In The News

Relax, Democrats Might Not Be So Protectionist After All

Edward Gresser November 14, 2006
Pundits worldwide suggest that Democratic control of the US Senate and House of Representatives after the November 7 election spells doom for free trade. But the Democratic Party has a tradition of economic internationalism, beginning with presidents such as Woodrow Wilson who served from 1913 to 1921. The party’s leaders have put forward a domestic agenda that aims at calming the anxiety of...

The Perils of Beijing’s Africa Strategy

Elizabeth Economy November 7, 2006
As China wines and dines African leaders in Beijing this week, it ought to be aware not only of its own success in courting Africa but in the limits of that success. China has established major economic links throughout Africa in no small part because of its laissez-faire approach to African countries’ internal politics, doing business with nations like Sudan and Zimbabwe despite of their poor...

Apocalypse Now

David Adam November 4, 2006
A report released by the British government has everyone talking about the weather, and contains dire reasons for the world to start doing something about it. The 600-page Stern Report warns that, unless drastic measures are taken to combat global climate change, average temperatures will rise 2 or 3 degrees Celsius in the next half century, which will in turn melt ice fields, raise sea levels,...

Vietnam’s Roaring Economy Is Set for the World Stage

Keith Bradsher October 30, 2006
Vietnam’s renunciation of statist economics in favor of capitalism in the early 1990s was a surprising development for the global markets. Along with China’s embrace of the market, Vietnam’s success story has raised the living standards of its citizens, drawn a large contingent of high-skilled émigrés back to the country and created a strong base for future development. Multinational...

Beijing Hosts Big Africa Summit as West Watches

Shai Oster October 25, 2006
China has made no secret of its interest in Africa. Now the nation will host a lavish summit for the leaders of 48 African nations. One assistant foreign minister fends off criticism about China’s motives, pointing out that the nation pursues mutual interests with Africa in a transparent and open manner. “China has nothing to hide,” said Zhai Jun. Western oil companies have expressed some...

Panama Votes to Expand its Canal

October 25, 2006
With expanding global trade, container ships have more than doubled in size. To accommodate the massive ships, Panamanians approved the addition of a third navigational channel and construction of larger locks for the canal that crosses their country. The extra channel might also ease congestion at the canal, where ships sometimes wait days to cross between the Atlantic and Pacific oceans....

OPEC President Scrambles for Output-Cut Consensus

Bhushan Bahree October 16, 2006
Consumers are unlikely to be sympathetic, but OPEC’s president is striving to get the cartel to reduce oil production to halt an ongoing fall in oil prices. While prices are still more than twice as high as they are three years ago, they have fallen considerably off their recent peaks. President Edmund Daukoru is determined to prevent any further drop as the world’s economy slows. Individual...