This Week in Geopolitics, September 2017
September 18, 2017Last May, I spoke at Mauldin Economics’ Strategic Investment Conference and made two points on the situation on the Korean Peninsula. I said that the United States and North Korea had entered into a major crisis and that the crisis would likely lead to war. The crisis ensued, but war has not broken out. As North Korea test-fired another missile that flew over Japan late last week, it’s time to review what happened and why the war hasn’t materialized.
September 11, 2017Low global energy prices have been a strain on the finances of many oil producers, but they’ve hit Russia particularly hard. Oil and gas accounted for 43% of Russia’s government revenue in 2015 and this figure was expected to drop to 36% in 2016, according to the World Bank. But this declining percentage doesn’t mean the government has become less dependent on energy; it’s simply a reflection of low energy prices.