The Pentagon has begun briefing key allies on plans for advanced weapons technologies aimed at offsetting Russian and Chinese military gains. But the next round of these discussions is on hold awaiting approval of the programs by the Trump administration. Deputy Defense Secretary Robert Work said that he met in early November for “formal collaborations” with close foreign partners ...
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In Brazil, state debt is a ticking time bomb
Brazil’s stand-in president Michel Temer hasn’t had it easy. In the six months he’s been in office — following the suspension and then impeachment of his predecessor Dilma Rousseff for budget crimes — Temer has lost his sixth minister to scandal, stood by while key allies led a shameless assault on Brazil’s anti-corruption efforts, and seen a wan economic ...
Read More »Germany, Japan must carry heavy Trump burden
Next week marks the 75th anniversary of the attack on Pearl Harbor that triggered the U.S. entry into World War II. Now America’s two main antagonists in that war — Germany and Japan — will have to become more prominent defenders of the international order the U.S. built after its victory. President-elect Donald Trump — who adopted the prewar ...
Read More »UAE’s economic growth defies global trend
Contrary to the global trend of economic slowdown, UAE posted a significant economic growth. Country’s vital sectors are growing at a substantial pace. The UAE has taken a major step forward in achieving socio-economic developments. A sustainable, diverse and globally competitive economy is the need of the hour. And this is possible only with participation of citizens, who are ...
Read More »UK industrial strategy bound to backfire
Industrial Strategy is making a comeback. One of Theresa May’s first acts as prime minister was to create a new “Department for Business, Energy and Industrial Strategy.” That may sound impressive, but history is littered with equally well-intentioned but unsuccessful industrial strategies. For every case of success one can find more than one case of failure. Previous attempts at ...
Read More »Taking on McDonald’s in China is a tall order for Citic
McDonald’s Corp. looks like it’s gotten itself a happy meal in China. The consortium purchasing the assets, however, risks a bout of indigestion. The world’s biggest fast-food chain couldn’t have done much better than locking up Citic Group Corp. and Carlyle Group LP as buyers of its franchise in Asia’s largest economy. The $3 billion price tag that’s being ...
Read More »Cuba wanderlust dims as Trump looms
US airlines rejoiced earlier this year when it was announced that commercial flights would resume to Cuba after more than a half century, with one executive at a major carrier calling it almost a “once-in-a-lifetime opportunity.†Yet as service begins this week to Havana, the long-awaited travel surge to the island is already in doubt. Citing weak demand, American ...
Read More »Why Italy matters
Italy may be the next stop on the world’s journey to more economic nationalism. First we had Brexit — Britain’s decision to leave the European Union. Then we had the election of Donald Trump as the next U.S. president, pledging to put “America first” in his policies. Now Italy may be treading down the same path. What’s at issue ...
Read More »In London, Airbnb surprises by being humble
Despite their reputation as argumentative, litigious and impatient with regulation, “sharing economy” companies sometimes voluntarily go along with local rules to avoid even worse regulatory problems. Airbnb announced that, starting next spring, it will follow a directive in London that would make it impossible for hosts to rent out entire houses or apartments for more than 90 days a ...
Read More »Congress can deal with Mattis
President-elect Donald Trump’s intention to nominate James Mattis as secretary of defense places Congress in a bind. Is it duty-bound to reject an obviously well-qualified person for the job? Or would confirming Mattis, a retired four-star general, endanger the nation’s founding tradition of civilian control of the military? The problem is that Mattis retired from the Marines only four ...
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