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The return of the rising sun

Japan’s launch of a ‘carrier in disguise’ has East Asia pondering the future.
China flexed new naval offensive might, and Japan has responded. Meet Izumo, the largest warship the Japanese navy has built since World War II.
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‘Too big to fail’ banks are going back to the casino with your money

Analysis: Don't waste your time on the Davos forum, which kicks off this week. A bigger economic story already happened in another Swiss town, Basel, where the banks just won huge.
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Red light, green light, Basel 1, 2, 3. (Fabrice Coffrini/AFP/Getty Images)
Whatever lofty pronouncements issue forth from leaders attending Davos this week, nothing’s likely to trump what a little-known bureaucratic agency did in another Swiss town, Basel, just 10 days earlier.
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2014 and the hundred years war

Analysis: The events of a century ago continue to define the modern world and drive its bloody conflicts.
NEW YORK — The idea that World War I can be viewed merely between 1914 and 1918 is absurd. It is the war that has never ended.
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2014: A year of electoral fireworks

A big year ahead for Dilma, Modi, Jokowi and Barry, too.
NEW YORK — Some of the largest nations on Earth — including Afghanistan, Brazil and India, not to mention the United States — will hold important elections in the coming year, any of which could affect the global political landscape profoundly.
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The world in 2014: Balancing the rebalancing act

Analysis: Global risk is lurking for Joe CEO.
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Be prepared for emerging giants like Brazil to rage again as governments face new demands and multinationals face new scrutiny. (Christophe Simon/AFP/Getty Images)
NEW YORK — The world’s largest corporations enter the new year with real trepidation. Why the long face, Joe CEO?
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Don't fear the global economic jargon. We've got you covered

Here’s the latest need-to-know from Wall Street, from tapering to the Volcker Rule and beyond. In plain English.
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New $100 bills are printed at the Bureau of Engraving and Printing. (Mark Wilson/Getty Images)
Are the tapering, forward guidance and carry trade making your head explode? Here's what the jargon's all about.
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Why Israel and Saudi Arabia really hate the Iran deal

Analysis: Israeli and Saudi condemnation of the current first steps on the agreement with Iran goes beyond cynicism.
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Saudi newspapers headlining an Iran agreement. (Fayez Nureldine/AFP/Getty Images)
NEW YORK — As the prospect of a long-term deal over Iran’s nuclear program has gone from remote to possible, Middle East leaders are demonstrating once again why their region remains a graveyard of diplomatic initiatives — and thus the most violent and hateful corner of our planet.
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Jellin’ for Yellen

Analysis: In emerging markets, Bernanke’s replacement atop the Fed is seen as a reprieve — for now.
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Janet Yellen is earning support to become the new Fed chief. (Alex Wong/Getty Images)
WASHINGTON — Little noticed amid the fur flying over Obamacare has been the slow but steady progress of Janet Yellen, the president’s nominee to replace Ben Bernanke as Federal Reserve chair.
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America is losing its allure

Analysis: A disturbing new trend suggests foreign investors may be falling out of love with the US economy.
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The president hopes more foreign firms like Germany's Daimler, which operates this plant in Detroit, will invest in the United States. (Saul Loeb/AFP/Getty Images)
NEW YORK — The numbers are troubling and suggest that traditional heavy foreign investors may have decided their money would best be spent elsewhere.
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Jury's out on Libya? At least it's not Syria

Analysis: Benghazi bickering is a distraction from real progress to be made with Tripoli.
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Two years on, can Libya still celebrate? (John Moore/Getty Images)

WASHINGTON, DC — The Libyan government, weakened by continued divisions among the regional militia groups that toppled the notorious Muammar Gaddafi, braced this week for downbeat assessments of the country's performance two years after the civil war officially ended.

By any fair assessment, Libya's brave effort to forge a tolerant, relatively open society on the ashes of one of recent history's most venal and reckless dictatorships would be deemed a qualified success.

This should be a moment to take a breath, assess progress made, and rededicate US policy to keeping it all moving in the right direction.

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