How a Fake Currency War Panicked Global Economies
When Shinzo Abe was elected Japan’s prime minister in December, he immediate announced a $118 billion economic stimulus plan — despite a national debt equal to 200 percent of GDP, the world’s highest ratio. Then he went to the Bank…
Cameron Rolls the Dice on Britain’s EU Future
Let there be no question about Britain. After Prime Minister David Cameron’s speech last week, there is a strong chance that the UK will abandon the European Union. Indeed, if a vote were held tomorrow Britons would choose by a considerable…
Will the US Be Aced Out of A New Asian Alliance?
America’s closest allies in Asia are wasting no time establishing new economic and political alliances that can diminish the role of the U.S. in that region. Both Japan and South Korea are setting their own courses to an extent long…
3 Foreign Hotspots that Will Test Obama’s Mettle
The “four more years” now stretching out in front of our forty-fourth president will be dense with challenges overseas, and meeting them will be essential if America is to regain a competitiveness already slipping. It would be hard to list…
As Asian Economies Grow, American Influence Shrinks
INCHEON, South Korea—Whoever wins the presidential election this week will have to acknowledge that the Asia we forgot about when we started our wars in Afghanistan and Iraq a decade ago is no longer there. The Asia we now purport…
Sanctions Will Turn Iran into Another Cuba
The U.S. and European sanctions imposed on Iran earlier this year seem to be working with a vengeance. As if by remote control, the West has thousands of Iranians taking to the streets while the nation’s political elites are splitting…
U.S. China Policy: Incoherent and Dangerous
The cement is hardly dry on America’s new policy to forge new Asia-Pacific alliances, and already the post–Iraq endeavor is coming across as a collection of incoherent contradictions. Consider: *We say we want to build closer ties with China, but…
Europe’s Juggling Act: Cuts, Tax Hikes, Bailouts
On the face of it, last week did not look like a very good one for Europe—not if you think it is time to push growth as well as fiscal discipline. Just days after Spain announced a $79 billion package…
Will Germany Swallow Inflation to Save the EU?
This weekend’s G-8 summit at Camp David, the U.S. president’s retreat, marks a big step for Europe in several different ways. After a couple of weeks of waffling, German Chancellor Angela Merkel now appears ready to deal on a new…
Will the End of Austerity Break Up the Eurozone?
With the elections in France and Greece Sunday, both supercharged by debt, deficits, and economic desperation, Europe is about to take a dramatic new direction. The eurozone is turning away from stringent austerity policies and toward those that stimulate demand….
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