In The News

Cut Fuel Use and the Trade Deficit

Bruce Stokes September 14, 2007
An old saying suggests that “killing two birds with one stone” is the height of efficiency. Pressuring China to re-set the yuan to a higher value and cut subsides has not helped to lower the US trade deficit. Instead, the US could take immediate action regarding one major import, suggests Bruce Stokes. “Net US outlays for imported oil and natural gas exceed the nation’s trade balance with China,...

US Must Reassert Global Leadership

Samuel R. Berger September 13, 2007
Intent on the war in Iraq, the US has reduced its involvement elsewhere in Asia, South America and Africa. Meanwhile, China and Russia have stepped into the vacuum, warn former Clinton administration officials, Samuel Berger and Eric Schwartz, writing for the Boston Globe. China has provided billions for roads, ports and other projects in nations like Laos, Cambodia and the Philippines, they...

“Fed, We Have a Problem”

Jeffrey Garten September 12, 2007
Governments with checks and balances are accustomed to internal quarrels over the best ways to solve problems. Such is the case for the US in confronting a sub-prime mortgage crisis that threatens consumer spending, credit availability and jobs around the globe. Firms and investors facing immediate losses from the crisis urge the chairman of the US Federal Reserve System, Ben Bernanke, to lower...

Globalization and Cultural Diversity

Michael Lynton September 12, 2007
Those who oppose globalization are especially sensitive about loss of culture. But the American film industry does not contribute to the homogenization or Americanization of culture, argues Michael Lynton, chairman and CEO of Sony Pictures Entertainment. “Instead of creating a single, boring global village, the forces of globalization are actually encouraging the proliferation of cultural...

Bin Laden Unplugged: Analyzing the Latest Video

Daveed Gartenstein-Ross September 12, 2007
Osama bin Laden, mastermind of the 9/11 attacks, released a video criticizing global warming, capitalism, campaign financing by corporations and interest-bearing loans. From hiding, the international fugitive derides the media as “a tool of colonialist empires,” yet tailors a message hinting that he follows the news. Urging that religion, as outlined in the Koran, can replace current standards in...

Paulson Urges Restraint in Policy on China Trade

Steven R. Weisman September 11, 2007
US Treasury Secretary Henry Paulson warned that any legislation aimed at punishing China could aggravate jittery markets and increase volatility. “Unilateral actions aimed at another nation” – especially a nation that continues to fund hefty portions of US debt – could disrupt the global economy, he warns. Increasing numbers of US firms report logging more revenue from overseas sales than those...

Russia is Building Up Its Power on Feet of Clay

Joschka Fischer September 10, 2007
Russia spans two continents, making it a geostrategic giant. With some of the world’s largest reserves of fossil fuel, the nation is a volatile economic hard hitter. Since the fall of the Soviet Union, Russian politicians have opened to more trade and global negotiations with the US and Europe, but strains of authoritarianism run deep. Europe, concerned about intrusion or bullying, would prefer...