Global Business & Economics Program

  • Protectionism Wave Crashing Over Global Economy

    One disturbing but predictable response to the global financial crisis has been the rise of legislation aimed at protecting domestic industries and jobs by various anti-trade measures.


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  • Europe's Welfare System Model for USA and China?

    In an International Herald Tribune column asking "Is Europe's welfare system a model for the 21st century?" Katrin Bennhold contends that, as the world's economic elite gather in Davos for the annual World Economic Forum, there is decidedly less Europe-bashing than in years past. After the global financial shake-out of the past  year, she wonders, "Could Europe's much-reviled social welfare system actually end up being the model for the 21st century world?"

    In the United States, the global stock market rout has wiped out trillions of dollars in retirement savings and rising unemployment is leaving more people without health insurance. In response, officials of the new administration of President Barack Obama have been busy studying the Swedish bank bailout of
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  • Euro's Soft Underbelly Exposed by Financial Crisis

    STOCK - Financial Crisis

    A report in yesterday's NYT under the title "Once a Boon, Euro Now Burdens Some Nations" points out that the global financial crisis is creating ripples in the eurozone.


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  • America and the World After Bush: Economics and Globalization

    On Barack Obama's second day in office, the Bush administration is fast fading into memory.   As accidental tax evader Timothy Geithner prepares to take over at Treasury in an administration where transparency and the rule of law will be touchstones, it's an excellent time to begin looking at the global economy.

    To do that, we'll once again turn to Thomas Barnett's forthcoming book Great Powers: America and the World After

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  • Stimulus Has its Limits (But We Don't Know What They Are)

    Fed chair Ben Bernanke's gave a speech yesterday at the London School of Economics which noted that, while "more capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets," other tools will need to be deployed.


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  • Taxing Credit Default Swaps

    STOCK - Financial Crisis

    It is common wisdom that the incoming administration cannot possibly increase government tax revenues in these horrific economic conditions.  However, this common wisdom is simply wrong. 

    There is a major new source of revenue available to the government – the shadow financial system. 


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  • Chinese Wisdom on the Financial Crisis

    Chinese Wisdom on the Financial Crisis

    James Fallows in this month’s Atlantic brings a Chinese view to the global financial crisis and planned U.S. economic stimulus plans. Based on an interview with the President of the China Investment Corporation, Gao Xiquing, China offers some words of wisdom to the incoming Obama administration as it attempts to restart the U.S. economy—be nice; remember your pragmatism; and live within our means. 


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  • 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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