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  • Politics
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  • US debt

Al Majalla

When the international debt mountain threatens to collapse

With public and private liabilities worldwide estimated at a staggering $353tn and with many gearing up to borrow more, all agree that there is a problem, but few agree on how to solve it

Mohamed Sharki 14 September 2026
US Secretary of the Treasury Scott Bessent speaks during a press conference in Washington, DC on 24 August 2026. KENT NISHIMURA / AFP

The US bond crisis highlights a deeper fiscal rot

Scott Bessent is breaking the glass to check rising bond yields, but the fix is flawed

Keith Johnson 25 August 2026
Supporters of Donald Trump hold a sign about the border wall with Mexico before Trump speaks at a campaign rally in Florida on 11 October 2023. Trump has now allocated $46bn to build it. AFP

Still beautiful? Trump’s tax cuts and spending plans look ominous

The One Big Beautiful Bill Act, or OBBBA for short, will raise the fiscal deficit from 6.4% to more than 7% of GDP, pushing up long-term interest rates. Look to the bond markets for honest reactions.

Toufic Chanbour 16 July 2025
A billboard in the middle of a public street shows the size of the US debt, December 30, Washington, D.C., 2024. AFP

Why US ‘white swan’ debt can't be wished away by cuts

With an average monthly fiscal deficit of $150bn, there are no good options for Donald Trump, who boasts of defaulting on debt in corporate life. Will he do the same with America's $36tn I-O-U pile?

Toufic Chanbour 29 March 2025
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Al Majalla/Reuters
Politics

Trump's midterm loss opens a window for Iran diplomacy

11, Nov 2026

Both Tehran and Washington have powerful incentives to resolve the conflict through negotiations, but actors on all sides have reasons to derail these efforts

Alex Vatanka
The UK's Chancellor of the Exchequer John Healey carries the traditional red budget box as he leaves Downing Street in London on 28 October 2026. Reuters
Business & Economy

Britain's debt squeeze tests the pound’s power

11, Nov 2026

Rising borrowing costs and persistent inflation are narrowing the UK's fiscal room for manoeuvre, exposing the limits of monetary independence

Abdulfattah Khattab
Crew members of the Chinese People's Liberation Army (PLA) navy ship Qi Jiguang wave as their ship prepares to dock on 2 August 2026. JUNI KRISWANTO / AFP
Politics

China eyes greater security role in the Red Sea

12, Nov 2026

Beijing has been expanding its base in Djibouti, the tiny state that sits opposite Yemen across the Bab al-Mandab Strait. With numerous other states also in play, this is a region to watch

Charbel Barakat
Pep Boatella
Science & Technology

Climate change is redrawing national borders

10, Nov 2026

Whether it is rivers, glaciers, or sea-level submergence, the implications of rising temperatures are becoming an increasingly urgent issue for states

Alaa Emara
Culture & Social Affairs

Five Arab novels that paint an AI-dominated future

10, Nov 2026

From machines that develop human emotions to societies governed by artificial intelligence, Arab novelists explore the promises and perils of a radically transformed future

Ibrahim Adel

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