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Sunday, April 20th, 2014

GM’s recall list grows as 13 deaths are linked ...

Senator
Mary Barra, the CEO of General Motors (GM), came under fire as she appeared before Congress on April 1, to answer for the corporation’s prolonged failure to fix an ignition switch defect, recently linked to 13 deaths. GM led global vehicle sales for 77 consecutive years from 1931 to 2007. Yet, following the 2008 economic recession, the Detroit-based corporate giant declared Chapter 11 bankruptcy in 2009, which led to a $49.5 billion bailout by the U.S. government a year later. In mid-February, GM announced a string of recalls predominantly concerned with an ignition switch problem. The faulty part caused 13 deaths since 2005 and more than 2.6 million cars have been deemed unsafe to drive. T…
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Is voting enough? Ukraine, Venezuela and Egypt

Ukraine2
The crescendo of protests in Ukraine finally climaxed in the ouster of Prime Minister Viktor Yanukovych on February 22, 2014. The conflict has a characteristic flavor that connects it to the new breed of revolution that has manifested globally since the Arab Spring began in 2010. Social media has brought these new revolutions into the homes of people worldwide, and battles of opinion are being waged in comment sections with a ferocity nearly matching that in the streets. There is, however, one important distinction between the current situations in Ukraine, Egypt, and Venezuela that separates them from the bulk of the earlier revolutions. The governments in these three countries were popula…
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Venezuela seeks economic and social change in 2014

Venezeula2
On January 15th, Venezuelan President Nicholas Maduro announced the rearrangement of his economic team during his annual address to the National Assembly. The move comes at a time when Venezuela’s oil-rich economy is laboring due to an emerging black market and a high inflation rate. While the Maduro government recently announced a 10 percent increase in state pension benefits and minimum monthly salaries, this move is not expected to counteract the countries rising inflation rate and growing food shortages. In an effort to bring stability and insight to a Venezuela’s economy, Maduro will promote previous Public Banks Minister Rodolfo Marco to the position of Finance Minister, while sh…
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A space race in the developing word: India's la...

Mars
On November 5, 2013, the Indian Space Research Organization (ISRO) launched a rocket that is projected to reach Mars in September 2014. The object of the mission, called the Mars Orbiter Mission (MOM), is to use a satellite to identify the geological source of methane that is present in the Martian atmosphere. If India’s vessel, called Mangalyaan, successfully reaches Mars, it will be the fourth space program to achieve this feat, behind the Soviet Space Program, the U.S. Space Program (NASA), and the European Space Agency. As the Indian government only announced the mission in 2010, the ISRO put together the project in a relatively short period of time. MOM cost just less than $75 million U…
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China leading the way towards social and econom...

Chinaafrica
With many countries suffering from unlivable social and economic conditions around the world, traditionally, Western democratic governments have been at the forefront of providing international aid. In Dead Aid, international economist Dambisa Moyo explains, “Since the 1940s, over $1 trillion (USD) of aid has been sent to Africa, which is nearly $1,000 for every man, woman and child on the planet today.” However, more Africans are starving today than in the 1940s and governmental corruption has gotten progressively worse. Accordingly, Africa’s poverty eradication is being increasingly aided from elsewhere. In a recent Organisation for Economic Co-operation and Development (…
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Will Chapter 9 bankruptcy save Detroit from its...

Minaakrami_detroit
Once the cradle of the United States automotive industry, the city of Detroit filed the largest municipal bankruptcy in American history on July 18 with $18 billion in debt. “This is a difficult step, but the only viable option to address a problem that has been six decades in the making,” said Michigan Governor Rick Snyder, who authorized the move after a recommendation from the emergency financial manager, Kevyn Orr. However, the city’s unions view the matter differently: unions have described the bankruptcy filing as a power grab by Orr. For the past month, Orr and the city’s unions have been negotiating to reach a solution to the city’s financial woes. However, the city filed…
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