In the past decade Hong Kong and Macau have benefited substantially from mainland Chinese policies of letting an increasing number of tourists into the two cities. Many believed that mainland tourists were part of the contributors that helped lift Hong Kong’s economy out of the abyss following the 2003 SARS (severe acute respiratory syndrome) crisis. Mainland travellers, especially high rollers, a

Here comes the latest on China and India. This one’s from American financial services company Citi. It says India, thanks to its robust growth, is expected to surpass China ― and the United States ― by 2050 to become the largest economy in the world. Of course, China is expected to overtake the U.S. to become the largest economy by 2020. The paeans India has received for its fast economic growth (

LONDON ― “I am a glory that will not be abandoned by Libya, the Arabs, the United States, and Latin America ... revolution, revolution, let the attack begin,” said the self-described King of African Kings, Dean of Arab Leaders, and Imam of all Muslims, Colonel Moammar Gadhafi. The statement summarizes the Libyan regime’s extremely repressive response to the popular uprising against Gadhafi’s 42-ye

If we could write the script for the events unfolding in the Middle East, peaceful demonstrators would overwhelm the dictators, who would quickly agree to democratic transitions without bloodshed.The newly liberated countries would proclaim, with universal approval, a future of tolerance, peace and friendship at home, among people of different tribes, religions and beliefs, at home as well as abro

It is not immediately obvious, but nearly all street protests involve only a minuscule proportion of a country’s population. None of the high-profile protests in recent memory, whether in Bahrain, Libya, Egypt, Tunisia, Iran or Moldova, have involved even 1 percent of the people.The 300,000 Egyptians, for instance, who descended on Tahrir Square in Cairo represent just 0.4 per cent of the country’

The response of the United States and the international community to the atrocities committed by Libyan strongman Moammar Gadhafi against his people has been frustratingly slow and ineffectual.While President Obama and other world leaders have dithered, the slaughter waged by Gadhafi’s mercenaries has claimed the lives of hundreds, perhaps thousands, of peaceful protesters on the streets of Tripol

President Obama’s proposed federal budget is far too large.In public statements it has become obligatory to make a smoke cloud about fiscal responsibility, and Obama has done that. “Let’s invest in our people without leaving them a mountain of debt,” he said.The mountain is already there. As a percentage of the gross domestic product, the mountain of debt is now the highest since the Truman admini

With a rapidity that would have been unimaginable only a month ago, oppression in the Middle East ― Tunisia, Egypt and now, hopefully, Libya ― is on the run. Whatever the short-term challenges, what emerges will probably be better than the old dictatorial regimes.That’s different than proclaiming that democracy and freedom have arrived. Creating a representative political system of self-rule in th

Marijuana should be legalized, regulated and taxed. The push to repeal federal prohibition should come from the states, and it should begin with the state of Washington.In 1998, Washington was one of the earliest to vote for medical marijuana. It was a leap of faith, and the right decision. In 2003, Seattle was one of the first places in America to vote to make simple marijuana possession the lowe

The world abhors China’s one-child policy. Officials in Beijing must be quietly toasting its very existence as the Middle East burns.A common thread linking events in Egypt, Bahrain, Tunisia, Libya and elsewhere is big populations of disaffected youth. They’re angry about greed, corruption, the rich-poor divide and unaccountable leaders. Many Chinese harbor similar gripes, yet demographics works i

It comes with a nice office and a grand title. You would probably have a pretty generous expense account. And there may well be a lucrative consulting gig with Goldman Sachs Group Inc. when it is all over.Even so, you would have to be bordering on insanity to accept the role of European Central Bank president when Jean-Claude Trichet steps down in October this year.It’s the job from hell. The euro

AMMAN, Jordan ― Jordanians are clamoring for reform these days, like everyone else in the Arab world, but what they mean depends partly on which side of the Jordan River their ancestors hail from. Yet both sides look to the Hashemite monarchy for protection, which is one reason it’s still standing amid the hurricane that’s blowing through the neighborhood. When Jordanians of Palestinian descent ta

Korea’s inflation woes are deepening as the worsening turmoil in Libya has sent oil prices on an upward spiral. The price of Dubai crude oil, South Korea’s benchmark, stayed above the $100 mark for the three consecutive days on Thursday. If the Dubai oil price remains above $100 for two more days, the government has to upgrade its energy alert level from the current “blue” to “yellow.”The surge in

Press reports say several hundred residents in Sinuiju, a North Korean city on the border with China, clashed with security forces on Feb. 18 over the death of a merchant during a police crackdown on a market. On Feb. 14, small protests reportedly broke out in three northeastern cities of the impoverished country over fuel and food shortages.Are these signs that the “Jasmine Revolution” that start

As CD sales plummeted, music executives looked in hope toward a new business model: Instead of trying to sell albums for $15 to $20 apiece, offer unlimited access to songs online for a flat monthly fee. The idea, however, has yet to catch on with the masses of music fans. The main impediment for many years was that subscribers couldn’t use the services on the MP3 players that most of them owned, A

Every serious global problem has an important China angle. The Chinese are everywhere, and they’re not going away any time soon.As a matter of fact, the Chinese are firmly convinced that this is “their” century, and that they will displace the United States as global economic leader.The last country with a dominant global economic role that had to face a boisterous, fast-growing upstart was Britai

The result in Hamburg couldn’t have been more punishing for the Christian Democratic Union and for Chancellor Angela Merkel. The first of seven regional elections in Germany this year left no doubt about where German voters stand on a much larger issue: the euro crisis.The race for mayor of the city-state, the equivalent of the premier in other German states, was won by the candidate from the oppo

Our country is bankrupt. It’s not bankrupt in 30 years or five years. It’s bankrupt today.Want proof? Look at President Barack Obama’s 2010 budget. It showed a massive fiscal gap over the next 75 years, the closure of which requires immediate tax increases, spending cuts, or some combination totaling 8 percent of gross domestic product. To put 8 percent of GDP in perspective, this year’s employee

Investors of the world, unite and buy Australian bank debt. Why? Moody’s Investors Service suggests you shouldn’t.Really, in our post-U.S.-crisis world, is there a better contrarian indicator? Credit raters missed the Asian crisis, Russia’s default, the tech-stock crash, Enron, the U.S. housing bubble, Wall Street’s collapse and Europe’s meltdown. Now, we’re supposed to care what they think about

After making a big splash at the Conservative Political Action Conference in Washington this month, Donald Trump was asked if he is considering a run for the presidency.“I’m incredibly tempted,” he responded.If Trump gives in to temptation, his past actions and positions may collectively provide the biggest handicap for a major candidate in the history of presidential politics.If he decides to run