Daily Archives: April 30, 2014

The differing responses to the Ukraine crisis
This week, German Chancellor Angela Merkel is in Washington for talks with President Barack Obama, and Ukraine will top the agenda. Washington has led the way on sanctions, imposing asset freezes and travel bans on dozens of senior Russians and scores of companies, in an attempt to show Russia’s President Vladimir Putin that his interference in Ukraine will bring rising economic costs. The EU on the other hand, seems deeply resistant to tougher economic sanctions, given the much more important ties between Europe and Russia. In this week’s podcast, Ben Hall, world news editor, is joined by Geoff Dyer, Washington correspondent, and Stefan Wagstyl, Berlin bureau chief, to discuss how the two leaders should handle the escalating situation

  • Gideon Rachman thinks Narendra Modi is the jolt that India needs, but in his risposte Edward Luce argues that the risk is not worth taking.
  • China is poised to pass the US as the world’s leading economic power this year. This moment has come sooner than expected: FT economics editor Chris Giles explains the working out.
  • David Gardner thinks Bashar al-Assad is more vulnerable than he looks.
  • The recent freeze in east-west relations has revived interest in Moscow’s Cold War museum.

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Gideon Rachman

Vladimir Putin still has some friends in the West. This week, he was seen sharing a comradely hug with Gerhard Schroeder, the former German chancellor, who was celebrating his 70th birthday, at a party in St. Petersburg. The image of Schroeder whooping it up with the Russian leader is a reminder of how lucky Germany and the West is that Schroeder is not handling the Ukraine crisis – since he lost office to Angela Merkel in 2005. As a former East German, Merkel has few illusions about the nature of a Russian government, run by ex-officials of the Soviet Union. As the saying goes, she has “eaten in this kitchen before.” Read more >>

Edward Luce

If you want the best case for Narendra Modi, you can do no better than read my colleague Gideon Rachman’s latest column – India needs a jolt. After a decade of prevarication under Prime Minister Manmohan Singh (to put it politely), India’s economy is languishing and investors have lost confidence in its reform story. Delhi is almost permanently mired in corruption scandal and politics has turned into a national joke. India desperately needs a change. Who better than Gujarat’s chief minister to give the subcontinent the decisive governance it craves? Read more >>

Containers sit stacked on a cargo ship berthed at Qingdao Port in Lianyungang, China

According to the latest estimates from the International Comparison Program, hosted by the World Bank, China is poised to overtake the US as the world’s largest economy later this year, toppling it from a perch it has held since 1872.

That is several years ahead of all previous estimates and reflects just how much more important the Chinese economy is now to the rest of the world. Read more >>