In The News

The Noodle Bowl

September 8, 2009
Large economies like China, Japan and India have signed free trade agreements (FTA) with the regional grouping ASEAN. But in the absence of a comprehensive, multi-lateral free trade agreement, Asian countries are settling for bi-lateral FTAs. But this trend is not necessarily in response to the stalled Doha round of trade talks. Bi-laterial FTAs have increased from six in 1991 to 166 by mid-year...

No Walls In This Street

Nayan Chanda August 31, 2009
One of the greatest fears facing the world as it entered the financial crisis a year ago was the potential aftermath of protectionism in the form of rising trade barriers. But, while many cited the beggar-thy-neighbor policies that spawned the Great Depression as the next shoe to drop, these prognostications largely did not come to pass. True, there have been some “Buy [place country here]”...

Globalization – A Setback

Fahed Fanek August 28, 2009
Globalization, once hailed as the solution for economies seeking to grow through free-markets, has suffered a setback in the current crisis. Many countries have enacted inward-looking policies that threaten to reverse globalization or foster protectionism. Meanwhile, some countries less open to the world seem to have weathered the storm better than the rest, challenging the notion of the benefits...

What Gorgon Means for Australia

Robert Gottliebsen August 27, 2009
China’s near insatiable hunger for natural resources appears to be dwarfing political concerns for the moment. Witness the final stages of approving the “Gorgon” project – the deal in which Australia will supply liquefied natural gas (LNG) to China valued at $50 billion – amid the downgrading of a diplomatic visit because Australia granted a visa to Uighur leader Rebiya Qadeer. Perhaps more...

An Unlikely Marriage

Nayan Chanda August 20, 2009
The notion that China and America have fused into one economy, termed “Chimerica”, is now likely a chimera, according to the co-creator of the phrase, economic historian Niall Ferguson. This does not mean the two countries are not ineluctably linked; perhaps even to the degree that loosening the ties might precipitate unforeseen, but negative consequences. But it does call into question the idea...

Driving Out of Germany, to Pollute Another Day

Carter Dougherty August 12, 2009
Old polluting German cars meant to be destroyed are being smuggled into the developing world, particularly Eastern Europe. Started in January 2009, Germany’s “cash for clunkers” program pays people up to $3,500 to give up an old car for a more environmentally-friendly one. Unlike the US program, which stipulates that engines be destroyed, the German program only requires clunkers to be left at...

‘Slaughter’ Fear Over Poaching Rise

Andrew Luck-Baker August 11, 2009
Rising demand for ivory products is wreaking havoc on Africa’s elephant population. According to scientists, poachers kill about 38,000 elephants in Africa annually, a rate that could lead to these animals’ extinction in sub-Saharan Africa in fifteen years. Helped by higher ivory prices, poaching activity has increased significantly in Central Africa, with culling in the eastern and southern...