Science & Technology

In Iran, officials blame the sanctions for the economic crisis, while in the United States, officials blame the Iranian government. There is no denying that Iran’s economy has serious problems that have nothing to do with sanctions, but there is no doubt that the current crisis is the result of the sanctions. The same economy was able to expand by 18 percent in the two years that sanctions were partially lifted as a result of the 2015 nuclear deal. However, regime-change advocates in the United States who hope that sanctions will precipitate economic collapse will be disappointed. Economies do not collapse—they shrink. How far Iran’s economy will shrink and how Iran’s leaders and its people respond to the contraction are the real questions. Will the economy bottom out in 2019 or continue to slide for several more years? 

Texas Congressman Joaquin Castro joined Harvard Kennedy School Professor Nicholas Burns in a discussion concerning the role Congress should play in foreign policy in the era of President Trump. Castro discussed his upbringing and the civic conscious he gained at a young age alongside his twin brother Julian Castro, which encouraged him to eventually pursue a career in public service. The conversation covered a wide range of foreign affairs topics including immigration, trade, and terrorism. Castro took questions from the audience and voiced his concerns about a variety of global developments and threats and his believe that Congress should take a more active role in these issues.  

Elon Musk jolted markets and shareholders when he tweeted his intention to take his electric car company, Tesla, private. Saudi billions, he proposed, could help the company escape the pressures of being publicly listed. In a blog post, Musk said that “the Saudi Arabian sovereign wealth fund [had] approached [him] multiple times about taking Tesla private”.

World Humanitarian Day, which takes place on 19th of August every year is a reminder for us to appreciate those who serve others, and to value the survival, well-being and dignity of people affected by crises.

The small open economies of the Gulf and Southeast Asia are pioneers in the establishment of

Sovereign Wealth Funds (SWFs). The SWFs of countries like Qatar and Singapore are among the

world’s largest in terms of total asset size relative to Gross Domestic Product. This article looks

at the different compulsions behind the setting up of SWFs by small open economies.