Resources Archive

On Sunday, Feb. 21, Bolivians rejected a referendum that would have allowed long-serving President Evo Morales to run for a fourth term in office, continuing a recent trend across Latin America of citizens voting for change. As the country’s first president of indigenous descent in a nation where between 40 percent and 62 percent of the citizenry self-identify as indigenous, Morales remains popular but is term-limited and must leave office in 2019. The president anticipated victory. What he did not factor in, apparently, was being overtaken by Latin America’s anti-incumbency wave. Since his first election in 2006, Morales has assiduously […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. Last month, Malaysia cut its 2016 growth forecast and slashed spending plans as the economy continues to suffer from falling oil prices. In an email interview, Joshua Kurlantzick, senior fellow for Southeast Asia at the Council on Foreign Relations, discussed Malaysia’s economy and the impact of the commodities slump. WPR: How important are oil and commodities for Malaysia’s economy, and what impact have falling oil and commodities prices had on domestic politics? Joshua Kurlantzick: Oil and commodities […]

For the first time, Saudi Arabia’s budget this year includes measures to gradually reduce subsidies on gasoline and other fuel, in response to declining oil revenue from the slump in global energy prices. The move, replicated in other Arab Gulf states, represents a fundamental challenge to the assumptions on which the region’s economy and political structure are based. Since the beginning of the year, millions of Saudis have found it more expensive to drive to and from work each day. To people living outside the Gulf, the burden may not seem onerous. The cost at the pumps of higher-grade gasoline […]

For more than six decades following India’s independence in 1947, urbanization remained an afterthought for policymakers, who hardly recognized the positive relationship between urban expansion and economic development. It wasn’t until 1984, when Rajiv Gandhi became India’s youngest prime minister and brought with him a new, young brigade of leaders, that those in power began to acknowledge that urbanization could serve India’s economy. Gandhi’s initiatives on urbanization, while new, were nonetheless hesitant. Through the 1990s and the early 2000s, analysts increasingly spoke of India’s “urban turn” and hinted at the beginnings of a serious investment in urban infrastructure and connectivity. […]

Teodoro Obiang Nguema Mbasogo, Africa’s longest-serving head of state, appears poised to formally extend his rule over oil-rich Equatorial Guinea later this year. The septuagenarian strongman has confirmed his intention to run in November’s presidential election, a contest no one expects him to lose, since the political opposition is marginalized and the state is firmly under the control of Obiang and his family. Though the election results already look certain, volatile energy revenues and Obiang’s ongoing efforts to position his son as the heir apparent threaten to jeopardize the regime’s future stability. The oil slump undermines Obiang’s long-established strategy of […]

Editor’s note: This article is part of an ongoing WPR series on the impact of falling oil and commodities prices on resource-exporting countries. As a commodities-exporting country deeply linked to the Chinese market, Mongolia faces heightened risks from the current commodities slump and China’s economic slowdown. In an email interview, Jonathan Berkshire Miller, director of the Council on International Policy, discusses the impact of the commodities slump on Mongolia. WPR: How important are commodities for Mongolia’s economy, and what effect have falling commodities prices had on public spending and, by consequence, political stability? Jonathan Berkshire Miller: Commodities, and their prices, […]

Assessments of the largest emerging economies—China, India and Brazil—and their global influence have been as volatile as each of their stock markets. In the wake of the 2008 global financial crisis, the buoyancy of their economies supported both a global recovery and their status as the rising powers of the 21st century. Now, the boom decade after 2001 seems a distant memory. As China’s economy slows from supercharged to respectable growth and rebalancing curbs its demand for commodities, growth in commodity-producing countries, Brazil among them, has slumped. Even India, which surpassed China’s growth rate for the first time in 2015, […]