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 Held Back From Manufacturing Success

Larry Elliott June 5, 2006
While some African nations can count themselves as rich in natural resources, a great proportion of raw materials produced in these mainly poor countries are exported to other continents for manufacture into finished goods. While Africa has potential for industrial development, the obstacles to growth are daunting. To begin with, the lack of infrastructure and training are widespread problems...

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...

When Germans Join Migrant Field Hands, the Harvest Suffers

Andreas Tzortzis June 1, 2006
Polish nurses take time off during the asparagus harvest in Germany, where they can earn six months of nursing wages with only two months in the fields. Polish migrants traditionally harvest the spring asparagus crop in Germany – and appreciate the pay for work that is long and strenuous. The system pleased both migrants and farmers, but the German Labor Ministry – responding to a 11 percent...

Globalization: How the New Shift of Power Is Affecting Inflation

Hamish McRae May 31, 2006
Because of globalization, manufacturers must pay increasing prices paid for raw goods like oil or minerals, and consumers discover dropping prices for products on store shelves. This analysis of the International Monetary Fund’s “World Economic Outlook” suggests that ten years ago, developed countries provided the impetus for trade, but the emerging economies of India, China and Eastern Europe...

Russia's Energy Diversification Moves

Vladimir Radyuhin May 31, 2006
Blocked from investing in Europe’s retail energy market, Russian firms seek other customers in Asia, including Japan and China. The nation has substantial natural gas and oil reserves, and Gazprom, Russia’s natural-gas firm, anticipates acquiring stakes in the EU distribution network. However, the EU has balked, expecting Russia to open its own energy markets and abide by western standards of...

Going Dutch Has New Meaning in Corporate Takeover Battles

Adam Cohen May 30, 2006
The Netherlands, a country long known for its tolerance and openness to outsiders, has found itself in the center of an EU-wide debate between protectionism and consolidation of industry. Luxembourg steelmaker Arcelor SA recently formed a “stichting” in the Netherlands in an attempt to keep its Canadian unit, Dofasco, out of the hands of Mittal. Dutch law, endorsed by the EU, allows for the...