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MOST RECENT COMMENTARY

Edmund S. Phelps and Saifedean Ammous

The future of capitalism is again a question. Will it survive the ongoing crisis in its current form? If not, will it transform itself or will government take the lead?

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RECENT COMMENTARIES

FEATURED COMMENTARIES

What do Egypt’s Generals Want?

Omar Ashour Series: The World in Words

2012-01-30

One year after Egypt's revolution began, the country's Praetorian rulers are eager for a system in which they maintain their vast economic holdings, legal immunity, and a final say over high politics. But the generals must contend with Islamists in Parliament and pressure from the street, suggesting that a more democratic system is possible.... read

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Demilitarizing Muslim Politics

Shahid Javed Burki Series: The World in Words

2012-01-25

The paramount question in countries as disparate as Egypt, Pakistan, and Turkey is whether Muslim governments can free themselves from their powerful militaries. To do so, they will have to overcome a tradition of governance dating from Islam’s founding in the seventh century.... read

Comments: 1 Recommended: 2 Read: 7283

New Year, Same Crisis

George Soros Series: The New Global Economy

2012-01-25

The measures introduced by the European Central Bank last December have relieved the liquidity problems of European banks, but have not cured the financing disadvantage of the highly indebted member states. Since high-risk premiums on government bonds endanger the capital adequacy of banks, half a solution is not enough.... read

Comments: 5 Recommended: 1 Read: 15932

Asia in the Year of the Dragon

Haruhiko Kuroda Series: The New Global Economy

2012-01-20

This is the year of the “Black Water Dragon,” an astrological cycle that indicates change, but with a measure of calm, sensibility, and prudence. The people and governments of Asia certainly hope that this proves to be the case, but uncertainties – from within and without the region – are growing rapidly.... read

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The Arab Spring’s Balance Sheet

Wadah Khanfar Series: The World in Words

2012-01-18

As the Arab world's old regimes vanish, the region’s entire value system, forged by autocracy, is also being transformed. But, if the Arab Spring fails from lack of external support, the result will not be dictatorships that are loyal to the West, but rather a tsunami of rage that will spare no one.... read

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The Economics of Disaster

Justin Yifu Lin and Apurva Sanghi Series: The New Global Economy

2012-01-13

Exactly two years ago, on January 12, 2010, Haiti was struck by a devastating earthquake that killed more than 220,000 people and shattered the country’s prospects. The lesson of that catastrophe was clear: natural hazards are inevitable, but at every level we have the power to ensure that they do not become unnatural disasters.... read

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Turkey’s Balancing Act

Mohammed Ayoob Series: The World in Words

2012-01-09

A few months ago, many Americans were livid at what they perceived as Turkey’s betrayal, reflected in the country’s deteriorating relations with Israel and improving ties with Iran. But America’s anxiety wrongly assumes that it is a contradiction for Turkey to seek good relations with both the West and the Muslim Middle East.... read

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Global Finance’s Supply-Chain Revolution

Andrew Sheng Series: The New Global Economy

2012-01-05

As the 2008 financial crisis showed, a simple banking system based on collecting retail savings to fund the credit needs of borrowers has evolved into a highly complex – and global – supply chain. To restore trust and adapt to the growing needs of new markets, financial leaders must re-engineer it.... read

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Egypt’s Salafi Challenge

Omar Ashour Series: The World in Words

2012-01-03

The unexpected rise of the Salafis in the first round of Egypt’s parliamentary election has fueled concern that the most populous Sunni Arab country could be on its way to becoming a fundamentalist theocracy akin to Shia Iran. That leaves liberals little alternative but to cooperate with the Muslim Brotherhood.... read

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The End of Population Growth

Sanjeev Sanyal Series: The World in Words

2011-10-30

The UN forecasts that world population will rise to 9.3 billion in 2050 and surpass 10 billion by the end of this century. But such forecasts misrepresent underlying demographic dynamics: The future we face is not one of too much population growth, but too little.... read

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The Fall of the House of Murdoch

Jonathan Schell Series: The World in Words

2011-07-11

The uncomfortable reality underlying the British phone-hacking scandal and its penumbra of corruption and appalling cruelty is that too many people want what Rupert Murdoch's News Corporation is offering. And that means that what too many people want is dangerous to a civilized, law-based society.... read

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How New is Egypt’s “New” Foreign Policy?

Barak Barfi Series: The World in Words

2011-06-08

Egypt's new leaders have signaled a shift in foreign policy by reaching out to former adversaries, including Iran and Hamas. But Saudi interests will continue to weigh heavily on Egyptian foreign policy, which means, above all, preservation of the status quo.... read

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The Tragedy of Trade Blindness

Peter Sutherland Series: The New Global Economy

2011-05-23

The Doha Round of global free-trade negotiations is on the brink of collapse after ten years of talks. That amounts to a tragedy in the making, because the gains available from what has already been agreed are considerable, and would provide a major boost to the global economy.... read

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A No-Fly Zone for Libya

John F. Kerry Series: The World in Words

2011-03-11

The world must take concrete steps now to implement a no-fly zone immediately if Muammar el-Qaddafi starts using his airpower to kill large numbers of Libyan civilians. The US and the world community should also make clear – as in Bosnia and Kosovo – that they are taking a stand against a thug who is killing Muslims.... read

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Libya’s Lord of the Flies

Omar Ashour Series: The World in Words

2011-02-25

Historical rivalries, vendettas, and weapons are widespread among Libya’s tribesmen, which suggests that tribal warfare in the post-Qaddafi era is likely. But signs from Libya’s East, now a “Qaddafi-free” zone, indicate otherwise.... read

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Hamas, Fatah, and the Palestinian Dilemma

Mkhaimar Abusada Series: The World in Words

2010-04-28

In Hamas-controlled Gaza, the high price of armed resistance to Israel has discredited any attempts to revive the conflict, whereas in the Fatah-ruled West Bank, negotiations have gone nowhere. Thus, neither track of Palestinian politics – resistance or negotiation – offers hope of achieving independence, leaving Palestinians to face their most difficult challenge since 1948. ... read

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The Cruelty of Chance

Nina L. Khrushcheva Series: The World in Words

2010-04-13

In Russia, somewhere behind every event lurks the question, Who is to blame? In the tragedy that claimed the lives of Polish President Lech Kaczynski and 95 other Polish leaders, we can say with certainty who the culprit is: history.... read

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Ukrainian Democracy and Its Cynics

Nina L. Khrushcheva Series: The World in Words

2010-02-02

Because Ukraine's Orange Revolution in 2004 turned out to be a seeming unending series of disappointments, most Western leaders are acting as if it makes no difference whether Prime Minister Yuliya Tymoshenko or her rival, Viktor Yanukovich, wins on February 7. They are wrong: a victory for Yanukovich now may be the last free vote Ukraine sees for a long time.... read

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A Chinese Champion of Peace and Freedom	Václav Havel et al
On Christmas Day last year, one of China’s best-known human rights activists, Liu Xiaobo, was condemned to 11 years in prison. For his bravery and clarity of thought about China’s future, Liu deserves the 2010 Nobel Peace Prize.... read
Rescuing Yemen	Mai Yamani
Following Al Qaeda's failed Christmas Day attack on a Detroit-bound airliner, Barack Obama and Gordon Brown jointly proposed a conference in London to propose solutions for the previously overlooked crises in Yemen. But, unless they grasp the fact that Yemen’s problems go well beyond Al Qaeda’s presence in the country, the conference will do more harm than good.... read

The Islamist Identity

Nilüfer Göle Series: The World in Words

2003-09-26

Everywhere you look nowadays, Islam is used (and misused) as a political force. Some Muslims employ it as a call to action; many in the West (and elsewhere) perceive it as an "other" demanding containment and exclusion. As a Turk, I feel both sides of this debate directly. ... read

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Making or Breaking Europe

Ian Davidson Series: The World in Words

2003-09-17

Sweden's thumbs down to the Euro strips bare the fundamental choice now facing Europe. Slowly, very slowly, the European Union is approaching the moment of truth when its members must decide what kind of a Union they want. Do they want a politically integrated Union, perhaps developing eventually into a true federation? Or do they want a loose economic club, based essentially on a single economic market, with a few optional add-ons of a political nature? ... read

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A New World Architecture

George Soros Series: The World in Words

2009-11-04

The world is facing a choice between two fundamentally different forms of organization: internationalist liberal capitalism and authoritarian state capitalism. The former, represented by the United States, has broken down, and the latter, represented by China, is on the rise.... read

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Europe and Asia’s Arms Race

Per Ahlmark Series: The World in Words

2005-03-22

When European unification was launched, it was thought that “ever closer union” would establish a community that would protect Europeans from political blackmail. Now we see – though the lifting of the Union’s arms embargo may now be delayed thanks to US pressure and Chinese aggressiveness – that the European Union has become merely a tool for corruption when France and China draw up joint action plans. ... read

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The Road from Depression

George Soros Series: The New Global Economy

2011-09-29

Financial markets are driving the world towards another Great Depression, with incalculable political consequences. The authorities, particularly in Europe, have lost control of the situation, but, contrary to prevailing wisdom, they can regain it.... read

Comments: 17 Recommended: 1 Read: 53223

A Chinese Champion of Peace and Freedom

Václav Havel et al Series: The World in Words

2010-01-18

On Christmas Day last year, one of China’s best-known human rights activists, Liu Xiaobo, was condemned to 11 years in prison. For his bravery and clarity of thought about China’s future, Liu deserves the 2010 Nobel Peace Prize.... read

Comments: 17 Recommended: 1 Read: 50926

A Summit to the Death

Kevin O'Rourke Series: The New Global Economy

2011-12-09

As many feared and most expected, the just-concluded European summit left much to be desired. Once again, Europe’s national leaders showed themselves to be in denial about what underlies the eurozone’s sovereign-debt crisis, and thus hopelessly unable to resolve it.... read

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China’s Victimization Syndrome

Orville Schell Series: The World in Words

2005-04-22

A contest for China’s soul is now underway in that giant country, pitting two powerful forces and two very different stances toward the outside world against each other. The outcome will have a major impact on whether China succeeds in becoming a nation capable of having truly constructive and durable relations with the outside world. ... read

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Russia’s Economic Imperialism

Vladimer Papava and Frederick Starr Series: The World in Words

2006-01-17

Russia’s use of natural gas to exert economic and political pressure on Ukraine has caused grave concern in the West. But Russia’s pressure on Georgia has been even heavier – and has scarcely been noticed.... read

Comments: 0 Recommended: 0 Read: 44492

Iran’s Nuclear Zealot	Kenneth R. Timmerman
With negotiations over Iran’s nuclear program looming once again, understanding Iran’s new president, Mahmoud Ahmadinejad, is critically important. Perhaps the best place to start is the moment the world first gained a glimpse of Ahmadinejad’s character and hardline program.... read
Securing Synthetic Securities	George Soros
Goldman Sachs, we can be sure, will vigorously contest the civil suit brought against it by the United States Security and Exchange Commission (SEC). But, regardless of the eventual outcome, the case has far-reaching implications for the financial reform legislation that the US Congress is now considering.... read

FEATURED COMMENTARY

The Dollar’s Long Tail
Sanjeev Sanyal
Series: The New Global Economy

Even if China replaces the US as the world’s largest economy within a decade, a global anchor currency can be more resilient than the economic and geopolitical dominance of its country of origin. That is why the dollar will most likely remain the dominant global currency long after the US has been surpassed.

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