Australia is no longer immune to the stagnation in the West. Despite a resilient housing market, Australia’s economy is slowing. With a worsening labor market, consumption is eroding, along with business confidence.
The Great Debate
President Barack Obama has decided to test whether Iranian President Hassan Rouhani’s “charm offensive” is a legitimate effort to reach an agreement on a more constricted and transparent Iranian nuclear program. With this decision, he embarks on the most transformative and important diplomatic initiative of his presidency.
Recently my family and I went through photos we had taken in Scotland. These images brought back memories of my fascination with the pristine Scottish natural environment. There are the breathtaking highlands, the sparkling lochs, the magnificent glens and the abundant wildlife. All these reminded me of Liaoning, my home province.
From outside China, the Bo Xilai trial looks like the Chinese news event of the year, one of the preoccupations of Western media, along with corporate corruption and the clampdown on American and European companies. Yet these issues are no more than sideshows to the most important economic event of recent times, the unveiling and ratification of a major program for reforms for the next decade, which will occur at the Chinese government’s third plenum in November. The reforms promise to bring another great leap forward in China’s dramatic ascent.
In China, the political lens is focused on Bo Xilai, the disgraced former commerce minister and party chief of megalopolis Chongqing. While Bo’s contestation of the charges of bribery and abuse of power gripped the attention of the social media this week, Bo will probably not be a free man again and certainly not a public figure.