In The News

America’s Truth Deficit

William Greider July 18, 2005
With countless jobs moving overseas and a growing trade deficit amounting to 25 percent of GDP, the United States today is losing ground in global competition and becoming more dependent on its strategic rivals. Leaders in politics, business, finance, and the news media have long been reluctant to discuss these problems. Instead they have obscured the trade problems with debates about currency...

Living Up to the Fables, Ancient and Modern

N. Ravi July 13, 2005
The Indian economy has swelled in the past few years, to the point that politicians regularly predict that China and India will soon become the world's largest economies. In this editorial, N. Ravi challenges these "modern fables," questioning the likelihood that India can catch up to China and the world's leading economies. Though the overall economy of India will doubtless...

Choking on Aid Money in Africa

Erich Wiedemann July 5, 2005
When G-8 leaders assemble at the summit in Scotland this week, they face an increasingly complex challenge of reexamining aid packages currently being offered to Africa. Despite the large sums of foreign aid flowing into the troubled continent each year, Africans continue to suffer from malnutrition and disease. Citing factors such as incompetent planning and corruption, a growing number of...

In India, Economic Prosperity Is Spreading Slowly

Saritha Rai July 5, 2005
The boom in India's technology sector, and its status as the top destination for many American and European outsourcers, has brought the country high growth and a widespread boost in standard of living – at least for the middle and upper classes. But the majority of Indians, especially those in outlying rural areas, still live in poverty and do not reap the benefits of India's success...

CNOOC Is Not Yet Ready for Unocal

July 4, 2005
As one of the countries that host Unocal's energy holdings, Thailand will experience the direct effects of the US oil company's acquisition by either American-owned Chevron or China's CNOOC. This editorial emphasizes that though Thailand values its relationship with the United States and its ties with China equally, the country's business community would prefer that Chevron...

Asian Reaction to Unocal Bid Is Muted

Wayne Arnold June 30, 2005
China’s pending bid for Unocal, a California-based oil company, has profound implications for several Southeast Asian countries, where about half of Unocal’s assets are located. And yet these countries – Vietnam, Indonesia, Thailand and Myanmar – appear less concerned about the possible transfer of power from the US to China than most American policy-makers are. Part of this lackadaisical...

A New Asian Invasion

Dan Roberts June 23, 2005
Two high-profile deals have brought Chinese companies into the spotlight: The China National Offshore Oil Corporation (CNOOC) bid on the Unocal oil group, while appliance manufacturer Haier set its sights on Maytag. Several Chinese companies are actively pursuing US industrial assets, stirring debates within Washington regarding trade policy and job displacement. The Unocal bid has also...