In The News

Oil Supply I: The Arabs Look to the East

Michael Vatikiotis November 18, 2004
The relationship between Saudi Arabia and its allies in the West may never be as warm as it once was in the pre-9/11 era. Luckily for the kingdom, it sits on one-quarter of the world’s reserves of crude oil, and East Asia desperately needs oil to fuel its staggering economic growth. China’s efforts to satiate its unquenchable thirst for oil have spawned greater economic and political ties to the...

Is America Losing Its Edge?

Adam Segal November 17, 2004
The long-standing pre-eminence of US technology and innovation worldwide may now face a challenge, as the changing face of the global marketplace takes its toll. As US trade and development has expanded overseas, partner nations have taken advantage of this access. Particularly in Asia, nations are making large strides in research and development (R&D) and other scientific technology. Budget...

Is Putin an Anti-Globalization Hero?

Liliana N. Proskuryakova November 3, 2004
Russian President Vladimir Putin has made few friends within the anti-globalization movement, despite government actions that – on the surface, at least – reflect goals espoused by demonstrators – from Seattle to Genoa. Liliana N. Proskuryakova argues that anti-globalization activists have held their applause, as they believe Putin's inconsistent policies betray a different agenda: His...

Dollar Decision a Sign of Distress

Jane Bussey October 28, 2004
Days after his humiliating tumble off a stage, Fidel Castro announced a decision to dedollarize Cuba – yet another sign of the growing strains on the economy. After November 8th, Cubans may still hold dollars and swap them for convertible pesos – but will have to pay a 10 percent commission to the government. Cuba, already short on cash, does not earn enough foreign exchange from investment,...

First Ever Ruling for Inter-Arab Court

Magda El-Ghitany October 27, 2004
The 22-member Arab League this week handed down a verdict via its business court. Although the judicial body was established in the 1980s, it had remained out of commission until 2003, when the League renewed the court's operations. The inaugural dispute centered on the Tunisian government and a Saudi Arabian company, in which the company sued for damages surrounding the execution of...

Time to Prick the Dollar Balloon, Gently

David Dapice October 27, 2004
As the already sizeable US account deficit increases at an astonishing rate, experts continue to debate its consequences. Offering a counterpoint to a previous YaleGlobal article by Hilton Root, economist David Dapice argues that the escalating US debt is not, in fact, innocuous. Asian central banks support over half of the US debt. However, if current trends persist, US needs will be...

Fueling a Crisis in Nigeria

Olly Owen October 25, 2004
Under a package of International Monetary Fund-endorsed reforms, the Nigerian government hopes to eliminate domestic fuel subsidies. Yet low gas prices are currently the only economic benefit for cash-strapped Nigerians, who see price increases as another kickback to local elites and foreign oil companies. The proposed reforms have caused domestic turbulence; unions launched a series of...