In The News

Chinese are Taking to the Card

Goh Sui Noi July 31, 2003
The rise of a young, urban middle class and the increasing numbers of credit card shoppers is taking China's financial world by storm. China's fast-emerging middle class is generally composed of young, educated, city dwellers with good jobs and fast paced lifestyles. Ten years ago, when the market economy was still new, paying on credit was unheard of. Today, however, more and more...

All's Fair in Love, Trade and FTAs

Honigmann Hong July 31, 2003
Since China's accession into the World Trade Organization, it has indicated that it will not have economic interactions with Taiwan until the 'One China' problem is settled. However, recent statements by a Chinese official seem to suggest Beijing's willingness to engage Taiwan in a free-trade agreement. Although the intentions may not be friendly, the author observes, this may...

US and EU Seek Common Ground on Farm Trade

Guy de Jonquières July 30, 2003
At a recent meeting in Montreal, European and American trade ministers agreed to seek common ground on the issue of farm subsidies before they meet in Cancun in September. Farm trade liberalization has long polarized the US and the EU, and threatens to bring the upcoming WTO meeting to a deadlock. Indeed, although trade representatives from both sides have pledged to be more flexible during...

Vendors Ready for Enactment of Copyright Law

M. Taufiqurrahman July 29, 2003
The word on Indonesia's streets is that police raids on vendors of pirated goods will begin this week. These raids are meant to show the country – and the United States – that the Indonesian government is committed to enforcing a newly passed law protecting copyrights. The law was created in order to avoid economic sanctions from the United States for gross violations of intellectual...

Pentagon Prepares a Futures Market on Terror Attacks

Carl Hulse July 29, 2003
A bizarre new strategy in the war on terrorism is emerging from the headquarters of the US military. The Pentagon is creating an online futures market to predict the likelihood of terrorist attacks and assassinations. With the explicit aim of predicting the effects of US involvement in the Middle East, the program's website will begin registering traders on Aug. 1, and trading will begin...

Bilateral Deals are No Threat to Global Trade

Daniel Griswald July 27, 2003
Critics maintain that the Bush administration's efforts to sign bilateral trade agreements with Chile, Singapore, and a few other small nations threaten the global trading system. However, international trade specialist Daniel Griswald argues that bilateral agreements don't threaten the multilateral system, but advance it. Bilateral agreements not only open markets to US exporters, he...

Textile Industry Seeks Trade Limits on Chinese

David Barboza July 25, 2003
Over the past two years, 270,000 American textile and apparel workers have lost their jobs. The industry is blaming China, accusing the country of unfair trade policies and demanding that the Bush administration take action to protect American manufacturers from being entirely destroyed. According to the agreement made when China entered the WTO, the United States can put quotas on certain...