In The News

Don't ignore 'North Korea Effect'

William Pesek Jr. February 11, 2003
In this commentary in Singapore's Straits Times, William Pesek Jr. argues that "The West may be preoccupied with Iraq, but those who ignore risks from North Korea could be hit on the blind side by declining Asian markets." The 'North Korea Effect' he describes anticipates North Korea developing and testing nuclear weapons, setting off an economic chain reaction. A...

Increased Globalization Pivotal to Japanese Reform

Richard Katz December 4, 2002
Japanese exports have been at the forefront of the globalization of its manufacturing sector, and yet the Japanese economy as a whole remains remarkably insular. If Japan is to dig itself out of its current deep economic crisis, the solution has to be further opening of the country and increased globalization. - YaleGlobal

A Valuable Stick

October 1, 2002
Private creditors who hold the sovereign debt of nations argue that collective action clauses are the best way to deal with countries on the brink of loan default. Collective action clauses entail a majority decision among creditors that will prevent individual creditors from blocking debt restructuring. When a country faces a cash-flow problem, creditors tend to withdraw funds or block debt...

Brazil Relief Rests on Hopefuls' IMF Stances

Raymond Colitt August 14, 2002
After the 1998 Russian financial crisis and Argentina's economic collapse, the International Monetary Fund's latest target for support is Brazil’s struggling economy, lending that country 30 billion US dollars last week. This seemed like good news for Brazil which hoped that the IMF loan would attract international investment. However, despite the IMF's support, international...