The global outlook: beware falling objects

The world economy has in the past few years undergone a dramatic shift. Chinese industrial growth – for decades 10 percent or higher – has declined nearly to nil. Global commodity prices have shifted from high to low. At the same time, the U.S. dollar has surged from...

A Turkish turnaround?

Most reasonable people would agree that the administration of Turkish President Recep Tayyip Erdoğan has been heading, alarmingly, towards authoritarianism. Erdoğan has been accused of imprisoning journalists, censoring the media, attempting to exert political...

Is Cuba coming in from the cold?

One of the most extraordinary geopolitical trends of recent years has been what might be called, with apologies to John le Carré, “coming in from the cold.” Many countries that had excluded themselves from the globalization system and maintained an adversarial...

The Emerging Markets Have Emerged

The acquisition of IBM’s PC business by China’s Lenovo was no red herring. The emerging markets have, at long last, emerged. It looks, at first, like just another bubble in emerging equities. Following the acquisition of IBM’s PC business by China’s Lenovo, Chinese...

Microsoft’s kimchi problem

Microsoft’s success in the U.S. market is uncanny and ongoing. But in countries on opposite sides of the world, things sometimes go wrong for the wizards of Redmond. Brazilian authorities have announced plans to convert five federal government ministries from...