Economics & Business Archive

NAIROBI, Kenya — The African Union has released a blueprint designed to guide the continent in its relations with “emerging powers” like China, Brazil and India. A task force formed by the union says Africa must have a strategy for engaging these countries to avoid a “second colonization” and to make sure Africa benefits as much as possible from its relations with them. The strategic plan, completed Sept. 13 at a meeting of the AU “Task Force on Africa’s Strategic Partnership with the Emerging Powers” in Addis Ababa, Ethiopia, assesses how cooperation with emerging powers can help Africa use her […]

Europe’s new concerns about reliance on Russia for much of its energy security are nothing compared with the worries in many other capitals around the world about the problem posed by China’s growing demand for oil and gas, say analysts. Those worries are little mollified by repeated assurances coming out of Beijing that China’s insatiable appetite for energy is not a threat to the rest of the world. Beijing’s assurances don’t sound convincing, many analysts say. Each year since the early 1990s, China has been consuming more and more energy to fuel its fast-growing economy. Last year, the Chinese accounted […]

Last February wasn’t a good month for Terry Semel. Not only was the Yahoo! Chairman and CEO in the middle of an ambitious overseas expansion project, but his web search company had been called before Congress to testify about its involvement in a high-profile international incident. Bad news for any businessman, but for U.S. foreign policy it was a sudden and unsettling introduction to the reach of the information age. The trouble for Yahoo started with the jailing of Shi Tao, a Chinese journalist who had been convicted of “illegally providing state secrets to foreign entities” after an email he […]

KARACHI, Pakistan – The status of Nawab Akbar Khan Bugti, the octogenarian chieftain of a tribe in the restive southwestern province of Balochistan, almost reached the mythical this summer when a late-August operation by the Pakistani military resulted in his death in a cave in the mountains of Dera Bugti. Government officials moved swiftly to bury him quietly and suppress any news of the follies committed during the military operation, which occurred amid nationwide protests and deadly violence in Balochistan. Ten people had already died in bomb blasts, attacks and clashes with police during August, following a year of pitched […]

Russian President Vladimir Putin issued a statement Oct. 1 declaring that the Georgian government’s arrest of seven Russian officers was needlessly provocative, and suggesting a U.S. hand in the incident. “There seem to be some powers which specialize in creating a new crisis every day, thinking it will distract attention from the old problems,” Putin said. “In the short term it might have some effect, but it absolutely will not help in resolving old and very serious crises around the world.” Putin compared the Georgian government’s actions to the paranoia of the U.S.S.R. under Stalin and his secret police chief […]

ACCRA, Ghana — On the job at a Internet cafe near the city center, cousins Aaron Animley and Rashid Teye Appeynarh inflict their musical tastes on the paying customers. Their fondness for hip-hop, especially selections featuring four-letter words, unsurprisingly conforms to the passion of their peers across the Atlantic. The artists in permanent heavy rotation by the self-styled DJs include the late Tupac Shakur and hip-hop impresario Jay-Z. “I like Jay-Z from the scratch to the up. A boy on the street grow up to be a superstar, millionaire,” Appeynarh, 23, said. “He encourage me whenever I see him. The […]

HONG KONG — The arrest of the most high-profile public figure in China in a decade may be a shocking example of endemic corruption in the world’s biggest out-of-control economy, but the question on the lips of some financial investigators in the West is: Will the trail of Chen Liangyu’s ill-gotten loot lead to the United States? The shadow economy in China, a combination of embezzlement, bribery, tax avoidance and underground banking of both legal and illegal money, is huge, and growing. Much of this money is laundered abroad, mostly via Hong Kong, say investigators, and there is growing evidence […]

BAMAKO, Mali — Lambert Coulibaly, 40, seems an unlikely proponent of the global marketplace. Employed as a maintenance worker by a hotel in the River Quarter of Mali’s capital, he spends not a little of his day sitting around and smoking. Yet Coulibaly commutes to his job each day on a Chinese-made Yamaha motorcycle. As he travels around Bamako, he is joined by tens of thousands of Malians on motorcycles and mopeds, the majority of which are also Chinese. “The Chinese motorcycles are cheaper. Plus the Japanese are more expensive,” Coulibaly said. He said his Chinese-made Yamaha cost about $620. […]

With respect to the U.S. Air Force’s program to replace its aging aerial refueling tankers, it may be time to expect the unexpected: that this big acquisition program may proceed hereafter without a major hitch. Sheer necessity may make it so, according to a defense analyst who has spoken with senior Air Force officials about the program. That driving necessity: “They do not have the money to keep this competition going” indefinitely, said Loren Thompson of the Lexington Institute, an Arlington, Va.-based think tank. The Air Force had been very close to wrapping up a tanker replacement deal with The […]

ANKARA, Turkey — Not since the disintegration of the Ottoman Empire — the seat of the 400-year old Turkish Muslim caliphate — have Europeans been so preoccupied with Turkey. As poor Muslim immigrants from the Middle East and Africa flood the gates of Europe in search of work, the prospect of Turkey’s accession into the EU has provoked the EU’s most heated existential crisis to date. Turkey, the gateway between Europe and the Middle East, began its Europeanizing mission well over half a century ago when it first applied to join what was then called the European Economic Community. Until […]