In The News

China Protectionism Equals Votes

Christian Bourge September 15, 2003
US Treasury Secretary John Snow's failure to convince China to float its currency has been met with dismay by the Bush administration. As American unemployment grows in the manufacturing-heavy swing states like Pennsylvania and Michigan, Bush is looking to place blame elsewhere before he has to compete in the 2004 presidential election. China seemed like a good target – the US has a...

Only a Miracle Can Save China

Moisés Naím September 14, 2003
China may be growing too strong too fast for its own good. Rapid urbanization, an upwardly mobile middle class, and strained utilities and resources make an economic or political "accident" within the next decade inevitable, argues Moisés Naím. No state thus far has managed to expand so quickly in so many different directions without experiencing some sort of collapse—and China's...

Why China Should Not Revalue Its Currency

Linda Lim September 12, 2003
Many Americans are searching for someone to blame for their currently struggling economy. Higher unemployment, a drop in the value of the dollar, and low consumer confidence have made the booming 1990s a distant dream. Some US industries have reacted to the economic slowdown by accusing a top exporter, China, of purposefully undervaluing the yuan. Demands to decouple the yuan from the dollar...

Africans' Burden: West's Farm Subsidies

Marc Lacey September 10, 2003
Ugandan cotton farmers are a prime example of developing world farmers who are losing the competition with their subsidized counterparts in Europe and the United States; simply making ends meet is difficult. At the new meeting of the Doha trade talks in Cancun this week, African countries are demanding either an end to the American and European policy of subsidizing farmers – a policy which...

Hong Kong Entrepreneurial Spirit Shines On

Pana Janviroj September 10, 2003
Hong Kong's economy is not simply recovering in the wake of Sars, but remains vibrant and growing. By withdrawing the anti-subversion bill that motivated massive protests earlier this summer, the government seems to be prioritizing the revitalization of Hong Kong's economy. Many countries in Asia had closely watched the anti-subversion bill, because its handling had the potential to...

Western Farmers Fear Third-World Challenge to Subsidies

Elizabeth Becker September 9, 2003
‘French fries’ might have been replaced by ‘freedom fries’, and American tourists may have disappeared from the Eiffel Tower, but France and the US can still find some common ground at the upcoming WTO talks in Cancun. Farmers from both nations count on farm subsidies to supplement their incomes and drive down their costs. $300 billion are given by the world’s richest states to their farmers....

Crumbling Stability

Anke Bryson September 5, 2003
In 2003 Germany will violate the Maastricht "Stability and Growth Pact" for the third consecutive year, but this time the government isn't even sending an apology. Originally championed by Germany itself to check fiscal irresponsibility of smaller members, the pact stipulates that budget deficits may not exceed 3% per year in any of the Euro-Area countries. Now, however, the...