In The News

CAFTA's Close Call A Warning to US Policy Makers

Edward Gresser August 9, 2005
Passing both the Senate and the House by slim margins, the approval of CAFTA – a free-trade agreement linking the US with the five Central American states and the Dominican Republic – was a narrow victory for the Bush administration. CAFTA will only have a marginal effect on the US economy – so why such a close vote? As Edward Gresser writes, the new initiative addresses protected goods such as...

Why "Made in China" Is Good News for the US

Andrew Leonard August 5, 2005
US trade with and investment in China continue to rise, along with the American trade deficit. One of the few areas in which the US still enjoys a trade surplus with China is the microchip industry – traditionally a Silicon Valley specialty. However, China, intent on catching up, is training engineers and providing incentives to foreign investors in hopes of developing a strong microchip industry...

A New Vocabulary for Trade

Jagdish Bhagwati August 4, 2005
Globalization is a complex phenomenon, which New York Times columnist Thomas Friedman has famously explained with the metaphor of a "flat world." According to fellow globalization expert Jagdish Bhagwati, however, "The notion of a flat world is as wrong metaphorically now as it was when Copernicus showed it to be literally wrong." Bhagwati charges that Friedman's word...

Beijing Clamps Down on Foreign Television

Chris Buckley August 4, 2005
The Chinese government recently announced that it would deny approval for more foreign satellite broadcasters entering the Chinese market, as well as increase restrictions on already existing foreign media. Certain US entertainment companies will still have the right to broadcast to certain Chinese audiences, and to foreigners in hotels and similar multi-cultural spaces. The initiative, however...

Globalization Is an Anomaly and Its Time is Running Out

James Howard Kunstler August 4, 2005
While American intellectuals continue to portray globalization as a new permanent fixture of the world, writes James Howard Kunstler, the global trade fair is nearing its end. Kunstler opines that the "cheerleaders of globalization" fail to recognize that today's global economic relations are based on relative world peace and reliable supplies of cheap energy. He points to...

Free Trade and Poverty

Joachim Bamrud August 3, 2005
Despite years of market reforms, many Latin American countries remain poor. Latin Business Chronicle editor Joachim Bamrud traces the region's poverty and sluggish growth to the continuing protectionism of many countries. President George W. Bush's signing of CAFTA provides Latin America with a new opportunity to abandon import tariffs, which actually hinder domestic growth and the...

The Crossover Queen

July 25, 2005
Most Latino singers who succeed in the lucrative English-language pop market abandon their origins and cease to cater to the Latin marketplace. Shakira, however, recently broke the industry’s conventional wisdom by returning to the Spanish-language market after selling 13 million copies of her first English album – “Laundry Service” – in 2001. Exercising an unusual level of control over her own...