In The News

Cut Fuel Use and the Trade Deficit

Bruce Stokes September 14, 2007
An old saying suggests that “killing two birds with one stone” is the height of efficiency. Pressuring China to re-set the yuan to a higher value and cut subsides has not helped to lower the US trade deficit. Instead, the US could take immediate action regarding one major import, suggests Bruce Stokes. “Net US outlays for imported oil and natural gas exceed the nation’s trade balance with China,...

Sarkozy Urges French to Play “the Game of Globalization”

Katrin Bennhold September 13, 2007
French President Nicolas Sarkozy urges his nation to adopt business-friendly policies, while continuing to defend its values worldwide. To become more globally competitive, France may have to adjust labor polices that restrict employers from firing unproductive workers and require generous benefits, including long vacations and a 35-hour work week. Still, he couched his comments by noting that a...

US Must Reassert Global Leadership

Samuel R. Berger September 13, 2007
Intent on the war in Iraq, the US has reduced its involvement elsewhere in Asia, South America and Africa. Meanwhile, China and Russia have stepped into the vacuum, warn former Clinton administration officials, Samuel Berger and Eric Schwartz, writing for the Boston Globe. China has provided billions for roads, ports and other projects in nations like Laos, Cambodia and the Philippines, they...

Globalization and Cultural Diversity

Michael Lynton September 12, 2007
Those who oppose globalization are especially sensitive about loss of culture. But the American film industry does not contribute to the homogenization or Americanization of culture, argues Michael Lynton, chairman and CEO of Sony Pictures Entertainment. “Instead of creating a single, boring global village, the forces of globalization are actually encouraging the proliferation of cultural...

“Fed, We Have a Problem”

Jeffrey Garten September 12, 2007
Governments with checks and balances are accustomed to internal quarrels over the best ways to solve problems. Such is the case for the US in confronting a sub-prime mortgage crisis that threatens consumer spending, credit availability and jobs around the globe. Firms and investors facing immediate losses from the crisis urge the chairman of the US Federal Reserve System, Ben Bernanke, to lower...

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...

Big Questions for Big Oil

Sacha Kumaria September 5, 2007
Oil prices will probably rise with the approach of winter in the northern hemisphere, continuing a wave of profits. But the world’s largest oil companies plan for contraction rather than expansion. National oil companies in countries like Russia or Venezuela, as monopolies, demand high payments from the competing independent firms, allowing less funds for research and development. Independent...