In The News

'Offshoring' Has Its Trade-Offs

Steven Pearlstein February 11, 2004
The offshoring of US jobs is becoming a hot topic in political and economic debates. Earlier this week, President Bush's top economic advisor, Greg Mankiw, weighed in on the controversy by claiming that the offshoring of service jobs - like software design - to India and other countries can only make US businesses stronger. But that's not necessarily the case, says Steven Pearlstein...

Assembly Fails to Vote on FTA, Troop Bills

Lee Joo-hee February 10, 2004
South Korea's National Assembly was unable to vote on two bills – one on a proposed free trade agreement (FTA) with Chile and the other on Iraq troop deployment – due to arguments over voting methods. During the debate, activists, mostly farmers protesting the two bills, had convened outside the Assembly building. A leader of the Korean Confederation of Trade Unions said that he opposed the...

U.S. Set to Get Tougher on Cuba

Nancy San Martin February 10, 2004
As part of its ongoing battle to isolate the communist regime of Fidel Castro, the United States plans to crack down on companies and people that do business with Cuba in contravention of US law. The US Treasury Department has identified ten Cuban companies that have helped US citizens travel to Cuba without the proper licenses as well as deliver goods via the Internet. At the urging of the White...

At Least 7 Nations Tied To Pakistani Nuclear Ring

Peter Slevin February 7, 2004
US and Pakistani intelligence officials recently denounced the founder of Pakistan's nuclear program Dr. Abdul Qadeer Khan for illegally trading nuclear technology to other nations. After Dr. Khan's confession, officials now find themselves confronted with the terrible realizations this new information. Dr. Khan's network to sell nuclear materials seems to have extended to, at...

Thai Credibility Shattered by Deceit

February 7, 2004
When David Byrne, EU Commissioner for Health and Consumer Protection, visited Thailand in mid-January to discuss agriculture and trade issues, his meeting with Thai leaders was considered a mutual success. At the time, Byrne had said EU food safety regulations posed no barrier and that the European market is a lucrative one for Thai exporters. Thai officials gave Byrne the impression that all...

How Dangerous is the Bird Flu?

Laurie Garrett February 6, 2004
In recent weeks the avian flu has emerged as a matter of urgent concern for poultry farmers, health officials, and government leaders in Asian countries. Cases of infected poultry have been reported in China, Vietnam, Thailand, and seven other countries, with widespread culling and bans on chicken exports in many of these. But with fewer than twenty human deaths reported thus far, is this...

Asian Central Banks Consider Alternatives to Big Dollar Holdings

Phillip Day February 5, 2004
South Korea, Thailand, Taiwan, China and Japan say they plan to shift out of US treasuries. The reasons vary: for some bankers, Treasuries are not bringing the required rate of return, particularly with a depreciating dollar; for others, now is a good time to pay down debt or help finance domestic industry. But given their large holdings, Asian countries need to ensure that any sell-off does not...