Pakistan has turned to China for economic and military help, clearly hoping for a less volatile relationship than the one that it has with America.
The challenge for China is to exert its power and influence in a way that harmonizes with the US, despite widespread displeasure among Chinese at America’s position on a variety of issues
The US and Europe are not only failing to respond to the African drought; they have probably contributed to it through their greenhouse-gas emissions.
It is becoming increasingly clear, however, that the problem is one not only for the US, but for the rest of the world as well.
China is no longer willing to risk financial and economic stability on the basis of Washington’s hollow promises and tarnished economic stewardship.
Without Ecuador’s gimmicks, buybacks do not seem to be the solution to Greece’s debt overhang.
It is now apparent that the United States is the main culprit in preventing the ten-year-old multilateral trade negotiations known as the Doha Round from being closed this year.
The lesson is simple: We should worry less about debt ratios and thresholds, and more about our inability to see these indicators for the artificial – and often irrelevant – constructs that they are.
The hope that Turkey is finally shedding its authoritarian vestiges and becoming a stable democracy will lie in tatters.
Like an airplane piloted in confusion, the European economy has not behaved according to the instructions.
In the long run, however, we will have to answer the broader question that the eurozone’s various debt crises have raised: Is the social value of making finance cheap worth the days of reckoning for stricken debtors?
It would be far preferable to exchange old Greek bonds for Eurobonds, backed by the full faith and credit of all eurozone countries.
A large study in South Korea recently reported a further jump to 1 in 38 – an astounding 3% of the general population was labeled autistic.
The House and Senate Republicans who do not want to raise the debt ceiling are playing with fire.
What matters is the interconnections that link a particular country, institution, or group of institutions (for example, Lehman Brothers and AIG) to the wider world economy.
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