In The News

Putin’s Gas-Fueled Bailout of Ukraine

David R. Cameron January 2, 2014
Ukraine’s government has decided to link its fortunes to Russia, accepting a bailout worth billions after the European Union and the International Monetary Fund offered mere millions combined with tough conditions. Russia will settle a disputed gas bill, reduce the price of future gas deliveries, end some customs controls and import quotas recently imposed and provide financial assistance in...

Worries About the World Economy for 2014

David Dapice December 20, 2013
Uncertainty and uneasy interdependence characterize a 2014 forecast on global economic growth. High rates of unemployment persist in developed economies while emerging economies rely on those nations for exports and jobs for their own citizens. The International Monetary Fund forecasts 3.5 percent growth for 2014 – or less – and economist David Dapice analyzes factors that could hamper that...

Canadian Pizza Eateries in Bind as Cheese-Import Loophole Closes

Barrie McKenna December 19, 2013
Trade barriers protect industries only briefly. Canada has a 200-plus percent tariff on imported cheeses, designed to protect its diary industry. Restaurants took advantage of a loophole to purchase special cheese-and-pepperoni kits from the United States, but the government revised rules; packages with fresh cheese now include the tariff. “Restaurants have long chafed at special Canadian rules...

America’s Role as Consumer of Last Resort Goes Missing

Simon Kennedy December 16, 2013
Household final consumption represents about 70 percent of US gross domestic product, yet “Cheaper fuel and raw materials are boosting manufacturing, making the U.S. more of a competitor to emerging-markets nations and less a reliable consumer of their goods,” reports Simon Kennedy for Bloomberg. The US recorded its lowest current-account deficit since 1999, assisted by new supplies of domestic...

Ukraine Intends to Sign EU Pact, Says Ashton; US Mulls Sanctions

Shaun Walker December 12, 2013
Europe, the United States and Russia are pushing hard at officials in Ukraine to decide on which neighbors it should side. The European Union’s high representative anticipates Ukraine to sign an association pact, even as the US points out that all policy options, including sanctions, remain on the table after a brief crackdown on protests in Kiev, reports Shaun Walker with the Guardian. Fearing...

Bali Boost: WTO Lives, Snatched for Now From Jaws of Defeat

Jean-Pierre Lehmann December 10, 2013
A round of congratulations is in order for the WTO, after agreement in Bali on a package that promises a spirit of global cooperation and level playing field for developing nations, particularly in agriculture, commodities and labor-intensive manufactured goods. But the agreement is essentially a package of promises. Ultimate success requires leadership and vision, warns Jean-Pierre Lehmann,...

Cold War in the Pacific: China Escalates Tensions with Neighbors

Hans Hoyng, Wieland Wagner, Bernhard Zand December 6, 2013
The small Diaoyu/Senkaku Islands in the East China Sea are closest to Taiwan, but, according Spiegel Online, such territorial claims are not about distance but rather “influence and natural resources, with hegemony and nationalism, and with bitter historical memories and fresh, global aspirations – in short, it's a toxic mixture of geopolitics.” Beijing announced an air defense...