In The News

Pain From Free Trade Spurs Second Thoughts

David Wessel March 30, 2007
Free trade and free movement of labor has long enriched the US, but analysts increasingly point out that neglect of the nation’s science, education and manufacturing base could limit future prosperity. The US public took little notice when unskilled jobs moved overseas – but some economists predict skilled jobs, any that can be accomplished via the internet, will soon follow. Fast-paced...

Why “Fair Trade” Could Backfire for the US

David Dapice March 26, 2007
As manufacturing jobs continue to slip away from the US, Democrats in control of US Congress could be tempted to apply protectionist measures. But any regulations that attempt to restrict trade could backfire and chase more skilled jobs abroad. Economist David Dapice describes US economic problems – unbalanced budgets, a negative savings rate – as “home grown,” and the solutions require sacrifice...

The Opening of Libya

Stanley Reed March 9, 2007
As Libya gradually emerges from 20 years of economic isolation, international energy firms rush to grab a piece of the North African nation’s extensive untapped oil reserves. Libya has organized an intensely competitive bidding process for exploration rights, pitting companies from the US, Europe and Asia against one another in a race to secure new sources of energy. Such investment will have...

China Builds Commerce Codes

Andrew Batson March 3, 2007
China's economy is the second largest in the world after the US and, with more than a billion people, growing fast. But the nation’s legal system is immature and fails to protect all business interests, particularly private-property rights and other elements not traditionally part of a communist system. After establishing rules on corporate bankruptcies, the National People’s Congress is...

Satellite Row Rich in Contradictions

Siriporn Sachamuneewongse February 28, 2007
Thailand bristles about the sale of telecommunications assets to a Singaporean state-owned firm by former Prime Minister Thaksin Shinawatra. A few months after the sale, in September 2006, a group of military officers accused the prime minister of corruption and took control of the government. Still distraught about the sale of assets to a neighboring nation, the military officers suggest that...

The Perilous Fantasy of Pursuing Energy Independence

A.F. Al Hajj February 27, 2007
Advance public announcements on research plans can lead to market manipulation. Leaders of developed nations – weary of instability in nations that supply oil and high prices – openly seek energy alternatives. But oil markets respond to the chatter about alternative energy in two ways: Some producers might reduce investment in infrastructure or additional capacity, and others might increase...

The New Shipbuilding Boom: Giants of the Waves

Thomas Schulz February 26, 2007
Commercial shipbuilding is on the rise, with more than 5000 giant ships set to be launched over the next three years. The boom is a response to China’s growing export market, reports Thomas Schulz in “Der Spiegel.” Germany owns most container ships, followed by China, Japan and Taiwan. But Asian firms construct the large ships, most of which are so massive they cannot fit into European ports....