Economics & Business Archive

In three weeks, Iranians will go to the polls to choose a new parliament. For President Hassan Rouhani, a relative moderate and ardent supporter of the now-moribund international agreement curbing Iran’s nuclear program, the parliamentary vote on Feb. 21 could be the first note in his political swan song. With some 90 percent of Iran’s reform candidates disqualified in a decision issued by the hard-line Guardian Council this week and reformists threatening an election boycott, it seems highly unlikely that Iran’s pro-reform bloc will be able to stitch together much of a showing at the polls. That’s bad news for […]

Not so long ago, nations of what was once called the Third World commonly looked to each other as prospective allies and partners, even extending their diplomatic ties across the oceans in order to advance their shared interests and protect themselves amid the dangers and complexities of the Cold War. The most famous moment of this period was undoubtedly the Bandung Conference in Indonesia in 1955, which brought together 29 Asian and African states with a combined population of 1.5 billion people and led to the formation of the Non-Aligned Movement. The momentum of Bandung was seriously blunted by the […]

Two weeks after it was signed, President Donald Trump’s phase-one trade deal with China, which the White House typically hyped as a “landmark” and “historic agreement,” is looking more suspect. There were always questions about what was left out of the deal—especially industrial subsidies in China and continued tariffs on hundreds of billions of dollars in imports from China. But now there is growing skepticism about the value of what is actually in the deal. What happened to the $40 billion to $50 billion in additional sales that Trump promised American farmers? Can Beijing really deliver on its commitment to […]

A recently released trove of more than 700,000 leaked documents illuminate the shocking extent of corruption and kleptocracy in Angola. The files, known as the Luanda Leaks and published by the International Consortium of Investigative Journalists and dozens of partner media outlets, detail how the country’s former first daughter, Isabel dos Santos, abused her power for personal gain, amassing a fortune estimated at $2.2 billion and earning her the title of “Africa’s richest woman.” Dos Santos, who splits her time mostly between London and Dubai, allegedly exploited positions of influence given to her by her father, Jose Eduardo dos Santos, […]

In this week’s editors’ discussion on Trend Lines, WPR’s Judah Grunstein and Freddy Deknatel talk about the recent evolution of the World Economic Forum, which was held this week in Davos, Switzerland. In the aftermath of the global financial crisis, the elite crowd at Davos has tried to critically engage with the negative consequences of globalization, particularly the brand of globalization it has championed. That reflects the degree to which income and wealth inequality, the climate crisis and the downsides of new technologies have become central topics in political debates around the world. But how much of the newfound social […]

The stunning allegation this week that Saudi Crown Prince Mohammed bin Salman hacked the phone of Amazon’s Jeff Bezos, according to a report by United Nations investigators, may come as a shock to some. But for most people tracking the rise of Saudi Arabia’s de facto ruler over the past five years, it’s business as usual. From his disastrous proxy war in Yemen to the killing of Washington Post journalist Jamal Khashoggi in the Saudi consulate in Istanbul in 2018, the young crown prince, known as MBS, has demonstrated time and again his hubristic belief that there are no limits […]

Trade disruptions and sluggish investment helped drive global economic growth last year to its lowest level since the Great Recession. Even with the recent cease-fire in the U.S.-China trade war, the World Bank expects only a modest uptick in growth globally in 2020—if trade tensions don’t flare back up and spook investors again. These are among the key conclusions of the Bank’s latest Global Economic Prospects report. Among the reasons for pessimism is that the “phase one” deal signed last week between the U.S. and China will not remove the tariffs on most U.S. imports from China. Meanwhile, continued weakness […]

HARARE, Zimbabwe—Samantha Kureya’s memories of the night she was abducted are not totally clear, but she vividly remembers one phrase that her attackers kept repeating. “You are too young to mock the government,” they said. The young Zimbabwean comedian, whose viral online skits poke fun at the government, was taken from her home in Harare, the capital, on Aug. 21 by three unidentified men wielding machine guns. She said they drove her to a remote location she did not recognize, where they beat her, forced her to strip and made her drink sewage water, before abandoning her. The incident left […]

In this week’s editors’ discussion on Trend Lines, WPR’s Judah Grunstein and Freddy Deknatel talk about the “phase one” trade deal signed by the U.S. and China this week, and whether it lives up to President Donald Trump’s pronouncements. They also discuss what the surprise resignation of Russian Prime Minister Dmitry Medvedev reveals about President Vladimir Putin’s plans after his current term expires in 2024. 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 […]

Last month, The Economist boldly labeled Uzbekistan its “country of the year,” declaring that “no other country travelled so far in 2019.” It is a remarkable achievement for a state that perennially finds itself at the bottom of international rankings on corruption, governance and human rights issues. But while Uzbekistan certainly is changing, the government’s quest for economic stability, not democracy, is driving the process. After taking power in 2016, President Shavkat Mirziyoyev quickly recognized that growing socioeconomic discontent could destabilize his regime. He saw that resentment toward a corrupted status quo could push angry populations into the streets, as […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. With the signing of a “phase one” trade deal Wednesday, the United States and China have finally pressed pause on their protracted trade war. At a White House signing ceremony that was attended by Chinese Vice Premier Liu He, President Donald Trump called the pact a “sea change in international trade.” But what does it actually accomplish? At the center of the agreement are commitments from China to purchase an additional $200 billion in American goods and services over […]

Unless President Donald Trump decides to blow things up, a “phase one” trade deal between the United States and China will finally be signed this week. The agreement has remained somewhat up in the air because its text still hasn’t been released and Chinese officials have been unwilling to confirm key elements that the White House asserts are in it. Assuming that things do go as planned, though, this is far from the end of the story. Trump and his advisers insist there will be a “phase two” deal that addresses the big, structural issues in China’s economic policies, from […]

Britain’s impending departure from the European Union on Jan. 31 is merely, as Winston Churchill might have said, the end of the beginning. British Prime Minister Boris Johnson will herald Brexit as the moment the nation recovers its sovereignty. The truth, however, is far messier. The ultimate terms and costs of the divorce are yet to be determined. The nature of Britain’s future relationship with the continent, whether the United Kingdom will stay united in Brexit’s wake, and what global role Britain will play after regaining its “splendid isolation” all remain to be seen. The U.K. was always an awkward […]

Imagine this scenario: A viral disease emerges and spreads rapidly across borders. It has a nearly 100-percent fatality rate, with symptoms that include high fever, blotchy skin lesions, coughing, diarrhea, vomiting and hemorrhaging. There is no treatment or preventative vaccine for the disease, so it results in widespread loss of life and a staggering economic toll. The international system struggles to come together to stop it from spreading even further. This might sound like any of a number of infectious diseases among humans, including SARS, Ebola and H5N1 influenza, also known as bird flu. But it actually describes African swine […]

Though President Donald Trump appears to have backed away from further military conflict with Iran, the Middle East is still on edge. Amid fears of heightened conflict, what is really driving Iran’s behavior? This escalation did not begin with the killing of Soleimani, but in May 2018, when Trump unilaterally took the United States out of the international agreement curbing Iran’s nuclear program, known as the JCPOA, and reimposed crippling sanctions on Iran’s economy.

Editor’s Note: Every Friday, Andrew Green curates the top news and analysis from and about the African continent. Thousands of protesters took to the streets of Liberia’s capital, Monrovia, this week to demand the government salvage the country’s cratering economy. Police met them with water cannons and tear gas, and dozens of demonstrators were taken to the hospital in the aftermath of the altercation. The Liberian economy has suffered badly since President George Weah, a former soccer star, took office two years ago. Banks are now unable to pay depositors and the salaries of civil servants are regularly delayed. Inflation […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. As tensions rise between the United States and Iran, China is urging both countries to exercise restraint while it carefully avoids words or actions that could be construed as taking sides. Beijing’s measured response to this escalating confrontation is a sign of its delicate diplomatic balancing act in a region where it has considerable economic interests. After Iran launched a missile strike early Wednesday against two military bases in Iraq hosting U.S. troops, a Chinese Foreign Ministry spokesperson called […]