Topic Category: World

Many are unaware that Bloomberg predicts the Philippines to become the second fastest growing economy in the world in 2015 — a stunning achievement for a country that has for many years been considered an under performer. Since 2010, GDP growth under President Benigno S. Aquino III was an average of 6.2 percent — the highest in four decades, and coinciding with the Great Recession.

The U.S. response to the ever deepening political and economic crisis in Venezuela, and the regime’s increasingly aggressive behavior toward its neighbors and the international community, is compelling evidence that the Barack Obama administration is sincere in respecting the sovereignty of nations of Latin America and the Caribbean, and allowing the region to address its own governance issues.

Monetary policy has become a slave to boosting asset prices. Sound money has given way to speculative impulses as major central banks suppress interest rates and investors search for yield by taking on more risk. The disconnect between the real economy and financial markets is evident not only in China but in the United States, Japan and Europe.

Contrasting Chinese and American perspectives were on display at the recent Shangri-La Dialogue, during which Defense Secretary Ashton Carter challenged Beijing over its island expansion program. Privately the possibility of war has emerged as a serious topic in Washington. Both nations should draw back from their increasingly dangerous game of chicken.

The Permanent Court of Arbitration (PCA) at The Hague has announced that in July it will be holding the first hearing on the 2013 arbitration case the Philippines filed against China questioning the legal validity of China's '9-dash line' claim over the South China Sea. Since China has refused to participate in any way in the proceedings, Philippine government officials are hopeful that an initial favorable ruling concerning jurisdiction and admissibility of the Philippine case will be the result.

With this week’s visit by People’s Republic of China Primer Li Keqiang to Brazil, Colombia, Chile and Peru, some analysts have suggested that the PRC may be turning away from concentrating its engagement with Latin America and the Caribbean on the less market-friendly regimes of the Bolivarian Alliance. I beg to differ. Premier Li’s visit is nothing more and nothing less than the continuation, with ongoing adjustments, of China’s growing multidimensional engagement with the region.

Alarm bells that are warning various governments about growing Chinese global military presence are overdone. Yes, in doing so, China is indeed seeking to expand its global political, as well as its ability to project its military power abroad. As the world's second largest economy and de facto superpower, what, exactly, would the West and its neighbors expect it to be doing?

China and Myanmar have had a mixed post-war relationship, ranging from warm to hostile, with Burma being the first non-communist country to recognize the PRC in 1949, then expelling much of its Chinese population following anti-Chinese riots in the 1960s. Since the repression of pro-democracy riots in 1988, Myanmar has generally sought a closer relationship with China, as the government wished to strengthen itself in the process.

All eyes are on Cuba as an investment opportunity for U.S. companies. And with travel and trade restrictions relaxing this year the question becomes — is Cuba Ready? For each potential deal, a number of factors and risks need to be assessed. But as the small island nation strives to join the world trade community, Cuba is likely to become a favorable investment destination.