Qatar: Six Countries Sever Diplomatic Ties, Gulf Unity Under Threat

Qatar: Six Countries Sever Diplomatic Ties, Gulf Unity Under Threat

   A. What happened? On June 4 2017, Saudi Arabia, the UAE, Egypt and Bahrain cut diplomatic ties with Qatar. The four Arab countries—joined a few hours later by Yemen and the Maldives—decided to: a) interrupt their diplomatic relations with Qatar; b) expel Qatar from the coalition currently fighting in Yemen; c) interrupt all transport links […]

The Vienna Deal: Only Temporary Relief in Oil Markets

The Vienna Deal: Only Temporary Relief in Oil Markets

photo: Global Panorama The Vienna agreement among OPEC and non-OPEC oil producers will extend oil cuts by nine months. After the deal, oil price plummeted by about 5 percent. Far more is needed to subdue new economic uncertainty and market volatility. Among the oil insiders, the decision to extend oil production cuts was seen as a […]

NAFTA at the Crossroads

NAFTA at the Crossroads

The U.S. Senate voted to confirm Robert Lighthizer as United States Trade Representative last week, rounding out President Donald Trump’s cabinet and giving momentum to his trade agenda. At his swearing-in ceremony on May 15, Ambassador Lighthizer predicted that President Trump would permanently reverse “the dangerous trajectory of American trade,” and in turn make “U.S. […]

Will China Save the World?

Will China Save the World?

The Chinese leader Xi Jinping advocates globalization, which may increasingly aid the long-term development of the world economy. The US president Donald Trump does not serve globalization or even hinders the development of the world economy. Maybe some of his actions will revive the US economy in the short run, but they are harmful to […]

The Post-Referendum Turkish Economy: How to Write the New Chapter

The Post-Referendum Turkish Economy: How to Write the New Chapter

Turkey has left its constitutional referendum behind, along with the associated political uncertainties. In fact, not only the referendum but also certain earlier developments including the parliamentary elections in 2015 and the failed coup attempt in 2016 caused the country to deal with uncertainties for a considerable period of time. As a result, the governments […]

Iran Struggles to Sustain its Economic Recovery

Iran Struggles to Sustain its Economic Recovery

photo: s1ingshot Introduction. On the eve of the Iranian presidential election in May, Iranian President Rouhani has much to feel good about. Thanks to his tireless efforts, Iran’s economy has moved from a recession in 2015/2016 to 7.4% GDP growth in the first half of 2016/2017. But U.S. President Trump’s opposition to the nuclear agreement could […]

The Mist of Central Bank Balance Sheets

The Mist of Central Bank Balance Sheets

Central banks of large advanced and many emerging market economies have recently gone through a period of extraordinary expansion of balance sheets and are all now possibly facing a transition to less abnormal times. However, the fact that one group is comprised by global reserve issuers and the other by bystanders receiving impacts of the […]

What Is Pushing the Oil Prices Down?

What Is Pushing the Oil Prices Down?

photo: Ryan Lackey A new pricing consensus has emerged on the global oil market, spurred by financial and intrinsic factors. The fall in prices for ‘black gold’ has been a key shift in the global oil market in recent years. If, in 2014, the average annual price of a barrel of Brent cost $99, then in […]

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