In The News

Trying to Stay Competitive, Cambodia Joins WTO

Keith Bradsher September 1, 2004
In a few months, the global textile industry will face a major restructuring. The 1974 Microfiber Agreement will be abolished, and with it, production quotas that have artificially protected manufacturers from competition. For many developing countries whose economies rely almost exclusively on textiles, the pressure will be fierce. In an effort to remain competitive in the soon-to-be...

Volkswagen Risks Clash with Union

Anke Bryson August 27, 2004
Labor strife in Germany continues, as Volkswagen, Europe’s largest carmaker, proposed a plan to reduce personnel costs by US$2.4 billion dollars. The proposal, which includes among its provisions a two-year pay freeze for VW employees, has fanned the flames in an already heated environment. Earlier this summer, both Siemens and Daimler Chrysler, after turbulent negotiations, forged deals with...

Koizumi May Reopen Territory Row with Russia

David Pilling August 25, 2004
Japanese Prime Minister Junichiro Koizumi may aggravate an ongoing territorial dispute with Russia. Mr. Koizumi indicated his intention to "inspect" four islands, the sovereignty of which has been contested since World War II. With Japanese business interests in Russian fuel pipelines and possible infrastructural investments in Siberia, this is a crucial juncture for Russo-Japanese...

Fighting Over the Best and the Brightest

Carsten Germis August 20, 2004
Losing one’s intelligentsia is not just the bane of developing countries. Germany, which boasts the largest economy of Europe, has sent so many of its sons and daughters to America in academic capacities that now Germans make up the third-largest group of foreign academics in the US. In raw numbers, that puts Germany’s US academic expatriate community at 20,000, with three out of four...

Singapore, Vietnam Team Up on Third-Party Projects

Audrey Tan August 18, 2004
In a synergistic effort to spur economic development, Singapore and Vietnam have made progress on a new initiative to encourage foreign investment in their respective economies. Winning joint contracts from Japanese investors, the two countries hope that by cooperating they can take advantage of Vietnam's strength in manufacturing and Singapore's connectivity to the global economy....

German Firms Applaud Libya Deal

Aaron Kirchfeld August 13, 2004
Though Germany and Libya already enjoyed “consistently good to very good economic relations,” the door to increased bilateral trade opened wider recently when Tripoli agreed to pay $35 million to the non-American victims of a 1985 Berlin discotheque bombing. Germany has responded by guaranteeing credits for German exports to Libya. The prospect of increased trade has piqued the interest of...

Japan Elbows its Way into Far East: Not Only for Energy

August 12, 2004
As a country poor in natural resources, Japan has had to look elsewhere for its energy needs. Although most of Japan's oil imports presently come from the Middle East, instability in the region has prompted Japan to look to relatively oil-rich Russia as an alternative source. Through building good relationships with the local government, investing in the area, and fostering a positive...