In The News

While some African nations can count themselves as rich in natural resources, a great proportion of raw materials produced in these mainly poor countries are exported to other continents for manufacture into finished goods. While Africa has potential for industrial development, the obstacles to growth are daunting. To begin with, the lack of infrastructure and training are widespread problems...

In developing countries, farmers often rely on growing cotton for their livelihoods. But heavy loans, power and water shortages, and natural disasters have made growing cotton a dangerous venture. Farmers facing failure in India often resort to suicide. Meanwhile wealthy governments like the US subsidize their cotton farmers, contributing to a global glut in cotton and sinking prices. Monopoly...

As China’s bilateral trade surplus with the US continues rising in record-breaking fashion, there has been growing speculation that Beijing manipulates currency-exchange rates in its favor. However, Stanford economist Ronald McKinnon argues that China’s motivation for pegging the renminbi is to secure monetary stability rather than achieve an undue mercantile advantage in world export markets....