China has often been accused of practicing “debt-trap diplomacy”—miring supposed partners, particularly developing countries, in unsustainable debt-based relationships. But this is a misreading of the issue, and nowhere is this more apparent than in China’s dealings with Venezuela.
In light of the fierce technology-fueled geopolitical battles being waged on the world stage today, it is time to examine how technology facilitated imperialism at the turn of the 20th century. Specifically, in Southeast Asia, the Dutch and the British used telegraphs, lighthouses, and more as instruments of empire.
Neither scientific progress nor its ability to move society forward is guaranteed. That Earth revolves around the sun seems obvious to us now, but this conclusion came about over 1000 years, taking varying paths in China and Europe. The history of astronomy in these two regions shows us how important political systems are to scientific development.
For innovation to serve everyone in emerging economies, it must go beyond the relentless pursuit of the cutting edge. Focusing more on the needs of the majority of Asian emerging market consumers will lead to more sustainable, lasting growth.
Many of the earliest of the great civilizations on Earth were centered on life-giving rivers, such as the Yangtze and the Euphrates, the Nile and the Indus. Rivers remain crucial to modern societies, but pollution is choking the life out of them. For humanity’s sake, governments must act to counter this. The good news is that they already have the tools.
Governments come and go. A country's vision or strategy tries to tie these governments' policies together to tell a story about how a country will progress economically, culturally, and socially. Auditors play a key, if little understood role, in these strategies' success. More of these plans, and the centers of government that oversee them, should be audited. Public audit reports can also attract research and practical interest in these plans' successes and failures.
Corruption has long been a prominent problem in the Asia-Pacific, but many countries have seemingly lacked the will to combat it. Until measures are enacted to increase transparency and accountability in governance, corruption will continue to gnaw away at economic gains.
The fashion industry's supply chain no longer meets the expectations of society and business stakeholders. More digitalization promises to bring more efficiency and transparency. But fashion factories must also foster an open culture that encourages learning and that engages workers in the process.
China’s Belt and Road Initiative seems to focus on connections with Africa, Central Asia, and Eastern Europe. But the country’s economic future is really in “netware” technology, similar to America’s. Contrary to how BRI is viewed and talked about now, China’s more profitable path actually points, as illuminated by the likes of Alibaba and Tencent, eastward to California.
Businesses also incur massive human and economic costs during natural disasters. They can reduce these costs by diversifying geographically and technologically.
Globalization is not just dominated by big brands. Low-cost knock-offs of popular items such as mobile phones also cross the globe, often from China to the rest of the world. Although it operates below the radar, this trade powers growth.
Nearly 10% of stock market investors trade as if they are gambling. This leads to more trades and more money on the market, but yields much lower returns for the investors. We should acknowledge this behavior and boost financial education and risk assessment, rather than assuming that investors are perfectly rational.
Technology is transforming epidemiology. However, algorithms, satellites, and drones offer no easy solution. Ethical and political issues need to be considered to ensure that everyone reaps the benefits of these new technologies.
The documentary “The China Hustle” exposes fraudulent transnational listings that are costing millions of investors billions of dollars. How can stock markets around the world combat this major threat to the global economy? The answer may lie in extraterritoriality.
The world is once again in dismay after the use of chemical weapons was reported in Douma. In response, the U.S. struck, together with the UK and France, chemical weapons facilities in Syria on April 13 and 14. The stated purpose was to uphold international law, but the action could have far-reaching—and destabilizing—consequences.
In tandem with China’s rise, America's geopolitical predominance in Asia has been waning, and this decline in influence has accelerated under the presidency of Donald Trump. Looking further ahead, however, it is not obvious that this "new normal" will be sustained in light of America’s deep economic and security interests in Asia and China’s fundamental fragilities.