Column Archive

Russia’s trade with China continues to grow despite the precipitous collapse in the value of the Russian ruble and the unprecedented Western economic sanctions imposed on Russia last year following Moscow’s annexation of the Crimean Peninsula. Indeed, China’s economic importance to Moscow has increased as Russia’s commercial relations with Europe, the United States and Japan stagnate. Yet the Russia-China economic relationship is imbalanced, with Russia sending mostly natural resources to China and importing mostly Chinese consumer goods. As a result, the two countries will find it difficult to deepen their economic cooperation much further unless it expands to encompass high-value […]

When Greece first came close to a sovereign default in 2010, the eurozone and even the entire European Union seemed to be at risk of fragmentation. Rather than break up, the currency bloc forged new mechanisms to handle the crisis—and the balance of power on fiscal policy within the EU tilted decisively toward Germany as its economic guarantor. This pattern could now be repeated with regard to European foreign policy. Officials in Brussels insist that the victory of the hard-left Syriza party in last week’s Greek elections does not threaten the eurozone. But they worry that it could contribute to […]