In The News

Terrorism and Oil

Mohamed Sid-Ahmed October 24, 2005
When the price of oil spiked in the 1970s, the profits were lost to corruption and thus only deepened oil-producing nations’ social problems. We can do much better this time, argues Mohamed Sid-Ahmed: the current boom in oil prices is an opportunity for oil producers to further develop their economies and lift their societies from poverty. There are signs of encouragement on this front: today...

Wolfowitz Calls for End to Farm Subsidies

Mark Tran October 24, 2005
Developed and developing nations must reduce their agricultural subsidies if the World Trade Organization’s current round of trade talks is to succeed, World Bank head Paul Wolfowitz said today. The EU and US must cut subsidies and guarantee market access to developing countries, he said, or “the people who will suffer the most are the world's poor." Yet Mr. Wolfowitz also called on...

Bolivia Provides a Tragic Lesson for Latin America

Norman Lamont October 21, 2005
Bolivia often escapes the notice of Europeans and Americans, writes Norman Lamont, and the country's current troubles merit much greater international attention. Bolivia has seen several governments overthrown over its recent history, and its likeliest contender for the leadership, Evo Morales, now seems determined to force through measures that will further destabilize the country. Morales...

China Builds Its Dreams, and Some Fear a Bubble

David Barboza October 18, 2005
China is experiencing a building boom, the scope of which means that cities like Shanghai now dwarf New York in terms of skyscrapers and vast networks of upscale apartment complexes. As a result of its unprecedented construction sector growth, China is scouring the world for energy and natural resources so that its cities, 170 of which have more than 1 million people, can meet and surpass Western...

U.S. faces challenges on three fronts

Kwon Ji-young October 14, 2005
In a speech at the World Knowledge forum in Seoul, Korea, renowned historian Paul Kennedy warned that America's status as an unchallenged global hegemon may be on the decline. The US faces three challenges that are currently threatening its sole-superpower status: terrorism, economic rivalries and a diminishing cultural reputation. At their current rates of growth, the economies of China...

As Polar Ice Turns to Water, Dreams of Treasure Abound

Clifford Krauss October 11, 2005
What will be left when the Arctic's polar ice cap is gone? The answer, in the eyes of the nations who border the Arctic Ocean, is untapped economic opportunity. New oil deposits, new fisheries, and new trade routes – including the fabled Northwest Passage – all promise tantalizing riches to what are now barren, frozen outposts. But who will get to tap those riches? Russia, Canada, Norway...

The Barbarians Learn How to Lobby at the Gates of Industry

Scott Kennedy October 5, 2005
While critics accuse the West of thumping the bible of market liberalism with one hand and maintaining protectionist tariffs with the other, China seems to be embracing a more consistent approach to globalization. This approach, reports Scott Kennedy, might be attributed to the concurrent interests of local companies and foreign investors. Whereas American industries often seek protection from...