Gold-standard theorists are now dismissed by mainstream economists, while a mendacious facade that modern writings provide a balanced view of the topic masks avoidance of key aspects, much as the devil avoids holy water. Yet a more thorough-going debate is

The numerous proposals put forward at last week's global oil summit in Saudi Arabia to claw back high oil prices required turning a blind eye to one fundamental point - the world is running out of oil. - Michael Klare

US Treasury Secretary Henry Paulson's claim that "our nation has come to expect the Federal Reserve to step in to avert events that pose unacceptable systemic risk" is entirely, entirely wrong. It is supposed to protect the dollar - and

The recent 85% increase in iron ore prices agreed between China's steelmakers and miner Rio Tinto adds edge to Sinosteel's bid for Australian ore producer Midwest. Rival miner Murchison is hanging in with its own offer while hedge-fund king Philip

Get past the X-ray machines, the quizzical customs officials and the rules about what to never say about the "Dear Leader", and you'll soon have crossed the Demilitarized Zone into North Korea. Seoul-native Sunny Lee made the trek, took a

North Korean-made chocolate, potato chips and noodles are appearing on the shelves of the country's top hotel, marking the government's determination to build an independent economy. Requests that partners sign blank-sheet contracts indicate there is a way to go before

Under a new law, Japan can now manufacture and operate its own satellites to support its terrestrial military operations, including ballistic missile defense. While a giant step forward for Japan, the development does not guarantee closer cooperation between Tokyo and

A wave of arrests of prominent persons, including two retired generals, allegedly linked to a nationalist conspiracy to unseat the government has jolted Turkey, just as a constitutional court is to decide on the political fate of the ruling party.

Labor leaders and protest organizers have vowed to continue their months-long fight over the import of US beef into South Korea, even as President Lee Myung-bak pleads with the nation to work together to overcome the crisis. - Donald Kirk

Iranian Foreign Minister Manouchehr Mottaki is in New York to bolster Iran's embattled diplomacy. Mottaki has sounded off on issues ranging from the "Iran Six" and Israel to Tehran's involvement in Iraq. Ultimately, he hinted at his own flexibility by

In the 150 years since China faced the "foreign devils from the ocean" during the Opium Wars, its complex cultural values have been under constant attack, never more so than in the past three decades. And it is yielding. Millions