Read the first five paragraphs of the NATO statement on the Russian invasion of Georgia and you will find not a hint of who invaded whom. The statement is almost comically evenhanded. “We deplore all loss of life,” it declared, as if deploring a bus accident. And, it “expressed its grave concern over the situation [...]

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“The big story is productivity in China,” he asserts, noting it is an incredible 9%, or three times the level of productivity in the US during its 1990s peak. Admiral Owens attributes this to the country’s high-quality infrastructure. It will allow the Chinese economy to soon become the second-largest in the world, with a GDP [...]

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There are three explanations for the oil price’s muffled impact. The first is that nowadays developed economies are more efficient in their use of energy, thanks partly to the increased importance of service industries and the diminished role of manufacturing. According to the Energy Information Administration, the energy intensity of America’s GDP fell by 42% [...]

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Japan’s estrangement from its postwar pacifism continued today with the enactment of a law ending its 40-year ban on the military use of space.
The law signals Tokyo’s determination to expand its military capability amid concern over China’s ballooning defence budget and North Korea’s development of ballistic and nuclear missiles.
The move will be welcomed by the [...]

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The European Union cannot agree over how to deal with Russia. That suits the Kremlin just fine
SEEN from outside, one might imagine that the European Union (population 495m, GDP of $16.8 trillion) was a rather intimidating neighbour for Russia (population 142m, GDP of $1.3 trillion). Yet the reality is the other way round. In recent [...]

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As the leader of the free world, the United States has a responsibility to lead. This has been our reality as a nation since the 1940s. As such, we need a well-funded military. Today, however, our military forces are desperately in need of recapitalization and modernization. We have been on a “procurement holiday” since the [...]

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