In The News

Beijing’s African Summit: Why China Is Wooing the Dark Continent

Eric S. Margolis November 17, 2006
China recently gave a grand welcome to 48 leaders from Africa and passed out $10 billion in aid. As a country that gets about one-third of its oil from Africa, China refuses to criticize human-rights violations that are common throughout the continent. In embracing diplomacy and resisting military action, China has built up an ample trade surplus and more than $1 trillion cash reserves. With such...

Can Asia Count on Russian Oil?

Michael Richardson November 16, 2006
Nations rich in oil can wield great influence throughout the world, and the nations who must buy oil look for low prices and reliability. As the world’s largest exporter of natural gas and the second largest exporter of oil after Saudi Arabia, Russia is a major power broker when it comes to energy. Constructing pipelines across Asia, the Russian government is not clear about whether its earliest...

Competitiveness, Not Offshoring, Is EU Weakness

Natascha Gewaltig November 15, 2006
Inexpensive cheap global labor poses fewer problems for the EU than accelerating technological change and the inability to adapt, according to a study from the European Commission. The global outsourcing market grew over the previous decade, from 8 percent of the world GDP in 1990 to 11 percent in 2003. The EU outsourcing market represented almost 15 percent of its GDP in 2003. “Technical...

Relax, Democrats Might Not Be So Protectionist After All

Edward Gresser November 14, 2006
Pundits worldwide suggest that Democratic control of the US Senate and House of Representatives after the November 7 election spells doom for free trade. But the Democratic Party has a tradition of economic internationalism, beginning with presidents such as Woodrow Wilson who served from 1913 to 1921. The party’s leaders have put forward a domestic agenda that aims at calming the anxiety of...

Protectionist Stance Is Gaining Clout

Gregg Hitt November 13, 2006
With Democrats in charge of Congress, a protectionist sentiment could envelope Washington, DC, with politicians eager to prove that they are protecting US borders, firms, jobs and wages. The business community spent large sums to defeat candidates opposed to business interests: Executives identify protectionism as the biggest threat to growth after terrorism, and the US Chamber of Commerce spent...

Bad Trade-Off

Stuart Anderson November 10, 2006
Analysts anticipate that a US Congress controlled by Democrats will scrutinize and even stall free-trade agreements. Under Democrats, Congress will probably not extend the Republican president’s fast-track authority for approving trade agreements, which expires in July 2007. Democrats criticized the Bush administration for allowing manufacturing firms to invest in overseas plants, particularly...

Unifying the UN

Shaukat Aziz November 9, 2006
An increasingly interconnected world cannot withstand enormous inequality. An overhaul of the UN system is in order or the international body will be marginalized, warn prime ministers from Pakistan, Mozambique and Norway, who were charged by the UN secretary general to offer recommendations on improving policies in three key areas: sustainable development, response to world crises and...