In The News

The IMF’s Next Mission?

Harold James January 10, 2008
With imbalances threatening ongoing disruption to the global economy, Harold James, history and international relations professor at Princeton University, proposes a new task for the International Monetary Fund. In the past, the IMF has served as a crisis manager for global economic problems, and James proposes that the IMF assist nations with massive sovereign funds. China has $1 trillion in...

World Food Stocks Dwindling Rapidly, UN Warns

Elisabeth Rosenthal January 10, 2008
Extreme weather events, a growing population, increasing affluence adding more meat to diets and diversion of grain crops for subsidized biofuels have led to depleted food reserves and soaring prices reserves. High oil prices add to the complications of transferring food aid to the most vulnerable developing nations. Wealthy nations can compensate by reducing tariffs and importing more grain,...

An Empowered Middle East – Part I

Pranay Gupte January 10, 2008
President George Bush’s trip to the Middle East comes at a time when Iraq is stabilizing and the oil-producing countries’ fortune is rising. Bush will visit Israel and Saudi Arabia, also making stops in Palestine, Kuwait, Bahrain, the United Arab Emirate and Egypt, perhaps even Iraq and Lebanon. Along the way he’ll witness results of US foreign policy – diplomacy, intervention and some neglect. A...

The Globe’s Most Important Relationship

Morton Abramowitz January 8, 2008
China, Japan and the US may not enjoy the most comfortable of partnerships, considering each nation’s competitive streak and occasional differences over trade, global governance and security issues. But the partnership works and is improving, with the potential for resolving many regional and global problems, explains Morton Abramowitz, former US ambassador and senior fellow at the Century...

Redder Than the Real Thing

Ian Williams January 7, 2008
To secure Chinese favor, the United States has devalued Taiwan’s quest for democracy. America’s official stance is pro-China, despite the inequality and injustice propagated by the Chinese government, says the author. Ironically, the superior form of governance is the form practiced by Taiwan, and that is the European-style social democracy, which America should appreciate more, logically...

Oil Hits $100, Jolting Markets

Neil King Jr. January 4, 2008
The global economy depends on oil – and most of the world’s major economies are in short supply. Western oil companies now control about 10 percent of proven reserves, and with increasing demand from emerging economies, governments and industries belatedly scramble to improve efficiency and find energy alternatives. High demand for oil and the increasing price is shifting priorities and shaping...

The Invisible Hand of Globalization

Susan Froetschel January 3, 2008
Despite exponentially-advancing understanding of economic forces over the 20th century, Adam Smith’s invisible hand continues to elude. In his recently published book none other than former Chairman of the US Federal Reserve Alan Greenspan essentially throws up his hands. Every time a financial crisis hits the world, like the current turmoil caused by sub-prime mortgage lending in the US, calls...