In The News

A Bitter Dispute Frozen in Time

Justin McCurry February 10, 2005
In the days following Japan's surrender in World War II, the Soviets seized four Japanese islands known as the Northern Territories. Sixty years after the war, the Russians still possess the islands, and Japan wants them back. While Russia is willing to honor a 1956 agreement to return two of the islands, Japanese leaders insist on the return of all four. As the author writes, amid the...

Everybody's a Winner

Tarek Atia February 9, 2005
The Dubai Shopping Festival (DSF) is one of the world's largest celebrations of the culture of consumerism. From the airport to the glitzy "Global Village" outpost, the festival, with its elaborate marketing ploys and promotions, is weaving a shopping ethos into the fabric of the city. Ten years after the first DSF was held, Dubai has undergone a huge construction boom, luring...

Dealing with a Declining Dollar – Part I

Jeffrey E. Garten February 7, 2005
There may be trouble brewing in the global financial system. With US external debt now over US$2.5 trillion, foreign creditors may soon demand higher interest rates in order to keep money flowing into America. In turn, this might lead to a US recession that will eventually spread globally. However, such a disaster could be averted if other countries were to allow their currencies to move...

Out of the Shadows

Malcolm Maiden February 7, 2005
The rise of China and India – one, the world's most populous country and the other, the world's biggest democracy – seems to only be a question of time. With both countries on Australia's front doorstep, one would think that the Commonwealth would do everything possible to capitalize on this potential growth. But while relations with China have bloomed, the same cannot be said...

US Resolution Reveals Distrust of China, EU

February 4, 2005
As Brussels decides to suspend the 15-year-long arms embargo against China, European and Chinese politicians continue to nurture their flourishing relationship. Meanwhile, Washington remains anxious about the possible implications for regional geopolitics in the Asia-Pacific region – especially across the Taiwan Strait. According to this People's Daily commentary, a new US legislative...

Where Trade Trumps Politics

Quentin Peel February 3, 2005
In an effort to further ties with China, the European Union appears poised to lift an arms embargo imposed on the country for the past 15 years. From a military standpoint, the practical consequences may not be severe: China already buys sophisticated arms from Russia and Israel. However, any arms repeal would only further strain US relations with Europe; at this point, US officials are left...

Fakes!

Frederik Balfour February 2, 2005
Counterfeiting is a criminal activity that costs the global economy billions every year. The manufacturers of fake goods have become increasingly professional, their wares often indistinguishable from the real things. And by slipping counterfeit products – or parts of products – into the supply chain at different stages, they have slipped seamlessly into the world market. China is central to...