Five years after the massive Indian Ocean tsunami, which left a devastating trail of death and destruction, millions of people have benefited from the influx of aid by rebuilding stronger infrastructure, social services and disaster warning systems than existed before the catastrophe, according to the United Nations agencies at the core of the recovery effort. The largest emergency relief response in history was prompted by the earthquake off the coast...

This has been quite a decade for global corporate leaders, volatile not only in terms of their actual fortunes, but even more so with respect to the shifting perceptions of society. When the decade began, large corporations and those at their helm were at the peak of their power, flush with riches delivered by the dotcom boom in the US economy as well as the vast opportunities created by easier...

Reading the lines that Environment Minister Jairam Ramesh delivered in the Rajya Sabha on Tuesday and between them, the message is evident. “We have been successful in defending India’s national interests,” he said. “I didn’t go to Copenhagen with the mandate of saving the world or humanity. My mandate was to defend India’s right to develop at a faster rate. For Western countries, it is an environmental issue but for...

Borrowing was both the shaky foundation of global growth and the cause of its collapse. It started with a bust and it ended with an even bigger bust. In between was sandwiched an unsustainable boom. Banks have been humbled. Economists have been found wanting. Geopolitical power began to shift from west to east. That was the noughties that was. It barely seems five minutes ago that policymakers were fretting about the...

The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...