In The News

US-South Korean Free-Trade Agreement: The Cost of Failure

Bruce Stokes January 9, 2007
Trade has not been a priority for the Bush administration, and negotiations have stalled over a free-trade agreement between the US and South Korea. Meanwhile, South Korea has lots of leverage and plenty of alternative markets, including China. The inability of the US to reach such a major trade agreement signals that Europe could set standards in global trade. For example, trade agreements that...

US and China Differ on Aim of Economic Talks

Steven R. Weisman December 18, 2006
After proposing dialogue on trade with China, the US treasury secretary did not expect Beijing to be so quick with its own sage advice for Washington. While the US expects China to adjust its currency, allowing it to float in relation to the dollar, China wants the US to stop borrowing so much money. Adjusting the Chinese currency would perhaps slow the Chinese export market, allowing China to...

Thailand's Cynical Ploy on Burmese Migrant Workers

Kavi Chongkittavorn December 13, 2006
About 600,000 illegal workers, most from Burma and the rest from Laos and Cambodia, work in Thai factories for about one third of regular wage rates. The Thai government offered to legalize migrant workers from Burma, with the condition that they return first to their homeland and verify citizenship. Such a condition amounts to a death sentence in Burma, a nation under rule of a military junta,...

Everybody Wants One Now

December 12, 2006
English-language television news channels have been cropping up all over the globe, in places as diverse as China, Russia, the Middle East and, surprisingly enough, in France. Many of these stations are at least partly government-owned, and some viewers question their ability to avoid becoming a mouthpiece for certain policies. Proponents counter that these broadcasts will cover areas neglected...

“Fair Trade” Lifts the Wrong Boats

Rick Newman December 12, 2006
Subsidies, tariffs and other forms of protectionism shield weak competitors – sometimes ending their ability to ever compete again in the global markets. The US auto and textile markets serve as examples. Three decades ago, US auto firms had protections in place, bashing competitors in Japan, but Japanese auto firms thrive and present efficient, desirable models. The textile industry, with its...

Slumping Dollar Has Nasty Surprise in Store for Lebanese Consumers

Michael Bluhm December 11, 2006
Even as Lebanon tries to avoid falling into civil war, the country’s fortunes are further imperiled by the falling US dollar. The dollar plays a prominent role in Lebanon’s economy: It is universally accepted alongside the Lebanese pound, and bank machines routinely dispense money in both pounds and dollars. Now, a weaker dollar means that Lebanese consumers can expect to pay more for goods...

“Fair Trade” Foolishness

Robert Samuelson December 8, 2006
US politicians may oppose new trade agreements with nations like Peru and Colombia, but other nations will fill the void. The US could punish its own exporters by rejecting such trade agreements. The basis for such rejection is not so much traditional protectionism, suggests columnist Robert Samuelson, but rather an obstructionism and alarm at the notion of any trade at all. US citizens worry...