[Andrew Sheng] The misbehavior of markets

Before the Global Financial Crisis of 2007, the market was God and the master who made the belief possible, former Federal Reserve Chairman Alan Greenspan, walked on water.  Since the crisis shook belief in financial markets, the new high priests are the European Central Bank President Mario Draghi and Bank of Japan Gov. Kuroda.  They are trying to convince markets that central banks can lift economies from deflation, if not with negative interest rates, but also helicopter money.   But for thos

Sept. 13, 2016

Immigration policy for a post-Brexit Britain

A key demand of Brexit voters was to take back control of the UK’s immigration policy. Prime Minister Theresa May has promised she will -- but hasn’t said what she’ll do with this control once she has it.Many Brexit supporters are hoping for a severely restrictive system. This would be a mistake and May ought to say so. Liberal rules on immigration, exercised at Britain’s discretion, would best serve Britain’s interests.As things stand, the ruling Conservative Party has pledged to bring net migr

Sept. 13, 2016

[Jay Ambrose] 9/11 not over yet

It has been 15 years since 9/11, and yes, the shock has gone, along with flag-waving national unity. But no one who was around then can forget that day, and no one who is around now should forget that we are still faced with insanely barbaric terrorists who want as many more such days as they can contrive.The danger has been played down some lately. Secretary of State John Kerry suggested in a speech that news outlets should maybe tone down their reporting of catastrophic killings around the wor

Sept. 13, 2016

Ferment in the sea

The cordiality of the Association of Southeast Asian Nations summit in Vientiaine hasn’t quite airbrushed the continuing discord between China and the Southeast Asian nations, notably Vietnam, the Philippines, Malaysia, Brunei and Taiwan over the South China Sea. Despite the ruling given by the International Court of Justice at The Hague, the tension over the mastery of the choppy waters might fester for some time yet, going by two developments. China has sent what they call a “coded warning” to

Sept. 12, 2016

Taming North Korea

In conducting yet another nuclear test Friday, North Korea has escalated its confrontation with the rest of the world. The regime celebrated, saying it had made progress in miniaturizing nukes and attaching warheads to missiles. South Korea’s president rightly called it an act of “maniacal recklessness.”It’s clear, if it wasn’t already, that North Korea is no longer just looking for bribes: Its goal is to build a full-fledged nuclear capability. The only prudent response is to harden sanctions i

Sept. 12, 2016

[Dick Meyer] 15 years later, Trump plays to darkest 9/11 fears

Fifteen years later, nothing epitomizes the darkest impulses of America’s political reactions to the disaster of 9/11 than Donald Trump’s presidential campaign. That day spawned many legacies, many currents; some were communitarian and noble, some were predatory and fearful. Trump’s campaign embodies the worst of it all.　After the initial shocks of 9/11 waned, a collective wisdom seemed to emerge that a dark civic response — xenophobia, fear mongering, Big Brotherism and vigilantism — would only

Sept. 12, 2016

[Choi Ho-jin] My grandfather, our twisted hero

There are some good memories and bad memories in our lives, but some bad childhood memories never leave our minds. My worst childhood memory stays somewhere in the corner of my mind and creeps out without warning when I’m alone. This unpleasant guest of mine has changed the way I am and the way I see the world, slowly but steadily. As the memory had gotten blurrier as I grew older, I didn’t realize that it had had a great influence on me. But when I had a drink with my brother about two years ag

Sept. 11, 2016

[Mihir Sharma] Japan's aid needs more imagination

Shinzo Abe’s recent promise of $30 billion in financing to African countries over the next three years shouldn’t have come as a great surprise. Quietly, over decades, Japan has become the leading financier of growth-supporting infrastructure across large swathes of the developing world. Perhaps too quietly.　In fact, few people outside the country appreciate the scope of Japan’s overseas development assistance. In several South and Southeast Asian countries, the country is the largest provider of

Sept. 11, 2016

[Orlando R. Barone] Mother Teresa’s simple, genius business plan

In my consulting work, I have on occasion assisted people intent on creating a startup company. I tell them they must come up with a comprehensive business plan that answers key questions related to the prospects for success in the proposed venture.Some time ago I came upon just such a business plan, remarkable for many reasons, just one of which was the fact that it was written in 1947, well before the advent of many modern business practices. Also, the entrepreneur was a woman.She was already

Sept. 11, 2016

[Mac Margolis] Order and progress remain distant hope for Brazil

Whatever else you may think of fallen Brazilian leader Dilma Rousseff -- fiscal crook or putsch victim -- the end of her accident-prone presidency in an impeachment trial last week offered a glimmer of relief for one of Latin America’s most conflicted nations.Yet even as President Michel Temer touts the new Brazil, as he did at last week’s G20 summit in Hangzhou, China, the more familiar Brazil of shifty politics, backroom maneuvers and legal brinkmanship rears its head.Consider the bizarre conc

Sept. 9, 2016

[Bennett Ramberg] Nukes in civil war zones are risky

The recent failed military coup in Turkey has produced instability, paranoia and a crackdown on the regime’s perceived opponents, including many journalists. Luckily, it did not end with rebel forces seizing some of the dozens of US nuclear weapons stored at Turkey’s Incirlik Air Base, from which rebel aircraft departed. But what about next time?The world’s nine nuclear powers claim that there is little to worry about. They argue that the combination of physical protection and, in most cases, el

Sept. 9, 2016

[Toshiyuki Ito] How capable are North Korea’s subs, missiles?

North Korea has been repeatedly test-firing submarine-launched ballistic missiles. On Aug. 24, an SLBM launched off Sinpo, a city in northeast North Korea, flying for about 500 kilometers. If fully deployed, these missiles pose a serious security threat to Japan, the United States and South Korea.　　North Korea’s SLBM program is steadily progressing. Looking at footage released by North Korea, a missile ignited the moment it cleared the water and flew smoothly. This was the most difficult part, a

Sept. 8, 2016

[Kuldip Nayar] Listening to Kashmiri youth

India’s Interior Minister Rajnath Singh has met around 300 people in Srinagar. Pakistan, too, has offered to have talks on Kashmir. Both steps, however laudable, are late by two to three years. The Kashmiris then wanted a settlement through a dialogue. Leaders like Yasin Malik and Shabbir Shah took part in the conclaves held at Srinagar and New Delhi.　The issue at that time was to make New Delhi realize that the state had acceded to the Union of India only on three subjects: defense, foreign aff

Sept. 8, 2016

Davao tragedy

We must not lose sight of the central, crucial, fact: 14 persons died and 67 others were wounded in the Davao explosion late Friday night. All of the victims were innocents, out to enjoy the city’s popular night market. In the wake of inevitable speculation and confusion, it is important that we focus on the plight of the victims and support the city’s immediate and valiant efforts to bury the dead with dignity, ease the pain of the survivors and pursue justice.　Much still remains to be determin

Sept. 8, 2016

Developing new missiles helps prevent China’s provocations

Japan‘s Defense Ministry has allocated 5.1 trillion yen ($50 billion) in a budgetary request for fiscal 2017, up 2.3 percent from this fiscal year’s initial request. Against the backdrop of military buildups in both China and North Korea, seeking such a spending increase for the fifth straight year is reasonable. 　Chinese military activity, including naval forays into the contiguous zone around the Senkaku Islands, has been surging. Placing an emphasis on reinforcing Japan’s defense of remote is

Sept. 8, 2016