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...world's nuclear standoff with Iran is ratcheting ever upward. On Feb. 8, Iranian President Mahmoud Ahmadinejad (no diplomat he) matter-of-factly announced that Iran would soon begin enriching uranium for use in a "medical reactor." That means China will have to answer the central question that confronts it, which was embedded within Yang's diplo-speak: What actually is China's long-term interest in Iran? (See the top 10 Ahmadinejad-isms...
Other countries in the gulf are spinning the same line: cherry-picking the best of Dubai while avoiding the worst. Saudi Arabia, the region's behemoth, has ambitious plans for new development, and Riyadh, its capital and biggest city, is bound to host the central bank for a proposed future gulf single currency. But for all its shopping malls and skyscrapers, Riyadh will never be the region's financial center so long as there is no place for investment bankers to celebrate their deals by popping champagne corks. Most global professionals don't want to live in a country where...
Unusually heavy rains that began Feb. 3 have caused floods in the Mexican state of Michoacán, on the central Pacific coast, and in Mexico City, the nation's capital. At least 40 people have died; a dozen others were missing after a mudslide covered a busy highway. More than 3,000 homes near the capital were flooded, leaving some residents homeless as further rainstorms threatened to approach the area...
...reality was more complicated. Greece now had a solid currency--but it wasn't Greece's currency. The euro was managed by monetary wonks at the European Central Bank in Frankfurt for whom the Greek economy was but a blip. And the decision makers in Athens with responsibility for fiscal policy continued to blunder. The country kept running big deficits in the boom years. Then came the Great Recession. Last fall, a new government revealed that the 2009 budget deficit was much higher than previously disclosed--nearly 13% of GDP. Ever since, the world's financial markets have been going...
...Bellerive can at least be refreshingly blunt. For all his dreams about an agri-boom on Haiti's central plateau, he's quick to note that "our goal at the moment isn't to escape poverty. It's to escape misery so we can get back to poverty." Haitians like Marie Chantal would agree: they'd gladly take back their lives of poverty - with at least lace curtains in the windows - than face the misery raining down on them...