In The News

Sarkozy Urges French to Play “the Game of Globalization”

Katrin Bennhold September 13, 2007
French President Nicolas Sarkozy urges his nation to adopt business-friendly policies, while continuing to defend its values worldwide. To become more globally competitive, France may have to adjust labor polices that restrict employers from firing unproductive workers and require generous benefits, including long vacations and a 35-hour work week. Still, he couched his comments by noting that a...

US Must Reassert Global Leadership

Samuel R. Berger September 13, 2007
Intent on the war in Iraq, the US has reduced its involvement elsewhere in Asia, South America and Africa. Meanwhile, China and Russia have stepped into the vacuum, warn former Clinton administration officials, Samuel Berger and Eric Schwartz, writing for the Boston Globe. China has provided billions for roads, ports and other projects in nations like Laos, Cambodia and the Philippines, they...

“Fed, We Have a Problem”

Jeffrey Garten September 12, 2007
Governments with checks and balances are accustomed to internal quarrels over the best ways to solve problems. Such is the case for the US in confronting a sub-prime mortgage crisis that threatens consumer spending, credit availability and jobs around the globe. Firms and investors facing immediate losses from the crisis urge the chairman of the US Federal Reserve System, Ben Bernanke, to lower...

Paulson Urges Restraint in Policy on China Trade

Steven R. Weisman September 11, 2007
US Treasury Secretary Henry Paulson warned that any legislation aimed at punishing China could aggravate jittery markets and increase volatility. “Unilateral actions aimed at another nation” – especially a nation that continues to fund hefty portions of US debt – could disrupt the global economy, he warns. Increasing numbers of US firms report logging more revenue from overseas sales than those...

Russia is Building Up Its Power on Feet of Clay

Joschka Fischer September 10, 2007
Russia spans two continents, making it a geostrategic giant. With some of the world’s largest reserves of fossil fuel, the nation is a volatile economic hard hitter. Since the fall of the Soviet Union, Russian politicians have opened to more trade and global negotiations with the US and Europe, but strains of authoritarianism run deep. Europe, concerned about intrusion or bullying, would prefer...

Storm Surge

Bjorn Lomborg September 7, 2007
Extreme weather events spur public worries about global warming, and costs associated with such events have increased steadily in recent years. Yet the high costs are linked to increased development in low-lying coastal areas more so than climate change, suggests author Bjorn Lomborg. Governments have developed a “blinkered focus” regarding ways to slow costs associated with extreme storms and...

The Great Leap Backward?

Elizabeth C. Economy September 7, 2007
China has become a leading polluter in the world, with its citizens suffering from air pollution, decreasing supplies of potable water and reckless development. Consumers around the world buy inexpensive goods from China, but do not pay the true costs. The country has environmental laws, but businesses and local leaders ignore them in order to increase jobs and profits. The nation is capable of...