In The News

US Recovery, Asian Surge Will Boost World Trade 7.5%: WTO

Ravi Kanth April 6, 2004
The US economic recovery and Asian trade growth should push global trade higher this year, according to the World Trade Organization (WTO). Yet such growth is susceptible to three risk factors: the level of the US current account and budget deficits; the extent of European economic growth and the value of the Euro; and the volatility of oil prices. With the US current account deficit set to reach...

Wait for US Residency Soars Over 18 Month Span

Nina Bernstein April 6, 2004
The time to approve green cards and formal travel documents has quadrupled in the US as a result of September 11. The main reason: thousands of personnel who formerly processed applications are now being used for security checks. As a result, a document that once took two months to process now takes seven. While the Bush administration has promised to cut down the wait time, results have been few...

EU Food Rules Test African Development

William Wallis April 6, 2004
New food safety regulations, implemented by the European Union (EU), will make it mandatory "for all fruit and vegetable products arriving in the EU to be traceable at all stages of production, processing and distribution." These new regulations are intended to ensure against potential public health scares such as the mad cow disease that have plagued the EU in recent years. Yet, the...

Chinese Fuelling Local Growth

Satawasin Staporncharnchai April 5, 2004
A growth in China’s demand for raw materials has affected the Asia-Pacific region, and the global shipping industry at large. The Asian giant’s phenomenal economic growth has fuelled a surge in demand for imports, resulting in higher cargo taxes and freight rates. This demand is expected to increase as China begins to prepare to host the Olympics Games in 2008 by building new facilities. The...

Innovative India

April 5, 2004
As the American elections draw near, the Economist takes a refreshing look at the outsourcing debate. Examining advances made in research and development (R&D) in India’s high-tech centers such as Bangalore, the article reports that many Indian IT professionals are rightly vexed about the portrayal of their country as merely “a source of cheap labor and a telecommunications link.” Although...

World Trade Growth Picks Up Speed

April 5, 2004
The World Trade Organization (WTO) is reporting a 4.5 percent increase in trade in 2003, up 1.5 percent from their original cautious estimate. The gains are due, analysts say, to the partial recovery of the American economy and very strong growth in Asia and the post-Soviet states. China alone saw a 40% increase in merchandise imports and a 35% increase in exports. Numbers for 2004 are looking...

Modern Mercenaries on the Iraqi Frontier

James Glanz April 4, 2004
In what appears to be a modern manifestation of old mercenary platoons, 'risk management' firms are filling the security gap in a tense Iraq. Former military men from around the world are earning large salaries to protect the development agencies and businesses that have recently entered the post-Saddam state. Though one would think that 'risk management' forces would...