The US economy has taken a tumble faster than anticipated. This was confirmed by the International Monetary Fund when it released figures on December 4 showing that China has surpassed the US as the world's largest economy. America had been the world's dominant economic power since 1872. No more.
Until Muslims present viable economic solutions, they will not achieve the revelational purpose of Islam which is to construct a society based on the sovereignty of Allah (swt) and justice. Islam is a way of life that takes into consideration the human soul and the material body. Part of that material body is the economic necessities of a human being which Islamic law addresses.
When, like Kyrgyzstan, you are a small land-locked country in a volatile region, with a poorly-equipped army, you do not engage in battle highly-motivated groups that even mighty Russia is not confident of defeating and that are not targeting you.
Prime minister Mahathir Mohamed of Malaysia may have made a strategic political blunder by tying his political future to solving the deepening currency and stockmarket crisis. He has thus handed his detractors the opportunity to undermine his position.
THE oil-rich countries of the Middle East lag behind some of their more impoverished neighbours in science and technology, according to a survey of science in the Arab world published by UNESCO, the United Nation Educational, Scientific and Cultural Organisation.
The economy of the Islamic State, according to Sadr, is divided between that of the individual as the vicar of God (khalifah), and the ruler as the witness (shahid) who presides over the application of the laws of God. The economic structure of the Islamic State thus consist of private property and public property. However, one should not think that the economic structure of the Islamic State is some sort of combination of capitalism and socialism. Sadr strongly rejects this misconception.
