Global Business
China and U.S. Realtions Better: Ask the Next Chinese President
Right now Sinologists are scrutinizing who’s up and who’s down in China because the coming succession will signal a profound generational shift. The so-called Fifth Generation of officials, led by Xi, will move up in what’s slated to be the biggest political turnover in the history of the People’s Republic of China.
IMF: Strong-Arming Greece into Solvency
Greece had made a long list of promises in return for emergency help from the IMF and from other European countries, but agency officials increasingly felt they were being taken for a ride. Having extended the country record amounts of money, the agency was in so deep that it could not just walk away. Nor could it continue pouring good money after bad.
China: The Land Of “Female Tycoons”
This is not only because China has more females than any other nation. Many of these extraordinary women rose from nothing, despite living in a traditionally patriarchal society. They are a beguiling advertisement for the New China—bold, entrepreneurial, and tradition-breaking.
Ireland: A Cautionary Tale About “Exuberance”
The country’s initial progress toward returning to markets “could be fragile,” the IMF said in its latest review of the Irish program. It cites a possible future downgrade by credit agencies, a domestic economy in which demand remains weak and a damaging slowdown in exports because of Europe’s regional problems.
Windows “8:” A Radical Departure from Prior Versions
The stakes for Microsoft and the entire computing ecosystem are enormous. This new era is built around tablets as much as traditional laptops and desktops, and multi-touch as much as the keyboard and mouse.
Europe’s Sickness: First Debt, Now High Uemployment
Mass unemployment in Greece and Spain, where nearly half of those under 25 are out of work, sent the jobless rate across the 17-nation eurozone on Thursday to its highest level since the euro was established in 1999.
Tunisia: Trying to Break the “Syrian Impasse”
Tunisia’s president has told a local paper he is ready to offer asylum to Syria’s leader Bashar Assad as part of a negotiated solution to end the Syrian conflict, the paper’s website announced said Tuesday.
What A Scam: Billions in Small Business Contracts, Go to “Big Business”
“It’s really hard for a small company to compete with a company that has 5,000 employees,” said Brian Reeder, communications director for the ASBL. “When bigger companies are actually receiving the contracts, there’s nothing left for small businesses.”
Russia: Trying to Change, While Trying to Stay Exactly the Same
Well-dressed in the freezing cold and toting their smartphones, the newly energized critics of Vladimir Putin have taken to the streets by the tens of thousands since December, streaming from the offices, classrooms and studios of the new Russia. They wave handmade signs with ironic slogans like “We know you want a third time, but we have a headache,” and they wear white ribbons, demanding a political voice and an end to Mr. Putin’s rule
Syria: How Will This End
The Obama administration, under renewed pressure to help end the violence in Syria, is working with allies on a united, international “challenge” to the Assad regime, demanding that Syria stop the siege on the central city of Homs within days and allow immediate medical and humanitarian aid to flow directly to aid agencies trying to help the city’s battered civilians.
EU Fix: Good Enough, Not Great
At their Summit, leaders provided the foundation for a potentially stronger and less imperfect Eurozone. But they did not go far enough in combining the emphasis on fiscal discipline with growth and jobs, together with real institutional robustness. Meanwhile, they opened what could well prove to be quite a destabilizing Pandora’s box.
Greece: Eurozone Extends Another “Lifeline”
Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including €130 billion ($173 billion) in new financing. The finance ministers from the 17 nations that use the euro, known as the Eurogroup, gave Greece the funding it needs to avoid a potential default next month. While this new deal provides some short-term relief for Greece, difficult days lie ahead as the government tries to trim debt to 121% of the country’s gross domestic product by 2020. Greece’s debt now stands at about 160% of GDP.
The Costs of Europe’s Financial Crisis: Keep Going Up
“The challenge Europe faces is within the capacity of the Europeans to manage, and the administration has been clear with our international partners that we are not seeking additional funding for the IMF,” Brainard said in prepared remarks. “IMF resources cannot substitute for a strong and credible European . . . response.”
Cutting A Deal with the “Devil”
Though many of us warned of such a massacre at the start of the uprising, some 11 months ago, the simple truth today is there is no opposition inside or outside Syria that can stop Assad from continuing his murderous ways.
Now Italy, Spain and Portugal Get “Moody’s” Knife
Moody’s Investors Service cut the debt ratings of six European countries including Italy, Spain and Portugal and revised its outlook on the U.K.’s and France’s top Aaa ratings to “negative,” citing Europe’s debt crisis.
Economic Protest Turns Violent in Greece
Greece’s Parliament approved far-reaching spending cuts early Monday in a bid to secure a bailout and stave off bankruptcy, as buildings burned in Athens, set ablaze by furious protesters who fear that European demands to reshape their economy will further exacerbate a crippling recession.
Syria: A Problem for Everyone
Violence in Syria continued Wednesday as military forces and militias supporting President Bashar al-Assad continued their offensive against anti-regime protesters. Heavy shelling was seen for the fifth consecutive day in the western city of Homs, where civilians have said that indiscriminate shelling and roving government gunmen have claimed hundreds of lives.
Greece: Finally a “Deal”
But in a sign of the sheer size of Greece’s challenges, European officials said the measures were not enough to send over the $173 billion bailout, and they insisted more steps be taken even as Greeks say they are reaching their pain limit.
Italian Debt: For Once, A Serious Plan
Italian Prime Minister Mario Monti has slashed pensions, begun a broad economic restructuring and agreed to a European treaty that tightens fiscal controls — all in the name of proving his country is serious about controlling debt.
Greece: Unions Take A “Hardline” and Strike
Greek party leaders face crunch talks on Tuesday to secure a new international bailout and avoid a chaotic debt default, caught between EU demands that they accept painful reforms now and a national strike against more austerity.
