- 1997 Kyoto Protocol on Global Warming: Pros and Cons
"EU Affirms Commitment to Kyoto Emission Pact", Wall Street Journal, June 12, 2001, and "The Alternative to Kyoto," Wall Street Journal, June 12, 2001The 1997 Kyoto Protocol was the most comprehensive international agreement to date to address the problem of global warming. The essence of the protocol was to reduce, by the year 2012, global pollution by 8% from its 1990 level. However, this requirement is mandated only for industrialized countries, and developing nations were exempted from compliance on the assumption that this would unduly retard their economic growth. more >>
- Domestic and global mergers of business firms
"The Mysterious Merger Frenzy," Newsweek, October 16, 2000From 1994 to late 2000, the total value of business mergers in the U.S. exceeded $5 trillion. In 1999 alone, there was $1. more >>
- Economic policy under a totalitarian command economy: a case of North Korea's agriculture
(a paper on North Korea's economy by Sungwoo KimIn a socialistic command economy, economic policy is often dictated by the leader of the country, who is often a non-economist. The leader is assumed to be omnipotent in all aspects of society, and therefore, his policy must be followed regardless of its scientific merits or demerits. At the present, the only remaining command economies are North Korea and Cuba. more >>
- Economic relationship between U.S. and Asia
"How a global recovery may hurt America," U.S. News & World Report, August 2, 1999In 1997 several countries in Asia faced serious economic difficulties, known as the Asian crisis. With significantly reduced demands for domestic goods, many Asian countries had a huge excess capacity of production, and they were willing to reduce prices of their export goods. These cheap imports kept the general level of price and the rate of inflation low in America. more >>
- Efficient E-Business in the modern global economy
"The Next E-volution," Time, July 12, 1999The success of the free market economy depends upon the availability of reasonably accurate and timely business information. Although the modern economy is increasingly becoming global, there still exist many serious business obstacles due to vast geographical distances, time differences, language barriers, and most importantly, the lack of transparency of true business intention in order to gain better bargaining power between a buyer and a seller. These obstacles are known as "a friction in economics," and surmounting them is the key to business success. more >>
- European Union and the Euro
"Here Comes the Euro," Newsweek, January 11, 1999"The largest horizontal economic integration in history is the European Union (EU), currently comprising the eleven European countries of Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. England has not committed yet. The EU is truly a monumental accomplishment and has significant political and economic importance for the world. more >>
- Global Economic Inequality: Diet Pills for American Pets and Poverty in Some Parts of the World
"When Pets Pop Pills," Newsweek, October 11, 1999Poverty and malnutrition are a rather common phenomenon in some parts of the world. However, in America, even the animals are "living longer and getting fatter." To combat obesity in pets, as well as other ailments normally associated with advanced ages, Americans spend $3 billion a year on pills for their pets. more >>
- Global economy and the danger of global recession
"Is Argentina a time bomb?" Newsweek, April 23, 2001As the world economy becomes more closely related, the economic impact in one area can seriously affect economies of other distant places, as well as the world economy as a whole, through a chain effect. Argentina is a case in point. The country has experienced a severe recession since 1998. more >>
- Impact of the global economy on the recovery of the U.S. economy
(source: "Recovery at risk," Time, August 6, 2001In the year 2001, the U.S. economy was in a mild recession with a barely .7% rate of growth in the second quarter of the year. more >>
- International Smuggling of American Cigarettes: the Optimal Rate of Tariff
"Big Tobacco's Next Legal War," Newsweek, July 31, 2000American cigarettes are very popular around the world, and many foreign governments impose very high tariffs on American cigarettes in order to discourage the consumption of them and to raise government revenue. In fact, a tax on cigarettes, along with alcohol (excluding wine and beer), is called a "sin tax." The sin tax is imposed in order to discourage consumption of a good that the society deems undesirable. more >>
- Japan's current economic difficulties and government policies
(Source of information: The Economist, March 10-16, 2001Since the early 1990's Japan's economy has been suffering, and all plans have failed to help the troubled economy. Japan's economic problems include a consistently falling stock market, considerable public debt and unhealthy banks.
The Japanese government's latest plan includes three actions. more >>
- Pros and cons of direct foreign direct investment: a case of Intel in Costa Rica
"A Silicon Republic," Newsweek, August 28, 2000Many large corporations establish their manufacturing plants in developing countries. The main economic advantages of such investments are low-wage workers who are unlikely to engage in a labor strike, a significant tax concession from the host country, and less stringent environmental restrictions. The advantages for the host country are the immediate and significant employment of often seriously unemployed or underemployed workers, the incomes these workers receive, an immediate transfer of often the most advanced technology, and an introduction of the host country into world market for its own future products. more >>
- Protection from foreign imports: does it help the protected industry?
"Pals of Steel," Wall Street Journal, June 8, 2001Each nation has economic comparative advantages (the ability to produce at lower costs than other countries) in certain goods. Normally, industrialized countries enjoy comparative advantages in high technology goods, and developing countries have comparative advantages in labor intensive goods. The United States, for example, has definite comparative advantages in higher education, medicine, and aircraft manufacturing so that the country is the major exporter of these products. more >>
- Short-term and long-term effects of the population control policy of China
"China's Lifestyle Choice," Time, August , 2001An economic policy produces significantly different short-run and long-run effects, and therefore it is very important to fully assess both. One such example, in which the long-run effects are totally contradictory to its short-run effects, is the population policy of China.
The economic development of a country requires a constant stream of new investments enabled by domestic savings. more >>
- The innocuous banana may start a major world-wide trade war
(source of information : "Banana Wars" Time, February 8, 1999All bananas that Americans consume are grown in Latin American countries. Some of these bananas are grown by American companies such as Chiquita and Dole, while other bananas are grown in the former European colonies of Martinique and Cameroon. To consumers, these innocuous bananas all look the same; yet these bananas almost caused a dangerous trade war between the United States and the European Union. more >>
- The success and failure of the transition from socialism
"For Economists, No Time to Party," Newsweek, 1999 Special IssueThe 1990s witnessed the large-scale collapse of world socialism and its transition to a market economy. However, while some countries, such as Poland and Slovenia were successful in this transition, other countries, especially the world's largest socialist economy, Russia, failed. In fact, the Russian economy significantly deteriorated after its transition to the market economy. more >>
- U.S. and China trade: benefits and costs
"The great trade wall," U.S. News & World Report, November 29, 1999In November, 1999, the U.S. and China signed a trade agreement between the two countries. There are benefits and costs of this agreement for both countries. more >>
