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No new phone, tablet, car, or satellite transferring your data at lightning speed can be made without certain minerals and metals that are buried in a surprisingly small number of countries, and for which few commonly found substitutes are available. Operating in niche markets with limited transparency and often in politically unstable countries, Chinese firms have locked up supplies of these minerals and metals with a combination of state-directed investment and state-backed capital, making long-term strategic plays, sometimes at a loss

unprecedented concentration of market power

“Made in China 2025,” aims to build strategic industries in national defense, science, and technology. To meet these objectives, in October 2016, the Ministry of Industry and Information Technology announced an action plan for its metals industry to achieve world-power status: By deploying state-owned enterprises and private firms to resource-rich hot spots around the globe, China would develop and secure other countries’ mineral reserves—including minerals in which China already holds a dominant position

Vietnam seems to be the consensus pick for winner of the U.S.-China trade war, as Chinese and other manufacturers shift production to the cheaper Southeast Asian nation. If there’s a loser, at least in terms of missed opportunities, it may be the countries of South Asia.

Faced with rising costs, Chinese manufacturers must decide whether to invest in labor-saving automation technologies or to relocate. Those choosing the latter present an enormous opportunity for less-developed countries, as Chinese companies can help spark industrialization and much-needed economic transformation in their new homes. 

The only proven pathway to long-lasting, broad-based prosperity has been to build a manufacturing sector linked to global value chains, which raises productivity levels and creates knock-on jobs across the whole economy

the post-World War II architecture is reaching its structural limits. In particular, it is incompatible with the achievement of the Sustainable Development Goals, the successor to the Millennium Development Goals, which are 17 objectives designed to bring sustainable development to every part of the world—notably the world’s developing nations and, in particular, the world’s least-developed countries. The new goals include completely eliminating global extreme poverty, managing sustainable production and consumption cycles, ending all forms of discrimination against women and girls, and strengthening resilience and adaptivity to hazards tied to climate change.

the current global financial architecture centers on sovereign states, with international credit and the benefits of such credit—notably the ability to raise capital in order to fund projects, including infrastructure—tending to flow to countries rather than to the neediest local communities themselves.

even if international donors and investors encourage better national governance, and they should, funding for local projects still competes, often unfavorably, with national government priorities—such as national defense, foreign affairs operations, government salaries, and national budget deficits

China's exports hit an all-time high in December, 2015 and (ignoring season fluctuations) have been declining ever since. China is increasingly turning inward for growth - and having trouble finding it

Most other countries export intermediate goods that are just parts and components of the finished goods that consumers actually buy. China more often exports the finished goods

both Chinese and global exports are falling

Indonesia has passed a wide-ranging bill that will weaken environmental protections and workers’ rights in an attempt to boost investment, a move condemned as a “tragic miscalculation” that could lead to “uncontrolled deforestation”.Groups representing millions of workers said they would strike on Tuesday in response to protest against the bill, which will amend about 1,200 provisions in 79 existing laws after it was pushed through parliament with unprecedented speed

The bill has also been criticised by both environmental experts and some of the world’s biggest investors, who expressed concern over its impact on the country’s tropical forests.

The government argues that the bill will make the country more attractive to investors at a time when the economy is reeling from the impact of Covid-19. Millions of people have lost their jobs as a result of the virus, which has infected more than 300,000 people and claimed 11,253 lives.

“Ukraine has become the front line in a struggle, not just between democracies and autocracies but in a struggle for maintaining a rules-based system in which the things that countries want are not taken by force,” Hill said. “Every country in the world should be paying close attention to this.”

Putin doesn’t even seem like he’s trying to make a convincing case. We saw the same thing in the Russian response at the United Nations. The justification has essentially been “what-about-ism”: ‘You guys have been invading Iraq, Afghanistan. Don’t tell me that I can’t do the same thing in Ukraine.”

It’s reestablishing Russian dominance of what Russia sees as the Russian “Imperium.” I’m saying this very specifically because the lands of the Soviet Union didn’t cover all of the territories that were once part of the Russian Empire. So that should give us pause.

Saudi Crown Prince Mohammed bin Salman has rolled the dice with a US$ 374 million bid to acquire storied British soccer club Newcastle United. If approved by Britain’s Premier League that nominally maintains a high bar for the qualification of aspiring club owners, Prince Mohammed would have demonstrated that he has put behind him an image tarnished by Saudi conduct of a five-year long war in Yemen, the 2018 killing of journalist Jamal Khashoggi, systematic abuse of human rights and, more recently, the kingdom’s badly-timed oil price war with Russia.

the kind of financial muscle that allows it to acquire trophies that enable it to project itself in a different light and garner soft power rather than financial gain at a time of a pandemic and global economic collapse.

Aramco, the Saudi national oil company, was reported to be talking to banks about a US$10 billion loan to help finance its acquisition of a 70% stake in Saudi Basic Industries Corp (SABIC). The deal would pour money into the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund.

“More global trade is a good thing if we get a piece of the cake,” Mr. Duijzers said. “But that’s the problem. We’re not getting our piece of the cake.”

For generations, libraries full of economics textbooks have rightly promised that global trade expands national wealth by lowering the price of goods, lifting wages and amplifying growth. The powers that emerged victorious from World War II championed globalization as the antidote to future conflicts. From Asia to Europe to North America, governments of every ideological persuasion have focused on trade as their guiding economic force. Advertisement Continue reading the main story But trade comes with no assurances that the spoils will be shared equitably. Across much of the industrialized world, an outsize share of the winnings have been harvested by people with advanced degrees, stock options and the need for accountants. Ordinary laborers have borne the costs, suffering joblessness and deepening economic anxiety

When millions of workers lost paychecks to foreign competition, they lacked government supports to cushion the blow. As a result, seething anger is upending politics from Europe to North America.

in 1999, the Commodities Futures Trading Commission deregulated futures markets. All of a sudden, bankers could take as large a position in grains as they liked, an opportunity that had, since the Great Depression, only been available to those who actually had something to do with the production of our food

After World War II, the United States was routinely producing a grain surplus, which became an essential element of its Cold War political, economic, and humanitarian strategies -- not to mention the fact that American grain fed millions of hungry people across the world

Futures markets traditionally included two kinds of players. On one side were the farmers, the millers, and the warehousemen, market players who have a real, physical stake in wheat. This group not only includes corn growers in Iowa or wheat farmers in Nebraska, but major multinational corporations like Pizza Hut, Kraft, Nestlé, Sara Lee, Tyson Foods, and McDonald's -- whose New York Stock Exchange shares rise and fall on their ability to bring food to peoples' car windows, doorsteps, and supermarket shelves at competitive prices. These market participants are called "bona fide" hedgers, because they actually need to buy and sell cereals. On the other side is the speculator. The speculator neither produces nor consumes corn or soy or wheat, and wouldn't have a place to put the 20 tons of cereal he might buy at any given moment if ever it were delivered. Speculators make money through traditional market behavior, the arbitrage of buying low and selling high. And the physical stakeholders in grain futures have as a general rule welcomed traditional speculators to their market, for their endless stream of buy and sell orders gives the market its liquidity and provides bona fide hedgers a way to manage risk by allowing them to sell and buy just as they pleased.

doubts over a policy aimed at re-invigorating U.S. military and economic influence in the fast-growing region, while balancing a rising China

the image of a dysfunctional, distracted Washington adds to perceptions that China has in some ways outflanked the U.S. pivot

Since 2011, China has consolidated its position as the largest trade partner with most Asian countries and its direct investments in the region are surging, albeit from a much lower base than Europe, Japan and the United States. Smaller countries such as Laos and Cambodia have been drawn so strongly into China's economic orbit that they have been called "client states" of Beijing, supporting its stance in regional disputes. Leveraging its commercial ties, China is also expanding its diplomatic, political and military influence more broadly in the region, though its efforts are handicapped by lingering maritime tensions with Japan, the Philippines and several other nations. "For countries not closely allied with the U.S., Obama's no-show will reinforce their policy of bandwagoning with China,"

: a world undergoing a far-reaching, irreversible, and, indeed, unprecedented restructuring of economic power.

Western economic dominance -- 10 percent of the world's population producing a majority of the world's exports and investment -- is finished, never to return. After two centuries in which Europe and America monopolized global economic activity, the West is now being out-produced, out-manufactured, out-traded, and out-invested by the rest of the world.

Several prototypes of a diplomatic system using artificial intelligence are under development in China, according to researchers involved or familiar with the projects. One early-stage machine, built by the Chinese Academy of Sciences, is already being used by the Ministry of Foreign Affairs.

China’s ambition to become a world leader has significantly increased the burden and challenge to its diplomats. The “Belt and Road Initiative”, for instance, involves nearly 70 countries with 65 per cent of the world’s population. The unprecedented development strategy requires up to a US$900 billion investment each year for infrastructure construction, some in areas with high political, economic or environmental risk

researchers said the AI “policymaker” was a strategic decision support system, with experts stressing that it will be humans who will make any final decision

Many countries that receive BRI investments suffer from high levels of corruption. On the TRACE Bribery Risk Matrix, most rank in the lower 50 percent, and 10 are among the riskiest 25 countries in the world. They often have opaque legislative processes, weak accountability mechanisms, compliant media organizations, and authoritarian governments that don’t permit dissent

China, of course, struggles with its own share of corruption. In fact, some of China’s own infrastructural marvels have been built through means that were less than scrupulous. President Xi Jinping’s anti-corruption purges have frozen some of that at home. In its construction projects abroad, however, Beijing’s approach seems to be “whatever works.” In no part of China’s lengthy declaration of the BRI’s principles is any attempt made to discourage corruption. And according to a report by Transparency International, no charges have ever been brought in China against a company, citizen, or resident for corrupt practices committed overseas.

While Chinese corruption at home doesn’t threaten to bankrupt the government, Chinese corruption in smaller, poorer countries sometimes does. For some of these countries, China’s BRI project is the biggest infrastructural endeavor they’ve ever attempted—a high-stakes gamble collateralized with mountains of debt. When such projects are approved by local leaders more interested in enriching themselves than in weighing the cost for their country, locals can find themselves crushed beneath the weight of white elephants.

The United States needs higher level political engagement in Africa to counter China’s growing influence even as the military cuts back troop levels on the continent, U.S. Africa Command’s commander told lawmakers

Despite the Pentagon-ordered troop cutbacks, Waldhauser said he has “adequate” forces to carry out his mission and special operations troops in Libya and Somalia were unaffected by the drawdown. Instead, the reductions centered on regions where there was no clear threat to the U.S. homeland, he said. And in Niger, where four U.S. soldiers were killed in a 2017 ambush, special operations troops have shifted away from ground patrols to advising forces at a battalion headquarters level and even remotely, Waldhauser said.

In recent years, much of the United States focus in Africa has centered on countering violent extremism in places such as Niger, a country that military leaders have long acknowledged there is no immediate threat to the United States. Meanwhile, Beijing has invested billions to finance mineral extraction ventures, telecommunication projects, port and infrastructure deals in Africa. China also has increased its military activities, establishing its first overseas base in Djibouti nearly two years ago. “They certainly want to protect those investments,” the general said. As the United States vies for influence, Waldhauser said it can’t focus just on military power. “We need to do a better job of publicizing things we are doing on the soft side of power,” he said. “Africans don’t want to be in the middle of great-power competition.”

China has emerged in recent years, because of its economic ascent, as a neocolonial practitioner of predatory economics, which is sparking a new Great Game in the Indo-Pacific. In the words of former Maldivian Foreign Minister Ahmed Naseem, “What is happening in the Maldives is not just about democracy, it is about peace, security, and stability in the entire Indian Ocean neighborhood.”

India has played a major role in helping build the Maldivian economy, as well as in underwriting political stability in the country. India backed the authoritarian President Maumoon Abdul Gayoom for several decades, even sending troops to preempt a 1988 military coup attempt

As has been the case in Pakistan, Sri Lanka, and elsewhere, an increasingly powerful and assertive China is melding its Belt and Road Initiative with its global maritime ambitions, throwing cash around to create dependent client states, and brazenly challenging India on New Delhi’s home turf, the Indian Ocean

Fossil fuels ensnare all of us in the same invisible network of consequence: They feed wildfires and acidify the ocean; they reward wealthy adults and punish powerless children; they punish the adults, too, by stopping their heart. They bind our decisions to the lives of strangers who haven’t yet been born.Fossil fuels also produce an enormous amount of energy at a fairly low cost—that’s why we use them in the first place. We depend on them because rich countries, such as the United States, have failed to invest in any other arrangement. But the fossil-fuel companies that have plotted and lobbied and coddled to prevent that investment aren’t doing so to preserve their trillions in subsidies. They want to keep us using their product, without thinking too hard about the cost.

Over the next 30 years, the climate crisis will displace more than 140 million people within their own countries—and many more beyond them. Global warming doesn’t respect lines on a map: It will drive massive waves of displacement across national borders, as it has in Guatemala and Africa’s Sahel region in recent years.

There are two ways forward: climate reparations or climate colonialism. Reparations would use international resources to address inequalities caused or exacerbated by the climate crisis; it would allow for a way out of the climate catastrophe by tackling both mitigation and migration. The climate colonialism alternative, on the other hand, would mean the survival of the wealthiest and devastation for the world’s most vulnerable people.

The wealthy find ways to insulate themselves from the worst consequences of the climate crisis. In Lagos, Nigeria, for example, the government cleared hundreds of thousands of slum dwellers to make way for developers. The so-called Great Wall of Lagos sea wall will shield a planned luxury community on Victoria Island from sea level rise at the expense of neighboring areas. The poor, the unemployed, and those who lack stable housing are seeing their living conditions rapidly deteriorate, with little hope for a solution.

In 2019 SOS International (SOSi), a Virginia company with links to the U.S. military, won exclusive access to mines across Afghanistan. President Ashraf Ghani’s brother is a major shareholder of a SOSi subsidiary. President Ghani granted this SOSi subsidiary, Southern Development, rights to buy artisanally mined ore. Southern Development operates a mineral processing plant on the outskirts of Kabul. The inroads made by SOSi and Southern Development into Afghanistan’s mining sector have roots in a 2011 initiative by U.S. special forces to work illegally with members of a pro-government Afghan militia on mining in Kunar province. Although shut down after an inquiry, these Kunar projects have since been quietly restarted as a private venture, and are benefitting those closest to the president.

The Taliban and other armed groups have battled both the central government and each other for control of the mines, using them to fund their insurgencies. Even former U.S. President Donald Trump coveted Afghanistan’s gold, lithium, uranium, and other mineral riches. In 2017, Trump was persuaded to keep troops in the country by its president, Ashraf Ghani, who dangled the prospect of mining contracts for American companies.

In 2011, American Special Forces operators introduced an eastern Kunar paramilitary commander, Noor Mohammed, and his deputy, known as Farhad, to a small Pentagon business development office called the Task Force for Stability and Business Operations. The Task Force, which operated in Iraq and Afghanistan, aimed to create jobs for locals in key industries like mining as part of a broader counterinsurgency strategy. In theory, good jobs would stop Afghans from joining the militants. “Their mission, to create small-scale, sustainable mining operations for the Afghans, was a solid fit to our FID [Foreign Internal Defense] mission,” said Heinz Dinter, a former Special Forces officer. The commandos asked the Task Force to help the two local warlords, who were illegally dealing in chromite, a valuable anti-corrosion additive used in stainless steel and aircraft paint. Afghan chromite is prized for its exceptional purity. With a crusher provided by the Pentagon, Mohammed and Farhad began to process their ore at Combat Outpost Penich, a small NATO base in eastern Kunar.

the first-ever Russia-Africa Summit, held in Sochi, Russia, last week

As Putin tries to court Africa’s leaders and stage a grand return to the continent, fears have been raised of a new scramble for Africa. It is a framing that seems to have stuck in Moscow, Beijing, and Washington, where officials have made clear to varying degrees that their engagement with the continent is part of a broader geopolitical struggle between each other.

in Libya, Russia has had even less luck. Two of the same Russian nationals who botched the Madagascar plot were found in July to be attempting to influence Libya’s recent elections. The Russians’ clueless antics got the duo arrested—no easy feat in a country that, according to Freedom House, entirely lacks both an electoral democracy and the rule of law.