Global Business & Economics Program

  • Big 3 Bailout: View From Europe

    News that Senate Republicans killed the bailout of the Big 3 U.S. auto companies has set stocks tumbling around the world. In the major European papers available in English, we're seeing headlines like "World markets slump as US car industry bail-out fails" (Guardian), "US car industry set to collapse as bailout fails" (Times of London)

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  • China on a Diet as Consumption Drops?

    Figures published Wednesday on China's economy show the country doing worse than the World Bank previously anticipated, boding poorly for China's chances of avoiding the global downturn as well as for the West's hopes of possible bailout assistance from Asia

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  • What to Expect from the G20 Summit

    Tomorrow, leaders of the top industrialized countries and the key emerging economies that make up the G20 will meet in Washington for a Global Economic Summit. This meeting is a critical first step towards international coordination in addressing the current financial crisis. The agenda will include topics ranging from the rewriting of specific financial regulations to the restructuring of global institutions such as the G8 and the IMF. Although expectations are low for any major agreement at this meeting, it must at least set the agenda for further high-level economic conferences expected once the new U.S. administration is in place.

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  • Russia and $50 Oil

    Russia Oil Tanks

    Oil prices have plummeted in recent weeks, hitting a 20-month low of $59 per barrel, a 60 percent drop-off from its summer high of $147.  One might reasonably think that this would be crippling to a country like Russia, which relies so heavily on energy exports to stake its claim to major power status. 

    The Troika Dialog team, though, argues that it's much more complicated than that.

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  • Asian Integration into the Global Financial Leadership

    World Economic Forum

    As almost everyone now agrees, recovery from what promises to be a protracted global recession will require a multilateral effort.   In an increasingly interconnected world, the politics of mutualism, as I have written elsewhere, will force developed as well as emerging countries to rely on each other.

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  • Financial Crisis: What Doesn't Kill Us Makes Us Stronger?

    The New Dollar Bill

    Martin Wolf, the chief economics commentator at the Financial Times, told an Atlantic Council audience earlier today that the global financial crisis has  "re-emphasized the centrality of the U.S. dollar as a currency" and demonstrated once again that "when things go really badly lots of people want go to the U.S. even if U.S. is why, even in part, things are going so badly."

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  • Reports of America's Decline Greatly Exaggerated

    Bret Stephens notes that there has been a steady stream of American decline commentary, especially from our friends in Europe, in recent weeks and that  much of it brims with "ill-disguised glee." 

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  • Financial Crisis Humor

    Last week Iceland was put up for sale on eBay allowing users "a unique opportunity to buy a Northern European country." The auction began at a modest 99p but soon rose to £10,000,000 ($18,000,000). Bids, however, plateaued around that mark after it was revealed that Björk was not included in the price.

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  • Economic Crisis in 3 Minutes

    The Spectator's Matthew Parris explains "the world economic crisis in three minutes" by means of a comedy sketch.  Realizing that many of our readers are pressed for time, I've provided some excerpts

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  • Banking Crisis Not a Black Swan

    Nassim Nicholas Taleb, author of last year's bestseller The Black Swan: The Impact of the Highly Improbable, feels no small sense of vindication with the current financial crash.

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