In The News

China's Brutal Crackdown on Dissidents

Andreas Lorenz July 5, 2006
In the name of economic development, many Chinese citizens find themselves forced from their land and homes for construction of dams, roads or other projects. Added to the displacement are paltry offers of compensation and corruption, funneling the gains of China’s “economic miracle” away from its poorest people. The conflicts invite protest, but, as many of the country’s “difficult citizens”...

US Competes With China for Vietnam’s Allegiance

Jane Perlez June 22, 2006
It has taken Vietnam a mere 15 years to develop from a low-income country to one that is middle-income. As a result, Vietnam has emerged as a regional economic power in Asia, its growth only trailing that of China. The US and China are both eager to counter the other’s influence in Vietnam – increasing imports of goods, industry and culture to the nation. China last fought with Vietnam in 1979...

Economic Patriotism

Patricia Wruuck June 21, 2006
Protectionism in government-enforced industrial policy is rooted in domestic allegiances, yet can ultimately hurt local economies, writes Patricia Wruuk of Deutsche Bank Research. Economists agree that the free market is the best way to allocate goods and profits to a population, though some favor a more regulated industrial policy than others to ensure domestic sustainability and avoid the...

Why Dollar Hegemony Is Unhealthy

Thomas I. Palley June 20, 2006
The US dollar holds value for more countries than any other world currency and comprises about two thirds of world’s official foreign-exchange holdings. This dependence allows the US to run large trade deficits in purchasing a cornucopia of goods – from Porsches to t-shirts – by distributing paper IOUs in place of actual dollars. Because of a global faith in the voracious appetite of the US...

Pollution From Chinese Coal Casts a Global Shadow

Keith Bradsher June 16, 2006
Currently, China uses more coal than the US, the European Union and Japan combined. China’s global-warming gases such as carbon dioxide will “probably exceed that for all industrialized countries over the next 25 years,” note journalists Keith Bradsher and David Barboza in “The New York Times.” These emissions have widespread impact, increasing global temperatures and releasing harmful sulfur...

Global Capital on the Run

Robert J. Samuelson June 14, 2006
Around the world, stock markets are in a sharp decline, and analysts are trying to determine if herd mentality is at work or if the trend reveals other risks. At the same time, more investors venture beyond national borders in search of opportunities. Thirty years ago, foreign investing was tightly restricted, with the US as an exception to the rule, although the wealthiest of citizens always...

It’s Been Too Good for Too Long

Peter Hartcher June 13, 2006
Consumers, businesses and even countries have indulged in debt, funding all sorts of projects, from the luxurious to the ludicrous. But central banks around the world are acting to end the days of cheap liquidity, removing money and pushing up interest rates, warns journalist Peter Hartcher. After years of low interest rates and excessive spending, the US and its big spenders have most reason to...