In The News

France Says “Non!” to Austerity

Jonathan Fenby May 7, 2012
Global markets are seized with new uncertainty as French voters rejected austerity measures, electing François Hollande, the Socialist candidate, as president. The win, if backed by French legislative elections in June, could send the European Union back to the drawing board for plans on rescuing debt-strapped Greece and resolving the eurozone crisis, reports author Jonathan Fenby. Election...

In Europe, North Battles South

Joergen Oerstroem Moeller March 16, 2012
European economies can be divided into two categories – one that’s more competitive and flexible; the other more rigid, struggling to repay debts. With a few exceptions, countries of northern Europe are generally more competitive than the countries along the Mediterranean, explains researcher Joergen Oerstroem Moeller. He urges that the European Union cooperate in enacting structural changes and...

Elites Loot Africa While Foreign Debt Mounts

James K. Boyce, Léonce Ndikumana February 27, 2012
Too often, borrowed monies are salted away from Africa’s most impoverished nations to offshore banks through inflated contracts or kickbacks. The complexities and bank-secrecy laws of the international finance system, combined with a lack of enforcement, assist such transfers, contend James K. Boyce and Léonce Ndikumana, authors of Africa’s Odious Debts: How Foreign Loans and Capital Flight Bled...

In US, Every Four Years, Much Ado Over China

Edward Gresser February 15, 2012
Railing against China’s trade policies has long been campaign fodder in US elections, and a visit this week by China’s presumptive incoming president could turn up the volume. It’s an old pattern, observes trade expert Edward Gresser. The party out of power may rail against unfair trade practices – but once in office, US presidents quickly discover that campaign promises on China are tough to...

For US, Europe’s Debt Woes Are an Ocean Away

Bruce Stokes February 13, 2012
Ignoring the European debt crisis is reckless for a major economy like the US – though riots in the streets of Athens, a reaction to austerity measures, may prompt new heed. Bruce Stokes points to many reasons for the US to act swiftly on the euro-crisis: Nearly 60 percent of overseas profits for US multinationals come from the continent, with 20 percent of US exports headed to Europe; austerity...

The Anatomy of Global Economic Uncertainty

Mohamed A. El-Erian December 28, 2011
Uncertainty is bad for business, and policy gridlock, unsustainable debt and a changing global order promise unsettling times for the developed world, suggests Mohamed A. El-Erian in an essay for Project Syndicate. Countries, corporations and individuals are adjusting to the changing paradigm in diverse ways – deleveraging themselves from others in debt, taking on more debt and toying with...

A Global Consensus to Rise and Occupy

Laurence Brahm December 15, 2011
The year 2011 has given rise to a wave of peaceful protests around the globe. In Tunisia, Egypt, Europe, the United States and now even Russia, citizens organize via social media, convene in public spaces and protest policies that fail to protect the public interest. Alarm is building about governments and corporations that mismanage diminishing resources, argues Laurence Brahm, attorney and...