In The News

Washington and the Argentine Default

R. Viswanathan August 29, 2014
Argentina wants to pay bondholders who agreed to a restructuring settlement and withhold full payment to a few holdouts, but a US judge ruled that all or none must be paid. “Argentina has now taken the matter to the International Court of Justice, complaining that the decision of the U.S. judiciary is arbitrary, abusive, and beyond its jurisdiction besides ignoring the sovereign immunity of...

Is the United States In or Out on Globalization?

Edward J. Reilly August 28, 2014
US political leaders are fretting about the need for tax reform as US companies purchase partners in tax-friendly countries, relocating their headquarters and tax base. The latest example is Burger King’s proposal to purchase Tim Hortons restaurant chain, based in Canada. The United States may be ambivalent on globalization, but there is no turning back, argues strategic communications consultant...

Trans-Afghan Pipeline Initiative: No Pipe Dream

Marc Grossman August 28, 2014
Despite a stream of bad news, development plans are underway even among nations with adversarial relations. Afghanistan, Turkmenistan, Pakistan and India signed an agreement in early July to move forward with a 1,700-kilometer natural gas pipeline. “This $7.5 billion project known as TAPI, or the Trans-Afghan Pipeline Initiative, has the potential to catalyze investment and trading opportunities...

Companies Fear Radical Turn in Argentina

Benedict Mander August 25, 2014
Argentina has defaulted on its bonds twice since 2001. The country had settled with most bondholders, but the terms of some loans required disputes settled in US courts. A US judge sided with the minority, ruling that Argentina could not avoid the holdouts. A defiant Argentina swiftly responded with a swap plan to continue paying most creditors, but not the holdouts. Foreign firms doing business...

The Economics of Ebola

Amara Konneh August 14, 2014
The Ebola threat disrupts daily routines in the four countries where infections are spreading and concern is high in neighboring nations and beyond about doing business or accepting travelers and students from the region. The numbers of infections are small. Meticulous attention to precautionary measures can prevent the spread, but a 60 percent fatality rate is alarming. “The reason this...

All Eyes on Africa

J. Peter Pham August 14, 2014
Disturbing news out of Africa, whether about extremist Boko Haram or the outbreak of Ebola, are aberrations for a young continent eager to grow and innovate. Like China and Europe, the United States is ready to court Africa as signaled by the first US-Africa Leaders Summit, explains J. Peter Pham, director of the Africa Center at the Atlantic Council. “The summit itself underscores the broad...

An Interview With the US President

August 8, 2014
Multiple powers, including China and the United States, will contribute to ongoing economic development in Africa, suggests US President Barack Obama. Editors with the Economist interviewed Obama just before the US summit with African heads of state and business leaders in Washington, and he offers insights on US relations with emerging economies: ASEAN nations do not want to choose between China...