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Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. Earlier this month, the Mexican government submitted a budget to cut spending in 2016, including reduced investment in the state oil company Pemex, given the drop in global oil prices. In an email interview, Amb. Antonio Garza, former U.S. ambassador to Mexico and currently counsel in the Mexico City office of White & Case LLP, discussed Mexico’s economy and the impact of the oil shock. WPR: How have declining oil revenues affected Mexico’s budget and spending power? […]

YANGON, Myanmar—Beginning in the early 2000s, China’s rise buoyed commodities markets and improved the fortunes of many resource-rich countries. Myanmar was no exception: Bilateral trade has expanded considerably, with China now accounting for approximately 40 percent of Myanmar’s imports and 15 percent of its exports. Although estimates vary significantly, data provided by Myanmar authorities to the World Trade Organization indicate that China, including Hong Kong, made up nearly 60 percent of approved investments in its southwestern neighbor between 2005 and 2012. Cumulative Chinese foreign direct investment in Myanmar has since exceeded $14 billion, with much of that bound for the […]

In late July, Turkish President Recep Tayyip Erdogan was in Beijing, his first state visit to China as president. Weeks earlier, back in Istanbul, Turkish nationalists enraged at the treatment of Uighurs in China’s Xinjiang province had attacked Korean tourists, thinking they were Chinese, and stormed the Thai Consulate after Thailand deported a group of Uighurs who had fled China. With Erdogan pushing a more nationalist agenda to overcome a challenge from the right after his party’s electoral setbacks in June, most observers focused on whether China’s ethnic tensions and Turkish criticism of Beijing’s policies toward the Uighur minority could […]