The severity of financial crises depends on the presence of "good equilibrium," with a calm market, or "bad equilibrium," when the market overreacts and the crisis snowballs.
By prodding Japan on history, China may cast light on its own inconvenient past and Imperial Japan-like behaviors of late, warns Daniel Twining.
Resistance from the north to Thailand's military rulers will most likely amount to waiting for climate change, writes Duncan McCargo.
The world economic order sustained mainly by the U.S. and other major countries faces many problems 70 years after World War II. The current environment reflects cracks in the system revealed by the growing influence of China and other emerging count...