Demagaga

A currency that is neither tied to a natural resource nor controlled by any central authority, bitcoins represent a unique manifestation of the dynamic changes the internet and the connected international culture it has spawned bring to the world of economics and global commerce. As covered previously here on Demagaga, bitcoins can be used to [...]

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Japan’s economy had record high deficits during 2012 due to falling exports to Europe and China in a trade gap estimated at $78 billion.   Newly elected Liberal Democratic Prime Minister Shinzo Abe has proposed an aggressive round of stimulus spending to stoke the fires of economic development in the world’s third largest economy. The [...]

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Stories about North Korea often focus on the hardships endured by its people. Whether it is from famine or persecution, deprivation or political oppression, rarely does a bright light shine out of North Korea. This is perhaps because what few bright lights there are in North Korea mainly glow in Pyongyang (평양), where it seems most, if any, perks to [...]

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In an effort to reduce its dependence on imports of fruit and vegetables, the Gulf emirate of Qatar is pioneering farms in the middle of its vast, barren deserts. Thus far the project has yielded flowers but hopes for the future include full-scale vegetable and fruit production. Hamad Ben Khalifa al-Thani, the emir of Qatar, has [...]

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Newly elected though not unfamiliar to the office, Japanese Prime Minister Shinzo Abe faces a daunting task ahead of him as his Liberal Democratic Party successfully retakes the reins of Japan’s government from the upstart Democratic Party of Japan. The return of the LDP to power in Japan signals a shift back to the post-war [...]

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Preliminary figures suggest that the economy of Japan is heading for a recession after a year with strained relations with China, a major trading partner, and an extremely strong yen currency, both of which have combined to result in a slowdown for the world’s third largest economy. Revised official data on Monday morning showed that [...]

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Francois Hollande, fresh off of his victory over former French President Nicolas Sarkozy, declared during the campaign that the ‘world of finance’ is his enemy and now he has a chance to make good on his promises to dilute the power of the financial sector in French politics. Among his proposals include increasing taxes on [...]

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Limits on foreign currency exchange have led to the development of an underground market for dollars – such is the economic climate in Argentina today. Six months after tightening currency controls, it is not uncommon to find such ‘cash vendors’ in metropolitan areas like Buenos Aires, the capital, and, though illegal, it often is an [...]

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Argentina’s move to seize control of national oil giant YPF (Yacimientos Petroliferos Fiscales) has cheered domestic supporters of embattled Peronist President Cristina Fernández de Kirchner, but the move has angered Argentina’s trans-Atlantic friends in Spain. What began as a business issue has now become a full-blown diplomatic incident. The proposed nationalization of YPF follows Kirchner’s previous [...]

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The move is widely considered an economic catastrophe for Argentina but the nationalization of former state oil enterprise YPF, a hallowed mark in Argentina, will not only address energy and cash shortages but may also shore up the president’s popularity. Yet, many find this most recent move by Cristina Fernández disturbing because, like Venezuelan President Hugo Chávez, [...]

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