Word: betweeners
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At the U.N., the language will be ever so polite, but the message now to Beijing could well be: The only thing that may stand between an eventual Israeli air strike and the resulting chaos in the Persian Gulf is you. If you alone veto sanctions against Iran, God help...
Kuwait may be less conservative than Saudi Arabia, but its ban on alcohol is also a major stumbling block to becoming a tourism and professional services hub. Bahrain - another of Dubai's challengers in financial services - has a thriving banking industry and the most ethnically and religiously diverse local population...
Progress will be slow. A recent government reshuffle has moved power away from technocratic experts and outside consultants, and back into the hands of the royal family, especially the crown prince, Sheik Hamdan. But without oil money of its own, Dubai has little choice but to listen to its foreign...
Three other nations on the fringe of the euro zone--Portugal, Ireland and Spain--are caught in the undertow of Greece's crisis. All three have displayed better fiscal behavior than Greece, but they suffer from the same disconnect between their dire local economic conditions and the monetary policymakers in...
Option No. 1 is domestic political suicide, and it might not be smart economics either; slashing government spending and raising taxes during a downturn could worsen that downturn. Option No. 2 seems the best of the lot but has high international political hurdles to surmount. No. 3 would be a...