In The News

Protests Greet Yet Another WTO Meeting

Pranab Bardhan September 8, 2003
As the World Trade Organization prepares to meet in Cancun, Mexico, backers and detractors of globalization are clashing again, with each side claiming to represent the interests of the world's poor. Those opposed to globalization in its current form point to an increase in inequality and poverty in countries that have opened up to international capital and corporations, while supporters...

Economic Worries in China as Companies Pile Up Debt

Keith Bradsher September 4, 2003
The Chinese economy's 8% annual growth rate has made it one of the most impressive development stories of the past decade, but its dynamism may be getting out of control. Economic analysts from J.P. Morgan to Goldman Sachs, from US government officials to even China's Central Bank leadership are concerned about overcapacity and bad bank loans. Chinese banks are notoriously unconcerned...

How Washington Can be a Hyper-Power and a Hyper-Borrower

Philip Segal September 2, 2003
What kind of a superpower gets into so much debt that it has trouble pushing around countries that it would love to? The American kind, says Philip Segal, Markets and Finance Editor of the Asian Wall Street Journal. China and Japan - two major buyers of US government bonds - could do great damage to the American economy if they decided to stop buying or to suddenly sell their share of the US...

For Now, Hong Kong Protests Do Not Faze Investors

Frank Ching July 29, 2003
In Hong Kong, the recent mass demonstrations against proposed anti-subversion legislation have not shaken foreign investors' confidence. In the following essay, Frank Ching argues that while anti-government political activism might scare off investors in most countries, Hong Kong has benefited from its international reputation as a stable and investor-friendly economy. However, Ching says...

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...

Can the Third World Spend the AIDS Money Well?

Alan Beattie July 13, 2003
At the upcoming international conference on AIDS, much of the discussion will focus on ways to improve how the developing world utilizes funds for AIDS education, prevention, and treatment. In the past, similar concerns over the use of anti-AIDS funds led to the creation of the Global Fund, which allows aid to bypass weak and often corrupt governments in developing countries. This centralized...

Germany and California: Parallel Crises in Need of Parallel Remedies

Robert Levine July 10, 2003
Although Germany and California represent different levels of government, both are facing similar severe economic and political crises. The economic problems for both stem from the collapse of the booming information technology sector. Global trade and investment opportunities connected the information technology sectors in Germany and California, and the collapse of the IT sector in California...