The past year has seen dramatic declines in the prices of global commodities. Between June 2014 and the beginning of this year, crude oil prices fell by 50 percent to around $50 a barrel. Similarly, mineral prices have seen a drastic fall since the peak of the “commodity supercycle” in early 2011. Between then and April of this year, iron ore prices fell by 70 percent, coal prices by 54 percent and copper prices by 40 percent. Many countries dependent on revenues from these commodities have been hit hard. Venezuela is unable to import food and medicine to satisfy the […]
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As Iraq devolved into insurgency in 2004, the Washington policy community was filled with ominous warnings of “another Vietnam.” The war in Vietnam was, after all, America’s benchmark for counterinsurgency and hung like a dark cloud over every debate on U.S. national security policy during the height of the Iraq War. But it soon seemed that the Vietnam analogy did not apply to Iraq. After a careful assessment, Jeffrey Record and Andrew Terrill, both widely published national security experts, concluded as early as May 2004 that “the differences between the two conflicts greatly outnumber the similarities.” Soon references to Vietnam […]
Editor’s note: This article is part of an ongoing WPR series on the South China Sea territorial disputes and the various claimant countries’ approaches to addressing them. Last week, it was reported that the U.S. is considering sending Navy ships and aircraft to waters surrounding islands claimed by China in the South China Sea to demonstrate freedom of navigation. The reports follow a month-long media campaign calling attention to China’s expansion of the islands to accommodate airstrips and military facilities. China’s reclamation activity around the Spratly Islands also dominated conversations at last month’s ASEAN meeting in Kuala Lumpur, with the […]
After a steady decline in Islamist extremism in Southeast Asia over the past decade, during which the region shed its post-9/11 image as a possible second front for al-Qaida, the rise of the self-declared Islamic State (IS) has some governments fearing a new threat. In response, Malaysia, Indonesia and Singapore in particular are acting individually, bilaterally and regionally to stem recruitment, radicalization and the flow of foreign fighters. Over 500 young Southeast Asians are returning home after fighting for IS, as many did during the Afghan mujahedeen’s jihad against the Soviet occupation of Afghanistan in the 1980s. Given that over […]