Global Agenda articles from May 2008

Global Agenda archives from May 2008

Ultimate hazard; Marathon training; Death and the long-distance runner.
May 1, 2008... Death and the long-distance runner Monday | Tuesday | Wednesday | Thursday Thursday "PLEASE don't die," an Iraqi friend begs me whenever the subject of the Boston Marathon comes up. Leaving aside the obvious ironies, I...

Russian propaganda, good and bad; Europe.view; Shunning criticism is less good than refuting it.
May 1, 2008... Shunning criticism is less good than refuting it WAS the Orange Revolution of 2004-2005 a sinister western plot? Many Russians, particularly those close to the Kremlin, say so, and a new book called "Orange Webs" tries to confirm that view....

Russia and Georgia rattle sabres; Tension grows between Russia and Georgia over the breakaway region of Abkhazia; Tension grows between Russia and Georgia over the breakaway region of Abkhazia.
May 1, 2008... Tension grows over Abkhazia GEORGIA and Russia agree upon one thing: the situation in the breakaway province of Abkhazia is bad and getting worse. Georgia, an ex-Soviet republic with close links to America, says that Russia is illegally...

Bernanke's bind; The Fed cuts interest rates again; Disentangling the links between the Fed, the falling dollar and the soaring price of commodities.
May 1, 2008... The Fed, the dollar and commodities THE spirit of St Augustine hovered over the Federal Reserve this week. "Oh Lord, let us stop cutting interest rates, but not yet," is pretty much what America's central bankers decided on Wednesday April...

Join the club; Saudi Arabia launches a formal sovereign-wealth fund; Saudi Arabia launches a formal sovereign wealth fund.
May 1, 2008... Saudi Arabia launches a formal sovereign-wealth fund Saudi Arabia has confirmed that it intends to join the sovereign-wealth fund (SWF) club, albeit with a relatively modest initial investment. The Saudi government has taken its time to...

On the brink; America's embattled newspapers; Venerable American newspapers face extinction.
May 1, 2008... Some of America's most venerable newspapers face extinction, unless they evolve THE New York Times once epitomised all that was great about American newspapers; now it symbolises its industry's deep malaise. The Grey Lady's circulation is...

The end; Marathon training; Searing, crippling pain makes it all worthwhile.
May 2, 2008... Searing, crippling pain makes it all worthwhile Monday | Tuesday | Wednesday | Thursday | Friday Friday RACE day dawns pleasantly cool and overcast. My sore throat has miraculously disappeared. I am up at 5:30am to catch a special...

Gloom for Gordon Brown; Britain's ruling party is battered at the polls; Britain's ruling party is battered at the polls.
May 2, 2008... The ruling Labour Party in Britain is battered at the polls. Where next for its troubled prime minister? LOCAL elections in England and Wales, such as those that took place on Thursday May 1st, are generally such complicated affairs, with...

On the brink; America's embattled newspapers; Venerable American newspapers face extinction.
May 2, 2008... Venerable newspapers face extinction THE New York Times once epitomised all that was great about American newspapers; now it symbolises its industry's deep malaise. The Grey Lady's circulation is tumbling, down another 3.9% in the latest...

Bugs in the tank; Tech.view; Fuel's future is in designing, not refining.
May 2, 2008... Fuel's future is in designing, not refining LAST month, your columnist raved about the new generation of lean, clean diesel cars arriving belatedly in America ("Diesel's second coming", April 4th 2008), but wondered where they might find...

Making the grade; Recognition for Brazil's improved economic management; Recognition for Brazil's improved economic management.
May 2, 2008... Brazil gets recognition for improved economic management Investment-grade status, which was awarded to Brazil's foreign-currency-denominated debt on April 30th by Standard & Poor's, one of the main US credit rating agencies, is an...

Gloom for Gordon Brown; Britain's ruling party is battered at the polls; Britain's ruling party is battered at the polls.
May 3, 2008... The Labour Party is battered at the polls LOCAL elections in England and Wales, such as those that took place on Thursday May 1st, are generally such complicated affairs, with contradictory trends visible in different parts of the country,...

The week ahead; Another Democratic primary and other news of the coming week; Another Democratic primary and other news of the coming week.(Hu Jintao begins his trip to Japan)(Russia's new leader is Dmitry Medvedev)(interest rates is expected to change)
May 4, 2008... A Democratic primary and other news * VOTERS in Indiana and North Carolina go to the polls on Tuesday May 6th in the next round of the Democratic presidential nomination process. Hillary Clinton is expected to mop up the support of...

Washington leading the charge; Market.view; The dollar rallies at last.
May 4, 2008... The dollar rallies at last HAS the dollar has turned against the euro and the yen? The American currency has at least bucked the downtrend (see chart). Having hit $1.60 against the euro on April 22nd, the greenback rose to $1.5379 on May...

When will Mugabe get the sack? Zimbabwe's Robert Mugabe lost the presidential election, but will compete in a second round; Zimbabwe's Robert Mugabe lost the presidential election, but will compete in a second round.
May 4, 2008... Robert Mugabe lost the first round NEARLY five weeks after the presidential election, the results have at last come out. According to the electoral commission Morgan Tsvangirai, the challenger, beat Robert Mugabe, the incumbent, but too...

Microsoft throws in the towel; Microsoft gives up on its bid for Yahoo! Microsoft gives up on its bid for Yahoo!
May 4, 2008... The software giant withdraws its bid for Yahoo! THE build up had all the atmosphere of one of boxing's bigger bouts. But three months after Microsoft laid down the challenge, it elected to walk away from its takeover bout for Yahoo!. On...

Take a turn; Art.view; A London art dealer sells up to start afresh.(Niall Hobhouse )
May 5, 2008... A London art dealer sells up to start afresh HADSPEN is a golden Palladian house that sits beneath an escarpment in north Somerset between Wincanton and Castle Cary. It had been in the rich, mercantile Hobhouse family for 200 years when...

Sharing the same dream; Green.view; Paying for Caribbean diversity.(Country overview)
May 5, 2008... Paying for Caribbean diversity TO THE casual visitor to Anguilla, a small island in the Caribbean, the most obviously invasive species is the tourist who arrives from distant lands to enjoy its soft sand and clear seas. Although foreigners...

The challenge in Indiana; Two more Democratic primaries as the race between Barack Obama and Hillary Clinton goes on; Two more Democratic primaries as the race between Barack Obama and Hillary Clinton goes on.
May 5, 2008... Hillary Clinton prepares to lock horns with Barack Obama, yet again ANOTHER Tuesday, another make-or-break primary: or, in this case, two. Democratic voters in Indiana and North Carolina will troop to the polls on Tuesday May 6th for the...

House lights down; Tribeca film festival; What we talk about when we talk about film.
May 5, 2008... What we talk about when we talk about film ROBERT DE NIRO (pictured below, at left) and several other New York cinema luminaries launched the Tribeca Film Festival in 2002. It began as a response to the trauma of September 11 and out of...

The challenge in Indiana; Two more Democratic primaries, as the race between Barack Obama and Hillary Clinton goes on; Two more Democratic primaries as the race between Barack Obama and Hillary Clinton goes on.
May 6, 2008... The Democrats prepare to battle, again ANOTHER Tuesday, another make-or-break primary: or, in this case, two. Democratic voters in Indiana and North Carolina will troop to the polls on Tuesday May 6th for the latest skirmish in the...

Bomb OPEC; Business.view; What's the next dumb economic idea in this race?
May 6, 2008... What's the next dumb economic idea in this race? THE race for the White House has been a depressing experience for anyone foolish enough to have hoped for a rational debate about economic policy. John McCain, who is at least in favour of...

A disaster in Myanmar; A storm kills at least 22,000 people in Myanmar; A storm kills at least 22,000 in Myanmar.
May 6, 2008... A cyclone kills at least 22,000 people JUST a few days before the military dictators who run Myanmar (Burma) were to conduct a bogus referendum to justify a new constitution entrenching their brutal rule, an even worse misfortune has struck...

Confusing the voters; Kuwait prepares for a parliamentary election; Kuwait prepares for a parliamentary election.
May 6, 2008... An intriguing electoral contest in Kuwait Kuwait's unexpected parliamentary election campaign is shaping up to be an intriguing contest, as 350 candidates from various backgrounds seek to form advantageous alliances in an entirely new...

A blossoming relationship? The leaders of China and Japan meet; The leaders of China and Japan meet.
May 6, 2008... Ties between China and Japan are still delicate FIRST came the "ice-breaking", then the "ice-melting". Now, comes the "cherry-blossom viewing", admittedly late in the season. A succession of reciprocal visits by the two countries' leaders...

Eyes on Africa; India's Bharti Airtel may buy South Africa's MTN; India's Bharti Airtel may buy South Africa's MTN.
May 7, 2008... India's Bharti Airtel may buy South Africa's MTN IT WOULD be the biggest thing to pass between India and South Africa since Mahatma Gandhi moved from one country to the other. This week it emerged that Bharti Airtel, the largest...

Blocked in Mexico; Proposals to reform Mexico's oil industry are blocked; Proposals to reform Mexico's oil industry are blocked.
May 7, 2008... Proposals to reform Mexico's oil industry are stalled A series of reforms to Mexico's energy sector, proposed by President Felipe Calderon, have encountered serious stumbling blocks since they were proposed in early April. The president's...

From "War, Inc." to the Peace Train; Tribeca film festival; The film world responds to war in the real world.
May 8, 2008... The film world responds to war in the real world Monday | Tuesday | Wednesday | Thursday Thursday FILM festivals develop their identities over time. Cannes, Berlin and Venice have been honing their attitudes (Mike Figgis calls...

In Obama's grasp; Barack Obama looks all but certain to be the Democratic nominee; Barack Obama looks all but certain to be the Democratic nominee.
May 8, 2008... Barack Obama is nearly there BARACK OBAMA once said that of the three contests in Pennsylvania, North Carolina and Indiana, the last would be the "tie-breaker". He was right. His Democratic presidential rival, Hillary Clinton, won the...

New friends and old; Asia.view; India wants to deal with America, and Iran.
May 8, 2008... India wants to deal with America, and Iran FOR America, India is an annoying ally. Ending decades of mutual mistrust, President George Bush has offered it a close friendship with America, and India's Congress-led government has accepted his...

Molotov cocktail; Europe.view; The end of eastern Europe's honeymoon.
May 8, 2008... The end of eastern Europe's honeymoon SEEN from a German point of view, eastern Europe's disenchantment with the European Union (EU) is both untrue and fantastically offensive. How can the countries of eastern Europe feel betrayed by...

Map of misery; How much further can American house prices fall? How much further can American house prices fall?
May 8, 2008... The house-price bust has a long way to go SOUNDING more like a cartographer than a central banker, Ben Bernanke this week showed off the Federal Reserve's latest gizmo for tracking America's property bust: maps that colour-code price...

Taking the strain; The political fallout from the rising price of food; The political fallout from the rising price of food.
May 8, 2008... The political fallout from the rising cost of food has been manageable--so far WHEN Haiti's prime minister resigned last month after a week of food riots, it seemed to confirm a warning that Bob Zoellick, the president of the World Bank,...

A festival indeed; Tribeca film festival; The world is united. Our correspondent is dizzy.
May 9, 2008... The world is united. Our correspondent is dizzy Monday | Tuesday | Wednesday | Thursday | Friday Friday OVERDOSE is the only way to end a film festival; I've acquitted myself well. Most festivalgoers fly home midweek after an...

Taking the strain; The political fallout from the rising price of food; The political fallout from the rising price of food.
May 9, 2008... Political fallout has been limited--so far WHEN Haiti's prime minister resigned last month after a week of food riots, it seemed to confirm a warning that Bob Zoellick, the president of the World Bank, had given ten days before. He said...

A parade of power in Russia; Vladimir Putin and Dmitry Medvedev share power in Russia; Vladimir Putin and Dmitry Medvedev share power in Russia.
May 9, 2008... Vladimir Putin watches his successor, Dmitry Medvedev, take office during a week of careful choreography IN THE past week tanks, nuclear-bomb carriers and armoured vehicles drove up and down Tversakaya street--Moscow's main drag--and...

Moment of truth; Behind the renewed violence in Lebanon; Behind the renewed violence in Lebanon.
May 10, 2008... An escalation of conflict in Lebanon SINCE Lebanon's fiendishly complex politics polarised into two viciously feuding factions in the aftermath of the July, 2006 war with Israel, observers have predicted a slide into the kind of chaos that...

A parade of power in Russia; Vladimir Putin and Dmitry Medvedev share power in Russia; Vladimir Putin and Dmitry Medvedev share power in Russia.
May 10, 2008... A week of careful choreography IN THE past week tanks, nuclear-bomb carriers and armoured vehicles drove up and down Tversakaya street--Moscow's main drag--and military jets whizzed past your correspondent's kitchen window, scaring...

Torch for a song; Art.view; Trade in Olympic memorabilia is gathering pace.
May 10, 2008... Trade in Olympic memorabilia is gathering pace SHAPED like a paper scroll and patterned with swirling "lucky" clouds, the metal relay torch for the Beijing Olympics could not be more different from those carried in an ancient Greek...

Not so fast; Market.view; Why emerging-market growth isn't always good for investors.
May 11, 2008... Why emerging-market growth isn't always good for investors FASTER economic growth means higher returns for investors. That is a big part of the rationale for investing in emerging markets. The problem with this argument is that it is...

The Economist Intelligence Unit briefing: China and Japan; Relations between China and Japan may be warming, but rivalry persists; Relations between China and Japan may be warming, but rivalry persists.
May 12, 2008... Despite warming relations, rivalry and suspicion persist China and Japan have issued a joint communique emphasising their intention to take a forward-looking and constructive approach to bilateral relations. As a symbol of warming ties...

Double or nothing; Green.view; The uncertain future of emissions trading.
May 12, 2008... The uncertain future of emissions trading THE CARBON EXPO, an annual jamboree for emissions traders which your correspondent visited last week, says a lot about the peculiar state of the business of fighting global warming. Like any trade...

A festival indeed; Tribeca film festival; The world is united. Our correspondent is dizzy.
May 12, 2008... The world is united. Our correspondent is dizzy Monday | Tuesday | Wednesday | Thursday | Friday Friday OVERDOSE is the only way to end a film festival; I've acquitted myself well. Most festivalgoers fly home midweek after an...

Torch for a song; Art.view; Trade in Olympic memorabilia is gathering pace.
May 13, 2008... Trade in Olympic memorabilia is gathering pace SHAPED like a paper scroll and patterned with swirling "lucky" clouds, the metal relay torch for the Beijing Olympics could not be more different from those carried in an ancient Greek...

Fitting the Bill? Business.view; Challenges ahead for Gates Foundation's new CEO.
May 13, 2008... Challenges ahead for Gates Foundation's new CEO CONGRATULATIONS, Jeff Raikes, on your great new job as chief executive of the Bill & Melinda Gates Foundation. And good luck: you will certainly need it. Unlike most other foundation CEO...

Iran's economy; Long delays for Iran's LNG projects; Long delays for Iran's LNG projects.
May 13, 2008... Long delays for Iran's LNG projects The indications that Shell and, most likely, Total will not meet Iran's mid-June deadline for them to commit themselves to going ahead with their long-standing liquefied natural gas (LNG) projects...

Torch for a song; Art.view; Trade in Olympic memorabilia is gathering pace.
May 14, 2008... Trade in Olympic memorabilia is gathering pace SHAPED like a paper scroll and patterned with swirling "lucky" clouds, the metal relay torch for the Beijing Olympics could not be more different from those carried in an ancient Greek...

Don't mention the war; Asia.view; What Hu Jintao's trip to Japan really accomplished.
May 14, 2008... What Hu Jintao's trip to Japan really accomplished THE success of Hu Jintao's five-day trip to Japan, which ended last weekend, appears to have taken officials on both sides by surprise. It was the longest trip to a single country that Mr...

Europe's single currency; Ten years after the decision to launch a single European currency; Ten years after the decision to launch a single European currency.
May 14, 2008... A decade on from the decision to launch the euro Ten years after the EU's historic decision to adopt a single currency, the European Commission has presented a detailed analysis of the euro's experience to date and launched a debate on how...

Prague's silent spring; Europe.view; Budget cuts kill an institution.
May 15, 2008... Budget cuts kill an institution FOR outsiders interested in the ex-communist world, the English-language material produced by the research department of Radio Free Europe/Radio Liberty (RFE/RL) is invaluable. But it will not be available...

Australia's budget; Australia's tax-cutting budget; Australia's tax-cutting budget.
May 15, 2008... Tax cuts in Labor's first budget Australia's Labor government unveiled its first budget on May 13th. The new government's main goals in crafting the budget were to reward the electorate with tax cuts and to keep spending under control in...

From literacy to digiracy; Tech.view; Will reading and writing remain important?
May 16, 2008... Will reading and writing remain important? THE Macintosh has a lot to answer for. The first time your correspondent clapped eyes on its graphical user interface (GUI), he realised the game was up. The use of icons instead of written words...

The pain of inflation; Higher inflation is weakening the currencies of some poorer countries; Higher inflation is weakening the currencies of some poorer countries.
May 16, 2008... Countries with high rates of inflation are seeing their currencies battered After years of looking leniently on countries with inflationary problems, currency markets are now starting to punish some of the most conspicuous failures....

Horns of plenty; Art.view; The rhino gets its due.
May 17, 2008... The rhino gets its due HUNTING for rhinoceros in the 16th century was quite a business. There were no sporting rifles or telescopic sights. Instead the animals, short-sighted and short-fused, were trapped in holes in the forests of Java,...

Bonds. Long bonds. Market.view; Revisiting Greenspan's conundrum.(Alan Greenspan)
May 19, 2008... Revisiting Greenspan's conundrum PERHAPS the "conundrum" has disappeared, at least in one country. Back in 2005, Alan Greenspan, then chairman of the Federal Reserve, used that word to describe the strange behaviour of bond yields. Even...

Green pedicure; Green.view; Footprints in carbon, nitrogen and water.
May 19, 2008... Footprints in carbon, nitrogen and water CARBON footprints have become a widely accepted way to measure and describe humanity's impact on the planet. But in principle, one can work out any kind of footprint. One's turnip footprint would be...

Surprisingly strong, for now; Japan's surprisingly strong economy; Japan's surprisingly strong economy.
May 19, 2008... Japan's economy did unexpectedly well in the first quarter Japan's economy recorded surprisingly strong growth in the first quarter of 2008, according to preliminary government data released on May 16th. Real GDP growth accelerated to 0.8%...

Putting pay on display; Business.view; Shareholders weigh in on executive compensation.
May 20, 2008... Shareholders weigh in on executive compensation THERE are few things on which all three presidential candidates agree, but one of them is that something ought to be done to curb excessive CEO pay. Even John McCain, the candidate of the...

Slowing down; Estonia's economy is slowing sharply; Estonia's economy is slowing sharply.
May 20, 2008... The long years of growth in Estonia may be over Estonia's economy is slowing sharply; after several years of GDP growth at or close to 10%, the rate of expansion this year will be very slow and could even be negative. The property downturn...

Putting pay on display; Business.view; Shareholders weigh in on executive compensation.
May 21, 2008... Shareholders weigh in on executive compensation THERE are few things on which all three presidential candidates agree, but one of them is that something ought to be done to curb excessive CEO pay. Even John McCain, the candidate of the...

Reconstructing Afghanistan.
May 21, 2008... The lessons of earlier Asian nation-building efforts NEARLY seven years after the toppling of the Taliban, Afghanistan's future is still up for grabs. Despite tens of thousands of foreign troops, and billions of dollars in aid, the country...

Telling the Soviet story; Europe.view; A new film about Nazi-Soviet links.
May 22, 2008... A new film about Nazi-Soviet links BEING burnt in effigy on the streets of Moscow by nationalist hoodlums must count as a kind of Oscar if you are a Latvian filmmaker whose aim is to expose modern Russia's blindness to the criminal history...

Stability in Africa; How politics holds back African economic growth; How politics holds back African economic growth.
May 22, 2008... Unpredictable politics is a constraint on African economic growth International organisations continue to minimise the economic impact of political instability Africa. This is unwise. The 2008 African Economic Outlook, prepared by the...

The broadband myth; Tech.view; To what good, these high-speed links?
May 23, 2008... To what good, these high-speed links? IN 1987 Robert Solow, a Nobel Prize-winning economist, famously said: "You can see the computer age everywhere but in the productivity statistics." It was only in 2003 that The Economist felt...

Grain and bear it; The high price of grain is likely to be sustained; The high price of grain is likely to be sustained.
May 23, 2008... Grain prices are likely to remain high In tandem with nearly all commodities, the prices of grains have risen sharply since the beginning of 2007. The increases have been attributed to a number of long-term structural changes in the market...

Klimt of the rubbish bin; Art.view; African artists who craft beauty from what's left behind.
May 24, 2008... African artists who craft beauty from what's left behind AFRICAN contemporary art rarely comes up for sale at the big auction houses. Sotheby's achieved some success in 1999 when it sold a few treasures from Jean Pigozzi, who holds the...

No more pyrotechnics; Green.view; Taming the rock-concert industry's excesses.
May 26, 2008... Taming the rock-concert industry's excesses AS ANY country-music fan knows, Willie Nelson, America's favourite outlaw-troubadour, can't wait to get on the road again. Although he often sings about whiskey, since 2004 his tireless touring...

The wrong ratio; Market.view; Rely on ratios at your peril.
May 27, 2008... Rely on ratios at your peril PLENTY of people believe in owning gold as a safeguard against hyperinflation or financial apocalypse. They see the rise in gold to more than $1000 an ounce earlier this year as signalling the debasement of...

No more pyrotechnics; Green.view; Taming the rock-concert industry's excesses.
May 27, 2008... Taming the rock-concert industry's excesses AS ANY country-music fan knows, Willie Nelson, America's favourite outlaw-troubadour, can't wait to get on the road again. Although he often sings about whiskey, since 2004 his tireless touring...

Picking winners; Business.view; Is it better to choose the horse or the jockey?
May 27, 2008... Is it better to choose the horse or the jockey? "A GREAT management team will find a good opportunity even if they have to make a huge leap from the market they currently occupy." Thus Arthur Rock, a legendary figure in the venture-capital...

An oil saviour? Iraq has the potential to supply much more oil; Iraq has the potential to supply much more oil.
May 27, 2008... Iraq has the potential to supply much more oil The growing concerns in the world energy market about the risks of a supply crunch have been a critical factor behind the recent surge in oil prices to a new record of US$135/barrel....

How Asia shops; Asia.view; Supermarkets versus sentimentalism.
May 28, 2008... Supermarkets versus sentimentalism MANY newcomers to India complain loudly about the inefficiency of the nation's retailers: the poky shops inhabited by sleepy shopkeepers and dusty merchandise. They might be more forgiving if only they...

A fresh start for Lebanon; Lebanon's new president has a challenging task ahead; Lebanon's new president has a challenging task ahead.
May 28, 2008... Lebanon's new president takes office The election of Michel Suleiman, the former army commander, as the new president of Lebanon has been greeted by enthusiastic celebrations within Lebanon and near-unanimous applause from regional and...

Can the EU defend itself? Europe.view; A bit of paranoia is a healthy thing.
May 29, 2008... A bit of paranoia is a healthy thing AS WESTERN countries scramble to deal with Russia's increasingly energetic espionage efforts, their security services are hurriedly rehiring some of the seasoned spycatchers they let go in the past...

Reforms in Italy; Italy's populist government will struggle to bring about reforms; Italy's populist government will struggle to bring about reforms.
May 29, 2008... The populist government will struggle to bring about much-needed changes Following his clear election victory last month, Silvio Berlusconi's right-of-centre coalition will have no excuse for not passing much-needed legislation to lift...

Hard pressed; Tech.view; Traditional printing meets its match.
May 30, 2008... Traditional printing meets its match AFTER 35 years as an ink-stained wretch, your correspondent is used to the racket of printing presses. He has toiled in editorial offices around the globe, listening to their moans and groans as they...

Pumped up; Taiwan's government raises fuel prices; Fuel costs in Taiwan are going up.
May 30, 2008... Taiwan government raises retail fuel prices On May 27th Taiwan's premier, Liu Chao-shiuan, announced that the state-controlled oil refiner and distributor, CPC Corporation, would be allowed to raise petrol and diesel prices, effective from...

Egg and lemon; Art.view; An Irish painter liberated by France.
May 31, 2008... An Irish painter liberated by France CHRISTIE'S British art week brings together some of the most famous artists of the mid-20th century: L.S. Lowry, John Piper, Graham Sutherland and two formidable dames, Barbara Hepworth and Elizabeth...