Word: nationalism
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Citigroup hasn't lost all its muscle. Despite talk of nationalization and speculation that bad loans might soon push the bank into insolvency, Citi's bankers who advise other companies on mergers and acquisitions are having a banner year. Through the first two months of 2009, bankers at Citi were hired to offer guidance on more of the nation's largest deals than any of its rivals, according to Dealogic, which tracks financial activity. Globally, Citi has been a part of four of the six largest deals in 2009. Its biggest score came in January when it was picked...
...Africa than their Western peers, but President Nicolas Sarkozy looks set to eclipse them all in trips to the continent. On Thursday, Sarkozy began his fifth African sojourn in less than three years with a trip to the Democratic Republic of Congo (DRC), a violence-plagued Central African nation that of which most Western officials steer well clear. His goal? To sell his ambitious plan economic cooperation aimed at bring peace to some of the region's embattled countries - and in the process restore French influence in Africa...
...nation was watching as Chen, nicknamed the "Son of Taiwan," walked into the courtroom a much thinner man after more than two months in detention. Chen was known during his eight years in office for irritating China with his open support for a greater Taiwanese independence from the mainland. Taiwan's current President Ma Ying-jeou has moved quickly to forge closer economic ties with China since his election last year. Taiwan and China have since opened up tourism, palace museum exchanges, direct charter flights and are planning to discuss further economic agreements this year. (Read TIME's conversation with...
...mind-set, however natural it may be, that most needs challenging. It does not take any simplistic endorsement of the benefits of economic globalization to understand that we live in an interconnected world. It isn't just goods that move around the planet. The flow of people from one nation to another - people with all their myriad hopes and resentments - has been taking place on a scale never seen before. Prosperity does not solve everything, God knows, but the world will be a safer place if those who have recently escaped poverty are not now told by those who have...
...Brown says, the key issues that the world faces today cannot be dealt with by rich nations acting alone. That is as true of the regulation of global financial markets as it is of the relief of poverty. Climate change cannot be tackled by any one nation, or any group of nations, however rich and powerful they may be; any solution that does not include within its policy parameters India and China is worthless. (Read TIME's special report on The G-20, including an interview with Gordon Brown...