Economy
Must-Reads from Around the World: May 2, 2012
On the Defensive – China’s semi-official Global Times breaks the state silence over blind activist Chen Guangcheng’s escape from house arrest with its op-ed “US embassy in a quandary over Chen.” The most apt take: “The US embassy …
Must-Reads from Around the World: April 27, 2012
Judicial Over-slight – Pakistan’s Dawn newspaper analyzes Thursday’s conviction of Prime Minister Yousuf Raza Gilani for contempt of court and the custodial sentence lasting “until the rising of the court” – which was 37 …
7.5%
Entering French Presidential Race, Sarkozy Gets Lift From Unexpected Economic Growth
French President Nicolas Sarkozy made his long-anticipated re-election bid announcement Wednesday night and has some good news to jump-start his campaign. On Wednesday morning, figures for the fourth quarter of 2011 showed that …
“The People Are Suffocating”: West Bank Economy Struggles Under Pressure From U.S. Congress
“Does this look like the city of Ramallah?” asks Jawad Tamimi, in the doorway of his store on the main street of downtown Ramallah. The scene is very nearly normal: Sidewalks crowded with pedestrians. The aroma of roasting …
Dispatch from Sendai: Boom and Bust After Japan’s Tsunami
The first time I drove into Sendai, Japan, I thought I had arrived in a small town. It was March 13, two days after last year’s earthquake and tsunami killed up to 20,000 people and destroyed hundreds of miles of coastline in …
As the Peace Process Goes Sideways, Gaza’s Economy Remains Stifled
Israel’s grip on the Palestinian economy amounts to business as usual. Palestinians carry shekels in their pockets, and most of what they buy with the Israeli currency comes from Israel, which is said to account for at least 80% of foreign trade with the occupied territories. That is a dependence that goes unremarked until something …
French Austerity Measures Also Cut Touted Sarkozy Reforms
As polls have persistently shown both leading candidates in France’s Socialist Party presidential primary beating conservative incumbent Nicolas Sarkozy in mock elections over the months, Elysée advisers have confidently predicted voters will again swing behind their champion en masse once he starts campaigning on his bilan—or, …
Dr. Doom Warns Wall Street and Washington: Heed Karl Marx’s Warning!
Karl Marx was wrong about socialism, but he wasn’t always wrong about capitalism. That’s the warning from Nouriel Roubini, the NYU economics professor known on Wall Street as “Dr. Doom” — but hailed as a prophet nonetheless — for having warned that an economy expanding on giddy optimism, asset bubbles and Ponzi scheme paper was …
The Merkel-Sarkozy Summit: A Minimalist Affair
It says a lot about the dramatic crisis facing the euro zone when the leaders of its two biggest economies go into a highly scrutinized summit amid promises, assurances, and even a form of hype stressing that nothing much will come from it. But that’s precisely the buzz surrounding this afternoon’s Paris meeting between German …
U.S. Global Influence Tanks with the Economy
You say you want a revolution? Not now, mate, can’t you see we’re busy?
“It’s the economy, stupid,” was the focal message around which Bill Clinton organized his against-the-odds 1992 campaign victory over President George H.W. Bush. The incumbent had presided over the soft landing of the collapsing Soviet empire and driven Saddam …
Envious Of U.S. Debt Ceiling Conflict, France Considers One Of Its Own
Were Paul Krugman to be inhabited by the not-so-kindred soul of Ronald Reagan, the Nobel prize-winning economist and New York Times columnist might be looking towards Europe airing the disapproving lament, “Well, there you go again”. And just who would the culpable “you” up to something iffy again be? French President Nicolas …