Opinion | China, Japan and the Sea (Published 2010)
China and Japan have wisely stepped back from a confrontation in the East China Sea. The incident showed the alarming potential for territorial disputes to quickly escalate and why the players need to work a lot harder to resolve competing claims. We don’t know who was at fault when a Chinese fishing trawler collided two weeks ago with two Japanese patrol boats in waters near islands that are clai
Afghan Officials Elated by Minerals Report (Published 2010)
KABUL, Afghanistan � Government officials sounded headily optimistic Monday as they fielded questions from local and international reporters about a new report on the extent of Afghanistan’s mineral wealth that suggests considerable potential for products other than opium, which until now has been the country’s most lucrative export. The report, produced by the American military and the United Sta
U.S. Enriches Companies Defying Its Policy on Iran (Published 2010)
President Mahmoud Ahmadinejad of Iran, center, in Brazil last fall. The nations agreed to share technical expertise on energy projects.Credit...Fernando Bizerra Jr./European Pressphoto Agency The federal government has awarded more than $107 billion in contract payments, grants and other benefits over the past decade to foreign and multinational American companies while they were doing business in
Opposition Grows in Germany to Bailout for Greece (Published 2010)
BERLIN � As European finance ministers refused Monday to name specific measures to rescue Greece and the Continent’s common currency, opposition grew among Germans to bailing out what they call spendthrifts to the south after years of belt-tightening by workers at home. The fiscal crisis, shaking the Greek government while driving down the value of the euro, is forcing taxpayers and voters across
Iran Boasts of Capacity to Make Bomb Fuel (Published 2010)
President Mahmoud Ahmadinejad of Iran greeted supporters on a street before his speech in a ceremony marking the 31st anniversary of the 1979 Islamic revolution in Tehran.Credit...Newsha Tavakolian/Polaris, for The New York Times CAIRO � Iran’s president boasted Thursday that his nation had the capacity to make weapons-grade nuclear fuel if it chose to, in a speech intended to rally the nation as
U.N. Seeks to Drop Some Taliban From Terror List (Published 2010)
KABUL, Afghanistan � The leader of the United Nations mission here called on Afghan officials to seek the removal of at least some senior Taliban leaders from the United Nations’ list of terrorists, as a first step toward opening direct negotiations with the insurgent group. In an interview, Kai Eide, the United Nations special representative, also implored the American military to speed its revie
Contrarian Investor Sees Economic Crash in China (Published 2010)
SHANGHAI � James S. Chanos built one of the largest fortunes on Wall Street by foreseeing the collapse of Enron and other highflying companies whose stories were too good to be true. Now Mr. Chanos, a wealthy hedge fund investor, is working to bust the myth of the biggest conglomerate of all: China Inc. As most of the world bets on China to help lift the global economy out of recession, Mr. Chanos
Change in Japan a Tough Task for Finance Minister (Published 2010)
TOKYO � It sounds like a script written for Hollywood: an idealistic reformer put in charge of cleaning up his nation’s most powerful center of entrenched bureaucratic influence. Political experts say that the appointment Thursday of Naoto Kan, a former civic campaigner against government corruption, to run the Finance Ministry does just that, pitting a veteran bureaucracy fighter against the most
The Worst May Not Be Over for Europe (Published 2009)
LONDON — Never before has Europe’s monetary union seemed so fragile. Day by day, fears are growing that Greece or another weak country may default on its sovereign debt obligations, forcing the richer countries in Europe to ride to the rescue or risk having one or more of its most vulnerable members leave the 16-nation euro zone. Many European economists discount such a fracture as a remote possib
Japan Delays Decision on Moving U.S. Marine Base (Published 2009)
TOKYO � Prime Minister Yukio Hatoyama’s postponement of a decision on relocating an American military base on Okinawa may be the product of domestic political considerations as much as deeply held foreign policy principles, analysts here said on Tuesday. But it promises to put new pressures on Japan’s already strained ties with the United States, its closest ally. The Obama administration had pres
How Did Economists Get It So Wrong? (Published 2009)
I. MISTAKING BEAUTY FOR TRUTH It’s hard to believe now, but not long ago economists were congratulating themselves over the success of their field. Those successes — or so they believed — were both theoretical and practical, leading to a golden era for the profession. On the theoretical side, they thought that they had resolved their internal disputes. Thus, in a 2008 paper titled “The State of Ma
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