Russia dwindled from its superpower status on the world stage following the dissolution of the Soviet Union in 1991. Ever since, Russia has been embroiled in a battle with the Western world to restore its global image as a superpower. On several fronts, Russia has been pursuing both domestic and foreign policies to restore its […]
Secretary of State Hillary Clinton and US Treasury Secretary Tim Geithner play host this week to the third round of a newly formed bi-lateral talks between the US and China. This is the first time the so-called US-China Strategic and Economic Dialogue (SE&D) is being held in the US. The purpose of the talks, Geithner said in his opening comments on Monday, is to look for opportunities to build closer economic ties between the World’s two leading economic powers.
Continuing coverage on the Rise of State-sponsored Capitalism” href=”http://globaleconomy.foreignpolicyblogs.com/2009/05/09/the-rise-of-state-sponsored-capitalism/” target=”_blank”>I’ve written about frequently here in my Global Markets blog — namely the Chinese state’s spin on capitalism. Though there were many critics early on — and still are in many quarters — who argued that China’s state-managed version of capitalism was unsustainable, it seems the long-term sustainability of so-called ‘State Capitalism‘ has been proven, and is even gathering steam in unlikely places — India, Cuba, Vietnam and the Middle-East to name a few — with great success. It’s a trend that Western financial centers should be attuned to, nor should it be dismissed as the global financial architecture continues to evolve following the global financial crisis.
In a display of the increasing role that financial, trade and economic policy holds in US foreign policy, President Obama in the first leg of his Asian tour announced a host of new trade deals with India supporting tens of thousands of US jobs as he began a 10-day trip through Asia — demonstrating the importance of global trade to the sluggish US economy.
A rising chorus of central bank policy-makers in emerging market nations criticized the Federal Reserve on Thursday for its decision to pump more money into the U.S. economy – a monetary policy known as Quantitative Easing – a measure that they fear could escalate the worrisome influx of cash into fast-growing economies around the world.
On Vladimir Putin’s first visit to Venezuela, the Russian Prime Minister has offered to help Venezuela set up its own space industry infrastructure and capabilities — including, importantly, a satellite launch site – for the South American nation, thus threatening US Western hemisphere hegemony.
In the movie ‘War of the Roses’ debt and finances were one of the central factors and most disruptive of issues in the relationship between the two characters, and the ensuing all-out war during their divorce, and inevitably, in their annihilation of each other. Believe it or not, nations act in the same manner toward each other.
Financial markets continue to be roiled this week over fears that a European debt crisis could derail the global recovery. Investors are spooked by the debt problem in Greece – a possible precursor of what may happen in the U.S. Investors fear Greece may default on its sovereign debt, or require a bailout from already strapped European governments. Those concerns are spreading to other financially troubled governments in Europe.
The Obama administration on Monday unveiled its plans for a fresh assault on international tax cheats that officials say will help reduce the Federal budget deficit from a record $1.5 Trillion this year. President Obama also announced the Fiscal Year 2011 Budget will make critical investments in job creation and continued economic recovery, while bringing a new level of responsibility to how tax dollars are spent.
By a politically divided 5-4 decision, the Supreme Court on Thursday rolled back restrictions on corporate, including foreign interests, spending in U.S. Federal campaigns. The decision could unleash a torrent of corporate-funded attack ads in upcoming elections, and equates the rights of corporations with the rights of individual citizens.
Wrap-up of Davos World Economic Forum 2010, from FT’s Money Supply blog.
The deeply insidious influences of French, American and other European allies long history of imposing trade embargoes, economic isolation and financial dependence on Haiti after its 1791 slave revolt lies at the very center of why the island nation continues in its economic dysfunction to this day.
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