In The News

A Floundering WTO – Part I

Edward Gresser March 21, 2006
The long-term future of global trade hangs in balance as the World Trade Organization struggles to reach consensus on desperately needed reform. A two-part series analyzes the promise WTO once held and how the pursuit of narrow and immediate gain by the richer nations may threaten the future for all. In the first article, policy analyst Edward Gresser notes that trade agreements among nations...

Tit-for-Tat Protectionism

March 20, 2006
Western powers have lost their competitive edge in the global marketplace and are responding with a wave of protectionism. Excuses range from protecting “sensitive” industries to economic “patriotism,” but global investment is under attack. One reason could be that the West has lost a competitive edge, suggests this editorial from a Singapore newspaper. Internal friction among EU member nations...

West Urged to “Tell Truth on Globalisation”

John Thornhill March 20, 2006
Western governments must stop blaming China and other developing Asian countries for trade woes and failing to tackle their own economic problems, suggests Chinese diplomat Long Yongtu, speaking at a conference in France. His comments, urging western politicians to tell the truth about the inevitable process of globalization, responded to EU and US criticisms of China’s trade practices,...

Is This the End of Globalization?

Heather Stewart March 10, 2006
The anti-globalization message – protecting jobs and traditional industries – has powerful appeal in a fast-changing world. History shows that the most successful economies are those that open themselves to foreign competition, yet economists still struggle to explain how free trade can benefit all players, especially when markets specialize at what they do best. More citizens of wealthy...

Time for Russia to Join the WTO?

Bruce Stokes February 24, 2006
With immense oil revenues and growing foreign investment, Russia is positioning itself to join the WTO. However, Russia’s membership largely depends on the US, and Congress granting Russia permanent trading partner status later this year could clarify Russia’s chances for WTO membership. But many US companies and interests still have concerns about Russia’s readiness for WTO privileges. The...

Managing Globalization: If It’s Here to Stay, What Do We Do Now?

Daniel Altman February 10, 2006
It has been approximately two decades since the word “globalization” became standard in business and economic discussions. In the beginning, the word described the challenges facing Western companies that had to compete with lower-priced, sometimes better quality imports from countries like Japan, South Korea, and China. Over time, however, the term’s meaning expanded as Asian companies started...

EU Loses a Round On Biotech Crops

Scott Miller February 9, 2006
A WTO panel has found that the EU is guilty of illegally banning certain genetically modified crops. The 800-page ruling, which supporters hope has the potential to open Europe to more biotech products, was sought by Canada, Argentina and the US, who view Western Europe as a potential lucrative market for genetically modified seeds. For their part, European consumers are wary about the safety...