In The News

The McKinsey Global Survey of Business Executives, November 2004

December 16, 2004
Executives are significantly less optimistic about the global economy than they were a year ago, according to McKinsey's latest global executive survey. The weak dollar, volatile oil prices, and geopolitical uncertainty have dampened executive confidence around the world, especially in developed Asian countries. While European executives predictably take the dimmest view of George W. Bush...

Bush Needs Decisive Change of Course

Fred Bergsten December 14, 2004
As US account deficits deepen and global oil prices escalate, President George W. Bush will face some serious challenges in his second term. According to economist Frank Bergsten, neither the US nor world economies can afford an extension of Washington's economic and energy policy status quo. A combination of strong domestic fiscal action - deficit reduction to enhance savings - and...

South America Seeks to Fill the World's Table

Larry Rohter December 12, 2004
Though the United States remains the world's largest exporter of agricultural goods, it faces a stern challenge from Brazil. Agriculture has boomed in Brazil in recent years thanks to market-friendly economic policies and increasingly sophisticated methods of cultivation. Many Brazilian farmers have settled what has been termed Brazil's "untapped frontier" – its vast tracts of...

Latin America's family remittances -- heading south?

Andres Oppenheimer December 10, 2004
Every year, more than $30 billion in family remittances flows from the United States to Latin America. This money encourages economic growth, and many countries actually get more in remittances than from foreign investment. In addition, this money goes to those who need it most, helping to lift people out of poverty. However, a recent Columbia University study warns these countries against...

In Eastern Europe, Skepticism Over the Euro

Mark Landler December 6, 2004
While the euro continues to grow in strength and prominence, the trans-national currency has failed to win the enthusiasm of the European Union's newest members. Countries like Hungary and Poland have hesitated in planning their integration into the "one-size-fits-all" economy of the euro. Critics suggest that adopting the euro now will severely hamper Hungary's fast growing...

Central Asia: China's Mounting Influence

Jeremy Bransten November 24, 2004
From street markets to oil pipelines, China is extending its influence in Central Asian countries. As the Chinese economy booms, a major priority is securing natural resources to keep pace with demand. China and Kazakhstan have agreed to construct a regional pipeline, and in Tajikistan and Kyrgyzstan, China has invested in hydroelectric projects. In addition to bolstering trade ties, Beijing...

Wal-Mart Gives in to China's Union Federation

Richard McGregor November 23, 2004
The world's largest retailer, Wal-Mart has always been resistant to unionization in its stores around the world. As its business in China expands, the chain store is pressured by China's official All China Federation of Trade Unions to establish union branches in its many stores. In a recent statement, Wal-Mart stated that the company would be in full compliance with Chinese law, and...