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Filtering by Category: Financial Times
Moisés Naím / Financial Times
What should be a higher priority: reducing inequality or alleviating poverty? It is, of course, tempting to answer that they are equally important. Or that the question is moot because reducing poverty will automatically shrink income disparities; or that policies that lower inequality will inevitably reduce poverty.
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People of Arab descent living in the US are better educated and wealthier than the average American of non-Arab descent. That is one surprising conclusion drawn from data collected by the US Census Bureau in 2000. The census also found that Arab Americans are better educated and wealthier than Americans in general.
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Pre-emptive wars, unilateralism, regime-change. Only recently, senior US officials and influential columnists claimed that these were not just good ideas but were also the only viable options for US foreign policy. Today, with more than 900 American soldiers dead, 10,000 coalition troops wounded, $90bn spent and the justification for war dismissed as a massive intelligence failure, these ideas lie buried in Iraq. They will not be missed. America's foreign policy will be better off without them. But there is a danger that, in their haste to distance themselves from these discredited notions, policymakers will also jettison some far more valuable ideas.
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Nothing, it would seem, could have stopped the Bush administration from pursuing its long-standing plans against Saddam Hussein. But placing responsibility for the Iraq debacle solely on George W. Bush's shoulders is too simple and even potentially dangerous - too simple because it blurs the responsibilities of others who contributed to an environment in which bad new ideas were embraced just as easily as good, proved ones were shed. It is also dangerous because the conditions that facilitated this environment, namely terrorism, will not disappear. Therefore it is important to learn that whatever the threat, no government should be afforded the latitude enjoyed by the Bush administration. The media - both reporters and commentators - are prime culprits here. The promise that democracy would spread from a liberated Iraq, for example, was as poorly scrutinised as the notion advanced by the administration that the Geneva conventions did not apply to the war on terror.
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News that Horst Köhler, the managing director of the International Monetary Fund, is poised to become Germany's next president marks the end of a murky process that, according to insiders, would have led to his reappointment for another five-year term at the IMF. Mr Köhler's term was to expire in May 2005 and news of his imminent departure has triggered intense speculation about his likely successor. This should be the perfect opportunity to end the entrenched and opaque way that succession is managed at the IMF - and the World Bank.
Read MoreMoisés Naím / Financial Times
It seems neither realistic nor fashionable these days to expect summits of heads of state to yield concrete results. Thus, few expect important consequences from the current summit of western hemisphere leaders in Monterrey, Mexico. In this sense, the meeting has been a normal presidential summit. Unfortunately for Latin America, this normalcy is tragic.
Read MoreMoisés Naím / Financial Times
At a recent gathering of Latin American heads of state, Luiz Inácio Lula da Silva, the Brazilian president, commented that his supporters, the workers of Brazil, had waited for decades to influence Brazilian politics. "That's nothing," said Alejandro Toledo, the first Peruvian president of indigenous descent. "My people have been waiting for 500 years!" The wait is now over, and not just in Peru. The political empowerment of indigenous populations has become a global trend.
Read MoreMoisés Naím / Financial Times
These days, China is not just exporting toys, electronics and textiles. It is also exporting anxieties.
Business leaders, government officials and military planners fret over China's potential to wreak havoc in the world. Worried about the US trade deficit, John Snow, US Treasury secretary, recently visited Beijing to see if something could be done about the undervalued exchange rate that makes Chinese exports even cheaper than they would otherwise be. His colleagues at the Pentagon worry that China may develop the economic and military wherewithal to challenge US global supremacy. President Vicente Fox complains of China's aggressive tactics in luring light industry away from Mexico, while Germans and Japanese worry that China's cheap exports add to their own deflationary problems.
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A "crass buffoon" and "a man of very questionable integrity" is how The Economist describes him. He incarnates "nepotism, corruption and dishonesty" says Denmark's Information, while Aftonbladet, a Swedish daily, dismisses him as "an arrogant clown" and the Berliner Zeitung writes that he is "a shady deal-maker". France's Libération concludes that he is a "threat to liberal democracy". Whereas the Financial Times argues that "he lives in a media-bubble where his public gaffes and gratuitous insults go largely unreported at home at least until he goes abroad".
Read MoreMoisés Naím / Financial Times
George W. Bush should be as bold with Brasilia as he was with Baghdad. In Brazil's case, however, instead of regime change his aim should be regime support. And rather than military force, he should wield his country's enormous economic influence.
Read MoreMoisés Naím / Financial Times
For more than a year, the deteriorating political relationship between the US and Europe has provided rich fodder for analyses, dire predictions, threats and appeals. Meanwhile, as politicians, diplomats and generals fret over the geopolitical causes and consequences of the worsening health of the transatlantic relationship, the US dollar has been sliding against the euro.
Read MoreMoisés Naím / Financial Times
There is murderous anti-Americanism and there is anti-Americanism "light". The first is the anti-Americanism of fanatical terrorists who hate the US - its power, its values and its policies - and are willing to kill and to die in order to hurt it. The second is the anti-Americanism of those who take to the streets and the media to rant against it but do not seek its destruction.
Read MoreMoisés Naím / Financial Times
For decades Venezuela was a backwater, uninteresting to the outside world. It could not compete for international attention with nearby countries where superpowers staged proxy wars, or where military juntas "disappeared" thousands of opponents, or where the economy regularly crashed. Venezuela was stable. Its oil fueled an economy that enjoyed the world's highest growth rate from 1950 to 1980 and it boasted a higher per-capita income than Spain from 1928 to 1984. Venezuela was one of the longest-lived democracies in Latin America.
Read MoreMoisés Naím / Financial Times
Oil and beauty queens: for decades, those were the only stories from Venezuela to catch the attention of the international media. Now, with its oil industry paralysed, the economy in free fall and President Hugo Chávez stepping up his Bolivarian revolution, Venezuela's disintegration is a story the world can no longer ignore.
Read MoreMoisés Naím / Financial Times
The world feels increasingly dangerous these days. Terrorism and an uncertain economy have greatly heightened our sense of insecurity. The dangers that make us feel insecure are obvious. Less obvious, but perhaps as dangerous, is the world's heightened susceptibility to bad ideas.
Read MoreMoisés Naím / Financial Times
What if Saddam Hussein fully complies with the United Nations' resolution, avoids a war and retains power? His past behaviour, the Bush administration's eagerness to get rid of him and the huge room for accidents and provocations that can spark a war have persuaded many that this is an improbable outcome. Moreover, even those who think Mr Hussein may comply with the UN demands - he appeared to take a first on Wednesday - assume that the inspection process is bound to destabilise his regime and eventually lead to its demise.
Read MoreMoisés Naím / Financial Times
What a difference a decade makes. During the first half of the 1990s, it seemed as if all economy ministers from emerging markets were using the same PowerPoint presentation. When they gave a talk, in Washington or London, they appeared to use the same slides with the same messages and, at times, the same graphs. The similarities were eerie, considering one minister might be from, say, Russia and the other from Ghana or Mexico.
Read MoreMoisés Naím / Financial Times
What led American executives to think they could get away with hiding billions of dollars in corporate losses or invent staggering amounts of non-existent revenues? Greed, arrogance, dishonesty and other human frailties are obvious answers. But they are not the most interesting. After all, hubris and corruption among the powerful are as old as the Bible.
Read MoreMoisés Naím / Financial Times
As soon as the results of Brazil's presidential election next month become known, George W. Bush should invite the winner to his ranch in Texas and propose a bilateral economic treaty that Brazil's new leader cannot refuse.
Read MoreMoisés Naím / Financial Times
Lucio Garcia, a gardener in Merrifield, Virginia, speaks daily to his family in a remote town in Bolivia using a prepaid phonecard that costs him a few cents a minute. Edie Baron Levi, a Mexican congressman, commutes weekly from Mexico City to Los Angeles, where he and his constituents reside. Iqbal Farouqi, a Pakistani waiter working in Milan, has used the money he earns to purchase two small trucks in Karachi that he rents to relatives and manages via the internet.
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