The West accuses Russia of violating the main unspoken principle of the postwar world order – the ban on the redistribution of territory between “civilized” countries. However, this rule has been repeatedly violated in recent decades (for example, witness the emergence of the state of Kosovo on the world political map), when Western countries, acting in the name of the world community, decided that such redistribution is in their interests. The Kosovo precedent, of course, would not justify the actions of Russia in the Crimea, if it were not for one fundamental difference: The peninsula was transferred from one legal jurisdiction to another with practically no bloodshed and no conflict. After all, Crimeans have really always considered themselves to be Russians. The West refuses to officially recognize that the residents of Crimea have a right to self-determination, even though such a right has been declared by all international institutions. It refuses not only because of its reluctance to approve of Russia’s policy, but also  it is obvious that Europe, which is experiencing serious economic problems, is itself experiencing this principle in action: After all, it will have to accept the results of the already announced referenda in Scotland and Catalonia. Even the Venetians, judging by the latest news, are not against restoring their republic.

Twelve years have passed since Jim O’Neill, former head analyst for Goldman Sachs, suggested to the business community that several large and fast-growing economies be grouped together to make investment decisions much easier. Since that time, China, India, Russia, and Brazil have become and see themselves as nations bound by common economic interests and pursuing similar goals. Just how justified the hopes are that they’ve attached to this remains to be seen, but it is already clear today that these states, which recently expanded their ranks to include South Africa, are keeping an eye on both economic and political issues that could become their contribution to the global agenda.
This process is very, important, first and foremost, because the BRICS countries are, on the one hand, intrinsically perceived as non-western (Russia and China were antagonists to the West during the years of the Cold War, India and Brazil were European colonies at various times, and South Africa is a symbol of the struggle between the local population and their alien colonial masters), yet they also strongly depend on the West and play a complementary role to its economic system. If these countries truly intend on becoming the legislators of the world’s economic trends in 30-40 years, they will have to tackle, within that time, the topics that currently dominate global politics. And not tackle them by confrontation with the leading powers, but rather through “creative development” of existing trends.

India, seriously weaken its economic position in 2013, is on the verge of national elections scheduled for this spring. Persis Khambatta, expert of the Center for Strategic and International Studies spoke about the political struggle and what economic challenges and opportunities exist in India in 2014 in an interview to WEJ.

2013 marked another record year for Spanish tourism: The problems of other Mediterranean countries and the attractive consumer prices not only attracted 5.6% more tourists than the previous year, but raised a number of vital questions for the sector.

Over the past year, 60.66 million international tourists visited Spain, which is even more than in 2007, when the Spanish coast was especially popular (58.6 million). Prime Minister Mariano Rajoy was the first to announce the joyous news, even before the statistics agencies. In doing so, he tried to support the positive disposition of the sector and the citizens. He said that tourism would soon get them out of this infamous crisis. In some ways, of course he’s right: 10% of the Spanish GDP comes from tourism and that has been on the rise since late 2012. Worried about political instability in Egypt, tourists changed their vacation plans and headed to the Spanish coast to enjoy the sun. The recovery of demand in the travel business has been a positive factor for several European countries. The tide of tourists has naturally affected the balance sheets: At the end of 2013, the Spanish tourism industry brought in more than €45.1 billion. By number of tourists, Spain overtook China, and came in third after the U.S. and France.

It is expected that the mechanism will allow for the creation of a so-called Single Resolution Fund that will total €55 billion over the next ten years, financed by contributions from banks into national divisions of the fund. This plan is supposed to provide the financing for the process of closing bankrupt banks without the need for funds from small investors. The framework of the SRM also makes the European Commission a regulator for the banking system, complete with the right to decide whether or not to close troubled banks within the EU countries.

European officials enthusiastically approved the plan at the end of last December. “This is great news. It is also in our interest that all banks in the European Union, not just in the Eurozone, were stable. In addition, this compromise finally breaks the vicious cycle between banks and the government,” said Czech Deputy Minister of Finance Radek Urban shortly after an agreement was reached. European Commissioner for Internal Market and Services Michel Barnier himself called the agreement a revolutionary decision that will “finally put an end to supporting banks at the taxpayer’s expense,” referring to the fact that, during the financial crisis, the EU provided financial assistance to troubled banks to the tune of €1.6 trillion.

A canal through Thailand’s Kra Isthmus is a project that could change the economic and political map of Southeast Asia. At a time when the center of global trade and to some extent politics is smoothly transitioning from the West to the East, it is difficult to overestimate the effects of opening a new transportation artery. But while there are many ardent supporters, the project has serious opponents as well.
The idea of constructing a canal across Thailand’s Kra Isthmus dates back to 1670, when the King of Siam asked French engineers to assess the project’s feasibility. But technological achievements in  the 17th century were not enough for the Siamese monarch to implement his idea. The second time there were thoughts of creating a canal came a hundred years later, when it became necessary for Siam to increase its military strength and quickly dispatch ships from the South China Sea to the Andaman Sea. Then in the 19th century, the British raised the issue of construction three times, but in 1897 decided to abandon those plans in favor of preserving the role of the Singapore port. Moreover, Queen Victoria’s subjects forced the Siamese government to sign an agreement prohibiting unilateral implementation of the Thai Canal project. Throughout the 20th century, the Thai government tossed around the idea of building the canal through the Kra Isthmus several times, but has yet to come up with the necessary funds.
Construction of the Thai Canal is once again being actively discussed in the 21st century, and in 2005 information surfaced that the Chinese government was ready to invest $25 billion in bringing it to fruition. But nothing happened. What is so attractive about the idea of the Thai Canal, that for centuries, politicians and businessmen can’t seem to let it be?