U.S. trade leadership has suffered from a contentious policy debate that has left President Clinton without new fast-track trade negotiating authority since 1994. Disagreement over the impact of commerce with developing countries on jobs and the environment is at the heart of the trade quarrel, but that quarrel misreads what is happening in developing economies and what is achievable in negotiations with them.
Topic:
Environment, International Organization, and International Trade and Finance
The Overseas Development Council was prescient in calling for an international dialogue on globalization last year. It is a particularly important time for a dialogue on the relationship between globalization and development, given new concerns raised by the global financial crisis.
Topic:
Development, Economics, Emerging Markets, Globalization, and International Trade and Finance
Environmentalists and trade advocates have clashed frequently in recent years. Environmentalists argue that international trade rules restrict the legitimate use of trade measures to enforce environmental standards internationally and undermine environmental standards at home. Trade officials argue that trade measures are not the appropriate tools to dal with environmental problems, no is the World Trade Organization (WTO) the appropriate institution. They contend that environmentalists need to put their own house in order rather than resort to trade measures to achieve their objectives.
Topic:
Environment, International Organization, and International Trade and Finance
Croatia is preparing for two elections—parliamentary polls on January 3 and, following the recent death of President Franjo Tudjman, a presidential contest on January 24. Thus, the population has an opportunity to choose real change, and to set Croatia firmly on the path of economic transformation and European integration, after a period of stilted political and economic development, marked by cronyism, under Tudjman. However, this scenario is by no means certain.
It was exactly 18 years ago this week that former Israeli prime minister Menachem Begin rushed from his hospital room, where he was being treated for a broken hip, descended on a surprised Knesset, and, within a few hours, forced through a bill imposing Israeli sovereignty on the Golan Heights. This same sense of urgency now animates Prime Minister Ehud Barak in his attempts to negotiate a peace agreement with Syria that will, perforce, require the abrogation of Begin's initiative.
European defence cooperation will be a key issue at this week's European Council (EC) summit. It looks likely that ministers will agree that Europe should move towards an autonomous military capability independent of NATO. However, significant problems remain before these plans can be realised in operational terms.
The quarter-point increase in the fed funds rate announced at the November 16 Federal Open Market Committee (FOMC) meeting was accompanied by the adoption of a neutral directive for the inter-meeting period, in place of the bias towards tightening in force since early October. The directive indicates that the Fed intends the rise to be the last of this year. However, the OECD, in its recent Economic Outlook, predicted that another one percentage point increase in the fed funds rate will be needed to restore demand and supply to equilibrium. While the economy will probably not slow sufficiently of its own accord, the incentives to defer action into 2000 mean that rates are likely to remain as they are during 1999, though probably associated with an announced bias towards tightening.
The Ulster Unionist Party (UUP) Council will meet on November 27 to deliberate the political understanding reached between First Minister-elect David Trimble and the Sinn Fein leadership. Trimble will probably achieve the level of support necessary for devolution to occur in Northern Ireland, by a narrow margin. However, significant political difficulties, remain to be addressed in the months following devolution. The medium-term prospects for the peace process will primarily depend on the IRA's approach to implementing its commitment to decommission.
Despite Hanoi's repeated assertions of its commitment to reform, the gap between the government's stated policies and what happens on the ground remains as wide as ever. The root of this problem is the diffusion of power throughout the multiple layers of government and bureaucracy. There are no quick-fix solutions which will centralise political power. A combination of continued global economic integration and exposure to outside ideas, allied with the government's own initiatives in areas such as administrative reform, provide the most likely route to strengthening the central administration's power.
Compromise and accommodation are the watchwords of the new Indonesian government. During the past two weeks, the top legislative and executive positions have been distributed to the leaders of four of the country's five major political parties. The new cabinet, announced on October 26, continues this trend. Active and retired members of the military hold six seats, giving them a larger representation than any single political party. Not only President Abdurrahman Wahid, but all of Indonesia's political leaders, are hoping that by sharing power, rather than struggling for supremacy, conflict can be minimised and some measure of reform achieved. However, it is likely that governmental splits will emerge in the medium term.