Business

Trump’s Republican Base Is Wary of India

Core Trump supporters view trade deals as benefiting other countries at the expense of the United States. Pratik Chougule The National Interest The U.S. decision to remove India from the Generalized System of Preferences program last month, citing its lack of “equitable and reasonable” market access, was the toughest action of the Trump presidency against the country. It may also be a sign that a decade of growing U.S.-India partnership is entering a new normal with lingering economic and trade disputes taking ... Read More »

France, Spain and Belgium ‘ready for no-deal Brexit next week’

Chance of May getting 30 June extension appear slim after notes of EU meeting emerge Daniel Boffey, Jon Henley and Jennifer Rankin The Guardian France has won the support of Spain and Belgium after signalling its readiness for a no-deal Brexit on 12 April if there are no significant new British proposals, according to a note of an EU27 meeting seen by the Guardian. The diplomatic cable reveals that the French ambassador secured the support of Spanish and Belgian colleagues in arguing that there ... Read More »

The oil and gas of Lebanon tempts the appetite of its neighbours

With three fronts potentially encroaching on its oil and gas-rich waters, Lebanon has few options for international arbitration. TRTworld Lebanon has 95.9 trillion cubic feet of gas and 865 million barrels of oil in just 45 percent of its economic waters; enough to ignite the closed Mediterranean region. To the south, its neighbour Israel claims ownership of 860km of the exclusive economic zone of Lebanon, to the north Syria is drowning in war, then there is Cyprus, which is lost ... Read More »

Today’s Nationalism is Bad for Business

Multilateralism and global cooperation are under increasing threat, posing a serious risk to future prosperity. Business and finance leaders should care deeply about this state of affairs, so why aren’t they doing much more to help counter it? Lise Kingo , Scott Mather Project Syndicate NEW YORK – The system of international cooperation that emerged from the ashes of World War II is at risk. Multilateralism and the institutions that support it – including the World Trade Organization, the United ... Read More »

How to cure America’s debt addiction (and invest in the future)

Under current policies the federal debt will rise from 78% to almost 180% of U.S. GDP in three decades. William G. Gale and David Wessel Brookings In his new book, “Fiscal Therapy: Curing America’s Debt Addiction and Investing in the Future,” Brookings Senior Fellow William Gale explores policies to raise revenue, control spending, and increase public investments, and solve our debt problem. In this episode, Senior Fellow David Wessel interviews Gale about his new book and policy ideas. Also, Christen Linke Young, a ... Read More »

Being BAME often means being over qualified and under paid – here’s how pay reporting could help

As companies with more than 250 employees submit their gender pay figures to the government for the second year in a row, it’s become an increasingly accepted way to combat the gender pay gap. Tolu Olarewaju The Conversation Similar plans are being considered for ethnicity pay. This is because the UK government’s Race Disparity Audit has showed widely varying outcomes in areas including education, employment, health and criminal justice between Britain’s white and ethnic minority populations. Mandatory pay reporting could ... Read More »

Are China and Russia going to dominate the Mediterranean Sea?

As NATO celebrated its 70th anniversary in Washington, one compelling security issue received insufficient attention: Chinese acquisitions of critical European infrastructure, especially ports. Trudy Rubin The Inquirer Chinese state-controlled firms now hold stakes in more than a dozen European ports on the Mediterranean and the Atlantic, from Belgium to Spain to ownership of the legendary Greek port of Piraeus. Already, one-tenth of Europe’s container terminal capacity is under Chinese control. A week ago, defying allies, Italy became the first major ... Read More »

The nations of the Amazon want the name back

Online retail giant Amazon and the governments of eight South American countries have been given a final deadline to reach an agreement over how to use the “.amazon” web address extension after a seven-year dispute. What will happen next? Pablo Uchoa BBC It’s a name that evokes epic proportions: the world’s largest rainforest; a global tech company; and now a diplomatic saga nearing its end. This is the battle of the Amazon and it starts back in 2012. The Internet ... Read More »

The EU’s China Conundrum

The European Union is increasingly caught between the United States and China. Until it finds a common strategic purpose, the bloc will struggle to advance its interests and is increasingly likely to fall victim to great-power plays. Philippe Legrain Project Syndicate LONDON – Europeans can’t agree on how to handle a rising China. While European Union leaders were gathering in Brussels recently to discuss a more assertive common approach, Chinese President Xi Jinping was visiting Rome. Xi was there to ... Read More »

Erdoğan’s Four Challenges

Turkey’s president suffered a frustrating setback in local government elections as democratic resilience prevailed. Marc Pierini Carnegie Europe Watch out for the impact on the economy, the rule of law, defense, and Syria. Turkish President Recep Tayyip Erdoğan’s campaigning was vintage AKP electioneering: playing a nationalist fiddle; hiding economic realities with creative accounting and cosmetic measures; equating low interest rates (again) with low inflation; accusing foreigners of weakening the currency; threatening the opposition; continuing the crackdown on free speech and ... Read More »

Fiscal therapy: 12 framing facts and what they mean

The American economy is in great shape in many ways. Riding the cusp of an expansion that started in 2009, the stock market is up, consumer confidence is booming, and unemployment has fallen to historically low levels. William G. Gale Brookings But dig beneath the surface and trouble looms. America faces two distinct but related challenges that policymakers must address in the coming years if they hope to provide a brighter future for the nation and its people. The first ... Read More »

When Socialism Was Tried in America—and Was a Smashing Success

For much of the 20th century, Milwaukee was run by socialists—and Time magazine called it “one of the best-run cities in the U.S.” John Nichols The Nation “If I owned all the real estate in the world, I wouldn’t feel so powerful as I do on the streets of this socialist city,” declared former New York City councilman Baruch Vladeck when he arrived in Milwaukee in 1932 for the Socialist Party’s national convention in that city. Norman Thomas, the famed ... Read More »

Trump Threatens to Blow Up the U.S. Economy

The same dynamics that preceded Trump’s decision to cut off aid to Honduras, El Salvador, and Guatemala are now playing out with his threats to shut down the Mexican border. It all starts on Twitter. Nancy LeTourneau Washington Monthly According to CNN, some members of his administration are warning him that such a move would result in catastrophic consequences, while others are cheering him on. Stephen Miller—more than likely in the latter group—suggests that the president is not bluffing. In ... Read More »

Billions in the Ground: The Race to Harvest North Korea’s Rare Earth Reserves

Recent studies suggest that North Korea could have the world’s largest rare earth elements. Patricia Schouker The National Interest When looking at contemporary geopolitics, often energy and related resource questions are  key in the struggle for influence amongst world powers, as energy can drive or amplify underlying tensions. Today, the attractiveness of traditional oil exploration loses ground with the emergence of new energies and technologies, often produced by “Rare Earths” and the elements they contain. The DPRK could have a ... Read More »

Ocasio-Cortez rails against overpriced croissants at LaGuardia

WASHINGTON — Rep. Alexandria Ocasio-Cortez turned an overpriced croissant into a lesson on the minimum wage. Nikki Schwab New York Post “Croissants at LaGuardia are going for SEVEN DOLLARS A PIECE,” the New York Democrat tweeted Monday morning. “Yet some people think getting a whole hour of personal, dedicated human labor for $15 is too expensive??” She said her point wasn’t that the croissant cost too much. “GOP taking every tweet so earnestly, making my point for me. It’s not an argument ... Read More »

Switzerland to sue Nigeria over seized oil tanker

Authorities in Bern are considering legal proceedings after failed diplomatic efforts to secure the release of a Swiss-flag-carrying oil tanker, blocked in the bay of Biafra for over a year. SWI The San Padre Pio oil tanker, registered with canton Vaud shipping company ABC Maritime, was seized by Nigerian authorities in January 2018, who accused the ship and its crew of violating territorial waters and diesel smuggling. Over a year later, with diplomatic efforts to release the ship proven futile, ... Read More »