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June 2007 Archives


21 Solutions to Save the World Recommended!
FP May/Jun 2007
We live in an age of anxiety. People everywhere fear the next terrorist attack. Meanwhile, we slowly grow numb to Iraq’s endless string of kidnappings and suicide bombings. Between bird flu, tsunamis, and loose nukes, our list of fears is getting longer. So, we asked 21 leading thinkers: What is one solution that would make the world a better place? Here are their answers.

Be Our Guests
Dani Rodrik (NYT) Jun 1, 2007
A guest worker program is the most effective contribution we can make to improving the lives of the world's working poor.

No more the 'hopeless continent'
IHT Jun 1, 2007
Africa is succeeding - not in spite of the international community's apathy or unreliability, but because of it.

Strategies: Avoiding market lockstep
IHT Jun 1, 2007
Stock markets around the world are more in synch with one another than they have ever been. This has led some investors to question whether owning international shares does anything to reduce volatility in a stock portfolio.

Entry Level: Rebalancing a portfolio at the top of its game
IHT Jun 1, 2007
As stock indexes surge around the world, investors are faced with a basic and very difficult decision: hold tight or take profits?

Lost In Translation
Economist Jun 1, 2007
American politicians urge China to revalue its currency, but economists point out that this would end up hurting the US economy.

Currency Trap Wall Street Journal Subscription Required
Michael Pettis (WSJ) Jun 5, 2007
China is printing too much money.

Why Africa Needs a Marshall Plan
R. Glenn Hubbard & William Duggan (AEI) Jun 5, 2007
Only the implementation of the Marshall plan with an eye toward business development can bring sub-Saharan Africa out of economic futility.

China makes a move into high-value exports
IHT Jun 7, 2007
China's auto parts exports have increased more than sixfold in the past five years.

Fleeing Taiwan Wall Street Journal Subscription Required
WSJ Jun 8, 2007
Capital is leaving for good reasons.

G-8 trumpets victory on climate accord
IHT Jun 8, 2007
The United States agreed Thursday to "seriously consider" a European plan to combat global warming by cutting greenhouse gas emissions in half by 2050. The deal averted a trans-Atlantic deadlock at a meeting here of the Group of 8 industrial nations.

Rise in China's Pork Prices Signals End to Cheap Output
NYT Jun 8, 2007
Rising prices are causing Chinese companies to raise prices for exports, particularly on one critical commodity: pork.

Trade Deficit Narrowed a Bit in April
NYT Jun 9, 2007
Growth has slowed in the United States, but economies in Asia and Europe are surging and snatching up more and more American exports.

A Brief History of Economic Time Wall Street Journal Subscription Required
Steven Landsburg (WSJ) Jun 9, 2007
How the world grew rich.

Robert Mundell and the Yuan Riddle Wall Street Journal Subscription Required
Hugo Restall (WSJ) Jun 9, 2007
"The dollar era is going to last a long time, perhaps another hundred years."

Zoellick puts Africa at top of agenda
IHT Jun 10, 2007
Robert Zoellick, who has been nominated to become the president of the World Bank, said over the weekend that he would make Africa his top priority and defended lending to China despite its record currency reserves and the fastest economic growth of any major economy.

Should We Globalize Labor Too?
Jason DeParle (NYT) Jun 10, 2007
If the poor want to work and jobs are available, what's so special about national borders anyway?

The Last 'Competitive Advantage': Letter From China
Jehangir S. Pocha (The Nation/YaleGlobal) Jun 12, 2007
The fate of globalization may rest in the hands of a few sovereign wealth funds.

Investing in Africa Wall Street Journal Subscription Required
WSJ Jun 13, 2007
The road to prosperity isn't paved with handouts.

NAMA Divisions Come to the Fore as New Modalities Push Begins in Earnest
BRIDGES Weekly Trade News Digest - Vol. 11, Number 21 Jun 13, 2007
WTO Members appear set to make their most concerted attempt yet to reach an agreement in the troubled Doha Round negotiations. Although differences on farm trade have hogged the limelight since the talks began in 2001, negotiators say that it has now become apparent that divisions on industrial tariffs are no less serious.

G-20, G-33 Ministers Underline Priorities Before "Decisive Phase" in Doha Talks
BRIDGES Weekly Trade News Digest - Vol. 11, Number 21 Jun 13, 2007
Ministers and top officials from a wide range of developing countries came to Geneva on 11 June to express solidarity and call for action on their countries' concerns, as the troubled Doha round talks enter what they described as a "decisive phase." They reiterated calls for rich countries, especially the US, to offer deeper farm subsidy cuts; several warned that they would not accept disproportionate demands to reduce their own industrial tariffs.

US Trade Policy Appears Stuck in Neutral, As TPA Mandate Winds Down
BRIDGES Weekly Trade News Digest - Vol. 11, Number 21 Jun 13, 2007
One month after the Bush administration and leading Democrats struck a much-touted compromise on trade, the immediate future of US trade policy remains murky. Persistent scepticism in sections of Congress about the benefits of economic globalisation means that support for some bilateral trade deals is far from clear. So too is willingness to renew the president's negotiating authority - necessary for the Doha Round WTO talks.

The Dangerous Allure of Currency Unions
Desmond Lachman (AEI) Jun 13, 2007
Let us hope that Asian and Latin American countries learn from the perils of the euro and avoid forming currency unions.

The Humanity of Trade
Frank Chodorov (Mises Daily) Jun 13, 2007
Wherever two boys swap tops for marbles, that is the marketplace. The simple barter, in terms of human happiness, is no different from a trade transaction involving banking operations, insurance, ships, railroads, wholesale and retail establishments; for in any case the effect and purpose of trade is to make up a lack of satisfactions. The boy with a pocketful of marbles is handicapped in the enjoyment of life by his lack of tops, while the other is similarly discomfited by his need for marbles; both have a better time of it after the swap.

Serbia and EU resume formal talks
IHT Jun 14, 2007
Formal talks between Serbia and the European Union resumed Wednesday and Belgrade was offered the prospect of closer ties with Brussels but urged to turn its back on its "nationalist past."

WTO chief lowers trade deal ambitions
IHT Jun 14, 2007
The top official of the World Trade Organization said Wednesday that a new global trade pact would be worthwhile, even if it failed to lower tariffs on manufactured goods in countries like Brazil, China and India.

One-time ivory sale approved
IHT Jun 14, 2007
After an 18-year ban, four African nations will be allowed to sell their ivory to Japan in a compromise reached with other African nations who tried to block the move.

World Bank Targets Forest Preservation - Climate Link
Tom Wright (WSJ/YaleGlobal) Jun 14, 2007
The bank embarks on a pilot program - paying countries not to destroy the rain forests.

A Good Deal Can Matter a Good Deal
Naomi Schaeffer Riley (WSJ) Jun 15, 2007
Some bankers bring capital where it's desperately needed.

Protectionism specter looms amid Doha trade talks
Bloomberg/IHT Jun 17, 2007
Deal or no deal, the latest round of global trade talks may be the last of its kind.

Two cheers in the battle against global AIDS
IHT Jun 18, 2007
Now that the Group of 8 industrialized nations have pledged to commit $60 billion to combat AIDS and other diseases around the world in coming years - a substantial sum by any reckoning - the U.S. Congress and other national legislatures ought to look hard for additional funds to close a looming gap between the funds committed and the needs of desperate patients.

IMF work agenda Adobe Acrobat Required
IMF Survey Jun 18, 2007
Plus: IMF exchange rate advice; Asia's trade pacts; Central Asia: economic cooperation; Cameroon after debt relief; spread of Austrian banks; conference on financial soundness indicators; Caruana on shifting roles in financial globalization.

Expanding world economy is risky business
Rodrigo de Rato (IMF/Globe and Mail) Jun 18, 2007
The world economy is set to grow again for a historic sixth year, spurred on in no small measure by financial markets and cross-border movements of capital in recent years. But recently risks have been on the rise, particularly in financial markets.

Bill Gates's Charitable Vistas Wall Street Journal Subscription Required
Robert Barro (WSJ) Jun 19, 2007
Bill Gates is the richest man in the world, helped create a revolutionary computer software company, and earlier this month collected an honorary degree from Harvard University. But he may not understand the vital role wealth creation plays in society.

Capitalism with Special Chinese Characteristics
Gustav Ranis (YaleGlobal) Jun 19, 2007
The runaway train of China’s economy is a special case of what economists label “Dutch Disease”.

WIPO Members Agree on Development Agenda
BRIDGES Weekly Trade News Digest - Vol. 11, Number 22 Jun 20, 2007
Members of the World Intellectual Property Organization (WIPO) last week reached an agreement on recommendations for reforms aimed at ensuring that development concerns are placed at the heart of the work of the UN agency.

G-4 Meeting Underway in Potsdam; Other Members Await Convergence, Chairs' Texts
BRIDGES Weekly Trade News Digest - Vol. 11, Number 22 Jun 20, 2007
Trade ministers from the EU, Brazil, India, and the US have kicked off a new attempt to resolve their differences in the deadlocked Doha Round negotiations in order to bolster chances of salvaging a multilateral agreement by the end of the year.

Brazil Loses Retreaded Tyres Dispute, But Happy with Panel's Mixed Ruling
BRIDGES Weekly Trade News Digest - Vol. 11, Number 22 Jun 20, 2007
Brazil has lost a WTO challenge against its import restrictions on retreaded tyres. The EU had contended that the import limitations were motivated by a desire to protect the local tyre industry rather than to pursue genuine public health objectives. The dispute settlement panel's report, released on 12 June, confirmed a confidential interim ruling.

Global trade talks collapse over agricultural subsidies Recommended!
IHT Jun 21, 2007
The failure of the Doha round of trade talks appears to have defeated the strategy of bringing together the United States, Europe, Brazil and India to resolve key differences before turning to the entire membership of the World Trade Organization.

Wrong Target
WP Jun 22, 2007
If it takes off, a congressional assault on China for its overvalued currency will surely boomerang.

China Will Hold Yuan Rate Stable Wall Street Journal Subscription Required
WSJ Jun 22, 2007
The central bank's vice governor, Wu Xiaoling, Thursday reiterated Beijing's stance of keeping the yuan exchange rate "basically stable" and said China will work on structural changes to resolve its large trade surplus.

Expert View: Outsourcing is out - it's a political cold potato
Chris Walker (Independent) Jun 24, 2007
The issue of poor service does seem a real deal-breaker.

World Bank's new chief will also focus on corruption
IHT Jun 25, 2007
But Robert Zoellick is studying how to avoid the pitfalls that led to the ousting of the former president, Paul Wolfowitz, amid charges of favoritism.

An Ivy League academic shows he has Wall Street credibility
IHT Jun 25, 2007
If anybody has had to learn on the job, it has been Fed watchers and investors rather than Ben Bernanke, the Fed chairman.

The Next Globalization Backlash
Sebastian Mallaby (WP) Jun 25, 2007
Wait Till the Kremlin Starts Buying Our Stocks.

The Misleading Scapegoat for Misalignments
Serhan Cevik (MSDW) Jun 26, 2007
The IMF is strengthening its surveillance systems against global imbalances.

Putting the Brakes on US Fast Track
David Dapice (YaleGlobal) Jun 26, 2007
Piling on environmental and labor conditions could complicate trade agreements.

More than half of humanity will live in cities by next year, UN report says
IHT Jun 27, 2007
The UN Population Fund says cities face the threat of overwhelming poverty unless policies for managing growth are put in place.

10 years after Asia's financial crisis, worries remain
IHT Jun 27, 2007
As the founder of a petrochemicals business empire that aggressively expanded in refining, plastics, steel and cement, Prachai Leophairatana once ranked among Asia's wealthiest men.

A New Genre on Wall St.: Bailout Blog
NYT Jun 28, 2007
The blog of a Bear Stearns executive offers insights into the investment bank's response to the near collapse of two hedge funds.

China Lends A Hand
WP Jun 28, 2007
Three seemingly unrelated events may not constitute a trend. But they certainly deserve attention when they shed light on the relationship between the United States and China, which is fast becoming the most important bilateral connection in the world.

Globalization's Stir-Fry
Harold Meyerson (WP) Jun 28, 2007
Globalization scrambles everything -- not least long-held beliefs about how our economy should work. Let's look for a moment at the argument made by people in our pharmaceutical industry and their chums at the Food and Drug Administration: that imported drugs from Canada imperil Americans' health. Then let's review the venerable conservative argument that the government should keep its mitts off, and surely never buy into, American business.

G-4 Talks in Potsdam Break Down, Doha Round's Fate in the Balance Once Again
BRIDGES Weekly Trade News Digest - Vol. 11, Number 23 Jun 27, 2007
Prospects for concluding a Doha Round trade deal in the foreseeable future took yet another blow last week when talks among the EU, the US, Brazil, and India broke down amidst persistent divisions on cutting industrial tariffs and farm subsidies.

WIPO Broadcast Treaty Talks Collapse
BRIDGES Weekly Trade News Digest - Vol. 11, Number 23 Jun 27, 2007
Ten years of discussions on an international treaty to update broadcasters' rights in the internet age came to a standstill last week, after members of the World Intellectual Property Organisation (WIPO) failed to agree on what the agreement should protect.

What Zoellick Should Do
Desmond Lachman (AEI) Jun 27, 2007
Robert Zoellick can succeed at the World Bank if he first listens to his new colleagues. But whether the Bank will undergo the changes it so badly needs is uncertain.

Is Africa being bullied into growing GM crops?
CheckBiotech Jun 28, 2007
Africa must not let multinational corporations and international donors dictate its biotechnology agenda, says David Fig.

Gold from the storm
Economist Jun 28, 2007
Ten years after Asia's financial crisis, the region is booming again. Has it fully recovered or are economic mistakes being repeated?

The Double Edge of Globalization
Nayan Chanda (YaleGlobal) Jun 28, 2007
Intensified international trading affects the environment, but also raises global awareness.

Expert View: Outsourcing is Out - It's a Political Cold Potato
Chris Walker (Independent) Jun 28, 2007
Outsourcing may lose its momentum as consumers demand better service.

Congressional Leaders Skeptical of South Korea Trade Deal
NYT Jun 30, 2007
The Korean Free Trade Agreement calls for eliminating tariffs on 95 percent of consumer and industrial products traded between the United States and South Korea.

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