revolutionary extremism and gradually reform the […]

The one-year anniversary of the Iran nuclear agreement’s implementation on Monday—combined with Senate confirmation hearings for President-elect Donald Trump’s Cabinet nominees last week and the death of former Iranian President Akbar Hashemi Rafsanjani on Jan. 8—has put Iran back in the spotlight. In their congressional testimony, Trump’s nominees for foreign policy and national security posts offered a range of views about the nuclear agreement and the larger problem of Iran for U.S. national interests. At the same time, Iranians are debating the implications for Iran’s foreign policy of Rafsanjiani’s final exit from the political stage. While the net effect of […]

Editor’s note: This article is part of an ongoing WPR series on income inequality and poverty reduction in various countries around the world. With general elections due either later this year or in 2018, Sierra Leone’s opposition parties have been frequently criticizing the ruling All People’s Congress party for its handling of the country’s endemic poverty and growing crime rate. In an email interview, Tristan Reed, an independent economist, discusses poverty and income inequality in Sierra Leone. WPR: What is the rate of income inequality in Sierra Leone, what are the latest trends in terms of widening or lessening inequality, […]

Resource booms and busts are a sad reality for most commodity-based developing countries, and Trinidad and Tobago is no exception. While by far the wealthiest of the Caribbean economies, thanks to its oil and gas resources, the country is currently mired in a severe recession after the collapse of world oil prices beginning in 2014. The economy contracted by 1 percent that year, followed by further declines of 2.1 percent in 2015 and 2.8 percent in 2016, according to data from the International Monetary Fund. Oil and gas, which make up about 40 percent of gross domestic product and 80 […]

Venezuelans endured a particularly difficult year in 2016. Inflation skyrocketed; scarcities lingered; crime continued to soar; and the Venezuelan currency plummeted, albeit with a bit of a December rebound as OPEC cut oil production levels and the government eliminated its 100-bolivar note, its largest and most-used bill. The year offered little respite for Venezuelan President Nicolas Maduro, too. The opposition, which has controlled the National Assembly for the past year, continued to press for a recall referendum, while many political actors abandoned the dialogue mediated by the Vatican. Beyond the country’s borders, conservative governments replaced leftist ones in Argentina and […]

When U.S. President Barack Obama took office eight years ago, his two overarching foreign policy goals were to oversee the winding down of America’s costly wars in Iraq and Afghanistan, and to repair the damage to America’s global standing and reputation that the invasion of Iraq and the excesses of the global war against terrorism had caused. A major component of the latter project involved reassuring America’s allies, partners, friends and rivals that Washington would recommit itself to the global order it had helped build and defend during and after the Cold War. This meant not only backstopping the rules-based […]

The election of Donald Trump as president of the United States imperils the liberal international order that America has championed since World War II. That open world was already operating under strain, challenged by rivals and upheaval abroad. But suddenly, it is vulnerable at home, too. A wave of angry populism has propelled to power a nationalist leader who campaigned on a promise to put “America First.” As a candidate, Trump questioned longstanding U.S. alliances like NATO, criticized international institutions like the United Nations, and promised to abandon major trade, arms control and climate agreements. Little wonder that liberal internationalists […]