The year of living dangerously
Aug 7th 2008, From The Economist print edition ON AUGUST 9th 2007, after an alarming leap in interbank interest
rates, the European Central Bank signalled its readiness to provide
the banking system with the liquidity it suddenly lacked. What
became known, with irresistible alliteration, as the credit crunch had
begun. A year on, the crunch continues. Indeed, recent data
suggest that Europe and Japan are flirting with recession. America
has so far stood up surprisingly well; but banks there (and
elsewhere) are still in pain.
China’s dash for freedom
Jul 31st 2008, From The Economist print edition “SPORT”, as George Orwell noted more than 60 years ago, “is an
unfailing cause of ill-will.” This newspaper generated some of its
own in 2001, when we argued against the award of the 2008
Olympics to Beijing, and drew comparisons to the Nazi-organised
games in Berlin in 1936. Chinese officialdom and many ordinary
citizens were furious: another petulant effort by Western foes to
thwart China’s inexorable rise.
More U-turns, please
Jul 24th 2008, From The Economist print edition BARACK OBAMA’S
presidential-style progress
through the Middle East and
Europe this week stole many
headlines. But that should
not be allowed to divert
attention from some
surprising policy shifts by the
man who, last time we
checked, was still the actual president of the United States. George
Bush has just made at least one-and-a-half U-turns in the Middle
East. They have serious merit. If he now makes another turn and a
half, he may bequeath whoever succeeds him something
unexpected: the beginnings of a decent American policy for this
troubled region.
How to win the war within Islam
Jul 17th 2008, From The Economist print edition AMERICA’S “global war on
terrorism”, now in its seventh year,
has gone on longer than the second
world war. Will it ever end?
Optimists believe some kind of
victory is in sight: Iraq is
improving; al-Qaeda has been
unable to stage a big attack in the
West in three years; and terrorists have shown little sign of using
weapons of mass destruction. Jihadists face an ideological backlash,
even from radical “brothers” who support jihad but disagree with
killing Muslims.
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