Gordon Brown's Financial Shock and Awe
November 10, 2009
There are two broad views on our newly resurgent global bubbles--the increase in asset prices in emerging markets, fuelled by capital inflows, with all the associated bells and whistles (including dollar depreciation). These run-ups in stock market values and real estate prices are either benign or the beginnings of a major new malignancy. The benign view, implicit in Secretary Geithner’s position at the G20 meeting last weekend, is most clearly articulated by Frederic (Ric) Mishkin, former member of the Fed’s Board of Governors and author of "The Next Great Globalization: How Disadvantaged N
And The World's Third-Largest Carbon Polluter Is...
October 27, 2009
It's well-known that the United States and China are the two biggest greenhouse-gas polluters in the world. But relatively few people can name number three on that list. It's Indonesia, thanks to heavy deforestation: It is that frenzied rate of deforestation that has propelled Indonesia, home to 237 million people, into its top-three spot in the global league table of climate change villains.
The TNR Q&A: Michael Shifter
September 18, 2009
Tensions are rising across South America this month as Venezuela signed three oil deals with Iran and a 2-billion-dollar arms deal with Russia, causing U.S. Secretary of State Hillary Clinton to speculate about a possible arms race. The Venezuelans, along with Bolivia and Ecuador, have responded by pointing to a new U.S. agreement with Colombia to make use of six military bases in the country. A meeting Tuesday of UNASUR, a group of 12 South American nations, ended without any plan or agreement to deal with escalating tension in the region.
The Next Financial Crisis
September 08, 2009
It's coming—and we just made it worse.
The World is Bumpy
July 15, 2009
On innumerable trips to Singapore over the past decade, I always made sure to stop by the Old Tanglin Officers' Mess, the city-state's version of the State Department. There, amid a street of gleaming colonial-style buildings and perfectly trimmed tropical foliage, the best diplomats in Asia--fluent English- speakers with a staggering command of regional politics and sharply tailored suits--would entertain me at the after-work bar.
The Case Against The G8
July 08, 2009
The G7 was originally conceived as a form of steering committee for the world economy (antecedents). Existing formal governance mechanisms, around the IMF and the UN, seemed too cumbersome (and too inclusive) during the 1970s, with the breakdown of fixed exchange rates, assorted oil shocks, and the broader shift of economic initiative towards Western Europe and Japan. And the G7 had some significant moments, particularly with regard to moving exchange rates in the 1980s. More broadly, behind the scenes, it served as a communication mechanism between the world's largest economies ("coordinatio
New York Postcard
October 23, 2006
The DiTomasso brothers may not have much in common with George W. Bush, but there's one thing the president and the mob-linked contractors share: Both have reason to rue the day they met Bernard B. Kerik. In 2004, Bush nominated Mayor Rudy Giuliani's former police commissioner to head the Department of Homeland Security (DHS). Within days, allegations surfaced that Kerik had faced arrest for unpaid bills, had close ties to some federal contractors, and had failed to pay taxes on his nanny. The nomination collapsed, calling the White House's judgment into question.
June 19, 2006
This article was adapted from The Thinking Fan's Guide to the World Cup. There have been revolutions to create socialism, democracy, and authoritarian dictatorship. But humankind has yet to fight a revolution to guarantee one of the most vital elements--if not the most vital element--of the good life. That is, a winning soccer team. If we were to take up arms for this reason, what kind of government would we want to install? Political theory, for all its talk about equality and virtue, has strangely evaded this question.
June 30, 2003
Although President Bush has pledged $15 billion to fight global AIDS over the next ten years--an impressively generous sum, assuming his tax cuts don't swallow up the money before it's spent--he clings to a very specific idea about how AIDS-prevention money should be spent: on teaching abstinence. That's why he and his supporters constantly talk up the success of Uganda. Ten years ago, 15 percent of the country's population had AIDS. Today, just 5 percent do. And a major reason for the drop is an AIDS program that conforms to White House notions of propriety.
Birds and Others
April 21, 2003
The statistics are staggering. Winged Migration, a French documentary about birds in flight, took four years to make. It employed, as it proceeded, a total crew of four hundred fifty. It was shot in a global variety of places-or over them, rather-to capture the four principal migration routes: those used by North American birds, European and Asian birds, Asian birds, and Southeast Asian birds. Needed for the cinematography were gliders and model gliders, helicopters and model ones, light motorized aircraft, and balloons.