In The News

The War Over Lipitor

Katherine Eban May 16, 2011
A generic version of the world’s top-selling prescription drug – Lipitor – was anticipated this fall, and Katherine Eban, writing for Fortune, suggests that “Generic-drug companies are now feuding like greedy relatives at Lipitor's graveside.” Exclusive rights to sell drugs end 20 years after the patent application is filed. The first generic maker to file patent for a viable substitute – in...

Sky Wars: Europe Battles to Erase Borders in the Air

Daniel Michaels May 9, 2011
Money does not necessarily guarantee safety or efficiency, and Europe is trying to reduce airline industry costs by eliminating national boundaries and bureaucracy in air-traffic control. Iceland’s 2010 volcanic eruption, spewing ash into the sky, demonstrated haphazard rules and need for coordination. “The battle for Europe's skies – which directly affects every traveler, economy and air...

WTO Doha Round: Do or Die

Richard Baldwin, Simon Evenett May 6, 2011
The deadlocked Doha Round of trade negotiations, nearly a decade old, has been subjected to numerous delays. With the political calendar making it difficult for major players to make concessions, time is running out to complete negotiations, contend Richard Baldwin and Simon Evenett, professors of international economics and international trade, respectively. Economic hardship, elections and...

Foreign Dollars for an American Dream

Coeli Carr May 6, 2011
To create jobs, governments typically invest in local businesses. But Ecuador looked beyond its borders and invested in Runa, a small New York–based firm that markets guayusa, a caffeinated drink. The investment tackles numerous policy goals: The drink is made from leaves of holly, native to the Amazon; developing a commercial product could preserve rainforest and aid indigenous communities. Napo...

Battle Pits Cocoa Speculators Against Chocolate Makers

Hauke Goos, Ralf Hoppe May 3, 2011
In recent years, many forces influence cocoa trading prices, including attempts by speculators to corner world markets. “Speculators act as accelerants – and the smaller the market, the easier their game,” report Hauke Goos and Ralf Hoppe for Spiegel Online. Cocoa is among the smallest commodities markets, requiring only £7 billion to buy an entire year's harvest, and a few financiers can...

Advanced Economies: Minutes to Midnight? Part II

Bruce Stokes May 2, 2011
To encourage growth, governments borrowed to finance infrastructure and current expenditures, and anticipated revenues to eventually cover the costs. Low interest rates led to surging debt, investment bubbles and unrealistic growth projections rather than a sustainable economy with jobs and tax revenues. This two-part series analyzes the impending crisis for advanced economies. Europe had hoped...

Limits of Chinese Power in Southeast Asia

Evelyn Goh April 26, 2011
A growing economy does not necessarily translate into political influence. Beijing sways economic choices of members of the Association of South East Asian Nations through trade but less so in security matters, suggests analyst Evelyn Goh. “China’s burgeoning economic rise has restructured economic networks in East Asia, fueling regional production for China as the final assembly and export point...