North Korea has announced that it is now in “a state of war” with South Korea, and that all decisions will now be made according to wartime protocol. It’s not clear what the declaration means, since the North announced a few days ago that was abrogating the armistice with the South, indicating that the war which ceased in 1953 was now renewed. I haven’t read anything so far which makes the rhetoric out of the North any more comprehensible. It is difficult to figure out how seriously one should take the rhetoric.
The International Monetary Fund has issued a new report, blasting the nations of the world for granting economic subsidies for fossil fuel production. The IMF has a long track record of attacking subsidies, but typically it has focused on government subsidies for poor people. This report, however, focuses on not only tax benefits for fossil fuel producers, but also includes the costs of not adequately pricing the cost of carbon pollution. With this expanded definition of subsidies, the IMF found that oil and coal producers receive a global subsidy of roughly $1.9 trillion.
The Economist has published a fascinating report on the growth of Indian military power. The numbers are straightforward: the Indian military is one of the largest in the world. But Indian strategy toward the world is not clearly defined. Who are the enemies? What is the strategic vision? A very good analysis.
World Politics News 
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