Asset quality in India’s banks has deteriorated sharply and if not tackled promptly poses a systemic risk to the banking system—and by extension the Indian economy. A high proportion of nonperforming assets (NPAs) steadily erodes the capital base of a bank, impinging on the ability of banks to raise fresh capital and continue lending for investment activities.
Barack Obama has described himself as America’s first Pacific president.
In a February 28 letter to U.S.
Even as doubts grow about Prime Minister Shinzo Abe’s continued commitment to economic reform in Japan, “Abenomics” may suffer another blow on April 1, when the nation’s consumption tax rises from 5 to 8 percent. Critics warn that the tax hike could once again nip Japan’s recovery in the bud, much as the last increase in 1997 is widely viewed to have done.
On March 4, the Defense Department released overviews of its proposed budget for Fiscal Year 2015 (FY15). This is a budget which on one hand complies with the revised Budget Control Act caps for FY15 ($496 billion in base budget spending) and on the other hand tries to illustrate the pain of living under those caps.
The tone and substance of President Barack Obama’s historic visit to Malaysia in late April will have lasting impact not only on an important bilateral relationship, but on U.S. relations with the Association of Southeast Asian Nations (ASEAN) and many countries across the Indo-Pacific. The visit, although short, is long overdue.
Over the last 30 years, the private sector has emerged as an indisputable driver of global development. The prominence of the private sector is no exception in Canada: looking at some of the most significant Canadian industries (e.g., mining and telecommunications), it is clear that a considerable part of Canada’s economic future lies in emerging economies.
Two Chinese think tanks recently declared Beijing “nearly uninhabitable” due to air pollution, the latest in a string of highprofile reports on the capital’s smoggy skies.
The link between economic development and state security has been well documented. As policymakers consider that link, the model for international development in the twenty-first century must include both governments and the private sector.
After months of tension, outbreaks of horrific violence, and political concessions, we have witnessed an extraordinary transformation of Ukraine, as the symbolic Maidan Nezalezhnosti—or Independence Square—has transitioned from protest zone to war zone to uneasy political truce.