In The News

Beyond Macro Reforms

Luis Alberto Moreno May 11, 2006
Economies throughout Latin America and the Caribbean are flourishing, enjoying steady growth rates along with inflation and fiscal deficits under control. Still, Latin American countries have low incomes and a low share of world trade, struggling to compete with Asian competitors in India, China, Japan and Korea. Luis Alberto Moreno, banking executive and former economic official for Colombia,...

Work in Progress: Prosperity in Home Countries May Not Stem Tide of Migrants to the US

Joel Millman May 9, 2006
Economists and politicians long assumed that increasing jobs in impoverished nations could slow illegal immigration from those countries. Yet one study suggests that increased opportunities in home countries like Mexico or Brazil promote skill development. Many workers still want to apply new skills in the nation that offers the best pay and standard of living. Analysts suggest that the chance to...

Globalization Is a Story Still to Be Written

Sheldon W. Stahl May 3, 2006
Despite all the commentary on globalization, the ultimate question of whether the phenomenon enables progress or detracts from quality of life remains to be answered. Undeniably, globalization delivers tangible benefits, many visible in the US. A greater array of high-quality goods at lower prices is one benefit, while foreign direct investment can provide new employment opportunities. Such...

Time to Consider Pumping Money Into Infrastructure

Kenneth Rogoff May 3, 2006
Professor and economist Kenneth Rogoff argues that bouts of anxiety frequently accompany annual International Monetary Fund (IMF) meetings. Fear of any potential financial crisis is contagious and exerts paralysis even on world leaders. Many countries should stop piling up on safe investment such as US Treasury bills, Rogoff contends, and recognize that the global economy is actually enjoying a...

Moment of Truth

Robert Scheer May 1, 2006
US polls cite illegal immigration a major concern, and politicians are divided over solutions. Yet the personal economic decisions by most US citizens tend to show more concern about low prices than protecting jobs or wages on the whole. Author Robert Scheer labels the so-called immigration “crisis” as fiction. Throughout history, whenever perceptions emerge about national security threats, low...

East Asia’s Troubled Waters – Part I

Wenran Jiang April 25, 2006
In recent history, Asian neighbors such as China, Japan and South Korea have transformed from traditional foes to complementary trading partners. But this three-part series explores how competition for natural resources rekindles historical grievances, fueling nationalism and confrontation. Rising tension over the waters demonstrate how increased interdependence brought about by globalization may...

IMF Expands Role in Seeking to Reduce Trade Imbalances

Paul Blustein April 25, 2006
The International Monetary Fund has focused attention a new concern – massive global imbalances. Of particular concern are the burgeoning US budget deficit; China’s currency, which some claim is undervalued; and increasing investment in the energy-related infrastructure of oil-producing countries. The IMF was created 60 years ago to deflect international crisis. But some economists suggest that...