The global economy of today exists in two parallel realms: the surface economy that is circumscribed by international and domestic regulation and oversight; and the shadowy economy that is large, amorphous, and fast-growing. Money laundering feeds this shadow economy, and it creates many domestic and international security risks, including the financing of nefarious non-state actors, promoting corporate and individual tax evasion, worsening economic inequality, and sustaining organized criminal activity. Leaks in recent years such as the Panama Papers, Russian Laundromat, and FinCEN only give us a glimpse of the problem. Yet the main bodies in charge of oversight of this space, such as the Financial Action Task Force (FATF) have a very limited focus, and even a political agenda of their own. For example, the FATF ranked United Kingdom’s (UK) compliance as the best in the world, although it is still marred by inefficiencies and is a work-in-progress.
Israel-Iran Standoff and Global Oil Prices
The war on Gaza since early October last year has had a limited impact on global oil prices, unlike the spike in oil prices that followed the war in Ukraine, as neither Israel nor the besieged Gaza Strip are significant oil producers.
For context, global Brent crude oil prices increased briefly after the initial violence in early October
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Adapting Air Defence: Reemergence of Anti-Aircraft Artillery in Modern Warfare
Rapid advancement in science and technology has not only reshaped modern warfare but also transformed the contemporary battlefield. New technologies being more precise, and lethal have made many existing weapon systems redundant requiring replacement.
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Kalyani Devaki Menon, Making Place for Muslims in Contemporary India
Kalyani Devaki Menon’s ‘Making Place for Muslims in Contemporary India’ is an insightful gateway into the challenges faced by Indian Muslims to survive in a country treading on the path of exclusionary and majoritarian politics. Working currently, as a Professor of religious study at DePaul University, Chicago, Menon, has previously also written a book titled ‘Everyday Nationalism’ on the religious politics of Hindu rights.
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