In The News

Kenya: Globalizing with Flowers

Jean-Pierre Lehmann April 9, 2004
Although Kenya has attracted some foreign dollars through tourism and export-based flower and tea industries, a majority of Kenyans remain mired in poverty. Jean-Pierre Lehmann, founding director of the Evian group, argues here that although its future could be bright, Kenya has not yet exploited its substantial political and economic assets in a way that will allow it to fully tap into...

Asian Central Banks Consider Alternatives to Big Dollar Holdings

Phillip Day February 5, 2004
South Korea, Thailand, Taiwan, China and Japan say they plan to shift out of US treasuries. The reasons vary: for some bankers, Treasuries are not bringing the required rate of return, particularly with a depreciating dollar; for others, now is a good time to pay down debt or help finance domestic industry. But given their large holdings, Asian countries need to ensure that any sell-off does not...

Africa's Potemkin Deception

Michael Holman January 19, 2004
Just as the Russian Prince Potemkin once created mock villages in the Ukraine and the Crimea to convince Catherine the Great of her empire’s health, so may the continent’s modern benefactors be deluding themselves and the world about its progress, argues Michael Holman, former Africa editor of the Financial Times. Sub-Saharan Africa remains mired in poverty, disease, and debt, yet manufactured...

Asia's Security Depends on Opportunities for All

Surin Pitsuwan January 15, 2004
Since 1997's economic crisis in East Asia, many countries in the region have struggled to cope not only with economic problems but also pressing security issues. Surin Pitsuwan, former foreign minister of Thailand, writes here that Asia's security problems are deeply intertwined with its economic and political woes. Education, nutrition, healthcare, and basic social services are all...

Follow the Leader on Iraqi Debt

Timothy W. Guinnane January 15, 2004
In trying to rebuild a shattered Iraq, Washington is asking other governments to reduce or restructure debts owed them by the war-torn country. With over $120 billion at stake, this is not a small request. Still, debt reduction is an important goal, says Yale economic historian Timothy W. Guinnane. As in post-WWII Germany, he writes, debt reduction could facilitate Iraq's economic rebirth...

France and Germany Join U.S. in Effort to Reduce Iraq's Debt

Craig S. Smith December 17, 2003
US President George W. Bush's envoy on Iraqi debt relief, James Baker III, seems to have already proved his credentials. After talks with officials in the French and German governments, Baker received assurances that those two countries would do what they can to lessen Iraq's debt burden, which is estimated at $120 billion. $40 billion of that is owed to nations within the so-called...

Saddam in Custody Offers New Opportunity

Shada Islam December 17, 2003
When Saddam Hussein was in power and was defying the UN, the US and its European allies wrangled over how to bring him into compliance. Now with the Iraqi leader in American custody there is a new opportunity to repair transatlantic relations. But there is also a fresh new hurdle. Writing from Brussels, veteran EU watcher Shada Islam says that the Pentagon's announcement that only nations...