Led by China and India, Asia's superfast economies have dazzled observers for the last decade. But until recently the defining feature of most of them was corporate bigness. Now Asia is the scene of a broad flowering of startup activity -- as evi
China is shipping so many goods to the US that the Chinese often find it cheaper to build new containers with low-cost labor and leave their empty ones in the US than send them home empty. "These containers are here to stay,"
China's trade surplus hit a record in July for the third month in a row, reinforcing the case for a stronger yuan to address policy makers' growing concerns about the country's economic imbalances.
OPEC member Iran has signed a $2.7 billion oil refinery upgrade deal with China which will help feed the Islamic republic's hunger for fuel, Iranian state television reported. Under the accord, a consortium led by Chinese firm Sinopec will upgra
The European Union waded out to salvage a mini deal from the wreck of world trade talks, but experts said the tide has turned foul for three years because of US elections.
Negotiations among six key governments over a new global trade agreement collapsed, with the European Union, Brazil, India and Japan blaming U.S. unwillingness to cut farm subsidies.
Investor confidence in Germany slumped to its lowest level in 14 months this month, a new poll has shown, with the party mood in the eurozone's biggest economy soured by a nasty-tasting cocktail of the strong euro, high oil prices and imminent ta
FEARS are growing of a sharp slowdown in the global economy, triggered by big increases in energy prices and rising interest rates. Economists at HSBC say there is a greater risk of a “hard landing” for both the world economy and Britain.
If Iran were to pull out of the oil market, Standard & Poor's estimates that oil could jump to $90 a barrel, says Mr. Wyss. If Iran tries to close the Strait of Hormuz, he says, "you are talking $150 a barrel."
In a chilly summit prelude, President Bush blocked Russia's entry into the World Trade Organization and President Vladimir Putin mockingly said Moscow doesn't want the kind of violence-plagued democracy the United States has fostered in Iraq.
[Where's the beef?] A dispute over access for U.S. meat to the Russian market helped frustrate U.S.-Russian talks on a deal for Russia to join the World Trade Organization, America's top trade negotiator said. After intense, late-night neg
3 US senators have written to President Bush asking him to raise the issue of a top fund manager's exclusion from Russia with Russian President Vladimir Putin at the G8 summit. The Hermitage Capital Management which manages over $4 billion of int
The G-8 summit that President Bush and seven other world leaders are attending next weekend in Russia is often billed as a gathering of the world's leading economic powers. It is not. Consider: China, now the world's fourth-largest economy an
Russian lawmakers approved a bill that upheld a monopoly on gas exports held by state-run giant Gazprom, spurning European requests for a relaxation of Gazprom's grip on the sector.
Memories of Russia's default on $40 billion of domestic debt 8 years ago, when people queued outside banks to withdraw rubles that were plummeting in value, have barely faded from the national psyche. Yet, remarkably, with coffers swollen
A key part of the plan is to expand the NAFTA tribunals into a North American Union court system that would have supremacy over all U.S. law, even over the U.S. Supreme Court
High in the Himalayas, a barbed wire fence snakes its way across a desolate landscape. On most days, a thick, white, freezing cloud descends across the peaks, and it is hard to see anything. But now and then a figure looms out of the mist, dressed in
The United States needs to show greater moral and economic leadership if it wants to be an influence in the developing world amid the rise of emerging powers like China, former World Bank head and Citigroup advisor James Wolfensohn said.
The financial data coming out of China is alarming. Growth in the first quarter hit a torrid 10.3%. On June 12, the government reported that China's global trade surplus hit $13 billion in May, with exports climbing 25% vs. the year-ago period. T
Asia has the "second mover advantage" of being privy to all the Western World's mistakes. They are able to see where profligacy and runaway entitlement programs have led.
Secretary of Defense Donald Rumsfeld will urge Asian nations at a security meeting in Singapore to resist attempts to exclude the US from regional groupings. The "United States is very much a Pacific nation" and that he would meet as many a
Now Iran, the 2nd largest OPEC producer, is getting ready to open a new oil bourse that will trade in euros. And Venezuela is said to be actively discussing the same move.
The idea to form the North American Union as a super-NAFTA knitting together Canada, the United States and Mexico into a super-regional political and economic entity is well under way... (Watch the Mexican elections in July)
A tightly knit group of Indaparapeo immigrants living in the US is sending money back to fuel a university scholarship program. Typically, migrants who cobble together remittances choose to build publicly viewable bridges, roads, or soccer parks. But
The United Arab Emirates and South Korea signed a series of accords yesterday, including a memorandum of understanding on stockpiling Emirati oil in South Korea, on the second day of a visit by the South Korean president. The MoU, whose terms have y
Zimbabwe's annual inflation rate has topped 1,000 percent for the first time. The economy has been in free fall since President Robert Mugabe's seizure of 5,000 former white-owned commercial farms in February 2000.
The European Union and six Central American leaders said they hoped to launch free trade talks before the end of the year. EU leaders at a summit warned Bolivia and Venezuela that their increasingly nationalist policies could clip economic growth, an
The competitiveness of the US economy, still the highest in the world, is being undermined by the US government, allowing more efficient and smaller Asian and Nordic economies to catch up, a leading ranking of the most competitive nations show
A decision to officially brand China a manipulator would require the administration to formally open negotiations with Beijing but its main effect would be as a signal to currency markets that the US wants the dollar to decline in value.
Meet Charles Koch. Philosopher, engineer, self-trained economist, libertarian activist, philanthropist -- and the CEO of Koch Industries, a $60 billion, 80,000-employee empire, which just recently became the largest and most profitable privately held