In The News

Hong Kong Entrepreneurial Spirit Shines On

Pana Janviroj September 10, 2003
Hong Kong's economy is not simply recovering in the wake of Sars, but remains vibrant and growing. By withdrawing the anti-subversion bill that motivated massive protests earlier this summer, the government seems to be prioritizing the revitalization of Hong Kong's economy. Many countries in Asia had closely watched the anti-subversion bill, because its handling had the potential to...

Crumbling Stability

Anke Bryson September 5, 2003
In 2003 Germany will violate the Maastricht "Stability and Growth Pact" for the third consecutive year, but this time the government isn't even sending an apology. Originally championed by Germany itself to check fiscal irresponsibility of smaller members, the pact stipulates that budget deficits may not exceed 3% per year in any of the Euro-Area countries. Now, however, the...

Economic Worries in China as Companies Pile Up Debt

Keith Bradsher September 4, 2003
The Chinese economy's 8% annual growth rate has made it one of the most impressive development stories of the past decade, but its dynamism may be getting out of control. Economic analysts from J.P. Morgan to Goldman Sachs, from US government officials to even China's Central Bank leadership are concerned about overcapacity and bad bank loans. Chinese banks are notoriously unconcerned...

How Washington Can be a Hyper-Power and a Hyper-Borrower

Philip Segal September 2, 2003
What kind of a superpower gets into so much debt that it has trouble pushing around countries that it would love to? The American kind, says Philip Segal, Markets and Finance Editor of the Asian Wall Street Journal. China and Japan - two major buyers of US government bonds - could do great damage to the American economy if they decided to stop buying or to suddenly sell their share of the US...

Australia Plays Down Pacific Union

August 14, 2003
A recent report by the Australian Senate suggested that Pacific micro states should move towards political and economic integration, similar to the European Union. Australian Prime Minister John Howard acknowledged that the report made many important points but denies that the Pacific region is ready or willing to relinquish much national sovereignty. "Let's crawl before we walk,...

Jakarta Blast May Deter New Investors

John Burton August 7, 2003
Before this week's bombing of the Marriott Hotel in Jakarta, Indonesia's economy had been steadily recovering from the 1997 Asian financial crisis, and foreign investors have been arriving in droves. Singaporean companies in particular have been attracted to the country because of increased political stability and a lack of ties to the US economy. The Indonesian government has courted...

Textile Industry Seeks Trade Limits on Chinese

David Barboza July 25, 2003
Over the past two years, 270,000 American textile and apparel workers have lost their jobs. The industry is blaming China, accusing the country of unfair trade policies and demanding that the Bush administration take action to protect American manufacturers from being entirely destroyed. According to the agreement made when China entered the WTO, the United States can put quotas on certain...