Economics & Business Archive

When he took office earlier this month, Colombia’s new president, Ivan Duque, was introduced at his inauguration by the president of Congress, Ernesto Macias, a wily politician from the country’s coffee-rich state of Huila. Before Duque’s inauguration speech floated over the windy ceremony in the capital, Bogota, Macias served up his own view of the president’s inheritance. Macias painted a dark, pessimistic picture of Colombia: An economy going down the drain; gangs running rampant over the countryside; coca plantations through the roof. Was there a culprit? Of course: outgoing President Juan Manuel Santos. The scene evoked the Wild West, where […]

Turkey is enduring its most severe economic crisis since the Justice and Development Party, or AKP, took power after sweeping elections in 2002. With a nearly 40 percent decline in the value of the Turkish lira this year, Turkey’s foreign exchange troubles risk plunging the heavily leveraged Turkish economy, and with it potentially the global economy, into a tailspin. On one hand, it’s a typical post-Cold War financial crisis in an emerging market whose economic prospects have always been volatile, with high risks and high rewards. On the other hand, the lira’s collapse is the product of a constellation of […]

In this week’s Trend Lines podcast, WPR’s managing editor, Frederick Deknatel, and senior editor, Robbie Corey-Boulet, discuss the real story around land expropriation in South Africa, after President Donald Trump’s promotion of a white-nationalist conspiracy theory about white South African farmers. They also look at overshadowed headline news from the week, including the international implications of Trump’s rollback of the Obama-era Clean Power Plan, which had set national carbon pollution limits on coal-fired power plants. If you like what you hear on Trend Lines and what you’ve read on WPR, you can sign up for our free newsletter to get […]

Editor’s Note: Every Wednesday, WPR’s newsletter and engagement editor, Benjamin Wilhelm, curates the top news and analysis from China written by the experts who follow it. A new chapter in the trade war between the United States and China begins today as officials from both sides meet in Washington, though analysts have low expectations for the talks. In light of President Donald Trump’s relentless tariff threats and reported grumblings in China over how Beijing has responded, where does the situation stand 48 days into the trade war? Press reports indicate that Chinese leaders have reframed their outlook on Trump’s tariffs, […]

Investigating the Russian government has historically been a dangerous business, and yet the circumstances surrounding the deaths of journalists Alexander Rastorguyev, Kirill Radchenk and Orkhan Dzhemal in the Central African Republic late last month still managed to raise eyebrows. Part of the reason the tragedy has continued to attract international attention weeks later is because it highlights a story that had flown under the radar for months: the unexpected presence of Russian mercenaries in one of the most obscure parts of the world. Russia’s presence in the Central African Republic is a relatively new phenomenon. While Soviet activity there was […]

The Trump administration on Tuesday unveiled its proposal to relax environmental regulations on coal-burning power plants across the United States. The Environmental Protection Agency’s Affordable Clean Energy rule would roll back the Obama-era Clean Power Plan, which had placed stricter national pollution standards on power plants in an effort to reduce carbon emissions and push American utility companies away from coal and toward natural gas and renewable energy sources, such as wind and solar. It is the Trump administration’s biggest move yet to boost the American coal industry. But according to the EPA’s own analysis, the new rule could lead […]

Editor’s note: Guest columnist Neil Bhatiya is filling in for Judah Grunstein, who will return Sept. 5. Relations between the United States and Turkey continue to deteriorate over the detention of U.S. citizens by the Turkish government, with all the focus on an American pastor, Andrew Brunson, who was arrested in the purge that followed the failed 2016 coup attempt against President Recep Tayyip Erdogan. Both sides are digging in, with President Donald Trump declaring in an interview on Monday that “there will be no concessions” to Turkey on securing Brunson’s release, despite the economic risks of Trump’s sudden pressure […]

Approximately 29,000 public school teachers in New Zealand went on a full-day strike on Aug. 15, demanding higher wages and improved working conditions. An estimated 400,000 schoolchildren were affected by the strike, which follows a similarly disruptive strike by nurses last month. These large-scale labor actions are a serious challenge for Prime Minister Jacinda Ardern’s center-left coalition government, which was elected last year with union support. In an email interview, Grant Duncan, associate professor of politics at Massey University in New Zealand, discusses the political significance of the strikes. WPR: What are the main issues driving the recent teachers’ and […]

Thousands of women and girls from Nepal are trafficked into India each year, and many are forced into sex work. The government is well aware of the problem of human trafficking, but interventions have been too minor to be effective. The most obvious solution may be the hardest: creating opportunities at home so people don’t want to go abroad. BELAHIYA, Nepal–Chanda Basnet, an aid worker with the Nepalese NGO Maiti Nepal, stands beside a blue tin shack that functions as her organization’s field office in this border town. A few dozen meters behind her, an enormous stone gate marks the […]

A day before Nicolas Maduro accused Juan Manuel Santos and the “Bogota oligarchy” of orchestrating an audacious attempt on his life with explosive-equipped drones earlier this month, Colombia’s outgoing president reminded his Venezuelan counterpart of the reality that divides their two nations. “Eight years ago we agreed with Chavez and Maduro that history would judge which economic system was better,” Santos wrote on Twitter. Inflation in Colombia, he noted, was 3.12 percent. In Venezuela, it was a stunning 1 million percent. “The verdict is clear.” Reining in inflation is one of a number of economic achievements from Santos’ eight years […]

In just four decades, China has become a major global economic power. In recent years, it has surpassed Germany as the world’s largest exporter of merchandise. It is the world’s second-largest source of foreign investment, and third-largest recipient. Using an exchange rate that takes into account the lower cost of living in China, it has surpassed the United States to become the world’s largest economy, though still a much poorer one. And under its “Made in China 2025” industrial plan, the government wants to become an innovation hub and move up the manufacturing value chain to become largely self-sufficient in […]

On July 26, President Rodrigo Duterte signed a law paving the way for the long-awaited creation of a new self-governing region encompassing Muslim-majority areas on the Philippines’ conflict-wracked southern island of Mindanao. Known as the Bangsamoro Organic Law, it had been fiercely debated by lawmakers and rebel leaders amid political wrangling and ongoing violence. It aims to end a bloody separatist conflict that began in the early 1970s and has claimed thousands of civilian lives. The bill’s passage is the culmination of four years of talks between the government and the 30,000-strong Moro Islamic Liberation Front, which has been fighting […]

Venezuela’s flailing oil industry has helped prop up global energy prices even as Saudi Arabia and Russia open the spigots and global oil demand remains robust. Though oil prices have recovered from their lows during the price collapse in 2015, Venezuelan output has since seen an incredible decline of 1 million barrels per day. The drop in oil production is further squeezing the Venezuelan economy, which faces critical shortages of goods and ballooning inflation that is expected to reach an astounding 1 million percent this year. But could Venezuela’s oil production decline even more steeply? Three evolving developments will largely […]

In this week’s Trend Lines podcast, WPR’s editor-in-chief, Judah Grunstein, and managing editor, Frederick Deknatel, discuss the current tensions in U.S.-Turkey ties. For the Report, Amr Al-Azm and Katie A. Paul talk with WPR’s senior editor, Robbie Corey-Boulet, about how looters and traffickers of Middle Eastern antiquities are using Facebook to improve and expand their illicit trade in the digital age. If you like what you hear on Trend Lines and what you’ve read on WPR, you can sign up for our free newsletter to get our uncompromising analysis delivered straight to your inbox. The newsletter offers a free preview […]

AMSTERDAM—Just as Turkish President Recep Tayyip Erdogan fulminates against the United States again, blaming Washington for his country’s worsening economic troubles, a small controversy has erupted in the Netherlands over Turkish influence in the country. It came to light earlier this week that Turkey is planning to fund special Dutch schools to teach residents of Turkish origin about their heritage. The idea has sparked alarm among some Dutch politicians and their followers on both the left and the right, who worry about what, exactly, Erdogan’s government intends to teach in these schools, which would operate on weekends across the Netherlands. […]

Editor’s Note: Every Wednesday, WPR’s newsletter and engagement editor, Benjamin Wilhelm, curates the top news and analysis from China written by the experts who follow it. The repression of China’s Uighur ethnic minority has been Beijing’s worst-kept secret for years. There have been plenty of reports of crackdowns in the Xinjiang region of northwestern China, with this 2012 briefing from WPR just one example. More recently, details of an emerging surveillance state in Xinjiang have been filling Western media outlets. But despite the available information, China’s treatment of Uighur Muslims has largely remained off the international agenda. It remains to […]

After Zimbabwe’s elections late last month, the first without Robert Mugabe on the ballot, it seems that the more things change, the more they stay the same. Despite pre-poll speculation that the vote might usher in an era of change and renewal after 38 years under the ruling ZANU-PF party—and two decades of steep political and economic decline—a new dawn stubbornly failed to arrive. Zimbabwe has a largely unchanged political landscape, still dominated by ZANU-PF. Emmerson Mnangagwa retained the presidency with 50.8 percent of the vote over Nelson Chamisa of the opposition MDC Alliance, who got 44.3 percent. ZANU-PF has […]