Prices are climbing for oil, the most traded commodity on global markets and the world’s leading energy source. Much production is in volatile regions, and it comes as little surprise that production and trade in crude oil and refined petroleum products have produced a flourishing illicit market...
Hot commodity: High energy prices can encourage black markets, and oil from a makeshift refinery in Idlib, Syria, can eventually make its way to tankers destined for Europe or the Asia Pacific (Reuters)
BERKELEY: Oil is still the world’s leading...
Ongoing economic growth, as well as international trade and investment, continues to lift millions from poverty and make national economies more interdependent. Globalization not only provides economic opportunities, but increases global resilience against all manner of crises. Yet, despite...
Here's a fact worth reiterating: despite the severe shocks and imbalances that have hit it off and on during the early years of this century, the world economy continues to grow, with low inflation. Of course,...
Among Islamic State terrorists’ bizarre beliefs: The end of the world is near, and Muslims should embrace fear of God and rigid IS beliefs. As self-appointed caliph Abu Bakr al-Baghdadi claims to lead all Muslims. Despite roots with Al Qaeda, he and other leaders became frustrated with priorities...
Click here for the article in The Atlantic.
The US has long attracted the world’s top talent coming to its shores for study and work and benefited richly from their innovations. Advanced engineering, math and science programs of US universities depend on students from China, India and South Korea: More than a third of the US doctoral-level...
Talent power: Chinese engineers at a solar cell production plant (top); Indian researchers conduct tests at Ranbaxy Laboratories in Mumbai
WASHINGTON: Beleaguered by growing competition from goods made in China and services produced in India, the...
It has taken Vietnam a mere 15 years to develop from a low-income country to one that is middle-income. As a result, Vietnam has emerged as a regional economic power in Asia, its growth only trailing that of China. The US and China are both eager to counter the other’s influence in Vietnam –...
Click here for the original article on The New York Times website.
In this commentary in Singapore's Straits Times, William Pesek Jr. argues that "The West may be preoccupied with Iraq, but those who ignore risks from North Korea could be hit on the blind side by declining Asian markets." The 'North Korea Effect' he describes anticipates...
SEOUL - A new theory is making the rounds for what might precipitate a Japanese banking crisis: North Korea.
Here's the scenario. Pyongyang resumes missile testing in the months ahead. Next, it test-fires...
Poverty is concentrated in middle-income nations, explains Ejaz Ghani, World Bank economic advisor, writing for Project Syndicate. Poverty-reduction programs struggle to keep pace with population growth and rising wage inequality, though growth can ease the effects of income inequality. Income...
Click here for the article in Project Syndicate.
If American policymakers hope to exercise influence in international affairs, they must recognize that US control wanes as more economic power spreads around the globe. The US can prepare accordingly by recognizing its own deficiencies – high debt, protectionist tendencies and overdependence on...
With Iraq, Afghanistan and the war on terror dominating headlines in Washington these days, there's a real danger that U.S. policymakers will lose sight of the other major war currently being fought around the world --...
