Economics & Business Archive

From the United States to Australia, countries are tightening restrictions on investment in strategic sectors like energy and defense, with a wary eye toward China. There are mounting concerns globally about the pitfalls associated with Chinese investment and whether it is a Trojan horse for Beijing to gain access to critical technologies, data and infrastructure that it can use for its own military ends. Europe is not immune to these concerns, and late last year, the European Union passed an investment screening mechanism of its own that specifically targeted China. Yet the EU will still have to do more to […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. Two incidents at Canadian universities earlier this month have renewed concerns that Chinese students based overseas are being used as tools in Beijing’s soft-power influence campaign. On Feb. 11, a group of Chinese students at McMaster University in Ontario documented an on-campus presentation about China’s mass internment of Uighurs and reported it to the Chinese Consulate in Toronto. The presentation was given by Uighur-Canadian activist Rukiye Turdush, who later said a Chinese student “ostentatiously recorded the entire presentation” and […]

The high-profile arrests last month of a former Polish intelligence official and a Huawei executive in Poland have stoked an ongoing policy debate in Warsaw over how to calibrate its relationship with China. The 16+1 framework, which Beijing introduced in 2012 to promote engagement with Central and Eastern Europe, raised expectations among Polish officials for increased Chinese investment and trade ties. But those hopes have been slow to materialize, and in the meantime, national security concerns, primarily over espionage and Beijing’s long-term goals in the region, have grown. In an interview with WPR, Patrycja Pendrakowska, president of the board at […]

The World Trade Organization now has more than 160 members, ranging from the United States to tiny Burundi, the poorest country in the world, according to the World Bank. Afghanistan and Liberia are the WTO’s newest members, joining in 2016, and they are similarly poor and underdeveloped. Under WTO rules, developing countries receive “special and differential treatment” in recognition of their higher levels of poverty and lower levels of capacity to implement certain trade obligations. Yet the WTO has no objective criteria that define the difference between “developed” and “developing” member states. Rather, countries can “self-declare” as a developing country, […]

Final preparations are underway in Hanoi, Vietnam, for this week’s summit meeting between President Donald Trump and North Korean leader Kim Jong Un. U.S. officials hope that in addition to providing a venue and facilitating logistics, their Vietnamese hosts will offer a dose of potent symbolism. Near the end of the Cold War, Vietnam, like North Korea today, was an authoritarian one-party state with a military-driven command economy, diplomatically isolated and struggling to feed its population. Since introducing market-oriented reforms in the late 1980s, it has grown into a regional economic powerhouse while maintaining its closed political system. It also […]

A country’s gold reserves are meant to provide stability and financial ballast, not cash for everyday purchases. Only in the most extreme cases do they become a source of currency for vital supplies. That is exactly what is happening in Venezuela, where the political crisis has triggered the kind of international intrigue usually scripted in Hollywood. The embattled government of President Nicolas Maduro is trying to cash in its reserves while the opposition and its foreign backers maneuver to keep the country’s gold and any hard currency from its sale out of Maduro’s hands. This intrigue involving bank vaults and […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. Sweden’s ambassador to China was recalled to Stockholm last Thursday and is under investigation for allegedly brokering a meeting between two mysterious businessmen and Angela Gui, the daughter of a Hong Kong-based Swedish bookseller who has been in Chinese custody for three years. It is the latest in a string of puzzling episodes involving foreign diplomats in China. The story can be traced back to 2015, when Gui’s father, who published politically sensitive books about top Communist Party leaders, […]

After seven years of war, the Central African Republic has taken a shaky step toward peace. The United Nations announced in early February that the Central African government and 14 armed groups had agreed to a draft peace accord after 10 days of negotiations in Khartoum. The deal is a promising first step, but the drivers of conflict in CAR need to be addressed for a lasting peace to take hold, as competition for natural resources, ongoing ethnic disputes and, to some extent, religious cleavages, have all complicated past peace efforts. The agreement, provisionally signed on Feb. 6, calls for […]

After a return of tension to U.S.-Cuba relations, will a new Cuban leader be able to revive the brief thaw? Find out more when you subscribe to World Politics Review (WPR). Just three months after Miguel Diaz-Canel took over the presidency of Cuba from Raul Castro, his government unveiled the draft of a new constitution and sweeping new regulations on the island’s emergent private sector. While the changes announced represent continuity with the basic reform program Raul Castro laid out during his tenure, they are nevertheless significant milestones along the road to a more market-oriented socialist system. For the economy, […]

China’s military modernization is expanding to the open ocean, and the U.S. Navy is worried. Find out more when you subscribe to World Politics Review (WPR). While the United States Navy struggles to figure out if, how and when it can expand the size of its combat fleet by 47 ships—a 15 percent increase—China’s military modernization efforts are cranking out around a dozen new large warships a year. Recently, the busy shipyard in the port city Dalian put to sea China’s second aircraft carrier, following up on that milestone two months later by simultaneously launching two Type 055-class cruisers. With […]

Much has been written about the significance of the peace deal between Ethiopia and Eritrea for the Horn of Africa. Less attention has been paid to what it means for ordinary Eritreans. So far peace has sparked hope that the Eritrean economy will improve, but there are few signs of the political opening that many citizens dearly hope for. Back in July 2016, I was invited to a gathering late one night at a popular bar in Asmara, the capital of Eritrea. The gathering was a traditional and quite elaborate coffee ceremony, the kind typically held in the afternoon in […]

Trade negotiators typically prefer to discuss the details of agreements in secret while negotiations are ongoing, only revealing their handiwork when they are done. Even then, however, the length and legal density of trade agreements mean that only trade lawyers and industry specialists can readily figure out how a particular deal will affect ordinary citizens. For example, the U.S.-Mexico-Canada Agreement, as the revised NAFTA is known, has 34 chapters and is roughly 1,000 pages long, to say nothing of its hundreds of additional pages of specific tariff commitments, annexes and side letters. In the United States, the law governing ratification […]

As the Syrian civil war grinds to an end, the government in Damascus, propped up by Iran and Russia, is regaining its footing, with important implications for the balance of power in the Middle East. Syria’s neighbors and powers outside the region are now attempting to determine the appropriate level of engagement, if any, to have with President Bashar al-Assad’s regime. While Assad’s main foreign patrons will no doubt continue to deepen their military, political and economic ties, it is countries that stood against him over the past seven years that now have the most difficult decisions to make. If […]

As Iran celebrates the 40th anniversary of the Islamic Revolution, the United States’ confrontational policy toward Tehran under President Donald Trump presents a real challenge for the Iranian political elite, particularly the moderates among them. Trump’s policy of reimposing economic sanctions aims to impose “maximum pressure” on Iran in order to provoke a change of behavior in Iranian regional policy. Far from accomplishing its goals, the U.S. approach is more likely to strengthen conservative factions within Iran and give the moderates, including President Hassan Rouhani, an excuse for not working toward their electoral promises of granting greater freedoms and pursuing […]

Bahraini soccer player Hakeem al-Araibi was released from jail this week in Thailand, after the authorities in Bahrain dropped an extradition request related to his participation in anti-government protests in 2011. He is now back in Australia, where he has refugee status. Dissidents and government critics inside Bahrain have not been as fortunate, as the country’s highest court recently upheld life sentences against three opposition leaders on charges of spying for Qatar. In an interview with WPR, Neil Quilliam, a senior research fellow with the Middle East and North Africa program at Chatham House, discusses Bahrain’s crackdown on dissent and […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. While the mass incarceration of more than 1 million Uighur Muslims in China’s Xinjiang autonomous region continues to garner media attention and international condemnation, Muslim-majority countries have been largely silent on the issue. On Saturday, Turkey bucked that trend when it issued a statement calling on China to close its internment camps and criticizing the “torture and political brainwashing” of Chinese Uighurs as “a great shame for humanity.” The statement was prompted by recent reports that Abdurehim Heyit, a […]

DAKAR, Senegal—When National Security Adviser John Bolton unveiled a new U.S. strategy for Africa in December, commentators were quick to notice that its overarching purpose is containing China. According to Bolton, China, and to a lesser extent Russia, are “deliberately and aggressively targeting their investments in the region to gain a competitive advantage over the United States.” He claimed that China’s “predatory practices stunt economic growth in Africa, threaten the financial independence of African nations, inhibit opportunities for U.S. investment, interfere with U.S. military operations, and pose a significant threat to U.S. national security interests.” A more deliberate reading of […]