Tensions have flared up once again in Nigeria. The violent attacks on Christian churches were carried out by a group which calls itself “Boko Haram” (“Western education in forbidden”) that appears to have some measure of contact with other Muslim groups opposed to western influence in Africa. The violence seems to map closely with the demographics of Nigeria–Christian populations in the south, Muslim populations in the north. These simple categories, however, mask deep socio-economic cleavages in Nigeria. Do not attribute the violence to religion alone.
Christine Lagarde, head of the IMF, issued a rather stark warning on the health of the global economy. The longer term view presented by her is sharply contrasted with the more benign short term view of the markets. For my money, I would go with Lagarde’s view–the global economy does not appear to be heading in a good direction.
We should expect some cat and mouse games between the US and Iran as Iran begins naval exercises in the Straits of Hormuz. Ships will pass too close to each other and accusations will fly. Let’s hope that the games do not get out of hand.
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