In The News

Kenyan Farmers’ Fate Caught Up in US Aid Rules

Celia W. Dugger August 2, 2007
US legislators debate a massive farm bill – estimated at more than $260 billion – which will fund loans, subsidies, conservation and many other agriculture activities over the next five years. The Bush administration has proposed allowing the purchase of up to $300 million worth of food in poor countries to quicken response times during times of emergency. The US often provides food aid to Africa...

Summer of Setbacks

Ernesto Zedillo August 1, 2007
Summer of 2007 may well be remembered for a string of bad financial news: increasing numbers of homeowners in the US struggling to pay home mortgages, the decline of the US dollar, and climbing oil prices as conflict and tension linger in the Middle East. Yet the world economy flourishes despite shocks in foreign exchange and the debt markets. Ernesto Zedillo, director of Yale Center for the...

US Pledges $20 Billion in Arms to Middle East

Robin Wright July 30, 2007
The US announced plans to sell billions of dollars worth of weapons to Saudi Arabia, as well as to renew arms deals with Egypt, Israel and other allies. Goals behind the US plan include strengthening ties with allies and countering Iran’s growing influence in the region. However, some allies express concerns about more weapons flowing into the volatile region. Analysts point out that some...

Globalization Study Moves Past Rhetoric

David Wessel July 27, 2007
Corporations have long insisted that globalization delivers prosperity. But a report commissioned by the Financial Services Forum, an association of CEOs of 20 major financial firms, admits that most benefits have gone to a select few. International operations increasingly account for most sales and business conducted by multinational firms, writes David Wessel for the Wall Street Journal. But...

In Africa, Mortgages Boost an Emerging Middle Class

Michael M. Phillips July 26, 2007
A growing middle class in Africa requires housing, but political and economic instability often contribute to shortages. The wealthy can pay cash for homes, but financing home purchases is difficult in a country where only 16 percent of the population holds salaried jobs. In Zambia, the Lilayi project tackles the problem with a suburban development, funded by public and private investors, that...

Chinese Media Star Gives Starbucks a Jolt

Mitchell Landsberg July 19, 2007
When Starbucks coffee shop opened in the Forbidden City seven years ago, China was striving to join the international economic community. Now, the country’s citizens are divided about adopting international trends versus preserving cultural and historical heritage. Rui Chenggang, a television anchor, wrote a blog entry protesting a Starbucks in the Forbidden City, claiming that it “trampled over...

Free Rider Not Free Market

July 18, 2007
France argues that the euro’s increasing value undermines French exports. But finance ministers from other nations disagree, arguing that French labor policies, offering lavish benefits for workers, discourage interest in French exports. At a meeting with eurozone finance ministers, French President Nicolas Sarkozy demanded a two-year extension on an agreement that requires France to balance its...