In The News

Agreeing on Africa, Up to a Point

June 8, 2005
As incoming president of the G-8, Tony Blair has made reducing African poverty the focus of his agenda, aiming to pardon the continent's staggering debt and increase aid by US$50 billion. But he faces opposition from Germany, France, and Japan – who propose focusing efforts on just five developing countries – as well as the United States, reluctant to double its aid. With Africa's...

Bush to Europe: Let's Move On

Shada Islam February 23, 2005
Speaking of transatlantic relations during his recent European tour, President Bush emphatically claimed that "no temporary debate, no passing disagreement of governments, no power on earth will ever divide us." As journalist Shada Islam explains, there is some basis for the President's optimism. The United States and Europe have agreed to disagree on a number of issues, favoring...

Despite Rhetoric Trans-Atlantic Alliance is Alive and Well

Mohammed Ayoob February 14, 2005
US Secretary of State Condoleezza Rice last week delivered a speech urging reconciliation among allies ostensibly torn asunder by the US invasion of Iraq. According to international affairs scholar Mohammed Ayoob, however, the US-EU alliance was never in danger. Whatever differences might arise over specific foreign policy issues, Ayoob maintains, the overriding objective of the Concert is to...

Dealing with a Declining Dollar – Part I

Jeffrey E. Garten February 7, 2005
There may be trouble brewing in the global financial system. With US external debt now over US$2.5 trillion, foreign creditors may soon demand higher interest rates in order to keep money flowing into America. In turn, this might lead to a US recession that will eventually spread globally. However, such a disaster could be averted if other countries were to allow their currencies to move...

Can the World Deliver for Africa?

Larry Elliott February 2, 2005
2005 may be the year of Africa, if UK Prime Minister Tony Blair and other officials have anything to do with it. Britain, charged this year with the coinciding presidencies of both the EU and the G8, has vowed to make African economic revival a priority. The poorest continent in the world is steadily growing poorer, as standards of living, health, education, and economic productivity are far...

G-Force

October 11, 2004
Building on the creation of the G7, several countries have conspired to establish their own G-titled alliances. Although G7 still dominates policy in international institutions such as the International Monetary Fund (IMF) and the World Bank, these "alphanumeric bodies" have largely ceased to have meaning. Perennial problems, such as the perpetual pegging of the Chinese yuan to the...

A Global Power Shift in the Making

James F. Hoge, Jr. July 21, 2004
China has an economy that by 2010 will be double the size of Germany’s. Japan has fed off this growth to pull itself out of its 1990s economic malaise and enjoyed a real GDP growth rate of 6.4% in the last quarter of 2003. Elsewhere in Asia, the “tigers” have recovered from the 1997 financial crisis, and India’s economy is growing at 8% per year with some economists predicting that India could...