Economics & Business Archive

Since President Donald Trump withdrew the United States from the international deal designed to prevent Iran from getting a nuclear bomb, the time it might take Tehran to build such a weapon if it so chooses has dropped from more than a year to just a few months. The world now has much less time to react if that happens—and no good options in response. After Washington, to the dismay of its allies, reimposed economic sanctions and demanded that Iran do more to change its behavior, there have been no new negotiations and no clarity on exactly what the Trump […]

U.S. President Donald Trump’s first official visit to India last week was meant to highlight the strength of the U.S.-India partnership and the high priority that Trump and Indian Prime Minister Narendra Modi place on the relationship. Trump ingratiated himself with his hosts by refusing to publicly criticize the controversial citizenship law that has unleashed mass protests across India. As deadly communal riots raged in Delhi, Trump and Modi stayed on script, enthusiastically declaring that the state of the U.S.-India relationship is strong. Lending credence to that message, the two leaders signed important deals on defense, energy and counterterrorism during […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. In a setback for Beijing’s efforts to raise its profile at the United Nations and other multilateral organizations, a Chinese candidate failed to win a leadership contest for the U.N.’s intellectual property agency on Wednesday. Wang Binyang’s bid to head the World Intellectual Property Organization, or WIPO, had been opposed by the United States due to concerns about China’s respect for intellectual property rights. Fifty-five out of 83 countries on WIPO’s steering committee voted in favor of Daren Tang, […]

Toward the end of his second term in office, former U.S. President Barack Obama said in an interview with The Atlantic that “we have more to fear from a weakened, threatened China than a successful, rising China.” It would be hyperbole to claim that the impact of the COVID-19 outbreak will create the weakened, threatened China that Obama warned about. But it could give us a glimpse. The draconian measures China took to contain the spread of the novel coronavirus that emerged from Wuhan, the capital of central Hubei province, seem to have prevented a worst-case scenario for now. But […]

The status of developing countries under international trade rules has long been a divisive issue. The World Trade Organization does not explicitly define what “developing” means, leaving members to determine for themselves where they fall. Even countries that have become relatively rich or are major export powers have been loath to give up the preferential access to foreign markets—or “special and differential treatment”—that developing country status entails. After decades of negotiation, the practical impact of special and differential treatment is less than it once was. But it is nevertheless a major irritant for developed country members of the WTO. And […]