In The News

Dollar Decision a Sign of Distress

Jane Bussey October 28, 2004
Days after his humiliating tumble off a stage, Fidel Castro announced a decision to dedollarize Cuba – yet another sign of the growing strains on the economy. After November 8th, Cubans may still hold dollars and swap them for convertible pesos – but will have to pay a 10 percent commission to the government. Cuba, already short on cash, does not earn enough foreign exchange from investment,...

First Ever Ruling for Inter-Arab Court

Magda El-Ghitany October 27, 2004
The 22-member Arab League this week handed down a verdict via its business court. Although the judicial body was established in the 1980s, it had remained out of commission until 2003, when the League renewed the court's operations. The inaugural dispute centered on the Tunisian government and a Saudi Arabian company, in which the company sued for damages surrounding the execution of...

Trading in Pieties

October 22, 2004
A new European Commission proposal will give poor countries special access to EU markets if they agree to sign the Kyoto global warming protocol and other international environment and labor treaties. But manipulation of trade privileges is often thinly veiled protectionism, argues the Financial Times in this editorial. If trade negotiations do not focus on opening markets, the adoption of these...

Rex Americana

Seema Sirohi October 19, 2004
As the US presidential campaigns come to a close, many Indian Americans support John Kerry because of his strong civil rights message, though those more financially successful favor Bush's tax policies. India itself, despite traditionally leaning toward Democrats, is split down the middle regarding this election. According to this Outlook India analysis, US election results will define...

US Presidential Campaigns and the World – Part I

Kyle Usrey October 18, 2004
The two candidates in the US elections have showed the gulf of difference that exists on many policies. But they seem to share one thing in common: foreign trade is seen as the culprit behind many of the citizens’ economic woes. Kyle Usrey writes that protectionist rhetoric is shortsighted and dangerous to the US economy. Critiques of outsourcing are misplaced in their diagnosis. In fact,...

French NGOs Push to Save African Chicken Farmers from Europe

October 18, 2004
According to a French non-governmental organization, the developed European poultry industry sells cheap produce to African countries, undercutting domestic markets. Industry leaders within Europe claim that African nations have the option of creating import taxes, and that cheap produce is a boon to countries with weak purchasing power. The French group, however, says that imposing tariffs is...

Globalization: Custom-Made in China

Fan Gang October 15, 2004
The rapid pace of China’s economic growth has been remarkable, but the country’s success did not magically result from opening to the world, writes economist Fan Gang. China’s experience shows that countries must plot their own individualized paths towards market liberalization. Early in its development, China protected its infant industries from the rigors of global competition – thus allowing...