[John Shattuck] Terrorists and refugee battleground

BUDAPEST — Europe and the United States should open their doors to Syrian and Iraqi refugees. They are the victims of the Islamic State and Syrian President Bashar al-Assad’s brutal regime. Terrorism has destroyed their homelands. Not only is offering them refuge the right thing to do; it is also good for our security.　The Islamic State’s attacks in Paris in November were designed to produce fear by bringing the group’s crimes against humanity into the heart of Europe; and politicians, by equati

Dec. 3, 2015

More representative and robust SDR benefits all

A better internationalized Chinese currency and a more representative special drawing rights will definitely help deliver better economic and financial performance within and beyond China in the long run. 　The International Monetary Fund’s decision on Nov. 30 to include the renminbi in its SDR reserve currency basket from October next year ushers in a new era for the Chinese currency and the SDR.  　The renminbi joining the U.S. dollar, the euro, the pound and the yen in the SDR basket is signifi

Dec. 3, 2015

Airpocalypse now in China

With many of Beijing’s iconic and cultural landmarks erased by heavy, acrid smog on Dec. 1, the city’s residents lit up the Internet in a bid to commiserate with fellow sufferers, while others more enterprising found business opportunities under the murky skies. 　Some netizens turned to dark humor and satire to lighten the gloom of the city‘s worst pollution on record this year, while others expressed anger, frustration, cynicism and even resignation at the latest “Airpocalypse” to hit the city.

Dec. 3, 2015

China’s foray into aviation - sky is the limit

The Commercial Aircraft Corp. of China rolled out its first domestically built large passenger aircraft on Nov. 2. Called the Comac C919, the airliner will have to undergo tests before its first flight takes off next year.  　Experts see the rollout as China’s attempt to enter the booming global aviation industry and reduce dependence on Airbus and Boeing. Li Jiaxiang, the country’s civil aviation chief, said, “China’s air transport industry cannot completely rely on imports. A great nation must

Dec. 3, 2015

China’s steel mills need to shrink

In the space of 30 years, China has become the world’s largest steelmaker by a long margin. Decades of rapid economic growth fed huge demand for infrastructure and housing, all of which required massive volumes of steel. As the Chinese economy slows, however, all that capacity is proving a burden both economically and environmentally. Chinese steelmakers churned out 822 million tons of steel last year, losing an average of $50 on every ton. Meanwhile, their outmoded, polluting plants account for

Dec. 3, 2015

Putin takes ineffectual aim at Turkey

President Vladimir Putin is so angry with President Recep Tayyip Erdogan of Turkey that he won’t talk to him on the phone or meet with him at the United Nations climate talks in Paris. But Putin can’t do much to hurt Erdogan or his country; he can only make life a little more difficult for Russians. 　Putin has demanded an apology and compensation from Turkey for shooting down a Russian bomber that had strayed into its airspace. Erdogan wants Russia to apologize. The war of words, waged through t

Dec. 2, 2015

America’s optimism gap: It’s not what you think

Whether it’s myth, mush or gospel truth, optimism — the can-do spirit — has always been a core trait in the American “brand.” In this Thanksgiving season, however, the menu of who is feeling thankful and hopeful and who isn’t is unusual.　A recent NBC News/Wall Street Journal poll tried to get at Americans’ feelings about the future. Among the questions were ones basically asking people if they were feeling “cautiously optimistic” about the direction of the country or if they had a sense of “unea

Dec. 2, 2015

[Edward Niedermeyer] Europe chokes on vehicle emissions testing

The Volkswagen diesel emissions scandal might have started in the U.S., but it’s becoming clear that the controversy has opened far deeper wounds in Europe. Though the European Union is known for its strict vehicle carbon dioxide emissions standards, the Volkswagen ordeal — which centers on nitrogen oxides (NOx), a hazardous type of diesel pollutant — has revealed profound weaknesses in the EU’s entire regulatory system. With millions of diesel vehicles on the road across Europe, the stakes are

Dec. 1, 2015

[Glenn Hubbard] A future-oriented fiscal policy for U.S.

At last, Republican candidates in the U.S. presidential campaign have begun focusing on the economy. At a time of rising anxiety among middle-income voters about wealth inequality, and growing awareness of the unsustainability of Social Security and Medicare, this conversation could not be more important. Unfortunately, not enough attention is being paid to the link between these two key issues.　In fact, tackling the problems with Social Security and Medicare is the key to addressing what ails t

Dec. 1, 2015

[Dan Thomasson] Will voters tire of Trump’s outrageous rhetoric?

Apparently, Donald Trump’s Republican fans don’t mind what he says or how he says it. They love him anyway.　Mr. Outrageous is writing an entirely new handbook on political insensitivity, often in graphic language. In doing so he is throwing out all the rules on intemperate remarks by slandering cultures, religions and people. The anti-Catholic rhetoric of “Rum, Romanism and Rebellion” that long ago ended a candidate’s career and set the standard for temperance on the stump seems as passe as poli

Dec. 1, 2015

We must prepare now for another major El Nino

The latest cyclical warming of Pacific Ocean waters, first observed centuries ago and formally tracked since 1950, began earlier this year and has already been felt across Asia, Africa and Latin America.Weather experts predict this El Nino will continue into the spring of 2016 and could wreak havoc, because climate change is likely to exacerbate the intensity of storms and flooding in some places and of severe drought and water shortages in others.El Nino’s impacts are global, with heavy rain an

Nov. 30, 2015