In The News

Paulson Urges Restraint in Policy on China Trade

Steven R. Weisman September 11, 2007
US Treasury Secretary Henry Paulson warned that any legislation aimed at punishing China could aggravate jittery markets and increase volatility. “Unilateral actions aimed at another nation” – especially a nation that continues to fund hefty portions of US debt – could disrupt the global economy, he warns. Increasing numbers of US firms report logging more revenue from overseas sales than those...

Biofuelling the Food Crisis

John Vidal September 10, 2007
The notion of an automobile powered by fuel produced from plants appeals to any nation worried about dependence on foreign oil or declining oil reserves. A biofuel boom presents ostensibly environmentally-friendly implications, yet leads some analysts to predict a food crisis for the world’s most vulnerable populations. Plants for fuel will inevitably compete with food-plants, prompting rising...

The Great Leap Backward?

Elizabeth C. Economy September 7, 2007
China has become a leading polluter in the world, with its citizens suffering from air pollution, decreasing supplies of potable water and reckless development. Consumers around the world buy inexpensive goods from China, but do not pay the true costs. The country has environmental laws, but businesses and local leaders ignore them in order to increase jobs and profits. The nation is capable of...

Big Questions for Big Oil

Sacha Kumaria September 5, 2007
Oil prices will probably rise with the approach of winter in the northern hemisphere, continuing a wave of profits. But the world’s largest oil companies plan for contraction rather than expansion. National oil companies in countries like Russia or Venezuela, as monopolies, demand high payments from the competing independent firms, allowing less funds for research and development. Independent...

India’s Third Liberation

John Elkington September 4, 2007
India has experienced liberation, first winning independence from the UK in 1947 while also enduring partition with the creation of Pakistan and Bangladesh, and then loosening state control of the economy in the 1990s to accept reform, privatization and globalization. But great poverty still lingers in the nation, calling for a third stage of liberation, suggests John Elkington writing for...

Calls Grow for Foreigners to Have a Say on US Market Rules

Heather Timmons September 1, 2007
Some US homeowners have adjustable rates on their home mortgages. As interest rates rise, they struggle to repay loans and keep the homes. The problem went global after lenders sold those loans: Financial firms packaged mortgages with other types of debt; US credit-rating agencies slapped high rates on the packages; and investors in Asia and Europe purchased the loan packages, assuming that the...

In an Interconnected World, American Homeowner Woes Can Be Felt From Beijing to Rio de Janeiro

The Associated Press August 31, 2007
The biggest surprise about the US mortgage crisis – even for the experts – is how some bad home loans led to a credit crunch that hurts insurance, textile, telecommunications and other industries around the globe. To prevent an economic slowdown, central banks around the world have inserted billions into the credit markets. Manufacturers around the globe worry about reports that debt-laden...