In-Depth Archive

The past year has seen dramatic declines in the prices of global commodities. Between June 2014 and the beginning of this year, crude oil prices fell by 50 percent to around $50 a barrel. Similarly, mineral prices have seen a drastic fall since the peak of the “commodity supercycle” in early 2011. Between then and April of this year, iron ore prices fell by 70 percent, coal prices by 54 percent and copper prices by 40 percent. Many countries dependent on revenues from these commodities have been hit hard. Venezuela is unable to import food and medicine to satisfy the […]

Ground zero in Ireland’s recent economic, political and social history can be traced to the night of Sept. 29, 2008. “The night of the bank guarantee,” as the Irish public came to call it, dramatically changed the country’s course. Before then, Ireland had enjoyed more than a decade of rapid economic growth, emerging from years of poverty to become one of Europe’s most dynamic economies, the so-called “Celtic Tiger.” Between 1990 and 2005, the employed population of Ireland increased from 1.1 million to 1.9 million. Gross domestic product soared, and gross national income per capita doubled between 1990 and 2000 […]

The Budget Control Act of 2011 (BCA), passed by the U.S. Congress and signed by President Barack Obama to resolve that year’s debt-ceiling crisis, instituted spending caps on the federal discretionary budget, including on defense, a traditional Republican priority. As an incentive for compromise, the legislation also established a lower set of caps that would come into force should Congress fail to reach an agreement on further spending reductions. Failure to respect these limits in any year’s budget appropriations would trigger automatic across-the-board cuts, known as sequestration, against which the initial BCA caps would pale in comparison. Defense sequestration, in […]

Japan’s postwar constitution, promulgated in 1947 under U.S. occupation, has shaped the country’s international role ever since. But now that may be changing. Since assuming office for the second time in December 2012, Japanese Prime Minister Shinzo Abe has implemented a rapid succession of security policy reforms. Abe’s efforts to refocus Japan’s attention on its defense needs and adopt policies that have long been seen as taboo have drawn global attention. Japan’s immediate neighbors have decried these reforms, citing their still sensitive World War II-era memories of a very different Japanese military. South Korea has been especially critical of Abe’s […]

Migration from Africa to Europe is a hotly debated topic. Headlines about migrants crossing the Sahara Desert or the Mediterranean Sea appear regularly in major international newspapers, most infamously in April, when at least 1,000 migrants died on two capsized ships between Libya and Italy. In Brussels, European leaders meet frequently to discuss policy responses to irregular border crossings and migrant deaths at sea, time and again advancing cooperation with North African states as a potentially successful strategy. But reporting has mainly focused on the European perspective, while North African states’ policy approaches and civil societies’ attitudes toward irregular migrants […]