In The News

Mideast Money Pinch

Yasmine El-Rashidi May 5, 2006
Middle East investors and shoppers are bypassing travel, education or health care in the US for friendlier opportunities in Asia and Europe. In March, the US rejected acquisition of operations for six US ports based on security concerns, but even before that, Saudi tourism to the US was down 75 percent in 2004 from 1999. Obtaining US visas has become more complicated for Arabs since 9/11, with...

An Ugly Side of Free Trade: Sweatshops in Jordan

Steven Greenhouse May 4, 2006
The story of abusive sweatshops is familiar, but still haunting. Reports suggest that as quickly as retailers and critics improve conditions in one location, new factories and abuses emerge in other nations. Jordan is the center of attention for impoverished people desperate for work and new criticism. A report from the National Labor Committee, based in the US, points out that workers are...

Globalization Is a Story Still to Be Written

Sheldon W. Stahl May 3, 2006
Despite all the commentary on globalization, the ultimate question of whether the phenomenon enables progress or detracts from quality of life remains to be answered. Undeniably, globalization delivers tangible benefits, many visible in the US. A greater array of high-quality goods at lower prices is one benefit, while foreign direct investment can provide new employment opportunities. Such...

China Seeks "Strategic Partnership" With Africa

Tom Ashby April 27, 2006
After making economic inroads throughout Africa, China seeks to strengthen political ties. Speaking in Nigeria – Africa’s top oil-producing nation – China President Hu Jintao promised respect for African sovereignty, which contrasts with the ongoing US demands for democracy and a war on terror. The Chinese president’s tour has included stops in the US, Saudi Arabia, Morocco and Kenya. "...

EU Accused of Ignoring Human Rights Abuses in Rush for Gas Deal

Nicholas Watt April 26, 2006
The lucrative gas reserves in Turkmenistan attract the EU to such an extent that parliamentary committees are prepared to disregard the harsh regime of President Niyazov and many human-rights abuses. In contrast, the EU has banned Belarussian leaders from traveling for vote-rigging their country’s elections, a less serious crime than human-rights abuses. Coincidentally, Belarus does not have oil...

IMF Expands Role in Seeking to Reduce Trade Imbalances

Paul Blustein April 25, 2006
The International Monetary Fund has focused attention a new concern – massive global imbalances. Of particular concern are the burgeoning US budget deficit; China’s currency, which some claim is undervalued; and increasing investment in the energy-related infrastructure of oil-producing countries. The IMF was created 60 years ago to deflect international crisis. But some economists suggest that...

US, China Eager to Gloss Over Any Disagreements

Daniel Sneider April 25, 2006
The inevitability of China’s rise has led its Asian neighbors to perform “fine balancing” acts, with the question of how to respond to China’s growth remaining high on every agenda. Even countries that have been historically at odds with China – such as Japan and Vietnam – worry about the threat, but must cooperate with the second largest economy in the world in terms of purchasing power. Like...