In The News

Do US Deficits Threaten Global Financial Stability?

Hilton Root October 13, 2004
Many of the world's leading economists have issued dire warnings that US deficit spending is dangerous not only to its domestic economy - but may actually knock the entire global economy off kilter. Economist Hilton Root suggests that such concerns may be overinflated, if not misdirected. The relative stability of US social and political institutions - in spite of the cavernous deficit -...

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...

Making Globalization Work for All

Jeffrey D. Sachs October 2, 2004
When world leaders met at the UN’s Millennium Assembly four years ago, they laid out ambitious proposals to alleviate global poverty, hunger, disease, and illiteracy. Yet in spite of a rhetorical commitment to development, says economist Jeffrey Sachs, rich nations like the US have been unwilling to commit the necessary aid. Much of the developing world is experiencing rising poverty and needs...

Africa Must Be Heard in the Councils of the Rich

Kevin Watkins October 1, 2004
The World Bank and International Monetary Fund (IMF) have come under intense scrutiny, as the two international financial institutions prepare to meet in Washington this October. Though the agencies greatly influence the shape of the global economy, critics note that their decision-making mechanisms are profoundly undemocratic and favor the interests of rich nations. Wealthy countries maintain...

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...

Globalisation in African continent

Syed Jamaluddin May 18, 2004
A host of factors, including the continent-wide financial, industrial, and political difficulties since the end of the colonial age have reduced economic performance in Africa to often pitiable levels. Despite starting “from behind” and the current obstacles to economic growth, this editorial highlights progress Africa has made, and the future development that can be speeded up by proper...

Danube Blues

Ben Aris April 26, 2004
Soon to become part of the European Union (EU), Hungary is now "busily trying to dump its Soviet-era trappings," says this article in the Guardian. Symbolic moves, like canceling Stalin's honorary citizenship and prohibiting the public display of communist red stars, are being taken to distance Hungary from its communist past. But economic concerns aren't so easy to legislate...