Global Business & Economics Program

  • When Bubbles Burst: Daewoo All Over Again

    I have been teaching a class called “The Global Marketplace” this semester, but often I begin class by stating, “Welcome back to `The Global Meltdown’ class.”  Instead of studying about rising trade and investment and economic integration, we discuss deglobalization and the prospects for a global depression. 

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  • G20 Leaders Leave Hard Problems Unsolved

    As widely anticipated, not much was achieved at the G20 Summit. 

    The announcement of $850 billion dollars for the international financial institutions and $250 billion in trade finance is a welcome sign that world leaders are paying attention to the needs of poor countries.  But the lack of any real consensus on a true global fiscal stimulus demonstrates the ongoing rift between the US and Europe over the real solutions to stagnating growth.  Trade finance is only useful if there is a serious demand for exports, and the estimated 10 percent decline in global trade makes plain that lagging demand is as much to blame as lack of finance for global trade slowing to a crawl. 

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  • G20 Report: Stimulus and Regulation Compromise Needed

    What started last year as a growing international credit crunch and, by September, a global banking crisis has now spread into the real economy. International trade, investment and economic growth are all contracting. A drastic curtailment of credit, collapsing global demand and a loss of trade finance is having a devastating economic effect on both the developed and developing worlds, especially those economies that are heavily dependent on exports.

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  • Neelie Kroes:Transcript

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  • Geithner Dollar Remarks Create Panic

    The call earlier this week by the head of China's central bank for a new world reserve currency to replace the dollar got a surprising second yesterday from U.S. treasury secretary Timothy Geithner, who told the Council on Foreign Relations that the administration is "quite open" to the idea.  Shockingly, this did not go over well with those holding large dollar reserves.

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  • China: We Need New World Currency

    World Currencies

    Zhou Xiochuan, head of China's central bank, published a paper yesterday urging the creation of an international reserve currency independent of the dollar and under the control of the International Monetary Fund.

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  • Europeanization of America? Or Global Convergence?

    Europeanization of America?  Or Global Convergence?

    All this clamoring about the Europeanization of America has not made much sense to me. After all, what can it mean to say, “In short, the more liberal your views, the more Belgian your brain”?

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  • Switzerland to Cooperate on Tax Evasion

    Switzerland, long a destination for international criminals wishing to launder money and evade taxes, is finally relenting to pressure from the United States and other Western states to conform to international law. 

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  • Europe Agrees to Tighten Regulations, Double IMF Funding

    The leaders of Europe's key economies agreed this morning to stronger regulation for the financial markets and to double the investment in the International Monetary Fund ahead of the G20 summit. 

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  • Swiss Banks Going Back to Basics

    After devastating losses, Switzerland's top banks are getting out of speculative investing and back into client service, Hui Min Neo reports for AFP.

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