Economics & Business Archive

On Christmas Eve in 2002, I was suddenly dispatched from my base in Tokyo, where I was the New York Times bureau chief at the time, to Seoul, the capital of South Korea, to cover reports that North Korea was about to reactivate a nuclear reactor that had previously been taken out of service as a result of painstaking negotiations between Washington and Pyongyang. The United States suspected that if operations resumed at the reactor, which had supposedly been built for research purposes, the North Korean government would soon begin reprocessing its spent nuclear fuel to build up a supply […]

With the first visit in four decades by a U.S. secretary of state to Fiji and plans to open an embassy in the Solomon Islands reportedly in the works, Washington officially announced its “return” to the Pacific Islands this past weekend. “It is about building a free and open Indo-Pacific, defending it with democratic institutions, with transparency, with commitment to a rules-based order that we share,” Secretary of State Antony Blinken said at a joint press conference with Acting Fijian Prime Minister Aiyaz Sayed-Khaiyum on Feb. 12. Blinken spoke after a virtual meeting with 18 Pacific Island leaders meant to […]

Opposing corruption is not “easy” nor is doing so a “convenient distraction” from addressing “the world’s most persistent ills and injustices,” as Gabriella Cook Francis and Christopher Sabatini argued in a recent World Politics Review article titled, “The Corruption Obsession is a Convenient Distraction.” To the contrary, we insist that the “ills and injustices” to which the authors refer will never be properly addressed while endemic serious corruption, kleptocracy and state capture are allowed to persist in modern states. Our interest in the topic and our desire to correct what we consider to be the misconceptions in their article stem from our […]

The sixth leaders’ summit between the African Union and European Union will finally take place this week in Brussels, following several postponements due to the coronavirus pandemic. Traditionally occurring every three years, the summit was initially scheduled for 2020. The AU-EU summit is often touted as the ideal venue for European and African elites to discuss issues of mutual concern. But this one is particularly significant, as it provides the opportunity for both sides to unpack the new EU strategy directed toward Africa, which was launched in 2020. Beyond the strategy, however, the EU also just launched the 300 billion euro Global Gateway initiative […]

KYIV—Oleksandr Biletskyi is standing in a lecture hall on the outskirts of Kyiv laying out the items he considers most necessary to have on hand for emergencies. On the table in front of him, he’s placed a bag containing a compass, a pocketknife, a carabiner and a roll of tape. Gently, he adds three more bags: one with a Kalashnikov, one with a shotgun and one with a pistol. “We have to prepare for anything,” he tells me. Normally, this lecture hall, which belongs to Taras Shevchenko National University, offers continuing education courses in law, economics and psychology. Today, it’s […]

Costa Ricans went to the polls Feb. 6 for the first round of the country’s presidential election, as well as its congressional elections. But with none of the 25 presidential candidates able to reach the 40 percent of votes required to win the contest outright, the country will hold the runoff round in April to decide whether first-place finisher Jose Maria Figueres Olsen or runner-up Rodrigo Chaves will become its next leader. One of the most stable democracies in Latin America, Costa Rica’s electoral integrity standards are considered to be among the most transparent and fair in the world. But a […]

The Nuclear Non-Proliferation Treaty’s 10th Review Conference has been postponed repeatedly due to the coronavirus pandemic, perhaps a symbol of the degree to which global efforts to curb the proliferation of nuclear weapons and reduce global stockpiles have stalled in recent years. North Korea continues to expand its nuclear capabilities, and the U.S., China and Russia are all investing heavily in modernizing their arsenals. And efforts to bring Iran back into compliance with the nonproliferation regime have been set back by the Trump administration’s withdrawal from the multilateral deal known as the JCPOA, or Joint Comprehensive Plan of Action, that […]

Recent signs of a thaw in ties between Israel and Turkey after a decade of frosty relations are yet another reflection of how the Middle East’s changing regional order is not only leading to the emergence of new relationships, but also to adjustments in old ones. The thaw is in part the result of a regional realignment that has left Ankara more isolated, but it is also being driven by Israel’s shifting priorities and Turkey’s urgent economic and political challenges. While Israel and Turkey are publicly moving in the right direction, the new reality—which has made this relationship more important to Turkey […]

Since last April, the U.S. has been engaged in indirect negotiations with Iran on restoring the 2015 deal limiting Tehran's nuclear program known formally as the Joint Comprehensive Plan of Action, or JCPOA. If these talks succeed, or should they fail, the impact will reverberate across a range of issues beyond the nonproliferation file over which Washington and Tehran are at odds. When the Trump administration withdrew from the JCPOA in 2018, it laid out 12 demands addressing various aspects of Iranian policy it wanted Tehran to change. Of the concerns it identified, three directly dealt with the nuclear program, and […]

With the Winter Olympics now underway, all eyes are fixed on the competing athletes as they take to the ice and snow. But amid the dazzling displays of athletic prowess, significant developments have simultaneously taken place on the diplomatic sidelines of the Games. Russian President Vladimir Putin, who arrived in Beijing last Friday ahead of the opening ceremony of the Winter Games, met his Chinese counterpart, Xi Jinping, marking their first in-person encounter in two years, ostensibly due to Xi’s self-imposed travel restriction amid the coronavirus pandemic. The talks, described by Chinese Vice Foreign Minister Le Yucheng as “very successful,” ended […]

On Aug. 7, 2008, I boarded a flight from Shanghai, leaving China for the last time as bureau chief for The New York Times there, on the very eve of the opening ceremonies of the Summer Olympics in Beijing. Rather than cover it in person, I watched the grandiose show, or at least some of it, from the remoteness of Virginia. Given the scale of China’s investment in hosting the Games for the first time, I thought the Olympics were an especially good bookend for my six years living in the country, but I didn’t need to be there myself. […]

Given the enormous impact of the coronavirus pandemic on global public finances, it is hardly surprising that cash-strapped governments across Africa—from Nigeria, Ghana and Cameroon to Kenya, Uganda and Zimbabwe—are experimenting with a range of tax increases to broaden state revenues. That, in turn, has put the spotlight on tax collection across Africa more broadly.  A recent Financial Times article discussing Nigeria’s paltry formal revenue collection rates is emblematic of the usual coverage of the issues involved, which are recurring topics of discussion on social media and in other public arenas,  including among prospective candidates in Nigeria’s upcoming presidential election. But while the question of […]

Being an activist is tough. Being a young activist is tougher still. Although youth-led groups and movements have proven time and time again they can be drivers of progress and prosperity, the world has a poor track record of offering them a helping hand as they try to do so.  Today, for instance, we look back with fond nostalgia at the protests that swept the West in 1968, including the civil rights movement in the U.S. that resulted in the landmark Civil Rights Act, as well as student and wildcat strikes across France known collectively as May ’68. Popular accounts of that time highlight how […]

The current crisis between Russia and Ukraine has put the United States and its European allies on high alert over the possibility of the first major interstate military conflict in Europe since World War II. Although efforts to find a diplomatic resolution to the crisis continue, the room for a mutually acceptable outcome has narrowed now that the U.S. and NATO have rejected Russia's demands that no additional NATO troops be deployed to Eastern Europe, while continuing to provide arms and other aid to Ukraine. Apart from the concerns the crisis has raised over European security and Russian revanchism, Europe […]

Sanctions are in the air everywhere these days. Just this week, there was a ratcheting up of sanctions, travel bans and asset freezes against the military juntas in Myanmar and Mali, almost certainly to be followed by sanctions against military leaders in Burkina Faso, who overthrew that country’s democratically elected government last week. Meanwhile, the U.S. Congress moved one step closer to passing a raft of new sanctions on the Sudanese military for its October coup. Then, of course, there are the very serious threats by the U.S. and its NATO allies to impose wider sanctions against Russian President Vladimir Putin or on the Russian economy if Russia invades Ukraine.  […]

LA PAZ, Bolivia—In early December, United Nations rapporteurs published a letter of allegations against the Bolivian government, citing the untrammeled import and use of mercury for gold mining, and suggesting that Bolivia had become a gateway for contraband mercury going to other Amazonian countries. It further accused Bolivia of failing to comply with the Minamata Convention that regulates the use of toxic substances. In signing the Minamata Convention along with almost every South American country in 2013, Bolivia committed to curbing and eventually eliminating almost all uses of mercury, including in artisanal gold mining. Bolivia ratified the agreement in 2015, and […]

Just before U.S. President Joe Biden met with Qatar’s emir, Tamim bin Hamad al-Thani, in the Oval Office on Tuesday, the White House shared a post on Twitter listing the visit’s agenda, which included “security and prosperity in the Middle East, global energy supplies, Afghanistan and more.” It was clear Sheikh Tamim’s visit was not just symbolic. Sheikh Tamim is the first regional leader to meet with Biden since he became president, a sign that Washington views Doha as an important element in confronting urgent U.S. priorities. And as if to underscore that point, Biden announced this week that he had designated […]