In The News

Peter S. Goodman November 30, 2007
The US economy relied heavily on its consumers’ willingness to borrow heavily to meet their wants, even as debt mounts. But the recent economic slowdown has dampened the spending spree. Hints of renewed thriftiness in the US contribute to global unease, and pessimists warn of a severe recession, with a plummeting stock market, escalating unemployment and declining value in the dollar. On the...
Steven R. Weisman November 28, 2007
China announced a policy requiring rigid safety inspections of medical, software and other high-tech devices that enter Chinese ports. The policy, announced in June, will not apply to Chinese manufacturers and follows a pattern of protecting domestic industries, reports Steven R. Weisman for the New York Times. Some analysts suggest the policy could represent retaliation for intense publicity in...
Joel Millman November 28, 2007
Mexico struggles to compete with low labor costs of Asian manufacturers, but has established a niche in manufacturing aerospace equipment because of location. Massive items that entail expensive transportation fees used to be manufactured in distant countries with highly skilled work forces, like Japan and Taiwan. But the Mexican government has invested in training programs for aerospace workers...
Russell Roberts November 19, 2007
Debates featuring US presidential hopefuls feature complaints about trade deficits, outsourcing and the competitive threat of China. Author and professor Russell Roberts, though, offers the reminder that promoting foreign open markets and a protected one at home is no better than mercantilism. All countries are wary about such a strategy and won’t stand for it. On the other hand, free trade...
Rory Carroll November 15, 2007
Venezuelan President Hugo Chávez has gained both prestige and notoriety for his use of oil diplomacy throughout Latin America. An oil boom combined with Chávez’s socialist policies has had two consequences: a surge of imported luxury goods and a shortage of food staples. According to the research group Datanalisis, as much as a quarter of the supply of food staples is “disrupted,” and any stock...
Jonathan Power November 15, 2007
The West has viewed Africa as an undifferentiated mess of war, disease, corruption and poverty for some time. The International Monetary Fund, however, estimates that sub-Saharan will grow at 7 percent in 2008, largely due to investment by Chinese and Indian companies. US and European experts are divided about Asian influence in Africa, whether India and China engage in mutually beneficial...
Steven R. Weisman November 7, 2007
In an effort to push new trade accords with Peru, Panama and Colombia through US Congress, President Bush has repeatedly insisted that these accords would strengthen democracy in the region and weaken the influence of Venezuela’s Hugo Chávez. Democrats, labor unions and advocacy groups – Bush’s main opposition to this agenda – are skeptical of rhetoric that makes free trade a synonym for...