November 3, 2011 |
There was something fitting about Greek Prime Minister George Papandreou's reckless call for a referendum on the latest rescue package for his country. World leaders gathering in Cannes for a Group of 20 summit face stark realities. The global economy is faltering, and no country has assumed leadership in organizing recovery. There is a loss of control, a vacuum of power. Papandreou's disruptive decision — now apparently withdrawn — symbolizes this larger erosion of collective purpose.
June 15, 2008 |
OSAKA, Japan , June 14 -- Finance ministers from the Group of Eight industrialized nations urged oil producers Saturday to boost output to help stabilize record-high oil and food prices, calling the situation a serious threat to global economic growth. The world economy faces "headwinds" because of the recent rise in prices, the G-8 ministers said in a joint statement at the conclusion of two days of talks here. "Elevated commodity prices, especially of oil and food, pose a serious challenge...
May 14, 2013 |
UNITED NATIONS — Brazilian Ambassador Roberto Azevedo won approval Tuesday as the next director-general of the U.N. World Trade Organization and will become the first Latin American to hold the top trade post when he takes over on Sept. 1. U.N. Secretary-General Ban Ki-moon welcomed Azevedo's endorsement by the WTO General Council, calling his selection "important and timely at this critical juncture in the world economy. " Azevedo won consensus support from the...
April 4, 2013 |
Japan plans to flood its economy with freshly printed yen in coming months in an effort to shock one of the world's major industrial powers out of a 20-year-old stupor. The impact of an unexpectedly ambitious move by the Bank of Japan on Thursday could course quickly through the world economy, pulling down the value of Japan's currency and with it the prices of the cars, electronics and other goods the country sells worldwide. That could mean a larger U.S. trade deficit with...
December 3, 2012 |
SAO PAULO — When the Brazilian economy began to stall last year, officials in Latin America's largest country started pulling pages from the playbook of another major developing nation: China. They hiked tariffs on dozens of industrial products, limited imports of auto parts, and capped how many automobiles could come into the country from Mexico — an indirect slap at the U.S. companies that assemble many vehicles there. A large state-funded bank grew larger, steering cheap money to projects that rely on locally...
May 28, 2008 |
What's the world's greatest moral challenge, as judged by its capacity to inflict human tragedy? It is not, I think, global warming, whose effects -- if they become as grim as predicted -- will occur over many years and provide societies time to adapt. A case can be made for preventing nuclear proliferation, which threatens untold deaths and a collapse of the world economy. But the most urgent present moral challenge, I submit, is the most obvious: global poverty. There are roughly 6 billion people on the planet; in 2004, perhaps 2.5...