Written by: Pranav Krishnan The American-led, liberal-world order has ushered in an era of unprecedented peace and prosperity around the globe. It can not subsist, however, without free and democratic states knowing that they need not take exorbitant measures to arm themselves or align with autocratic powers to preserve their sovereignty. Thus, the United States…
Tag: global economy
Yuan Some Dollars With That?
Written by: Christopher Ploudimis The Chinese yuan is becoming stronger and more widely accepted as a currency. Morgan Stanley predicts that in the next ten years the Chinese yuan will be the world’s third-largest reserve currency, behind the euro and the U.S. dollar. Analysts have been projecting that the yuan will account for five to…
Omicron Will Further Destabilize Civil Society and Economy Worldwide
Written by: Ken Wang Since late 2019, the emergence of COVID-19 has changed much of global life. Although scientists still do not know where the virus originated, China was the first country that took a hit and Wuhan, the city where the first massive outbreak was reported, went into full lockdown overnight. In a matter…
Africa: Made in China
Written by: McKenna Ross China and Africa are two areas of the world that are becoming more linked every day. This is largely because of China’s Belt and Road Initiative which has dramatically increased economic ties between the two. Only now is the world beginning to see the long term effects of China’s spreading influence…
2030: Electric Cars, Peak Oil, and Saudi Arabia’s Future
Written by: Saul Brodkey Soon after the first oil prospecting expeditions seventy years ago, the Arabian peninsula was tipped on its head. Saudi Arabia went from a barren desert kingdom reliant on subsistence agriculture to a bustling oasis with a GDP per capita on par with Canada. The petroleum industry accounts for nearly all exports…
China as the New World Hegemon?
Written by: Gabrielle Toonen As China strives to reach the goal of expanding its empire and power, Americans ask themselves if they should worry. The answer: Yes. In the last two decades, China’s rise to power, starting with their entrance into the World Trade Organization in 2001, began slowly but has escalated into a severe…
Basic Economics: A Look Into What Happened to Venezuela
Written by: Aaditya Kumar Inflation is synonymous with increasing prices, but it also means a decrease in a currency’s purchasing power. Typically a country tries to keep inflation under 10%, but when adverse economic shocks hit, the rates can spiral out of control. A more extreme version of inflation, hyperinflation, is marked by inflation exceeding…
From Rich to Poor
Written by: Pooja Gundimeda Back in 2015, Guyana, a small South American country, was projected to become the Western Hemisphere’s next big oil producer. The world paid attention to this small country when Exxon Mobil announced a significant oil discovery, about 120 miles off its coastline. While drilling, the company encountered more than 90 meters…
Sweden’s Refusal to Issue Stay At Home Orders Leads to Scandinavia’s Highest Number of Coronavirus Cases
Written by: Sophia Halverson In a world where the COVID-19 pandemic has crippled most of Asia, Europe, and the United States and social distancing has become the norm of the day, Swedish government officials have chosen a different path. Unlike their nearby countries Denmark and Norway, which have closed their borders and universities and issued…
No Respite, No Relief: The Toll of Sanctions
Written by: Riley Fink In this post-Cold War world, economic sanctions have in many ways become the weapon of choice for defending American interests and sensibilities. As the coronavirus pandemic rages on, there has been much discussion about how sanctions have impacted the ability of some countries to adequately handle the disaster it has wrought….
The WIRe 