In The News

Oil Supply I: The Arabs Look to the East

Michael Vatikiotis November 18, 2004
The relationship between Saudi Arabia and its allies in the West may never be as warm as it once was in the pre-9/11 era. Luckily for the kingdom, it sits on one-quarter of the world’s reserves of crude oil, and East Asia desperately needs oil to fuel its staggering economic growth. China’s efforts to satiate its unquenchable thirst for oil have spawned greater economic and political ties to the...

The Plot Thickens: Testing European Tolerance

Shada Islam November 17, 2004
The recent murder of a Dutch filmmaker has provoked anger and fear across the Netherlands. As anti-Muslim violence escalates, some mainstream Dutch politicians have broken from their traditionally tolerant approach, calling for a crackdown on their own Muslim citizens. The problem, however, is both deeper and more widespread. Although European governments have worked hard to extend an olive...

Microentrepreneurs' Contribution to Microcredit Too Long Ignored

Ron Luhur November 17, 2004
Banks and credit facilities have long been hailed for providing small loans, or microcredit, to the poor so they can start businesses and thus raise themselves from poverty. And indeed, thanks to these loans, 94 percent of the business entities in Indonesia are small businesses, employing over 136 million people, or two-thirds of the population. But credit institutions are not alone in igniting...

Bridging the Mediterranean

Ayman El-Amir November 15, 2004
The Euro-Mediterranean region has historically been a culturally diverse area with European, African, and Middle Eastern influences. The Byzantine, Roman, and Prussian empires have all taken foot-hold in this region, creating a cycle of "conquest, counter-conquest, competition, and colonialism," according to the Al-Ahram Weekly. When the Arabs extended their regional influence, they...

US Election and the World – Part III

Arnold Zeitlin November 12, 2004
In the aftermath of the greatly anticipated US elections, observers worldwide are assessing the consequences of George W. Bush's re-election. In a multi-part series, YaleGlobal checks in with different regions, gauging the reaction to the landmark political event. To the extent one can ever generalize about a vast region of the world, a veteran observer of Asia, Arnold Zeitlin finds a large...

Grassroots Versus Globalism

Janadas Devan November 12, 2004
When India's ruling party suffered a surprising defeat in April elections, a myth that had been woven through the nation came unraveled. Though the Indian government had beamed optimistically about its robust economic growth and burgeoning urban middle class, most Indians remained in rural areas mired in poverty. The losing BJP party had failed to reconcile the major paradox of globalization...

Can Arab Financial Institutions Rise to the Challenge?

Dr. Bassam Fattouh November 11, 2004
Several Middle Eastern governments face large public deficits and mounting public debts. In the midst of this mounting crisis, a logical solution might be to involve Arab banks in energy and infrastructure investments. The Arab financial sector is currently dominated by banking. However, warns this Daily Star news analysis, Arab banks are highly localized, with a stiff structure that limits their...