The International Economy

Daily provides news, commentary, and research on international economics. The source covers global financial policy, trends, and international law.

Articles from Vol. 20, No. 3, Summer

Are German Workers Killing Europe? in Other Words, Have Their Low Relative Wages Created a "Beggar-Thy-Neighbor Real Devaluation"* Policy Highly Destabilizing to the Eurozone?
Background: To what extent are productivity gains at the expense of wage growth and consumption holding back the German economy and thus the entire Eurozone economy? In Germany, real incomes and unit labor costs have fallen in recent years and are...
Backstage at the BIS: The Latest Chatter
Travel the hallways of the Bank for International Settlements (BIS), the secretive global central banker information exchange of sorts in Basel, Switzerland, and four names rise quickly to the surface: Christian Noyer, Mario Draghi, Mervyn King, and...
Commodities, China, and American Foreign Policy: How All Are Linked
Future historians will note that President Hu Jintao followed up his visit to Washington in April 2006 with trips to Saudi Arabia and Nigeria. He went to the Middle East and Africa in search of a commodity which he did not feel that he could obtain...
Fast Track Forever? This Has Been a Golden Age of New Trade Agreements. One Primary Reason: U.S. Fast Track Negotiating Authority
Judged by the number of new trade agreements concluded, the past four years has been the most productive period for U.S. trade negotiations in U.S. history. The global negotiations on a new World Trade Organization agreement have moved slowly--as was...
Paulson's First Challenge: Can the New U.S. Treasury Chief Confront China's Currency Manipulation?
In May 2006, the U.S. Treasury issued its long-awaited report to Congress on international economic and exchange rate policies and concluded once again--despite overwhelming evidence to the contrary--that China was not "manipulating" its currency (the...
Rising Anti-U.S. Populism: The Hugo Chavez Act Is Starting to Wear Thin, but Does the U.S. State Department Have an Effective Game Plan to Take Advantage of His Predicament?
July's disputed presidential election in Mexico, where the conservative PAN party won a plurality of less than 40 percent of the vote, it would be a mistake to believe that the leftist political resurgence seen throughout the region during the tenure...
Serbian Potential
BELGRADE, Serbia -- Among the first "tourist attractions" our guide pointed out to me on a city sightseeing outing were the still-devastated remains of the Serbian Army headquarters and Federal Police building. It's been seven years now since NATO...
Sorry Times at Club Med: Why the Next Emerging Market Crisis Won't Involve an Emerging Market
Once when asked a woman's age, Oscar Wilde replied that she was approaching thirty. He added, however, that she was approaching thirty from the wrong side. On considering whether emerging market economies are converging towards those of the developed...
The End of the Big Trade Deal: Why Doha Will Be the Last of the Grand Multilateral Trade Negotiations
The Doha Round of multilateral trade negotiations has long been on life support. Those who recall the years in which the Uruguay Round was comatose may regard a near-death experience as a necessary stage before eventual recovery. Perhaps the mid-summer...
The Global Implications of a Dollar Collapse: The Dean of London's Journalistic/financial Strategy Community Sets the Table
When asked to write about the global implications of a serious dollar collapse, I accepted with alacrity as a refreshing change from the usual question about if and when such an event will occur. Anyone can recite the bald fact of the United States...
Trying Times Ahead: An Exclusive TIE Interview: Richard Shelby, Chairman of the U.S. Senate Banking Committee and an Increasingly Important Policy Figure in Washington, Talks about Hedge Funds, Accounting Scandals, and the Chinese Currency
TIE: How do you feel about the U.S. banking system today? It looks strong, with a lot of capital, but how do you see it? Shelby: We have a good banking system in the United States. Of course, one reason that might make me feel very positively about...
Why Deficits Matter: And Why the Coming Soft Dollar Policy Is No Solution to America's Huge Imbalances
Chinese president Hu Jintao's recent visit to America provided ample grist for the media mills, but despite all the attention surrounding protocol gaffes the real story of the meetings was lack of progress along any policy front, including economic...