In The News

The Payoff from Globalization

Gary Clyde Hufbauer May 27, 2005
Between 1946 and the present day, the United States has decreased its average tariff rate from 40 percent to 4 percent. Likewise, many economies worldwide have made moves to open their markets. Two analysts from the Institute for International Economics attempt to answer an obvious question: Has this trend benefited US citizens? Their answer: Absolutely. Unfortunately, the...

US Shouldn't Fear Rise of China, India

Robert Samuelson May 26, 2005
The growing wave of statistics on dwindling US competitiveness in the global economy has spooked American workers and brought blame on the heads of US manufacturers. China, India, and other developing economic superpowers are gunning for the position once occupied by mighty America – or so the wisdom goes. But the verdict on China and India's imminent rise to power may not be so clear-cut,...

How to Jump-Start the WTO

Susan Ariel Aaronson May 26, 2005
This year marks the 10th anniversary of the World Trade Organization. One of the tenets of the organization is to use trade as a means to achieve sustainable development for the world's emerging economies, but after several rounds of talks, the WTO seems stalled. As Susan Ariel Aaronson and Jamie Zimmerman write, there is yet hope for the organization and its goals. The key: Policymakers...

The Need to Cooperate on Oil Policy in East Asia

Makmur Keliat May 26, 2005
For the rapidly modernizing countries of East Asia, oil resources are necessary to sustain industrialization. This editorial in The Jakarta Post predicts that competition for these resources will continue to increase, and national policies will be directed at securing an adequate oil supply. Oil competition, exacerbated by rising prices and political uncertainty in the Middle East and Central...

Drug Deal

Kelly Hearn May 26, 2005
In coming weeks, the US Congress may ratify the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA), creating a new free trade area. One of the often-overlooked but controversial aspects of the agreement is its intellectual property protections. According to journalist Kelly Hearn, the new protections could halt production of the generic medications that AIDS patients depend on...

Washington and the Chavez Question

Patrick Esteruelas May 25, 2005
Many fear that Venezuelan president Hugo Chavez may successfully create a substantial leftist, anti-American political bloc in South America. But as the Financial Times notes, Chavez's strategies – combining populist rhetoric, left-leaning militarism, and natural resource manipulation – may not be quite so successful. Venezuela's oil has been a key tool in shaping regional politics:...

Reviving an Old Dream of Afro-Asian Cooperation

Thomas Abraham May 24, 2005
In 1955, the giants of the developing world gathered in Bandung, Indonesia, in an historic attempt to promote Asian-African solidarity. Despite their hopes, few of the participating countries were stable enough to ensure meaningful change. Fifty years later, developing country leaders gathered in the same city, with the same purpose: to promote cooperation between the two regions. Though the...