In The News

Worldwide Effects of Sinking Dollar

David R. Francis November 22, 2004
As the value of the US dollar continues its dive, observers worldwide continue to debate the consequences. The gaping US trade deficit is seen as the culprit for the devaluation, which has sped up markedly since President Bush's re-election. Most recently, concerned G20 officials called for the United States to rein in its federal deficit. As Chinese citizens, fearing a revaluation of...

Dollar Decision a Sign of Distress

Jane Bussey October 28, 2004
Days after his humiliating tumble off a stage, Fidel Castro announced a decision to dedollarize Cuba – yet another sign of the growing strains on the economy. After November 8th, Cubans may still hold dollars and swap them for convertible pesos – but will have to pay a 10 percent commission to the government. Cuba, already short on cash, does not earn enough foreign exchange from investment,...

Time to Prick the Dollar Balloon, Gently

David Dapice October 27, 2004
As the already sizeable US account deficit increases at an astonishing rate, experts continue to debate its consequences. Offering a counterpoint to a previous YaleGlobal article by Hilton Root, economist David Dapice argues that the escalating US debt is not, in fact, innocuous. Asian central banks support over half of the US debt. However, if current trends persist, US needs will be...

G-Force

October 11, 2004
Building on the creation of the G7, several countries have conspired to establish their own G-titled alliances. Although G7 still dominates policy in international institutions such as the International Monetary Fund (IMF) and the World Bank, these "alphanumeric bodies" have largely ceased to have meaning. Perennial problems, such as the perpetual pegging of the Chinese yuan to the...

China: The Missing Member at the G-8 Table

Jeffrey E. Garten June 3, 2004
China's key position in the world economy is increasingly obvious. A slew of indicators, from car usage and steel output to population size, shows that China cannot be ignored. Yet, writes Jeffrey E. Garten, Dean of the Yale School of Management, China will not be attending the upcoming Group of Eight summit in Georgia. Americans and others should wake up to China's importance for even...

Think Twice Before Migrating - The Grass There Won't Always Be Green

Goh Chok Tong May 3, 2004
Singapore seems to be at a low point economically, especially as compared to the emerging regional powerhouses, China and India. However, urges Prime Minister Goh Chok Tong, Singaporeans should not despair over the country's difficulties. With the brain power, technical skill, and sheer perseverance that Singaporeans possess, they can easily overcome the hard times, Goh says. Most...

Free Trade and Outsourcing Are Not the Same

Clyde Prestowitz April 25, 2004
Financial theorists, politicians, and labor groups in the US have recently butted heads over the nature of free trade. Theorists credit skyrocketing amounts of global trade with increased standards of living worldwide, whereas many politicians have decried the loss of jobs overseas due to outsourcing and unrestricted competition. Clyde Prestowitz, president of the Economic Strategy Institute...