Economics & Business Archive

Last week, Japan marked the eighth anniversary of the catastrophic earthquake and tsunami that hit the country in 2011, leaving more than 18,000 people dead or unaccounted for and triggering the Fukushima nuclear disaster, one of the worst nuclear accidents in modern history. A moment of silence was observed across the country at 2:46 p.m. on March 11, the time the earthquake struck. Sports teams interrupted their practice to pray for the souls of those who perished. “We must never let the valuable lessons that we have learned from the enormous damage caused by the disaster to fade away,” Prime […]

Elizabeth Warren, one of the 13 candidates in an already crowded field of Democrats running for U.S. president in 2020, wants to break up tech giants like Google, Amazon, Facebook, Apple and Twitter by legally designating them as “platform utilities,” she said recently, in order to “keep that marketplace competitive and not let a giant who has an incredible competitive advantage snuff that out.” Amy Klobuchar, another senator seeking the Democratic nomination, says flatly that she doesn’t trust tech companies. She doesn’t want to break them up, but instead has proposed new regulations in the form of antitrust laws, new […]

American farmers have arguably suffered the greatest collateral damage in President Donald Trump’s ongoing trade war with China, and things could get even worse. A landmark ruling last month by the World Trade Organization—one of Trump’s favorite targets—should have been good news for American farmers, since it could provide a bit of relief for them from the trade war. But even that small compensation is now likely to be delayed or lost—again because of Trump. Even if Trump’s trade war with China ends soon, American farmers are going to struggle to regain the markets they once had there. Making matters […]

One thing the Cold War taught the United States was how important it is, whenever possible, to address security threats without using force. American leaders knew that almost any military action risked confrontation with the Soviet Union and potential escalation to nuclear war. So armed conflicts had to be kept limited, and the two superpowers instead sought to use nonmilitary means to deal with adversaries. The United States learned during the Cold War to rely on economic and political power, reserving military action for deterrence and for addressing serious threats that could not be handled any other way. American leaders […]

In recent years, the issue of Chinese investment has become divisive enough to help shape the outcomes of elections in Malaysia, the Maldives and Sri Lanka, mostly through money tied to Beijing’s huge Belt and Road Initiative. Indonesia, which is preparing for general elections next month, has welcomed billions in Chinese money to fund critical infrastructure needs, and there are signs that Asia’s largest economy will play a major role in the vote there too. Opposition candidate Prabowo Subianto has already called for reassessing Indonesia’s trade with China, declaring that President Joko Widodo, whose administration has prioritized infrastructure development, is […]

Editor’s Note: Every Friday, WPR Senior Editor Robbie Corey-Boulet curates the top news and analysis from and about the African continent. French President Emmanuel Macron’s latest Africa trip took him to a region where France doesn’t wield much influence. But the themes he stressed over four days in Djibouti, Ethiopia and Kenya this week were familiar, underscoring the priorities of a government that, while unhappy with certain aspects of its role in Africa, has no plans to fundamentally alter it. Macron’s first stop was Djibouti, a former French colony that is home to a French naval base as well as […]

Great-power competition is back. But for all the focus on countries like the United States and China building up their militaries, consolidating resources and leveraging industrial productivity, science and technology to boost their influence, another area of competition is emerging: artificial intelligence. Is China already outpacing the United States there? Artificial intelligence carries enormous promise, both economically and militarily. For already developed economies, including America’s, artificial intelligence could lead to the likes of automated supply chains and increased worker productivity through automating routine business tasks. Similar impacts are predicted for the military—with new levels of intelligence and automation in everything […]

In any other country, the news that peaceful demonstrations had forced the incumbent president to drop his unpopular re-election bid would have been a startling announcement. But given Algeria’s political system, President Abdelaziz Bouteflika’s move to withdraw his candidacy for a fifth presidential term and postpone April’s elections, made public on Monday, was welcomed by protesters as only a good start. Amid a growing protest movement, Algerians are being cautious about Bouteflika’s announcement because of what they call le pouvoir—the shadowy “power” that rules Algeria, made up of an assortment of aging army generals, secret service operatives and party apparatchiks. […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. Just two years ago, on the heels of Donald Trump’s election, the European Union was playing up China’s potential as a partner that could help preserve the global order. But a new strategy paper from the European Commission, released on Tuesday, moves to recalibrate the EU’s approach toward China, calling it an “economic competitor” and a “systemic rival.” The paper, which comes ahead of a planned series of high-level meetings between European and Chinese leaders, notes Beijing’s failure to […]

The danger of territorial disputes in the South China Sea is growing as China’s navy expands rapidly and the U.S. response wavers. Find out more when you subscribe to World Politics Review (WPR). With China’s aggressive posture in the South China Sea undermining the popular narrative of its peaceful rise, many experts correctly point to the dual tides of nationalism and militarization as drivers of hostile behavior. But leaning too heavily on these explanations conceals a third factor behind the South China Sea conflict: Beijing’s burgeoning demand for energy. Already the world’s largest energy consumer, China will only need more […]

At an investment conference in London on the last day of February, Jordan got what appeared to be a much-needed financial boost, with promises of assistance and loans totaling $2 billion. But for a nation whose economic challenges are likely to only intensify, with debt amounting to around 95 percent of its gross domestic product, the pledges were really just a drop in the bucket. Jordan has built a decades-old reputation as a kingdom of calm in an otherwise restive region. But its long reliance on that image of stability, underwritten by external support, may also be its undoing. Its […]

In its early days, the international trade regime that the United States and its allies created after World War II counted relatively few less-developed countries as members. For the first few decades, developing country members of the General Agreement on Tariffs and Trade, the precursor to the World Trade Organization, remained mostly small in economic size, unimportant in trade and participated little in multilateral trade negotiations. In the 1960s and 1970s, developed countries unilaterally extended preferential market access to poorer countries to spur economic growth and development. As the “newly industrializing countries” of Asia, followed by Brazil, India, Mexico, South […]

The shallow waters of the Gulf of Kutch, an inlet of the Arabian Sea along the northwestern coast of India, are ideal for fishing, with coral reefs and mangrove forests that provide breeding grounds for a diverse array of marine life. On the gulf’s northern coast, near the town of Mundra, the gently sloping seabed and calm tides make it easy to catch local delicacies like prawns, pomfret and a type of lizardfish known colloquially as “Bombay duck.” The Waghers, a Muslim minority group, have fished these waters for generations. They maintain permanent inland villages, but from September until May, […]

In this week’s Trend Lines podcast, WPR’s editor-in-chief, Judah Grunstein, and managing editor, Frederick Deknatel, discuss challenges facing China and what they mean for relations with the U.S., against the backdrop of the Chinese Communist Party’s annual National People’s Congress, which is taking place this week. For the Report, Shira Rubin talks with WPR’s senior editor, Robbie Corey-Boulet, about how Israel’s New Right party could jeopardize Prime Minister Benjamin Netanyahu’s re-election prospects. 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 […]

There has been much to criticize about President Donald Trump’s handling of America’s national security, including his recent declaration of a national emergency on the southern border. But while that declaration might be misguided, Trump has been right about one thing: The United States has never developed an effective strategy for the actual security challenges south of the border. Since the United States became a global power in the 20th century, it has used a sequenced method for addressing emerging threats—first building an understanding of them, then developing a working consensus among security experts and political leaders, and then relying […]

Editor’s Note: Every Wednesday, WPR Newsletter and Engagement Editor Benjamin Wilhelm curates the week’s top news and expert analysis on China. The National People’s Congress, China’s legislature, began its annual two-week session Tuesday in Beijing. Two days before that, the Chinese People’s Political Consultative Conference, a government advisory body, kicked off its own annual meeting. The combined gathering, known as the “two sessions,” is the biggest event on the country’s political calendar. It is an opportunity for China’s rubber stamp Congress to formally endorse proposed legislation, and it provides a platform for senior government figures to dictate priorities. The reports, […]

Before Saudi Crown Prince Mohammed bin Salman arrived in Beijing for a major visit late last month, he was the target of an intense lobbying effort at home and abroad. Members of the Uighur diaspora in Saudi Arabia and beyond hoped the young, powerful royal would acknowledge China’s nationwide crackdown on its own Muslim population. For the past year, a state-sponsored campaign against expressions of Islamic piety has roiled Muslim communities throughout China—especially in the northwestern region of Xinjiang, where analysts now estimate that more than 1 million ethnic Uighurs have been detained in so-called “re-education camps.” Instead, as he […]