If Japan had did not have enough problems with natural disasters and a rapidly appreciating yen that is making its manufactured products uncompetitive and leading Japanese companies to consider upping stakes and relocating overseas, Japan is now plagued with a major corporate scandal. The scandal involves the Olympus Corporation, a company familiar to photographers, but one […]
ATHENS — The Greek government was plunged into chaos on Tuesday and faced an imminent collapse, as lawmakers rebelled against Prime Minister George Papandreou’s surprise call for a popular referendum on a new debt deal with Greece’s foreign lenders. Such a collapse would not only render the referendum plan moot, it would likely scuttle — […]
In 1974 Henry Kissinger marketed detente with the Soviet Union as a tool for spurring American trade and boosting an economy that had been hit by the post-Yom Kippur war oil price hikes. He encountered resistance in a Democrat-controlled Congress led by Senator Henry Jackson of Washington who sought to tie liberalization of trade with […]
Recent news reports have highlighted Chinese construction of a system of underground tunnels and raised serious questions about what they might imply regarding China’s nuclear capabilities. One story highlighted that the People’s Republic of China (PRC) may have some 3,000 miles of tunnels, sufficient to move systems underground across the breadth of the country. Much […]
Act II of the European Summit is going to take place on Wednesday (Act I concluded on Sunday), when the world will see whether the hints about “progress” in stanching the European debt crisis have a basis in reality. It is now apparent that what Europe had tried to avoid for the past half year, a […]
The Medium Extended Air Defense System (MEADS) took a hit when the German government decided to withdraw its support for the system. MEADS is a ground-based terminal ballistic missile defense (BMD) system developed jointly by the United States, Italy, and Germany. Germany’s step is not surprising. In February, the U.S. Department of Defense decided to […]
Germany is pushing behind the scenes for a “hard” default in Greece with losses of up to 60pc for banks and pension funds, risking a chain-reaction across southern Europe unless credible defences are established first. Officials in Berlin told The Telegraph it is “more likely than not” that investors will suffer fresh losses on holdings […]
by Clare M. Lopez Western liberal democratic civilization is under assault by the forces of shariah Islam. The so-called “Arab Spring” that swept across the Middle East in 2011, while encompassing the hopes and dreams of millions who seek freedom from tyranny, unfortunately has been commandeered for the violent phase of the Islamic Awakening that […]
There is a growing risk that the global economy will move from the ‘Great Recession’ into the ‘Great Stagnation’, according to economists at Goldman Sachs. By Angela Monaghan, Stagnations typically mean long periods of sluggish growth of about 0.5pc, low inflation, rising and sticky unemployment, stagnant house prices, and lower returns on shares, they said. […]
As Turkish representatives announced last week their decision to participate in the European Phased Adaptive Approach (EPAA), the Obama Administration’s plan for missile defense, there seems to be a misconception about EPAA’s capabilities. This week, The Washington Post wrote, “Development of a European missile shield accelerated under the George W. Bush administration. In September 2009, […]
