Economics & Business Archive

Earlier this month, Brazilian President Jair Bolsonaro made his first trip to neighboring Argentina since taking office. The focus of his visit with President Mauricio Macri was largely on economic issues, as the two presidents discussed ways to deepen trade and investment ties and strengthen Mercosur, the regional trade bloc that also includes Paraguay and Uruguay. But for both Bolsonaro and Macri, their meeting was also an opportunity to advance a positive foreign policy agenda as they both face mounting political challenges at home. In an interview with WPR, Leonardo Bandarra, a research fellow specializing in Latin America at the […]

President Donald Trump views foreign policy through the narrow lens of economic self-interest. He has reduced the notion of American power and influence to a question of whether the United States is getting a “good deal,” measured only in terms of who is paying for what—say, the cost of basing U.S. troops. Gone are any references to the intangible benefits of international cooperation, let alone the common good. It’s how he has approached relations with NATO and with America’s allies in Asia. In recent days, this economic-centric view of U.S. foreign policy has been on display in Trump’s clumsy and […]

The results of Sunday’s rerun election for mayor of Istanbul sent headline writers and political commentators scrambling for the right description. One Turkish newspaper called the crushing defeat of President Recep Tayyip Erdogan’s hand-picked candidate an “earthquake.” Another called it a “people’s victory.” Cumhuriyet, the main opposition daily, declared that “one-man rule” had been “thrashed.” Voters in Istanbul, the city where Erdogan was born and where he rose to power as mayor himself in the 1990s, turned firmly against him, setting the country’s political landscape in flux. The opposition is invigorated and Erdogan, who has become the most dominant figure […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. When Chinese President Xi Jinping and U.S. President Donald Trump meet Saturday at the Group of 20 leaders’ summit in Osaka, Japan, as expected, the ongoing trade war will be at the top of the agenda. With negotiations at a standstill since May, the meeting is an opportunity to break the deadlock—and for Trump to back off his threats to impose tariffs on nearly all Chinese imports that are not already taxed. A breakthrough was expected last month, until […]

President Donald Trump is traveling Wednesday to Osaka, Japan, for the G-20 leaders’ summit, where the packed agenda includes a much-anticipated meeting with Chinese President Xi Jinping. “The world’s eyes will be on the Trump-Xi meeting,” WPR columnist Stewart Patrick wrote this week, as the two leaders will try to get negotiations for a trade deal back on track after talks broke down last month. From Japan, Trump will travel on to South Korea for talks with President Moon Jae-in about how to restart stalled diplomacy with North Korea over its nuclear program. As the former top U.S. diplomat for […]

Editor’s Note: Guest columnist Neil Bhatiya is filling in for Judah Grunstein this week. Escalating tensions in the Persian Gulf peaked last week when President Donald Trump abruptly canceled U.S. airstrikes against Iranian military assets, after Iran shot down an unmanned American surveillance drone over the Gulf of Oman. Trump’s ordering of military strikes, only to change his mind apparently at the last moment, has raised more questions about the administration’s strategy toward Iran and its ultimate goals. Trump’s decision to call off the airstrikes seemed to indicate that he doesn’t see a military solution to this growing crisis, even […]

If the U.S.-China trade war develops into a broader cold war, as some observers fear, it will be nothing like the actual Cold War. Between civil war in Russia after World War I, the Great Depression in the United States and then the cataclysm of World War II, America and the Soviet Union never had a chance to develop a significant economic relationship before things hardened into a stark East-West divide. When Washington adopted a containment strategy that blocked most trade with the Soviets, including technology transfers, it had relatively little impact on either economy. The situation with China today […]

This weekend, Japanese Prime Minister Shinzo Abe welcomes world leaders to Osaka for the annual summit of the Group of 20. This club of major economies has been at the forefront of global governance since November 2008, when U.S. President George W. Bush convened an emergency committee to help rescue a world plummeting into the financial and economic abyss. The G-20’s ambit has since broadened to encompass an ever-expanding range of global issues. The Osaka summit continues that trend. Japan set an ambitious agenda for its presidency of the G-20, which rotates every year. Major themes include removing structural impediments […]

Thousands of people gathered in Liberia’s capital, Monrovia, earlier this month to protest against a faltering economy and widespread corruption in the government. They blame President George Weah, a former football star who took office last year amid heightened expectations. Since then, corruption has continued to run rampant and economic conditions have only worsened. In an email interview with WPR, Elizabeth Donnelly, deputy head of the Africa Program at Chatham House in London, discusses the recent demonstrations and whether there is anything Weah can do to regain his “man of the people” image. World Politics Review: How significant was the […]

In recent weeks, the Dominican Republic has found itself at the center of a human tragedy and public relations nightmare. Mounting reports of the unexplained deaths of tourists were interrupted briefly by news of the shooting of David Ortiz, a beloved and recently retired Dominican star of Major League Baseball, at a club in Santo Domingo. It added yet another black mark to a country whose economy has become increasingly dependent on attracting visitors. What toll will this all take on the economy, and on Dominican politics? It wasn’t very long ago that the Dominican Republic was riding a wave […]

The ballots hadn’t even been counted yet when the deals were announced. On April 26, just two days after Election Day, Indonesia signed 23 memorandums of understanding with China, worth $14.2 billion in all, for several major infrastructure projects. They came after months of silence about Chinese investment in Indonesia—by design, as President Joko Widodo feared attempts by the opposition to paint him as being too pro-China. It worked, as, in the end, the issue of Chinese investment did not play the same divisive role in Indonesia that it did in elections in Malaysia, the Maldives and Sri Lanka. Instead, […]

President Donald Trump likes trade wars because he thinks they are “easy to win,” as he infamously put it, and because he thinks they will help improve the trade balance. Trump claims past American presidents have been weak, allowing other countries to take advantage of the United States in trade negotiations. As evidence, he points to the large American trade deficit. But any economist worth her salt will tell you that the deficit doesn’t reflect what Trump thinks it does. Instead, it simply reflects the propensity of Americans to spend more than they save and invest. Trump is wrong about […]

Eleven months ago, with little fanfare, U.N. Secretary-General Antonio Guterres appointed a High-Level Panel on Digital Cooperation, co-chaired by Melinda Gates of the eponymous Bill and Melinda Gates Foundation and Jack Ma, founder of Chinese e-commerce giant Alibaba. Guterres assigned the group of 22 luminaries a daunting task: to figure out how to maximize the benefits and minimize the harms to humanity posed by the digital revolution. Last week, the panel delivered its conclusions in a report on “The Age of Digital Interdependence.” Unfortunately, the panel’s findings are apt to fall on deaf ears as the world grows more divided […]

When Peter O’Neill resigned in late May after eight years as prime minister of Papua New Guinea, he left behind a troubled legacy of corruption allegations and economic mismanagement. His successor, James Marape, has pledged to take on corruption and make legal changes to ensure that benefits from the impoverished country’s oil and gas reserves are shared more equitably. But at this early stage, it is not yet clear that Marape will follow through on those promises, says Michael Kabuni, a lecturer in political science at the University of Papua New Guinea. In an email interview with WPR, he explains […]

Earlier this month, the retired general who led a military coup in Thailand five years ago, Prayuth Chan-ocha, was formally confirmed as prime minister by King Vajiralongkorn, after parliament unsurprisingly voted to hand the position to the former coup leader. Of course, Prayuth, who did not even run in Thailand’s elections in March, was in the position to win the parliamentary vote because, since the coup, the junta he led had essentially hand-picked the upper house of parliament, after rewriting the constitution to make the Senate appointed, and overseen other constitutional changes that weakened large and anti-military parties. Then, after […]

Last year, Nicaragua looked like it might slide into civil war. Facing mass protests, President Daniel Ortega and his wife, Vice President Rosario Murillo, responded with repression and violence that only added fury to demonstrators’ demands. One year later, it is clear the two have survived the greatest challenge so far to their move to remain in power indefinitely. But their legitimacy is shattered, the country’s economy is in shambles, and the worst may be yet to come. If all goes according to Ortega’s plan, the protests that started in April 2018 will formally come to an end within a […]

North Korea has never been an easy country to understand from the outside. But the recent cycle of seemingly contradictory developments in one the world’s most isolated countries appears especially bewildering. Last month, there were reports of a major leadership shakeup in Pyongyang, followed by a startling report in South Korean media that several key North Korean officials who had been in charge of negotiations with the United States had been executed or purged. Within a week, however, several of these officials resurfaced. These stories are a reminder that all too often, the immediate coverage about the North Korean state […]