In The News

Deflating Bush's China balloon

William Pesek Jr. December 17, 2003
The Bush Administration is pressuring China to float its currency, the yuan, instead of pegging it to the US dollar. Administration officials argue that the yuan is currently undervalued and is thus hurting the US economy. This week, Alan Greenspan, the US Federal Reserve chairman, said that a rise in the relative value of the yuan would have little effect on US employment, as companies would...

The Siren Song of a Two-Speed Europe

Heather Grabbe December 16, 2003
In a caustic critique of France and Germany's proposal to form a 'core Europe', Heather Grabbe, deputy director of the Center for European Reform, argues that such a plan would only damage the dream of an integrated Europe. The economic viability of the European Union is already under threat from Berlin and Paris' refusal to pay fines for economic transgressions earlier this...

Donors Warn of Lost Foreign Expertise

Rungrawee C Pinyorat December 12, 2003
Believing it has 'outgrown' the need for international donors' assistance, the government of Thailand has announced that it will no longer accept technical assistance from foreign countries. Once a recipient of Official Development Assistance (ODA) from countries such as Australia, Thailand has refused grants and soft loans for some time. The rejection of the third form of ODA –...

Readying for Development

Nevine Khalil December 12, 2003
President Hosni Mubarak traveled from Cairo to Geneva for the first World Summit on the Information Society (WSIS) with one message: African, Middle Eastern, and Latin American states must work together to develop their capacities as "IT-savvy" states. President Mubarak envisions a well-integrated system of cooperation, where nations can help each other's development through...

'Hasten Slowly' in Reviving the Doha Round

Ernesto Zedillo December 12, 2003
Reviving the Doha Round of the World Trade Organization (WTO) after the debacle in Cancun will not be possible if negotiators pretend that nothing has happened. Ernesto Zedillo, former President of Mexico and Director of the Yale Center for the Study of Globalization, argues that further trade talks will only be useful if the participating countries recognize the lessons that should have been...

Self-Inflicted China Syndrome

Ernesto Zedillo December 11, 2003
In the US, China-bashing seems to have become a popular pastime for some politicians of late. But claims of China 'stealing' American jobs are un-founded, says Ernesto Zedillo. "Chinese exports have not, in general, displaced American goods in global markets," Zedillo writes. "Rather, China's world market share has grown at the expense of other labor-abundant...

War Opponents Denounce U.S. Rules on Contracts in Iraq

Jackie Spinner December 10, 2003
Citing security concerns, US officials have announced that only those countries that supported the invasion of Iraq will be allowed to bid on $18.6 billion in reconstruction contracts. The decision enraged Russia, Germany, France, and Canada, who under the decision will be excluded from much of the biggest nation rebuilding effort since the Second World War. Igor Ivanov, the Russian foreign...