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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
Pelé, Di Stefano, Maradona, Ronaldo, Neymar, Messi: Brazil and Argentina have produced some of the best football players in history — and currently. All the elite Europeans teams have Brazilians and Argentinians in their cast. The national teams are also the biggest rivals in the world’s most popular sport. Together, they have won seven FIFA […] More
