In The News

IMF Raises Spectre of Civil Wars as Global Inequalities Worsen

Ambrose Evans-Pritchard February 3, 2011
Reports of global economic recovery could be misleading. Indicators showing steady rises – in income, trade, stock markets or employment – focus on averages and mask growing divides between rich and poor both between and inside nations. Recovery built on “unstable foundations” could “sow the seeds of the next crisis,” warns Dominique Strauss-Kahn, Managing Director of the International Monetary...

Uganda: Surely, We Are Not As Simplistic as the Tunisians, Are We?

Fredrick M. Masiga January 25, 2011
After economic troubles, high unemployment rates and protests over one man’s cruel death led to quick revolt in Tunisia, other nations engage in self-reflection. College graduate Mohamed Bouazizi was frustrated after authorities beat him and confiscated his vending cart. Left without livelihood or legal recourse, the 26-year-old set himself on fire and ignited his nation’s fury. Public anger...

Challenging Globalization

Nayan Chanda January 24, 2011
Americans are angry about economic decline. Though the country unleashed many of the forces that spur modern globalization, its politicians resist adapting to a globalized world. US companies find new opportunities, lower wages and an expanding middle-class customer base in overseas markets. Sharp political divide in the US adds to uncertainty and a floundering economy. Both major parties want to...

China and the EU: Building a Reciprocal Relationship

Doug Saunders January 21, 2011
A three-nation European tour by the Chinese vice-premier underscores China’s critical role for the continent’s economy. “China, in short, has become Europe's rescuer,” writes Doug Saunders for the Globe and Mail. China easily directs its reserves to buy up bonds from countries in shaky financial condition. In return, China wants the European Union to open its markets to Chinese exports. It...

The Markets Prey on Debt-Laden Nations

Joergen Oerstroem Moeller January 17, 2011
The world has gross savings of more than $61 trillion, reports the International Monetary Fund. Those holdings are highly imbalanced: China’s surplus is more than $4 trillion while the US owes $14 trillion. Investors relentlessly detect and predict trends in pursuit of higher profits. Japan, the US and many European nations carry high debt loads. The financial markets are impatient with low...

Tunisia Protests Serve Warning to Autocratic Regimes

Kristen Chick January 14, 2011
Following days of protest in Tunisia that turned violent after security forces shot scores of people, the country’s long-time president Ben Ali has gone in to exile. Facing the fury of the protesters demanding his resignation, President Ben Ali, in power since 1987, promised not to seek re-election in 2014. Instead of pacifying the protesters, his response has further strengthened the...

China Extends Help to Tackle Euro Crisis

Jamil Anderlini December 31, 2010
The EU is China’s biggest export market: Trade for 2010 is up by more than 30 percent over 2009 levels. China, not wanting its huge customer base to struggle, purchases European bonds and assists in financial stabilization. “China classifies the composition of its foreign exchange reserves as a state secret and European and US officials say it is often very hard to determine the true scale of...