By the time Obama was inaugurated, he had promised so much, there was a risk that he could only disappoint. Let’s not get too carried away in these tough times, but there is some much needed good news: perfect his administration is not, but the first signs in foreign policy are far from negative. This extended post surveys the key issues. Continue reading
China
G-20 outcomes and winners
Thursday’s G-20 summit communique was followed by an immediate hailstorm of judgements. The term “new world order” has been used more than once, which in principle is not out of order when the leaders of countries responsible for 90 per cent of world output are gathered together, and you know there is some kind of success when major world leaders queue up to claim the credit. Continue reading
G-20 tension doesn’t mount
Were it not for the death of a demonstrator and injuries to police and public, it would be possible to treat the whole G-20 summit with the humour that its theatricality demands. For putting events on the streets of London to one side, this is indeed an occasion for powerful actors to strut their stuff. Continue reading
How green is our valley?
Not outstandingly green by international standards – more a sludgy grey brown. A comparison of the green content of several governments’ bail-out and stimulus packages shows South Korea devoting 80 per cent of the extra finance to green investment and activity, while China notches up 37 and the UK is at a lowly 6 per cent. Continue reading
The economic crisis and world power
Moments in history when the world power balance has shifted decisively – or when the result of a slowly accumulating shift has been revealed to general view – have usually been related to war, economic crisis, or both in tandem. Is today’s combination of economic crunch and the wars in Iraq and Afghanistan such a moment for the US? And if so, who gains – China? Continue reading
The fog of uncertainty in a manic economic depression
In an interview published on 30 August last year, UK Chancellor of the Exchequer (Finance Minister) Alistair Darling revealed his view that the economic downturn was “arguably the worst” in 60 years. He was quickly dumped on for talking down the economy and the underlying analysis was gleefully trashed. Grim prospects, The Economist acknowledged, “But the worst outlook in six decades? Nonsense.” Perhaps Darling does not seem so nonsensical today, now that the economic depression is turning manic. Continue reading
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