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The resource-based Australian economy has greatly benefited from massive iron ore exports which have supported China’s economic boom. “China takes 25% of Australia’s exports and iron ore accounts for 60% of all the goods Australia sells to China. One reason Australia avoided recession during the global downturn of 2008-09 was that it had a well-run banking...
In response to the growing threat of an Israeli military attack, Iran is planning a massive defense drill in October, involving their air defenses, army and revolutionary guard (Reuters, September 1, 2012). “Today our systems are prepared in a serious way for modern air threats,” noted Iran’s air defense commander (ibid.). An Iranian naval commander said that...
Recently, a series of earthquakes struck California and El Salvador—adding to a worldwide number of earthquakes in various places. Imperial County, California, experienced many tremors ranging from 2.0 to 5.5 in magnitude. “By 5 p.m., the USGS had recorded about 300 earthquakes, and the count continued to rise throughout the evening” (LA Times, August 26,...
Considerable research supporting male circumcision has surfaced over the last decade. As a result, The American Academy of Pediatrics just reversed its 13-year stance.
Egypt is becoming more independent from the United States. “The Muslim Brotherhood’s election platform called for a reworked relationship with Washington based on ‘independence of decision’ and an end to ‘subordination’” (CNS News, August 22, 2012).
The polarizing debate of whether or not the Australian states should “go it alone” on the issue of homosexual marriage rose to the fore last week as rallies were held in most major cities by those who want to change the definition of marriage. State premiers from South Australia and Tasmania along with the Chief Minister of the Australian Capital Territory (...
Tensions between Israel, Iran and Lebanon are heating up.
Many assume that Greece will be forced to leave the EU and that Spain and Italy must follow. This could leave Germany with a trillion euro liability—something few Germans want their nation to be responsible for. Experts and the European press are starting to suggest that the only really feasible option for Germany may be for it to leave and let the EU “sink or...
Spain and Portugal are experiencing one of the worst forest fire seasons in recent history. Forest fires have consumed three times as much area in Spain (January 1-August 5) as they did last year. Fires also rage fiercely in Spain’s Canary Islands. About 10 percent of the island of La Gomera has burned, including a quarter of a UNESCO World Heritage nature...
In a recent interview, former British Prime Minister Tony Blair told the German Die Zeit newspaper that it is clear that the eurozone crisis will lead to “powerful political change of the EU,” adding, “And on this point, I am deeply worried that Britain could decide by referendum to leave the whole process” (Fox Business News, August 8, 2012). Are we seeing the...