Economics & Business Archive

Recent elections in Argentina, Colombia and Uruguay have added to the sense that South America is at a turning point, as mass protests have erupted in Ecuador, Chile and Bolivia. Something is indeed happening in the region, but those who claim that this is the return of the “pink tide”—the period in the early 2000s when leftist governments were sweeping to power—are missing the point. What is unfolding is not a counter-reformation, with the left reemerging after it was toppled and replaced by the right. It is something more subtle and potentially more lasting. South America is entering a post-ideological […]

Chile witnessed the largest protests in its history last weekend, with more than 1 million people filling the streets of Santiago to demand the government deal with economic inequality and the high cost of living—and to express their outrage over the authorities’ repression of an initial wave of protests earlier this month. For a moment, the massive demonstrations seemed like the climax to a movement that began two weeks ago in response to a subway fare hike, and that had seemed to be on the cusp of fizzling out. Instead, protests have continued this week, and more are planned for […]

Election Day is more than a year away, but foreign interference is already a daily headline, amid the impeachment inquiry into President Donald Trump’s efforts to pressure Ukraine to investigate former Vice President Joe Biden and his son, Hunter, who was on the board of a Ukrainian gas company. Many observers see Trump’s actions as an abuse of power and a blatant request for foreign election interference. But as this all plays out in Washington, undeterred foreign actors are planning more of their own disinformation campaigns on social media ahead of November 2020, again looking to divide the American electorate […]

From Lebanon and Iraq to Ecuador and Chile, popular protests have shaken governments and captured the imagination of pundits worldwide in the past few weeks. Combined with the mass demonstrations that forced regimes in Algeria and Sudan to cast aside longtime leaders earlier this year, as well as the Yellow Vest movement that stunned France from December 2018 through the late spring, some observers are wondering whether we are witnessing a revolutionary moment of global proportions. Has popular dissatisfaction with the unfair distribution of globalization’s spoils reached a tipping point? Or are these protests locally driven, offering little or no […]

A quarter of a century after labor standards first became a bone of contention in trade talks to conclude the North American Free Trade Agreement, weak enforcement of labor standards in Mexico is one of the key issues holding up a vote on President Donald Trump’s renegotiation of NAFTA, now rebranded the U.S.-Mexico-Canada Agreement. Every U.S. trade agreement since NAFTA has included language nominally aimed at protecting workers. Yet despite significant strengthening over the years, the labor provisions in those trade agreements remain controversial and largely ineffective for foreign and American workers alike. NAFTA was only the third free trade […]

The eventual victor in the chaotic and crowded contest for the Democratic presidential nomination remains to be seen. But one thing seems clear: The political energy in this election cycle is on the left. Elizabeth Warren, the senator from Massachusetts and would-be trust buster, has displaced faltering former Vice President Joe Biden as putative frontrunner. If any evidence of her rise were required, her competitors for the nomination provided it when they trained fire on her in the most recent presidential debate. But meanwhile, Bernie Sanders, Vermont’s independent socialist senator, is still a fundraising juggernaut, hauling in more than $25 […]

Given everything else around it—from political turmoil in Brazil under President Jair Bolsonaro and sudden street protests in Chile to a fiercely contested election in Bolivia and a likely change of government in Argentina’s upcoming polls—Uruguay’s general elections Sunday may easily pass under the radar. Yet the vote on Oct. 27, set to be Uruguay’s closest in 15 years, could end a long period of leftist governance in this famously liberal country of 3.5 million people, further tilting South America to the right. Conducted under a shadow of rising violent crime and sluggish GDP growth, the elections also coincide with […]

In this week’s editors’ discussion on Trend Lines, WPR’s Judah Grunstein, Frederick Deknatel and Laura Weiss talk about the protest movements in Lebanon and Chile, and the challenges they face in trying to bring down entrenched elites. They also discuss Bolivia’s contested presidential election and the implications for President Evo Morales’ legacy. If you like what you hear on Trend Lines and what you’ve read on WPR, you can sign up for our free newsletter to get our uncompromising analysis delivered straight to your inbox. The newsletter offers a free preview article every day of the week, plus three more […]

Editor’s Note: Every Friday, Andrew Green curates the top news and analysis from and about the African continent. Russian President Vladimir Putin had a message for African leaders this week: Moscow is ready to make some deals. Putin’s government brought 43 African heads of state or government to the Black Sea resort town of Sochi for the first-ever Russia-Africa Summit. The Russians simultaneously sent a pair of nuclear-capable bombers to South Africa, apparently the first time the Soviet-era aircraft had ever landed on the continent, reinforcing both Russia’s strategic capabilities and what it might be able to offer African governments. […]

Historic anti-government protests in Lebanon have shut down the country over the past week, with hundreds of thousands of people taking to the streets in Beirut and far beyond to demand the government’s resignation. Prime Minister Saad Hariri addressed the nation on Oct. 18, promising immediate reforms, but his words ultimately rang hollow as Lebanese continued to demonstrate in growing numbers. The Lebanese Forces, a prominent Christian political party, has already resigned its Cabinet members. The initial demonstrations in downtown Beirut late last week were a response to reports that the government would impose a $6 fee on the use […]

Until just a few days ago, Chile probably looked to most people like the most stable country in Latin America, and the least likely to erupt in massive social unrest. Few if any countries in the region have experienced decades of economic growth and an expansion of the middle class, alongside reliably fair and competitive elections. And yet last week, the streets of Santiago became the scene of violent clashes between thousands of protesters and security forces, leaving more than a dozen people dead and hundreds arrested. In response, President Sebastian Pinera deployed the military, imposed curfews and announced a […]

Portuguese Prime Minister Antonio Costa and his ruling Socialist Party scored a solid victory in parliamentary elections earlier this month, capturing roughly 37 percent of the vote and expanding their plurality in parliament from 86 to 106 seats. However, the Socialists fell short of the 116 seats needed for a majority, and are foregoing the formal support agreements with smaller left-leaning parties that allowed them to govern over the past four years. That means they will have to negotiate with other parties on an ad hoc basis in order to enact legislation. In an email interview with WPR, Sofia Serra-Silva, […]

Argentina will hold a general election Sunday, but a struggling economy means the odds are stacked heavily against incumbent President Mauricio Macri. One out of 10 working-age Argentines are unemployed, and the annual inflation rate stands at more than 50 percent. GDP contracted by 2.5 percent in 2018 and by another 2.5 percent during the first half of this year. Macri’s best hope is to force a runoff, but opposition presidential candidate Alberto Fernandez and his running mate, former President Cristina Fernandez, look likely to win outright in the first round of voting. This is not the first economic crisis […]

It’s not every day that one gets a chance to assess a Trump administration decision made on what looks like solid foreign policy principles. But unexpectedly last week, the State Department announced that it had established new rules governing the activities of Chinese diplomats posted to the United States. The changes require Chinese envoys to notify the State Department in advance of “official meetings with representatives of states, local and municipal governments; official visits to educational institutions and official visits to research institutions” in the U.S. Since the rationale given for this measure was reciprocity, meaning that Washington claims to […]

At their second informal summit in as many years, China’s Xi Jinping and India’s Narendra Modi, arguably the two most powerful leaders in Asia, eschewed confrontation for the sake of plodding along. While they hobnobbed in the seaside town of Mamallapuram in southern India earlier this month, they did little to resolve underlying border tensions and other contentious issues. Instead, Modi and Xi agreed on a few maxims—to be “factors for stability in the current international landscape” and to prevent “differences on any issue to become disputes.” While there was an emphasis on optics over substance, it is still encouraging […]

Despite saying that he would “rather be dead in a ditch” than delay Brexit, British Prime Minister Boris Johnson was forced to do just that late Saturday night, sending a letter to the European Commission requesting another extension for the United Kingdom’s long-awaited departure from the European Union. As with two earlier delays, the core challenges to resolving Brexit remain avoiding a highly disruptive, “no-deal” exit; keeping the Irish land border open; and defining trade relationships with the EU and the rest of the world that mitigate the costs of leaving the world’s largest customs union. The British Parliament refused […]

The protests may have ended, but the past few weeks in Egypt have indicated that, rather than a model of authoritarian stability, the regime that President Abdel Fattah el-Sisi has built is one of authoritarian fragility. And the regime’s actions make clear that it knows it. On Sept. 20, nationwide political protests broke out in Egypt for the first time since a brutal crackdown on demonstrators following the 2013 coup d’etat against President Mohamed Morsi that brought Sisi to power. The protests were sparked by a series of viral videos by an Egyptian actor and contractor named Mohamed Ali, who […]