In The News

So You Think 7/7 Has Brought Britain and America Together? Think Again

Gerard Baker July 10, 2006
Gerard Baker, a British ex-pat living in the US, monitors the increasingly negative views of his countrymen towards the US. The British not only strongly dislike the Bush administration and its policies, but also target American society with their criticism. The British do not see President Bush as an aberration, but a symbol of American swagger. Since a lack of nuance is one of the...

Imbalances Can’t Go on Forever

Ernesto Zedillo July 10, 2006
The current strength of the world economy is not enough to protect against the global financial crisis that could result if imbalances such as the US account deficit go unresolved. Economists supply a range of explanations as to what facilitates US debt. Expectations of higher income and productivity make saving seem less urgent, and the US remains an attractive place for other countries to...

North Korea's Neighbors Keep Friendly Tone

Evan Ramstad July 8, 2006
The world is alarmed by the test launch of seven missiles by North Korea, yet South Korea and China decline to issue a tough response. Instead South Korea reaffirms its “sunshine” policy and China reasserts its “friendly” relations with its neighbor to the east. In the United Nations, meanwhile, China and Russia were the only two states on the Security Council to oppose a Japan-sponsored...

World Puts the Brakes on the Rush to Globalization

Steven Pearlstein July 7, 2006
A backlash against globalization flourishes in countries that have benefited from active trade, including the US and China. Author Steven Pearlstein cites the failure of Doha, the polarized Mexican electorate and the US debate on immigration as evidence of the continued potency of the nation-state and the national economy. Rather than preaching about the dangers of protectionism and...

Smiley Face Is Serious to Company

Thomas Crampton July 6, 2006
Trademark and patent laws have not kept pace with globalization – and conflicting laws among nations raise the question about whether a trademark registered in one country has any bearing on use in another. “We may live in the era of globalization, but trademarks are still rooted in territoriality," explains one attorney who specializes in intellectual property. In 1997, the French company...

Controlling Carrots and Sticks

Michael M. Phillips July 5, 2006
By creating the Millennium Challenge Corporation (MCC) in 2002, the Bush administration attempted to reshape how the US distributes foreign aid. The MCC allocates aid based on more than a dozen criteria, such as control of corruption and civil liberties. Thus far, the MCC has not had any qualms about denying or suspending aid to countries that do not meet its guidelines. This strict adherence...

Oil-Rich Russia Makes Ruble Convertible

Nick Paton Walsh July 5, 2006
Capitalizing on its growing status as a global energy supplier, Russia is making the ruble fully convertible in an attempt to renew its currency’s international status. The move will decrease the government’s control over the value of the ruble, opening the door for foreign investment in the currency. Riding dual waves of oil money and optimism, Russia is paying off its Soviet-era debts to the...