Saudi Arabia’s royals are readying a revolution from above
The heir to Saudi Arabia’s throne wants to diversify the kingdom’s oil-based economy and make it one of the 15 biggest in the world. As Crown Prince Mohammed bin Salman lines up funding for his project, many wonder if the monarchy is ready for reforms that are nearly certain to upset its social and political order. Can a mostly tribal population and an entrenched religious establishment be dragged into modernity by royal order?
Argentina: Macri yet to score on economic reform
The government of Argentina can chalk up its first modest successes in improving a badly distorted economy. But the peso’s recent bad run against the dollar has signaled there are limitations to President Macri’s play it by ear, gradualist approach to reforms.
Mexico’s future in the balance
Mexican President Enrique Pena Nieto has astutely managed the threats to his country posed by the new administration in Washington. Even so, the progress that he has made on key domestic fronts may prove too modest to defeat the left-wing challenge from Andres Manuel Lopez Obrador during next year’s elections.
GIS Dossier: Modi’s India
Prime Minister Narendra Modi has harnessed identity politics to shake up India’s inefficient economy and turn it into a global player. At home and abroad, he has proved an adept operator. Geopolitically, Mr. Modi’s most important move is an increasingly obvious realignment with the U.S., as part of a long-term strategy to counter China’s bid for hegemony in Asia.
A Europe of regions will be essential for the union’s future
At this historic juncture, leaders of the European Union should awaken to the fact that Europe’s strength has always been its common cultural heritage and its diversity. The way out of the EU’s current bind is through expanding regional cooperation and replacing centralistic, market-strangling regulations with robust, friendly competition.
Global Trends: China tightens up as its economy falters
If you thought that the crisis facing China’s equity and currency markets – so evident last summer – was over, renewed turmoil in the first weeks of 2016 shows that there is still a long way to go, writes GIS Guest Expert Nick Fielding. Government support has helped slow the price collapse, and there have even been some scattered signs of stabilization in real esta...
Global trends: Latin America seeks growth as leaders straggle
Latin America has reached an inflection point. Recent developments suggest that parts of the region will make significant economic strides over the next few years. However, its two biggest economies – Brazil and Mexico – are stuck in the doldrums, and their politics may be in even worse shape. <i>This report is par...
Argentina weighs up energy price adjustment
Argentine President Mauricio Macri must cope with an energy sector in dire straits. Policy over the past decade has been inconsistent and often counterproductive. Subsidies weigh heavily on public finances. However, reforming the hydrocarbon extraction and refining industries should prove far easier politically than solving the country’s challenges in electricity p...
Global trends: India’s all-out push for economic growth
The government of India’s Prime Minister Narendra Modi is going into 2016 with two principal policy objectives. One will be implementing the economic reforms that he has promised to foreign investors. Such reforms are considered crucial to industrialization and further accelerating India’s growth, which currently clocks in at a respectable 7 percent rate. The other...