On Wednesday, the Philippine government said that it had created a new task force to coordinate its policy on the South China Sea – which Manila calls the West Philippine Sea – amid rising tensions with China and ahead of a verdict on a case which it has filed against Beijing. According to a document issued by the presidential office …
Read More »Opinion
Virgin America’s happy vision just can’t compete
Travellers love Virgin America, the hip, mood-lit airline backed by Richard Branson. And why not? The self-described “low-fare, upscale†carrier promises passengers that they don’t need to accept the dismal nickel-and-dime, fee- for-everything flying experience offered by the competition. Instead, fly Virgin and you can have it all — legroom and the cheap ticket. Unfortunately, telling customers they can have …
Read More »Belgium, my country, has been living in denial
Jean-Michel Paul There was a time when Belgium was at Europe’s vanguard. It was the second country in the world to industrialize, the founder of art deco and surrealism, and a producer of Nobel scientists who discovered — among other things — the God particle. I was born and bred in this country, but I fear we are now trailblazing …
Read More »Inflating asset bubbles spread like a zombie virus
The leading academic theory of asset bubbles is that they don’t really exist. When asset prices skyrocket, say mainstream theorists, it might mean that some piece of news makes rational investors realize that fundamental values like corporate earnings are going to be a lot higher than anyone had expected. Or perhaps some condition in the economy might make investors suddenly …
Read More »The biggest cyber heist ever?
It’s a big story that has stayed beneath the radar of most American media. Somehow, cyber criminals stole $81 million from Bangladesh’s central bank (its Federal Reserve). The theft surely qualifies as one of the biggest cyber heists ever. It’s also a reminder that the world’s financial systems remain vulnerable to cyberattacks from groups or countries more interested in making …
Read More »Economic incentives must for e-waste collectors
From arsenic and lead to mercury and cadmium, discarded electronic gadgets generate hazardous waste that can be fatal. To tackle the health and environment threats these pose, many countries have put laws into place. Singapore and the Scandinavian countries are showing the way. India is the newest member to join the ‘Safe E-Waste Disposal’ club. It has proposed rules that …
Read More »Why investors face roller-coaster markets
Risk assets such as stocks, corporate bonds and bank loans have been trading in a wide and volatile range, taking investors on a roller-coaster ride up and down, including most recently a rally of about 10 percent in U.S. equity markets. This phenomenon is likely to continue in the short-term, so here are eight characteristics of this financial environment: Pronounced …
Read More »Scientists keep complicated life simple
Astronomer Fred Hoyle famously quipped in 1982 that the odds of a simple living thing assembling itself from inanimate chemicals were as slim as the chance that a tornado passing through a junkyard would leave in its wake a Boeing 747. The statement reflects the 20th-century understanding that even pond scum was composed of cells of mind-boggling complexity. Today biologists …
Read More »US faces a security assistance dilemma in Central Asia
Technically speaking, the U.S. State Department is the foreign policy arm of the United States. But increasingly, the U.S. Defense Department has taken a leading role in conducting foreign policy on its own: primarily through providing security assistance to countries around the world, sometimes contrary to State’s recommendations. This will come as no surprise to Central Asia watchers, who have …
Read More »China’s global food quest
After spending hundreds of billions of dollars over the past two decades acquiring oil, natural gas, coal and other mineral resources around the global, food-related sectors are becoming the new favorite of China’s overseas investment. It is estimated that over the past five years, China’s overseas food-related M&A topped $20 billion. This includes Shuanghui International’s $4.7 billion takeover of American …
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