In The News

Biotech Food Tears Rifts in Europe

Elisabeth Rosenthal June 6, 2006
Europe’s resistance to genetically modified foods places it at odds with the WTO, the US, Canada and Argentina, all of which push for greater acceptance of the products. No evidence suggests that such crops are dangerous, but the European public remains suspicious. Farmers argue that it’s ludicrous to grow crops that consumers detest. The issue has divided nations such as Greece, where the head...

Africa Cannot Catch Up Until the West Keeps to Its Deal

Larry Elliott June 1, 2006
Ghana benefits from relative economic advantages over many of its neighbors in Africa. The country does, after all, have its own stock exchange. Alan Kyerematen, Ghana’s minister of trade, points to four levels on which improvement is needed for sub-Saharan countries to rise from debt: the firm, where investment is needed in both physical and human capital; the government, which must pursue...

Africa’s Bitter Harvest

G. Pascal Zachary May 10, 2006
For years, Souley Madi has had many advantages as a cotton farmer in Badjengo Cameroon. He requires no complex, costly machinery to plant his fields. He has a beneficial arrangement with a state-owned company that collects his harvest on time for a satisfactory rate. With these earnings, he sends his five children in school, which he believes is the key to their future. Yet Madi wonders how...

Can the Doha Round Be Salvaged?

Ernesto Zedillo May 9, 2006
The Doha Round began in 2001 as an attempt to eliminate trade barriers and encourage global commerce among developing nations. But countries submitted lengthy wish lists to the negotiators. With collective agreement required among 149 member countries of the World Trade Organization (WTO), it’s no surprise that the round has stalled. The Doha Round struggles from an inherent contradiction –...

Microsoft's Gates Sees Vietnam Outsourcing Potential

Jason Folkmanis April 25, 2006
Vietnam’s economic growth, combined with a young population and high literacy rate, lures potential investors including the richest man in the world, Bill Gates. However, intellectual-property piracy also tends to run rampant in Vietnam and other nations with young impoverished populations. During a visit to the Communist country that eagerly seeks WTO membership, Gates suggested that Vietnam...

The World: Set Ways; Vive La Dolce Vita

Roger Cohen April 25, 2006
With the accelerating convergence of ideas and commodities, the world has more jobs available. Yet, many Europeans prefer job security to risky endeavors and resist the process of globalization. Pundits expected recent elections to decide the direction for Europe, but voters are polarized. Close results in the Italian election could undermine the credibility of Italy’s next political leadership,...

Currency Manipulator?

Ronald I. McKinnon April 24, 2006
As China’s bilateral trade surplus with the US continues rising in record-breaking fashion, there has been growing speculation that Beijing manipulates currency-exchange rates in its favor. However, Stanford economist Ronald McKinnon argues that China’s motivation for pegging the renminbi is to secure monetary stability rather than achieve an undue mercantile advantage in world export markets....