On March 5, China announced that it was increasing its defense budget for 2014 by 12.2 percent over the 2013 level, to $131 billion. Analysts and diplomats greeted the news with complaints that Beijing’s disclosures about its military spending are unduly opaque and often low-ball the actual defense budget by not including many weapons programs. […]
Sovereign wealth funds (SWFs) have made progress in improving their accountability and transparency over the last five years, but more can and should be done. That’s the assessment of Dr. Edwin M. (Ted) Truman, a senior fellow at the Peterson Institute for International Economics and former senior Treasury and Federal Reserve official. Truman’s pioneering […]
By a politically divided 5-4 decision, the Supreme Court on Thursday rolled back restrictions on corporate, including foreign interests, spending in U.S. Federal campaigns. The decision could unleash a torrent of corporate-funded attack ads in upcoming elections, and equates the rights of corporations with the rights of individual citizens.
Overview 2009 was all about China. Early in the year, when energy prices crashed due to disappearing demand, oil sank to slightly more than $30 barrel from its mid-2008 high of $147 and natural gas from $14 to around $3 per thousand cubic feet. China, flush with cash, for all practical purposes stabilized the market […]
Remember the fable of the grasshopper and the ant? The ant toils away storing grain for winter, while the grasshopper parties through the summer and dies of starvation in the winter. Something like that is happening in Chile. Chile is the world’s largest copper producer. Like several resource-rich countries — especially those with oil like […]