Briefing Archive

Since China embarked on a credit-fueled stimulus package in 2009 designed to stave off the impact of the global financial crisis, the rapid buildup in the country’s aggregate debt has become a source of concern. Although successful at the time, the stimulus has increasingly become viewed as ill-judged by government officials. As a result, the new leadership is making a concerted effort to quantify the leverage situation and control associated risks. Measures to increase capital discipline in the economy are gaining traction, but Beijing increasingly finds itself striking a balance between managing debt risks and maintaining adequate economic growth. China’s […]

Hery Rajaonarimampianina has won Madagascar’s first presidential election since a 2009 coup, according to provisional results announced by the country’s electoral commission. But Madagascar’s Special Election Court must rule on the definitive outcome after considering appeals and claims of fraud from rival candidate Jean Louis Robinson. The court has about 10 days to decide whether to verify the announced results of the Dec. 20 election, according to which Rajaonarimampianina, a former finance minister, won 53.5 percent of the vote, a comfortable seven-point margin over Robinson’s 46.5 percent. The court has already rejected conflicting submissions by both candidates, each seeking to […]

Bangladesh Prime Minister Sheikh Hasina has won the country’s 10th parliamentary elections in a disputed poll that was boycotted by the opposition and its allies and held amid large-scale violence that left at least 18 dead. Armed with a landslide “victory,” Hasina is set to form the next government even as questions are being raised about her legitimacy and the credibility of the elections. The opposition Bangladesh Nationalist Party (BNP) has demanded that the polls be declared null and void. A defiant Hasina, however, has claimed that the victory is legitimate and has said the BNP “made a mistake” by […]

Since President Rafael Correa came to power seven years ago, U.S. relations with Ecuador have been rocky. Most recently, in December 2013, the U.S. Agency for International Development decided to pull out of Ecuador in 2014 after the agency failed to reach an agreement with Quito over continued support of democracy promotion efforts, which the Correa administration regards as targeting the government. Just days later, the Correa government reacted angrily to a Washington Post report alleging that the CIA had offered crucial assistance to Colombia in a 2008 strike against FARC rebels in Ecuadorean territory; the U.S. had denied any […]

Ireland and Portugal, though dissimilar in many ways, share the distinction of being the first members of Europe’s troubled periphery to graduate from a bailout. They also share a pressing need to go beyond the budget austerity they have had to adopt and secure fundamental economic and financial reforms. In this, the two countries exemplify a more general need throughout the eurozone and underscore why, for all the gains made in dealing with this fiscal-financial crisis, Europe remains vulnerable to another crisis. There is much reason to cheer the successful emergence of these countries from their bailouts. In 2011, Ireland […]

The Italian political landscape is slowly changing. In the past few weeks, major shifts have occurred in the leadership and structure of both the key parties of the left-right coalition that is supporting the government of Prime Minister Enrico Letta. Developments in the center-right directly affected the size and composition of the parliamentary majority backing the cabinet. Due to his conviction for tax fraud, former Prime Minister Silvio Berlusconi was expelled from the Senate in late-November. Earlier that month, Berlusconi had decided to sink his People of Freedom Party (PdL) and relaunch Forza Italia, the movement of his 1994 political […]

Mexico’s recently enacted energy reform bill marks an important first step on the long path of transforming the country’s energy sector. Now that the constitutional changes have been ratified by a majority of states, the real work of drafting the enabling legislation, creating new institutions and profoundly changing many existing ones now begins. All of this will take time, and there will be much to debate along the way. The reform’s ultimate success will depend on maintaining political support while managing public expectations during the long slog of implementation. While Mexico’s challenges in implementing the reform are complex and many, […]

During his campaign for president in 2008, Barack Obama promised that he would restore America’s standing in the world—in part by using his unique multicultural background to better communicate with U.S. friends and foes alike. While Obama has certainly enjoyed some foreign policy successes, there is one region in which he has so far glaringly and disappointingly fallen well short of that promise: Africa. By every conceivable metric, Africa is growing in stature and importance. More than 60 percent of Africans are below the age of 25, and the continent’s population is expected to double by 2050 to more than […]