For Washington and Brussels, the IMEC trade corridor linking India, the Gulf and Europe is an effort to mold the resulting partnerships in line with Western interests. However, for India, the UAE and Saudi Arabia, their participation in the project does not reflect a desire to choose sides amid an era of great power competition.
Despite being in the midst of its rainy season, Panama is experiencing one of its driest periods on record. The lack of rainfall means that the Panama Canal—a vital conduit for global maritime trade—is facing severe challenges, with the implications extending beyond Panama’s borders to affect international trade and global supply chains.
Earlier this year, the global economy experienced an important milestone that, though it went largely unnoticed, scholars may look back on as a marker of the beginning of a new era, with economic but also geopolitical significance: For the first four months of 2023, Mexico surpassed China as the top trade partner of the United States.
It may not be a return of the “Pink Tide,” but the region’s left has been showing signs of a revival. Perhaps more than questions of right and left, though, what most characterizes South America today is a sense of instability and democratic fragility. What’s next for the continent?
Former U.S. President Donald Trump upended what was once a relatively staid global economic and trade system. For all of the upheaval he created, though, Trump left office with only one clear-cut accomplishment: an updated NAFTA deal. And even as Trump sowed chaos in America’s trade relationships, most of the world reinforced its commitment to trade liberalization.
With China’s economy slowing rapidly, many analysts around the world worry that a continued contraction in Chinese growth could potentially have an adverse global impact. Without China acting as the global engine of growth, they say, growth around the world could stall. But the story is more complicated than that.
President Joe Biden took office with an ambitious foreign policy agenda summed up by his favorite campaign tagline: “America is back.” Above all, that will mean repairing the damage done to America’s global standing by his predecessor, former President Donald Trump.
Even as regular climate diplomacy has resumed between the U.S. and China, officials and observers of both countries have become markedly more pessimistic about the feasibility of carving out a separate lane for climate progress amid rising tensions. That may imperil our chances of a timely energy transition.
The global spread of Italian food and wine as well as the popularity of Italy as a tourism destination—alongside the depiction of all three in popular culture—have helped establish the country as a “soft superpower.” Now a force largely outside of Rome’s control is threatening all three sectors: the climate crisis.
A group of five will soon be a concert of eleven. At last week’s summit of the BRICS nations, Brazil, Russia, India, China, and South Africa agreed to invite Ethiopia, Argentina, Iran, Egypt, Saudi Arabia, and the United Arab Emirates to officially join the group on Jan. 1, 2024. The expanded BRICS shows its members’ dissatisfaction with the Western-led economic and political order.