In The News

Paulson Urges Restraint in Policy on China Trade

Steven R. Weisman September 11, 2007
US Treasury Secretary Henry Paulson warned that any legislation aimed at punishing China could aggravate jittery markets and increase volatility. “Unilateral actions aimed at another nation” – especially a nation that continues to fund hefty portions of US debt – could disrupt the global economy, he warns. Increasing numbers of US firms report logging more revenue from overseas sales than those...

Doing God’s Work for the Taliban

Shim Jae Hoon September 4, 2007
Missionaries from South Korea travel to remote and dangerous lands, intent on spreading their Christian faith. Christianity contributed to modernization in South Korea, and missionaries often link their beliefs with the country’s miraculous economic growth. In July, the Taliban kidnapped 23 young Christian volunteers in Afghanistan, killing two before releasing the remaining hostages in late...

Skilled Immigrants? No Thanks

Michael Sauga September 3, 2007
Most developed nations have loosened immigration policies in the competition for skilled labor. But not in Germany. Employers want skilled workers, but the government adds obstacles to hiring immigrants, regardless of education or skill, even as thousands of highly trained Germans leave for jobs abroad. “Ironically, just as the German economy embarks on its strongest boom in years, the country...

Calls Grow for Foreigners to Have a Say on US Market Rules

Heather Timmons September 1, 2007
Some US homeowners have adjustable rates on their home mortgages. As interest rates rise, they struggle to repay loans and keep the homes. The problem went global after lenders sold those loans: Financial firms packaged mortgages with other types of debt; US credit-rating agencies slapped high rates on the packages; and investors in Asia and Europe purchased the loan packages, assuming that the...

If Iraq Falls

Josef Joffe August 29, 2007
More than 30 years ago, US officials warned that communism would sweep through Asia if the US walked away from its mission in Vietnam. The US did leave Vietnam, the North Vietnamese took control of the nation, and communism did not sweep the continent. But with oil and some ruthless neighbors, Iraq has geopolitical significance. “The world's worst political and religious pathologies combine...

Chinese Seek to Buy a US Maker of Disk Drives

John Markoff August 27, 2007
The US must confront and reconcile several realities: China has massive reserves of cash and actively pursues foreign investment; second, debt burdens the US government and its citizens, slowing their investment pace; and third, neither government trusts the other with sensitive industries. Reports that a Chinese firm has expressed interest in purchasing Seagate Technology, a US maker of disk...

“Made in China” Label Spurs Global Concern

Paul Mooney August 23, 2007
As lead exporter in many types of products, China takes pride in serving as factory to the world. But a spate of tainted products and recalls involving goods made in China gives many global consumers pause. China’s reaction includes denials, scapegoating and even the fast execution of one government official accused of taking bribes to allow production of shoddy goods. But the government has also...