In his 1996 classic, “The Clash of Civilizations,” Samuel Huntington characterized Mexico as a “torn country” — a condition produced by the Westernizing instincts of its elites pulling against the weight of its cultural heritage. Today, however, Mexico is not torn by internal discord, its drug violence notwithstanding. Rather, it is trapped — caught between dynamic global trends washing over Latin America on one hand, and the dogged political realities of North America on the other. In heralding the end of trade barriers between Mexico, the United States and Canada, the North American Free Trade Agreement (NAFTA) cast modern Mexico’s [...]
Reports last week suggested that China is considering investing in a large, 1,000-megawatt reactor in Pakistan, in addition to the two small reactors recently agreed upon by the two countries. If validated, the reports indicate that Chinese policymakers have given the go-ahead to a nuclear development plan prioritizing early export of indigenous large reactors, while simultaneously underlining Beijing’s willingness and ability to pursue a policy of nuclear exceptionalism in the subcontinent. The backstory on the reported deal dates back to 2004, when the smaller State Nuclear Power Technology Corporation (SNPTC) won a momentous decision from Chinese planners to proceed with [...]
On Sep. 6, the European Investment Bank, the European Bank for Reconstruction and Development, and the International Financial Corporation (a branch of the World Bank Group) signed a mandate letter with the consortium behind the Nabucco natural gas pipeline, marking the start of an appraisal process that will eventually secure a €4 billion financing package for the project. The three international financial institutions committed €2 billion, €1.2 billion and €800 million, respectively. Along with the more modest €200 million grant provided by the European Commission last March, the contributions will certainly boost confidence in the project among private investors, who [...]
