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Sebastian Mallaby:  What
Wolfowitz faces -- The fight bet. a broad 'country perspective' and a narrower project perspective has raged within the bank for 25 years,  Washington Post (free registr. req'd),  30 May 05

Ruchir Sharma:  More than just
another bubble -- The latest buzz is that the MENA markets - a reference to Middle East & N Africa - are in the midst of the mother of all bubbles,  Newsweek,  30 May-6 Jun 05

Profiles --
Young global leaders:  Meet some of the under-40s selected to join forces to shape a better future,  Newsweek,  29 May 05

Boardroom:  Ian Davis --
Business and society:  The biggest contract -- The long-running debate about business's role in society is currently caught bet. two contrasting, & tired, ideological positions,  The Economist,  26 May 05

Latinos debate free trade's cost:  The Central America free trade agreement is alternately seen as an engine of progress, poverty,  by M Garcia, Washington Post (free registr. req'd),  26 May 05

Emerging market
spreads to widen in coming months:  Despite rate tightening by Fed, there are a number of reasons to feel confident about the long-term future of emerging market debt,  Oxford Analytica via Forbes,  25 May 05

Editorial: 
Growth and the poor -- Latin American poverty:  Growth will not reduce poverty unless LatAm govts redirect it to the poor,  New York Times via IHTribune,  25 May 05

Analysts grapple with
long-term growth:  Long-range GDP growth forecasts, alongside other inputs into decision-making processes, are crucial tools for pol. & corp. leaders,  Oxford Analytica via Forbes, 24 May 05 (Link to: DB's Global growth centers 2020  [pdf])

Robert Zoellick:  The
Central America free trade agreement is a win-win -- At root, the debate on CAFTA is about America's role in the world,  Washington Post (free registr. req'd),  24 May 05

Jeffrey Sachs:  Corporate US wakes up to
climate change--Leaders of major cos. have decided man-made climate change is real & must be controlled, Proj Synd via Taipei Times, 23 May 05(in this bilingual site, a 'language pack installation' sign may pop up-pls. select "cancel")

Horizons:  Glenn Hubbard --
Tax reform's key? Stop hammering investors:  'My brand of reform would tax all income only once - wages at household level & biz income at biz level,' Business Week (via AEI site), 23-30 May 05

Hong Kong -- It's back!:  Real estate is booming, shoppers are spending, and Disneyland is on the way. But is this just another bubble-or the real deal?, by F Balfour & assoc,  Business Week,  23-30 May 05

Horizons:   Jeffrey Garten--
Why a 'oui' is not enough:  Whatever happens on this Sun.'s French vote on EU constitution,  the EU needs a massive jolt in order to make dramatic policy changes,  Newsweek,  23-30 May 05

Stars of Europe--Leaders at forefront of change: The men & women chosen-from nations incl. Ukraine, Serbia & Montenegro, Russia, Poland, Estonia & others-are dynamic, successful, even heroic,  Business Week,  23-30 May 05

Paul Krugman:  The
Chinese connection -- 'The controversy over China's currency policy is an issue that confuses economists, too. But let me try to explain what's going on,'  NYTimes via IHTribune,  21 May 05

Bradford DeLong:  Economists'
new world order -- Econ. are now realizing the most interesting questions they face were always beyond the reach of Marshall's toolkit,  Project Syndicate via Economic Times (India), 21 May 05

G Treverton & R Klitgaard: 
Buy security through aid -- Corruption was a taboo subject in econ. devel. a decade ago. Today, security issue is where corruption was then-devel.'s awkward stepchild, United Press Intl. (via Rand site),  21 May 05

Nariman Behravesh:  What are the implications of
slowing US locomotive? -- There is a high risk that as the US economy decelerates, other economies will follow suit,  Global Insight (formerly DRI-WEFA),  20 May 05

Coffee/tea break: 
India's university alumni share a global success--Bethesda reunion shows worldwide reach of India's educational jewel,  by S Kalita,  Washington Post (free registr. req'd),  20 May 05

European Bank for Reconst. and Devel.--
Going east:  Europe's ex-communist economies are changing. So must the EBRD, Economist, 19 May 05(Link to: Econ reports--EBRD [sum.];  IIFIMF [intro]; & WB briefing and report)

Kenneth Rogoff:  A healthy global economy
begins at home--What the Treas. report doesn't say is that 'global imbalances' is euphemism for 'US borrowing binge'. But China's exchange rate policy also matters,  FT (via Harvard site),  19 May 05  [pdf]

World Bank fails to reduce poverty in poorest nations:  An internal audit has found it is failing in its mission to reduce poverty by paying too little attention to econ. growth, by J Ziegler, Bloomberg, 19 May 05 (Link to: WB's internal audit; and MIT Press--The Elusive Quest for Growth, w/ t-o-cont.)

Horizons: 
Damaged goods--The American economic model, battered though it was by Enron, WorldCom and other scandals, is doing all right. It could be doing even better,  The Economist,  19 May 05

African growth at eight-year high:  African economies grew more than 5% in '04, spurred by high commodity prices, a report said, BBC News, 18 May 05 (Link to:  African economic reports--AfDB/OECDIMF; and WB)

US warns China on currency policy: Treas. declines to declare manipulation, but patience is thin,  by D Hilzenrath,  Washington Post (free registr. req'd),  18 May 05  (Link to: Treas Snow's statement, w/ link to report to Congress)

Bush's choice -- Anger China or Congress over currency:  After 2 years of politely prodding China to relax its dollar peg, Bush admin faces a choice,  by E Andrews,  NYTimes News Service ,  17 May 05

Nelson Mandela: 
Africa's time has come -- From intro: 'There's no person on Earth who has more moral authority, who can speak w/ greater passion, & be more compelling on these topics than he,' Brookings Inst Briefing, 16 May 05

Monetary cooperation
in East Asia moves forward:  The limited nature of the initiative was emphasized so as not to raise concerns it was regional monetary 'fund', potentially rivaling IMF,  Oxford Analytica via Forbes,  16 May 05

A fireman's new blaze --
Q&A with Kemal Dervis:  Recently named head of UN Develop. Prog., he is credited w/ saving Turkish economy from disaster after currency crash in '01,  by O Matthews,  Newsweek,  16-23 May 05

Joseph Stiglitz:  Why
Wolfensohn mattered -- At the end of month, his 10-yr tenure as World Bank president comes to an end,  Project Syndicate via Yemen Times,  16 May 05

Horizons:  Robert Rubin --
Deficit disorder:  'We can continue to close our eyes and hope for the best. But the odds are low that our fiscal imbalances will solve themselves,'  New York Times via IHTribune,  14 May 05

Frenchman set to assume
WTO leadership,  by P Blustein,  Washington Post (free registr. req'd),  14 May 05

Economists scale back
forecasts for US growth: The slowdown will continue this qtr before a late-year rebound, survey finds,  by T Annett, Wall Street J, 13 May 05  (incl link to:  Monthly forecasting survey of 56 economists)

How a news story,
translated badly, caused trading panic:  Ms. Guan's take on yuan, put into garbled English, roiled currency markets,  by A Browne & assoc,  Wall Street Journal,  12 May 05

Daniel Yergin: 
Over a barrel -- Energy-starved China is doing what you would expect: becoming a global oil power,  Fortune (via Camb Engy Res Assoc site),  posted 11 May 05

Iraqi president seeks South American aid:  At the 1st S Amer-Arab summit in Brazil,  AP via Jersusalem Post, 11 May 05  (Link to:  Reuters via Turkish Weekly--LatAms, Arabs criticize rich countries;  & summit Web site)

Stephen Roach: 
Original policy sin -- One bubble has since begotten another- from equities to bonds to fixed-income spread products (ie, emerging market and high-yield debt) to property,  The Edge (Malaysia),  10 May 05

Horizons:  Charles Wyplosz--
Why France will sink Europe's constitution:  It has long cherished its 'exception' from market econ. and rejects both central planning & free markets,  Proj Synd via Daily Times (Pakistan),  10 May 05

E Prasad & R Rajan:  China's
financial-sector challenge -- There is no clear template for fin-sector reform. But it would help to do away w/ constraint of maintaining fixed exchange rate & distortions this requires, FT (via IMF site), 10 May 05

Andy Mukherjee: 
Free trade begins with school math -- Farmers in poor nations should rejoice as trade ministers in rich nations get ready to apply a lesson they learned as 9-yr-olds: working out percentages, Bloomberg News, 10 May 05

Robert Shiller: 
Live long and prosper -- The fundamental difficulty in planning for enhanced longevity is that we do not know whether it will really happen,  Project Syndicate via The Edge (Malaysia),  10 May 05

S Hanke & M Connolly: 
China syndrome--To deal with China, Washington has dusted off the same defective game plan used to bash Japan in the '80s,  Wall Street Journal (via Cato Inst site),  9 May 05

Stephen Roach: 
Blaming China -- Instead of addressing its own profligacy, the US risks a ruinous trade war,  Time,  9 May 05

Ernesto Zedillo: 
Argentina or the 'Principles'?--The 'Principles' present a set of voluntary market-based guidelines that promote greater cooperation bet.  sovereign debtors & their creditors,  Forbes,  9-23 May 05 (Link to:  Inst Intl Fin--Principles for fair debt restruct.)

Why Taiwan matters:  Want to find hidden center of global econ.? Take a drive along its Sun Yat-sen Freeway. It is as bland as any US interstate, but it's the highway of globalization, by B Einhorn & assoc, BusinessWeek, 9-16 May 05

Coffee/tea break: 
Arabian knight -- T E Lawrence-soldier, swashbuckler, scholar-is one of 20th cent.'s most compelling adventurers. 70 years after his death, he still inspires admirers to retrace his steps, by N Easen, Time, 8May 05

Newsroom: 
Al-Jazeera puts focus on reform--Mideast coverage by network reviled in Washington is boon for Bush,  by R Wright,  Washington Post (free registr. req'd),  8 May 05

Asian bank meet ends w/ call for stronger
regional econ. ties, Agence France Presse via Gulf Times (Qatar), 7 May 05  (Link to:  AP via Forbes -- Asian finance ministers OK swap boost;  ADB's Asian Devel. Outlook;  & Inst Intl Fin's Asian Reg. Overview)

Mouse & wo/man:  Profiting from obscurity -- What
the 'long tail' means for the economics of e-commerce,  The Economist,  5 May 05

World trade talks:  A breakthrough in Paris revives the Doha round,  The Economist,  5 May 05  (Link to:  EU's Mandelson--Towards a new map for world trade [FT];  and US's Portman--Kick-starting global trade talks [IHT])

Hal Varian:  What should a reconfigured
tax system look like? -- Since a govt needs to raise a given amount of revenue, how can it raise this in a way that least distorts econ. decisions?,  NYT (via UC Berkeley site - graphic), 5 May 05

Measuring globalization -- Ranking pol., econ., personal & techno. globaliz. in 62 nations reveals global integration survived turbulence of Iraq war, sharp econ. downturn & failure of trade talks,  A T Kearney/Foreign Policy,  May/ Jun '05

Rich countries pledge
development aid boost at OECD meeting:  The ministers said five donor countries currently meet UN aid target,  Agence France Presse via Channel NewsAsia (Singapore),  4 May 05

New airline democratizes
Brazil's skies:  Discounter airline to expand across South America,  by A Downie,  Christian Science Monitor,  3 May 05

Glenn Hubbard: 
Magic capital ride -- The world econ.'s imbalances are not simply fault of US policy, but serious discussion of way forward must begin in Washington. And it must begin soon, Wall Street J(via AEI site), 2 May 05

Pakistan--Better late than never in outsourcing:  It is trying to copy India's success in luring IT work, but it's slow going,  by N Mangi,  Business Week, 2-9 May 05

Robert Barro:  Iraq -- One nation
under Allah:  Why it's unrealistic to expect a separation of mosque & state,  Business Week (via Harvard site), 2-9 May 05  [pdf]

A Jack Welch of communists:  The CEO in China of one of world's top five producers of appliances aims to create a global brand, even if he has to break a few things to do it,  by S Schafer,  Newsweek,  2-9 May 05

Argentina's reversal of fortune:  A surge of service jobs has begun to restore the nation's middle class,  by C Barraclough,  BusinessWeek,  2-9 May 05

Book value:  Joseph Stiglitz -- Global playing field: More level, but it still has bumps--
Review of Thomas Friedman's The World Is Flat: A brief history of the 21st century,  NYTimes (via Columbia site),  30 Apr 05  (Link to:  Book forum on Friedman--posted by IMF Apr 28th)

Q&A with Ronald McKinnon:  '
Don't let go'--Exchange rate changes are not the answer to US trade deficits & Asian trade surpluses,  China Economic Review (via Stanford site),  Apr '05 [pdf]  (Link to:  MIT Press -- Exchange Rates under the East Asian Dollar Standard [2005], w/ t-o-cont.)

Jeffrey Sachs:  Bush's
gambling debts mounting--Because US economy is so large & dollar so central to intl fin., chronic budget deficits mean huge global repercussions,  Proj Synd via Taipei Times,  29 Apr 05 (in this bilingual site, a 'language pack installation' sign may pop up-pls. select "cancel")

Alan Krueger:  Economists try to explain
why bubbles happen -- Jonathan Swift is credited w/ affixing label 'bubble' to stock price that far exceeded its econ. value,  NYT (via Princeton site),  28 Apr 05  (Link to:  SSRN--South Sea & technology bubbles [free downl. avail.])

Oil in troubled waters--Intro to a survey on oil:  Prices are sky-high, with profits to match. But looking further ahead, the industry faces wrenching change,  by V Vaitheeswaran,  The Economist,  28 Apr 05

Jeffrey Sachs:  The
end of the world as we know it -- The fight against extreme poverty can be won, but only if Bush recognises that military might alone won't secure the world,  The Guardian,  5 Apr 05

Can the US change its spots?:  The world's most radical economic reformer has one crusade-to rid the world of poverty. And he has Public Enemy No.1 in his sights,  by G Wood,  The Observer,  27 Mar 05

Allan Meltzer:  Regime change at the
World Bank--The end of Wolfensohn's term provides an opportunity for new approaches and much needed reform,  Wall Street J (via AEI site),  23 Mar 05 (incl link to:  New mandates for IMF & WB)

Book value:  William Easterly--
A modest proposal:  This guided tour to the Earth's poorest regions is enthralling & maddening-Review of Jeffrey Sachs's The End of Poverty,  Washington Post (free registr. req'd),  13 Mar 05;  and

Jeffrey Sachs: 
A comment on 'A modest proposal' (letter to the editor);  w/ a reply from Easterly,  Washington Post (via NYU site),  27 Mar 05  [pdf]

M Goldstein & N Lardy: 
A faulty strategy weakens China's prospects -- Proponents of a 'revived Bretton Woods system' argue we need not worry about undervalued currencies of some Asian economies,  FT (via IIE site),    4 Mar 05

Charles Wolf:  The multilateral path to disarming
North Korea -- Securing a collective benefit-in this case, a non-nuclear North Korea-entails a collective burden,  Wall Street Journal (via Rand site),  16 Feb 05

A Dixit and G Grossman:  Samuelson says nothing about
trade policy --Protectionism has long enjoyed populist appeal, but has not achieved intellectual respectability,  Princeton Univ,  ca. '04/ '05 (Link to: Samuelson's article (via MIT site)  [pdf]


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