Economics & Business Archive

On Feb. 17, during a meeting in New Delhi, Iranian President Hassan Rouhani and Indian Prime Minister Narendra Modi signed nine new bilateral agreements, including an 18-month lease of part of the Iranian port of Chabahar, near the Pakistan border, to India for an $85 million development project. Modi said the port deal would help expand “the centuries-old bilateral relationship.” In an email interview, Arshin Adib-Moghaddam, professor in Global Thought and Comparative Philosophies at the School of Oriental and African Studies in London and the recent author of “Psycho-nationalism: Global Thought, Iranian Imaginations,” explains the significance of the port deal, […]

TAIPEI, Taiwan—In early May 2016, a police raid on a suspected money-laundering operation in the Taiwanese city of Taichung instead uncovered a large and wide-ranging telecommunications scam. Based in the Dominican Republic, the operation spanned the world, stretching from Taiwan to China and the United States. According to Capt. Lee Chi-shun, an investigator with the Criminal Investigation Bureau of Taiwan’s National Police Administration who was heavily involved in the case, the small shop raided by local police turned out to be a data center where money that had been fleeced from victims of telecom fraud was transferred onward to bank […]

Jordan’s prime minister, Hani al-Mulki, reshuffled his Cabinet on Sunday, making changes in several key and telling portfolios, including the ministries of economy, labor and interior. The shakeup comes amid a period of public uneasiness over the direction of the country’s economy and who should bear the burden resulting from years of economic mismanagement by largely unaccountable policymakers. In early February, the government raised the sales tax from 6 to 10 percent on more than 160 basic food items, services and commodities ranging from eggs to electricity. Brand new sales taxes were also introduced on agricultural products that were previously […]

In late January, Yemen’s foreign minister, Abdul-malik al-Mekhlafi, traveled to Moscow where he met with his Russian counterpart, Sergey Lavrov. As they discussed the implementation of an elusive peace settlement in Yemen, Lavrov emphasized Russia’s willingness to mediate between rival Yemeni factions. Lavrov’s somewhat surprising announcement was followed up days later by a statement from the Russian Ministry of Foreign Affairs, offering to broker talks in the burgeoning conflict between separatists in southern Yemen and the forces of Yemen’s internationally recognized government, whose president is in exile in Saudi Arabia. Until recently, Russia has maintained a diplomatic presence in Yemen’s […]

On Feb. 1, Indian Prime Minister Narendra Modi unveiled a massive new health care program, already dubbed “Modicare,” aimed at providing free coverage to half a billion people. Yet details over when and how the program will be rolled out are still being formulated, with serious questions over how it will be funded. In an email interview, Indrani Gupta, a professor and head of the Health Policy Research Unit of the Institute of Economic Growth in New Delhi, discusses the ambitious new policy, India’s current health care system and the challenges ahead. WPR: What is driving the government’s ambitious plan […]

There is a future in which wind turbines, twice as tall as the Statue of Liberty, produce electricity across the United States. Because of their height, these turbines would generate power from stronger, more constant gusts, making wind power a viable option in all 50 states, instead of primarily those in the nation’s plains where there are steady, lower winds. In this same future, inexpensive solar cells would coat windows, turning office buildings and homes into self-reliant electricity “prosumers.” Best of all, these technologies would be American innovations. The United States could breathe a sigh of relief after China briefly […]

On Monday, a spokesman for a civil society group in Chad called Iyina became the latest government critic to be detained by security forces. According to police, Alain Kembah Didah was caught with a bottle of gasoline in his hand, preparing to burn a tire as part of an anti-government protest. Didah has disputed this account, but that didn’t stop Chadian authorities from taking him into custody and, according to Amnesty International, beating him to the point where he could barely stand. In Chadian Arabic, the name Iyina means “We’re fed up.” Its members aren’t the only ones who’ve been […]

Earlier this month, before leaving for a five-country trip in Latin America, U.S. Secretary of State Rex Tillerson speculated about a potential way out of the economic and political chaos in Venezuela. Perhaps, he suggested, the best solution was a military coup d’état. “In the history of Venezuela and South American countries, it is oftentimes that the military is the agent of change when things are so bad and the leadership can no longer serve the people,” he told an audience at the University of Texas. President Donald Trump first introduced the notion of prioritizing bullets over ballots in Venezuela […]

When Jacob Zuma formally resigned as South Africa’s president last week, some commentators used his overdue but less than gracious exit as an opportunity to reach for the famous words of U.S. President Gerald Ford, who in 1974 declared, in the wake of Richard Nixon’s resignation, that “our long national nightmare is over.” Those words capture both the widespread sense of disgust in South Africa at the malignant nature of the Zuma presidency, and the hope for a new beginning and a fresh start under Cyril Ramaphosa. The new president has chosen his words carefully so far, anxious not to […]

Editor’s Note: This article is part of an ongoing series about the production and trade of arms around the world. Earlier this month, Turkish President Recep Tayyip Erdogan vowed that his country would no longer buy defense systems, software or products from other countries, except in cases of emergency, in the interest of building up Turkey’s own defense industry. A NATO member, Turkey has bought arms from allies like the United States for years. In an email interview, Iyad Dakka, a fellow with the Centre for Modern Turkish Studies at Carleton University’s Norman Paterson School of International Affairs in Canada, […]

Saudi Arabia and Russia are gushing over their budding relationship. In a series of recent interviews, the Saudi energy minister, Khalid al-Falih, and his Russian counterpart, Alexander Novak, expressed soaring optimism over the future of their countries’ ties, and not just in managing oil markets. “Think of it as a relationship that is in decades and even in generations,” al-Falih told his CNBC interviewers in Davos, Switzerland on the sidelines of the World Economic Forum last month. Forged after the 2014 collapse in world energy prices, the unlikely partnership between the two Cold War-era adversaries is based first and foremost […]

When he was British prime minister, David Cameron promised that his country would become China’s “best partner” in the West. His recent decision to accept a leadership role in a new joint Sino-British investment fund—part of China’s ambitious Belt and Road development initiative, no less—shows that, even after his retirement from frontline politics, Cameron is still dedicated to making good on that commitment. Last month, as part of his new job, he had a personal meeting with Chinese President Xi Jinping in Beijing, where he expressed hope for a new “golden era” of U.K.-China relations, echoing what he said when […]

Last month, Japanese Foreign Minister Taro Kono traveled to Sri Lanka, where he announced Tokyo’s plans to invest in several infrastructure projects, including a natural gas terminal. It was the first visit to Sri Lanka by a Japanese foreign minister in 15 years. Following similar Japanese investment projects in India and elsewhere in the region, the Sri Lanka trip appeared to be the latest sign of a growing strategy aimed at countering China’s massive Belt and Road Initiative, also known as One Belt, One Road. In an email interview, Shihoko Goto, the senior Northeast Asia associate at the Wilson Center’s […]

Last week, negotiators from the European Union and Latin America’s Mercosur trading bloc, which includes Brazil, Argentina, Paraguay and Uruguay, concluded another round of unsuccessful talks in Brussels aimed at securing a free trade agreement. Negotiations between the two sides have been ongoing periodically for over two decades, and the most recent round again failed to provide a breakthrough, although talks will reconvene in Paraguay on Feb. 19. In an email interview, Sebastian Dullien, a senior policy fellow at the European Council on Foreign Relations and a professor of international economics at the applied sciences university HTW Berlin, discusses the […]

Editor’s Note: This article is part of an ongoing series about the production and trade of arms around the world. In late January, Australia’s prime minister, Malcolm Turnbull, unveiled a plan to make his country one of the world’s top 10 arms exporters. Currently, Australia exports about $1.5 billion to $2.5 billion in defense equipment annually, a figure that Turnbull said his government is seeking to increase significantly in the coming decade. In an email interview, Greg Colton, a research fellow in the International Security Program at the Lowy Institute in Sydney, explains what is behind the government’s strategy and […]

BELGRADE, Serbia—Is China building a Trojan horse in a divided Europe? The diplomatic initiative between China and 16 countries in Central and Eastern Europe, known as the 16+1, has become more controversial since its launch in 2012 at a summit in Poland. Critics worry that it may undermine the European Union’s unified approach to Beijing, weaken transparency in economic and diplomatic engagement, and give a secretive regime with an increasingly muscular foreign policy a foothold in Europe. The 16 European countries are all ex-communist states, and all but five are EU members. In January, Hans Dietmar Schweisgut, the EU’s ambassador […]

At the end of January, 23 African nations announced plans to launch a single aviation market in an effort to boost connectivity and economic growth. While airline executives and industry analysts described it as a “seismic event,” African states have not had the best track record implementing integration policies. In an email interview, Richard E. Mshomba, a professor of economics at La Salle University in Philadelphia and the author of “Economic Integration in Africa: The East African Community in Comparative Perspective,” explains what is behind the initiative, as well as the obstacles and opportunities for broader economic integration on the […]