A good example is Mexico in the mid 90's. It tried to do a moderate devaluation, but the market didn't accept it. It lost control of the currency, there was a dramatic devaluation, and a subsequent recession -- even a depression in Mexico. |
As the U.S. trade deficit becomes more and more of a concern, the currency issue and intellectual property are both tougher issues to crack than textiles, |
As the U.S. trade deficit becomes more and more of a concern, the currency issue and intellectual property are both tougher issues to crack than textiles. |
Deng engineered the most dramatic economic transformation of the 20th century, maybe ever. He changed China from a moribund, communist economy to an expansive, bull, rapidly growing mixed economy, with Marxism and market elements both present there. And it's a dramatic change. |
dominant issue in Asia. |
For so many years, international finance has been the domain of a very small elite in a few countries. The message the G-8 leaders got from Seattle is that they need to make their policy discussions more relevant to the general public. |
It's an offer that will never be taken up. Other countries are not likely to drop their trade barriers any time soon. |
Most legislation is offered just for political effect. But this one is likely to become the basis of law. Something will become law on China this year. |
Say you buy a factory in Brazil. When Brazil devalues its currency, that factory's value in dollars drops dramatically so your investment is worth a lot less. People are less likely to invest in a country that's prone to devaluations, |
Say you buy a factory in Brazil. When Brazil devalues its currency, that factory's value in dollars drops dramatically so your investment is worth a lot less. People are less likely to invest in a country that's prone to devaluations. |
When APEC was created, the United States was certainly the leading country in the mix, |
When APEC was created, the United States was certainly the leading country in the mix. |