In The News

Deflating Bush's China balloon

William Pesek Jr. December 17, 2003
The Bush Administration is pressuring China to float its currency, the yuan, instead of pegging it to the US dollar. Administration officials argue that the yuan is currently undervalued and is thus hurting the US economy. This week, Alan Greenspan, the US Federal Reserve chairman, said that a rise in the relative value of the yuan would have little effect on US employment, as companies would...

Donors Warn of Lost Foreign Expertise

Rungrawee C Pinyorat December 12, 2003
Believing it has 'outgrown' the need for international donors' assistance, the government of Thailand has announced that it will no longer accept technical assistance from foreign countries. Once a recipient of Official Development Assistance (ODA) from countries such as Australia, Thailand has refused grants and soft loans for some time. The rejection of the third form of ODA –...

War Opponents Denounce U.S. Rules on Contracts in Iraq

Jackie Spinner December 10, 2003
Citing security concerns, US officials have announced that only those countries that supported the invasion of Iraq will be allowed to bid on $18.6 billion in reconstruction contracts. The decision enraged Russia, Germany, France, and Canada, who under the decision will be excluded from much of the biggest nation rebuilding effort since the Second World War. Igor Ivanov, the Russian foreign...

Jobs Here and in China a White House Topic

Jim Yardley December 9, 2003
As President Bush met with the Chinese premier Wen Jiabao this week, he pressed the issue of American jobs lost to China. But in spite of a recent economic boom, China has its own job-related woes. The country's economic restructuring has caused massive layoffs at older state-owned factories. And the Chinese countryside has too many farmers to fit on a diminishing amount of usable land....

Terror Takes Toll on Kenya's Tourism Industry

William Wallis December 8, 2003
Kenya's tourist industry used to be able to count on the Christmas season as a peak time of year. Now, after two terrorist attacks in recent years, UK and US officials are telling their citizens not to go, and people are heeding the warning. Hotels are seeing occupancy of 10-25% only, and the whole economy is being dragged down as a result. Kenyans feel unfairly singled out, for, as they...

Harvesting Poverty

December 7, 2003
America’s cotton, among other crops, is exported internationally in large amounts each year, despite the fact that it often sells for less than it costs to grow. This is because of the US government’s high agricultural subsidies. Countries such as the US, argues this editorial, unfairly render the crops of poorer countries like Brazil uncompetitive in the global market. Furthermore, wealthy...

An Ohio Town Is Hard Hit as Leading Industry Moves to China

Joseph Kahn December 7, 2003
Like many small industrial towns, Bryan Ohio has a few big employers. When one of them – the Ohio Art Company – decided three years ago to move its signature product line, the "Etch A Sketch" toy, to China, the community felt both the loss of 100 jobs and the loss of a community symbol. Etch A Sketch models used to decorate the town, but no longer. Due to "ineluctable laws of...