In The News

Drought Insurance for the Third World

Beat Balzli May 15, 2006
After a year of natural disasters, the international community may shrug about the possibility of 6 million Kenyans, Ethiopians and Somalis facing drought and possible starvation. In response, the World Food Program and the World Bank have developed a new plan to replace aid: famine insurance. The new model of relief shifts emphasis from donations to arrangements with international financial...

Time to Consider Pumping Money Into Infrastructure

Kenneth Rogoff May 3, 2006
Professor and economist Kenneth Rogoff argues that bouts of anxiety frequently accompany annual International Monetary Fund (IMF) meetings. Fear of any potential financial crisis is contagious and exerts paralysis even on world leaders. Many countries should stop piling up on safe investment such as US Treasury bills, Rogoff contends, and recognize that the global economy is actually enjoying a...

The US and China: Friends or Foes? – Part II

Daniel H. Rosen April 20, 2006
The US and China are the world’s two largest economies – but the citizens of the two nations differ in terms of financial habits. For example in 2005, savings accounted for at least 30 percent of Chinese household income while the US registered no savings at all. In the second of this two-part series, economist Daniel H. Rosen analyzes the implications of China’s increasing interdependence with...

Disappearing Delphi

Rick Popely April 18, 2006
Delphi Corp., the major supplier of auto parts in the US market, plans to close or sell more than two thirds of its 29 US plants. If the plan is approved by bankruptcy court, the company would focus on high-end electronic technology – with the eight remaining US plants making products that require immediate installation. The sell-off could allow the company to end its union contracts with 17,000...

Insurance Industry Feels the Heat of Global Warming

Derrick Z. Jackson March 22, 2006
Severe droughts and floods, fires and blizzards, batter properties worldwide along with the insurance industry. As a result, a task force for the National Association of Insurance Commissioners will assess the impacts of climate change on the American insurance industry. This follows up on discussions in Europe, where insurers have warned about “massive financial losses from storm patterns...

What a Shame

Mohamed Hakki March 9, 2006
Neoconservatives support using the unrivaled power of the US to spread democratic values and prevent conflicts before they start. As the Iraq war drags on to its third year, such politicians have become less influential in the US. But one neoconservative disciple, Paul Wolfowitz, president of the World Bank since 2005, has been arguing for greater accountability. As the former US deputy...

Time for Russia to Join the WTO?

Bruce Stokes February 24, 2006
With immense oil revenues and growing foreign investment, Russia is positioning itself to join the WTO. However, Russia’s membership largely depends on the US, and Congress granting Russia permanent trading partner status later this year could clarify Russia’s chances for WTO membership. But many US companies and interests still have concerns about Russia’s readiness for WTO privileges. The...