Economics & Business Archive

Last week, China and the African Union (AU) agreed on a deal to develop transportation infrastructure across Africa. In an email interview, Ross Anthony, interim director of the Centre for Chinese Studies in Cape Town, discussed Chinese investment in Africa. WPR: How ambitious is the recent memorandum of understanding between China and the African Union on infrastructure development, and how does it compare to previous Chinese investments on the continent? Ross Anthony: The announcements of infrastructure projects involving China and Africa and the actual financing and execution of the projects themselves are very different things. While the deal sounds incredibly […]

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 […]

Just over a week ago, Greece elected an anti-austerity party, Syriza, the first in Europe to take office since the European debt crisis began in 2010. Syriza’s victory sent shockwaves across Europe, despite the fact that it was widely predicted ahead of the Jan. 25 election. Led by Alexis Tsipras, Syriza won 36 percent of the vote, 8 percent more than the ruling center-right New Democracy party, and 149 seats in parliament, just two seats shy of a majority. The biggest element of Syriza’s campaign platform was the promise to renegotiate the terms of Greece’s $268 billion bailout from the […]

On the surface, today’s Germany appears a model of harmony and consensus. Led by Chancellor Angela Merkel, who is beloved by the citizenry, Germany boasts the eurozone’s strongest economy, which has flourished even during the financial crisis and Europe-wide recession. Merkel, 60, heads up the country’s most popular party, the Christian Democratic Union (CDU), and has no serious challenger in sight. The current “grand coalition,” elected in 2013, is an affable partnership with the center-left Social Democrats; the trade unions and industry get along well, too. Many experts and journalists, such as George Packer in a recent profile in The […]

Last month, Japan and the United Kingdom agreed to jointly research new air-to-air missile technology. In an email interview, Yuzo Murayama, professor at the Graduate School of Business at Doshisha University, discussed Japan’s entry into the global defense market. WPR: What defense technologies and capabilities does Japan have to offer on the global defense market? Yuzo Murayama: Japan does not have many globally competitive defense-specific technologies or products. This is because Japanese weapons have not been tested in real battlefield environments due to the past ban on arms exports. There are exceptions, such as submarines that contain unique technologies. However, […]