The European debt crisis has reached its chiche moment—or what should be its chiche moment. That’s chiche, the French for “I dare you”, “I’m calling your bluff”, or even “make my day”—something often used in situations that somehow seem too formidable or fearsome to simply give in to without an audacious (albeit …
Foreign Investment
Mining for Silver Bullets: Why Afghan Minerals Won’t Save the Country
The future of Afghanistan can be seen in a lump of lustrous black rock showcased on Wahidullah Shahrani’s bookshelf. Or so he would have me believe. The energetic minister of mines has spent the past half hour elucidating the potentials of the rich iron deposit in the mountainous province of Bamiyan from which that rock comes. He …
Russia’s Putin Visits Beijing: Friendly Neighbors or Strategic Competitors?
Regular readers of stories from China’s state-run Xinhua News Agency know that relations between China and nearly every country whose leader visits Beijing merit a positive appraisal. “Malawi treasures its friendship with China and is grateful for China’s selfless support for Malawi’s national development,” gushed one …
China Mourns Steve Jobs. But Can It Produce Its Own Tech Visionary?
Less than a decade ago, I was going through airport security in southwestern China. The airport guy took a look at my laptop and began to chuckle. “Pingguo,” he said, pointing to the bitten fruit on the cover, “Apple.” What was my computer doing emblazoned with a healthy snack? What would these crazy foreigners think of …
In a Rare Reversal, Burma’s Government Listens to Its People and Suspends a Dam
The Irrawaddy River is the lifeblood of Burma. Its waters spring from the Myitsone confluence of two rivers in the country’s northern Kachin state, a largely Christian ethnic minority territory whose rebel militia has over the decades battled the Burmese military. A few years ago when Burma’s ruling junta agreed to a $3.6 …
Burma: Could a Small, Peaceful Protest Signal Real Reform?
Four years ago, as columns of burgundy-robed monks marched peacefully through Burma’s commercial capital Rangoon, security forces opened fire, slaughtering at least 31 people, arresting thousands more and extinguishing hopes that the ruling junta was receptive to political reform. On September 26, dozens of Burmese again gathered …
At the World Economic Forum, A Lot of Love for China—Except from Some Chinese
The streets of the northeastern Chinese city of Dalian, which has been hosting the World Economic Forum’s (WEF) Annual Meeting of the New Champions, are lined with cheery red banners that read in English: “Cooperation, Harmony and Win For All.” Yet even as business leaders flocked to sessions on topics like “new …
Looking to Invest? How About China’s New Frontier?
Looking for a place to invest in China? How about Xinjiang, or the “New Frontier,” as the northwestern autonomous region is known in Mandarin? Home to the Uighur people—a Turkic group that briefly helmed two self-proclaimed republics called East Turkestan in the 1930s and ‘40s—Xinjiang seethes with resentment toward the …
China’s Security Chief Goes on Tour—How Is Asia Reacting?
Over the past week, as I’ve traveled across Asia, I’ve discovered an unlikely partner in my continental peregrinations: China’s security chief Zhou Yongkang. The senior Chinese envoy’s travels have taken him to Nepal, Laos, Cambodia and Tajikistan. The final stop is Mongolia, where Zhou is expected to head on Tuesday.
In …
How European Leaders Are in the Same Boat as Obama When it Comes to Debt
A few of you, or at least your 401(k)s, may have noticed that financial markets plummeted again on Thursday. European markets closed at or near two-year lows across the board and the Dow closed down more than 400 points.
Asian markets Friday morning opened in the tank: the Nikkei index tumbling more than 2.5%, Sydney down 3.5%, …
After Downgrade, Chinese Press Blasts U.S. Borrowing
Official Chinese media have lashed out at American debt following rating agency Standard & Poor’s decision to downgrade the U.S. credit rating. “The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone,” Xinhua, the …
Five Lessons the World Will Take From U.S. Economic Policy Gridlock
Washington may have cut an unlovable deal to avert a default on its debts, but U.S. and global stock markets are tanking anyway. That’s because the measures agreed Tuesday can’t reverse the slide of the U.S. economy — its fundamentals, to use a phrase beloved by politicians, are less than sound. So, what the world sees in America’s …
Six Things to Watch from Hillary Clinton’s India Tour
President Obama grabbed hearts and headlines with his state visit to India last fall, and there was a lot of talk about bringing the two countries closer together. It’s “a defining partnership of the 21st century” between “natural allies” who have committed themselves to a “strategic dialogue.” What does it all mean? …