In The News

Central Asia: Conference Asks What Lessons Can Region Learn from EU

Breffni O’Rourke March 5, 2003
Can the kind of economic integration that the European Union (EU) now enjoys be applied to Central Asia? The development of a single European market has raised standards of living across Europe, and the Organization for Security and Cooperation in Europe (OSCE) is looking for ways to develop a similar system for Central Asian states. But with a markedly different history, and given the current...

Antismoking Measures Gain in Tobacco Country

David M. Halbfinger March 4, 2003
For some it is simple economics - cheap labor and fewer restrictions on pesticide use can easily lure US cigarette manufacturers to Brazil, Argentina, or Zimbabwe. But US tobacco farmers see it as a betrayal at the hands of the same people they stood by during the tobacco wars. Now their surprise switch to the anti-smoking lobby camp could mean major victories for health issues in the very heart...

Does the “Hyper-Power” Have Feet of Clay?

David Dapice March 3, 2003
If you look past its formidable military machine, America is not as powerful as it seems. Tufts University economist David Dapice points out that the current view of the United States as a “hyper-power” fails to take into account the country's many economic vulnerabilities. A country that relies on over $1.3 billion in capital inflow each day to finance its import appetite may not be able...

Deal on Setting Up Single European Patent

Francesco Guerrera March 3, 2003
After thirty years of disagreement, governments of the European Union have reached a deal to set up a single European patent. The new patent will be valid in up to 25 nations by the time the agreement takes effect. The deal has been hailed as a testament to the EU’s ability to put aside the differences of member countries in order to shape a European economy that is more competitive globally. –...

McDonald’s Strives to Regain Ground

Sherri Day March 3, 2003
McDonald’s is often considered the ultimate American business success, and, with restaurants in over 50 countries, a symbol of American cultural dominance. Changing tastes in America and many failed menu items have contributed to a long, slow decline for McDonald’s in the US, however, and the chain plans to stop operating in three countries. Owning a McDonald’s franchise is not the instant...

Bubbling Up

February 28, 2003
World oil prices are higher than they have been in years, and economists have begun to speculate about the effect an oil shortage may have on the global economy. Not only has the impending war in Iraq made oil markets jumpy, but the strike in Venezuela and the possibility of conflict in Nigeria have contributed to the situation. On top of that, recent demand for oil has been high during the...

Less Sheep for Sharing

Injy El-Kashef February 13, 2003
The sacrifice of sheep traditionally marks the Islamic celebration of Eid Al-Adha. For Muslims, the sacrifice is a non-obligatory act of charity, with those of all classes donating a share of their sheep to the less fortunate. In Egypt, however, recent economic troubles have interfered with the celebration. The floatation of the Egyptian pound and its subsequent decline in value in relation to...