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The rules of engagement in warfare were clear in the bad old days. Generally speaking, a nation declared hostilities and then launched an attack. But now, the huge sovereign wealth funds of global powers have changed the rules...

The most worrying thing about the current credit crisis is the overwhelming sense of unknowing: who is going to end up taking the biggest hit? And how long will it last? No one seems to be able to offer a straight answer to either of the questions...

In The World Is Flat: The Globalized World in the Twenty-first Century, Friedman argues that the beginning of the twenty-first century will be remember not for military conflicts or political events, but for the current era of globalisation...