In The News

¡Viva el Capitalismo!

Álvaro Vargas Llosa November 20, 2006
In 1986, the Reagan administration secretly sold arms to Iran and used the proceeds to fund rebel fighters in Nicaragua. Twenty years later, Iran defies the US with its pursuit of nuclear weapons – and the Marxist candidate that Reagan opposed, Daniel Ortega, has won his country’s presidency. Ortega is not in the mold of a leftist politician like Hugo Chávez, and he won for two reasons, according...

India’s Economy, Now With Muscle

Mark Sappenfield November 16, 2006
India’s rise as the premier destination for information-technology outsourcing has continued apace, since the government’s decision to privatize education ten years ago, marking the beginning of the Indian labor force’s scaling up. However, service-sector advances do not tell the entire Indian success story. Increasingly, manufacturing has become a rapidly growing sector of the economy....

Can Asia Count on Russian Oil?

Michael Richardson November 16, 2006
Nations rich in oil can wield great influence throughout the world, and the nations who must buy oil look for low prices and reliability. As the world’s largest exporter of natural gas and the second largest exporter of oil after Saudi Arabia, Russia is a major power broker when it comes to energy. Constructing pipelines across Asia, the Russian government is not clear about whether its earliest...

A Bigger Economy Doesn't Always Buy Happiness

Eric Weiner November 14, 2006
Economists rely on the size and growth of a nation’s gross domestic product to determine the health of any economy. But the GDP covers the sale of weapons, mindless video games, excessive packaging that ends up in landfills, prescription drugs that treat anxiety or depression, and expenditures for war. Robert Kennedy once said that GDP doesn’t measure "the beauty of our poetry or the...

Unifying the UN

Shaukat Aziz November 9, 2006
An increasingly interconnected world cannot withstand enormous inequality. An overhaul of the UN system is in order or the international body will be marginalized, warn prime ministers from Pakistan, Mozambique and Norway, who were charged by the UN secretary general to offer recommendations on improving policies in three key areas: sustainable development, response to world crises and...

The Perils of Beijing’s Africa Strategy

Elizabeth Economy November 7, 2006
As China wines and dines African leaders in Beijing this week, it ought to be aware not only of its own success in courting Africa but in the limits of that success. China has established major economic links throughout Africa in no small part because of its laissez-faire approach to African countries’ internal politics, doing business with nations like Sudan and Zimbabwe despite of their poor...

Vietnam’s Roaring Economy Is Set for the World Stage

Keith Bradsher October 30, 2006
Vietnam’s renunciation of statist economics in favor of capitalism in the early 1990s was a surprising development for the global markets. Along with China’s embrace of the market, Vietnam’s success story has raised the living standards of its citizens, drawn a large contingent of high-skilled émigrés back to the country and created a strong base for future development. Multinational...