In principle, China’s massive savings, infrastructure know-how, and willingness to lend could be great for developing economies. Alas, as many countries have learned the hard way, Chinese development finance often delivers a corruption-filled sugar high to the economy, followed by a nasty financial (and sometimes political) hangover.
CAMBRIDGE – Secrets may be among the most valuable assets that governments have: the Trojan Horse, the Enigma code, the Manhattan Project, and surprise attacks such as Pearl Harbor, the Six-Day War, and the Yom Kippur War are just a few of the best-known examples. But in some cases, governments’ desire for secrecy is hard to square with the national interest – and may even be among the most dangerous threats to it. The threat is even greater when the secrecy is prompted by the less-than-lofty interests of a foreign government intent on getting its way.
CAMBRIDGE – Secrets may be among the most valuable assets that governments have: the Trojan Horse, the Enigma code, the Manhattan Project, and surprise attacks such as Pearl Harbor, the Six-Day War, and the Yom Kippur War are just a few of the best-known examples. But in some cases, governments’ desire for secrecy is hard to square with the national interest – and may even be among the most dangerous threats to it. The threat is even greater when the secrecy is prompted by the less-than-lofty interests of a foreign government intent on getting its way.