In The News

Democrats Threaten NAFTA, But Pact Is Here to Stay

Andrew C. Schneider April 7, 2008
Candidates promise to re-open a free-trade agreement like NAFTA – to attract voters from states with high unemployment rate, where concern about the loss of high-paying manufacturing jobs is rampant. “Renegotiation would cause more problems than it would solve,” explains Andrew Schneider, associate editor of the Kiplinger Letter. In reopening the agreement, the US would not be alone in demanding...

Paulson Financial Regulation Reform Plan Already Faces Discounting

April 4, 2008
The mortgage-backed securities crisis has resulted in turmoil in the global markets, but politics could get in the way of any quick fixes of the US financial system, reports Thomson Financial News. Three short-term recommendations in the proposal from Treasury Secretary Henry Paulson include expanding a presidential working group on the financial markets; establishing a federal commission to...

Rice Hoarding Pressures Supplies

James Hookway March 31, 2008
Rice is a staple food product for Asians, and its price has more than doubled in the last year. Anticipating higher prices, rice farmers are hoarding crops, which adds to price increases, reports the Wall Street Journal. Contributing to shortages are rising fuel prices; flooding due to climate change; development of farmland for homes and golf courses; reduced global stocks; rising affluence...

Businesses Say New York’s Clout Is Emigrating, With Visa Policies to Blame

Patrick McGeehan March 31, 2008
Among a company’s most valuable assets is its talent, particularly for financial and technology firms. A report by a business-interest group, Partnership for New York City, argues that America’s visa policies, including caps on the number of highly qualified workers and tough restrictions on extended stays, endanger New York City’s ability to attract and retain top talent. Immigration opponents...

Regulating the Global Commons – Part II

Michael Richardson March 28, 2008
As public pressure builds to curb climate change, every industry that relies heavily on fossil fuels can expect new regulations. This two-part series examines the challenges of regulating global waters and skies. So far, the shipping and aviation sectors of the transportation industry have kept a low profile, because they crisscross national borders and governments do not want to increase the...

The Fungus That Conquered Europe

John Reader March 27, 2008
Globalization delivers both problems and solutions, and parallels can be found in the Great Potato Famine of 1845-46 and the current subprime mortgage crisis. The fungus, after originating in Mexico and spreading throughout the US, attacked Europe’s potato fields in the mid-1840s and led to widespread famine. The crisis prompted Britain to dismantle bureaucratic and protectionist Corn Laws that...

Nauru Scrambles as Australia Closes Island’s Detention Center

Nick Squires March 27, 2008
A national policy of accepting asylum seekers as refugees is complex. On one level, the policy can be viewed as an endorsement of dissident political claims. On another level, the policy is economic, benefiting some social groups and causing hardship for others. Countries that create detention centers outside their borders do not eliminate the challenges. In 2001, Australia’s government...