Subterms
Fear, in the globalized sense of the word, had largely dissipated ever since the height of the Cold War, when the world stood by as the two superpowers stared each other down with nuclear weapons. Largely absent since the days of brinkmanship seen during the Berlin Airlift and the Cuban Missile Crisis, the world has […] More
Malcolm Turnbull on Donald Trump: ‘You don’t suck up to bullies’ Donald Trump and Malcolm Turnbull meet for the first time onboard the USS Intrepid in New York in May 2017. Photograph: Brendan Smialowski/AFP/Getty Images In this extract from his memoir, the former Australian prime minister recounts his deals and negotiations with the US president […] More
As the global COVID-19 pandemic engulfs the world, the grand strategy of revisionist powers will either falter or accelerate. At the dawn of the post-coronavirus world — whenever it might come — the Chinese Communist Party will push forward with its Belt and Road Initiative (BRI), which will threaten to further marginalize the role of […] More
Other sectors of the world economy may be suffering but the arms industry continues to do a roaring trade, and nowhere more so than in the MENA region. In its annual report released on March 9, the Stockholm International Peace Research Institute (SIPRI), notes a dramatic increase in weapons exports to a part of the world engaged […] More
As COVID-19 continues to impact markets and national and global economies, it is worthwhile noting that Gulf economies were already slowing before the virus hit the region. A comprehensive assessment by London-based Capital Economics, released on February 25 but based on statistics up to the end of December 2019, illustrates that point. (China alerted the World Health Organization on […] More
On February 24, the World Health Organization declared that the world should prepare for a possible coronavirus pandemic. Outbreaks in South Korea, Iran and Italy have caused alarm. Clearly, the virus has traveled widely and rapidly. Authorities have canceled concerts, carnivals and football matches as well as closed schools, imposed curfews and restricted travel. Despite […] More
Seismic risks for the global system are growing, not least worsening US geopolitical rivalries, climate change and now the coronavirus outbreak In my 2010 book, Crisis Economics, I defined financial crises not as the “black swan” events that Nassim Nicholas Taleb described in his eponymous bestseller but as “white swans”. According to Taleb, black swans […] More
Sino-US relations have been a marriage of mutual economic convenience that worked rather well for both countries for several decades. What is commonly referred to as “Chimerica” — where China produces products and purchases American treasury bonds, and the US purchases Chinese products and derives fiscal stability as a result of Beijing’s purchase of a […] More
