A pedestrian walks near an electric market board in Tokyo, Sept. 16, 2008 (AP photo by Katsumi Kasahara).

Editor’s note: The following article is one of 30 that we’ve selected from our archives to celebrate World Politics Review’s 15th anniversary. You can find the full collection here. It’s been almost five years now since the global financial and economic crisis formally began with Lehman Brothers’ filing for Chapter 11 bankruptcy on Sept. 15, 2008. In today’s fast-paced, high-tech, hyperconnected world, five years is an eternity. In autumn of that year, the iPhone was barely one year old and only in its second iteration. No one had ever shared a photo of their dessert on Instagram because the service was […]

The Summit on Financial Markets and the World Economy, November 2008, Washington, D.C. (White House photo by Joyce N. Boghosian).

One notable feature of the global economy over the half-decade since the collapse of Lehman Brothers has been the fluctuating fortunes of international economic cooperation in general and of the G-20 in particular. The G-20’s public reputation has taken a roller-coaster ride from hero to zero. The story of this rise and fall is also the story of the changing balance of (economic) power in the post-crisis global economy, and of the implications that this shift has had for how the world economy works—and how it doesn’t. This story began when the onset of the financial crisis prompted the elevation […]

Russia has been sending some confusing signals on Iran in recent weeks. Rumors began to circulate that Russian President Vladimir Putin would be heading to Tehran to meet with newly inaugurated President Hasan Rouhani—with some even predicting that Putin would “drop in” on Iran this week after completing his visit to Azerbaijan to confer with Azeri President Ilham Aliyev. Stories were also released that Russia was reconsidering its unilaterally imposed boycott on selling advanced S-300 air defense systems to Tehran, or at least replacing them with another variant, the Antei-2500 system, as a way to get Iran to drop its […]

Having discussed Russia’s policies toward Iran in my last column, I thought it would be instructive to analyze China’s policies toward the Islamic Republic to highlight the similarities and differences in their approaches, which are often overlooked. Beijing shares many of Moscow’s concerns, both regarding Iran’s nuclear program and the West’s reaction to it. But Chinese policymakers are often more timid than their Russian counterparts in defying Western preferences, even as they are at times bolder in seeking advantage from the crisis. During the past decade, China has joined Russia in opposing Iran’s efforts to acquire sensitive nuclear technologies but […]

China’s rapid economic growth over the past 30 years has transformed the world’s most populous country almost beyond recognition and reshaped the international economic and geopolitical landscape, forcing huge shifts in global international trade and investment flows. This growth is now slowing, meaning many of the key dynamics that have accompanied China’s rise are themselves evolving. While many observers are nervous about the Chinese slowdown and its implications, a more balanced, less inflationary and less resource-intensive model of economic expansion may bring more sustainability to China’s development story and allow Beijing to fundamentally rebalance its relations with international partners. The […]

The official Chinese news agency Xinhua reported earlier this month that China was considering relaxing its one-child policy for some families. In an email interview, Therese Hesketh, a professor at the Center for International Health and Development at University College London, explained the one-child policy’s impact and alternative policy options. WPR: What prompted the latest move to consider relaxing the one-child policy? Therese Hesketh: When the one-child policy was introduced in 1979, the government claimed it would last for one generation only. It is important to note that the one-child rule applies to less than half the population: Only urban […]