IBT News Blog

This article discusses the impact of freeing trade between the US and the Dominican Republic on the Dominican Republic. See http://www.ft.com/cms/s/0/1ec611da-116c-11dd-a93b-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=a22ad130-8ad8-11db-8940-0000779e2340,print=no,_i_email=y.html

This article discusses Mexico and Canada's support for US efforts to expand NAFTA and the controversy over expanding NAFTA. See http://www.iht.com/articles/2008/04/23/america/23trade.php

The leaders of four Latin American countries have devised an agreement to control the costs of food within their countries. See http://news.bbc.co.uk/go/em/fr/-/2/hi/americas/7364153.stm

The Office of the Comptroller of the Currency (OCC) was established in 1863 as a bureau of the US Department of the Treasury. The OCC charters, regulates and supervises all national banks. Furthermore, it supervises the federal branches and agencies of foreign banks.

Typical to many government agencies, the OCC performs quasi-legislative and quasi-judicial functions. It has the authority to issue agency rules, legal interpretations, and corporate decisions concerning banking, bank investments, bank community development activities, and other aspects of bank operations.

The OCC activities are based upon four objectives: 1) to ensure the safety and soundness of the national banking system; 2) to encourage competition by allowing banks to offer new products and services; 3) improving the efficiency and effectiveness of the OCC; and 4) to ensure fair and equal access to financial services of all Americans.

http://www.occ.treas.gov/aboutocc.htm

Recently, the OCC announced the creation of a new group to focus on international supervision, stating that "International banking issues have grown increasingly important to the OCC and the national banking system."

http://www.occ.treas.gov/ftp/release/2008-37.htm

This could raise several questions concerning increased political administration in private banking issues. Essentially, since the OCC has the authority to pass regulations and enforce them upon national banks, it has the ability to affect how national banks engage in international agreements.

Suppose that the President decides that it does not condone political activity in Cuba. To foreclose investment in tandem with US banks, the President orders the OCC to scrutinize prospective banks who are in communications with Cuban investors. Effectively, without formal action or accountability, the executive can unilaterally prevent private investment activity to further unrelated agendas.

Granted, perhaps that is a very cynical view, but in my opinion it is not that improbable for the Executive to exercise his influence in that matter. Do you agree that this could create an avenue for underhanded political activity in international banking? Or do you think that the creation of the new group on international activity in OCC will ultimately lead to better coordinated and more profitable investment activity while protecting the banking industry within the United States?

submitted by: Brian

This article discusses the potential impact of environmental legislation currently pending before the US Congress on the development of Canadian oil sand as a source of energy. See http://www.ft.com/cms/s/0/13efc1f2-1004-11dd-8871-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=5aedc804-2f7b-11da-8b51-00000e2511c8,print=no,_i_email=y.html

In an update to a previous posting, it appears that Chinese weapons meant to be sold to Zimbabwe might be returned to China after public outcry over the sale. See http://news.bbc.co.uk/go/em/fr/-/2/hi/africa/7360438.stm

This article discusses Turkey's newest bargaining strategy in its bid to become a member of the EU. See http://www.iht.com/articles/2008/04/22/europe/letter.php

This is a follow-up story on a previous posting regarding tainted heparin from China. See http://www.iht.com/articles/2008/04/22/business/heparin.php

Found a comment by Obama, and posted on some blogs, that was pretty interesting. It was not interesting for its substance, but its striking lack of it, and promise to do actually nothing. As the blogger eloquently put it:

Tough Talk on China's Currency

This article discusses the link between South Africa, China and Zimbabwe with regard to transporting arms to the Zimbabwean government and the massive controversy it has caused. See http://www.iht.com/articles/2008/04/19/africa/19zimbabwe.php

This article discusses the WTO's new policy stance on the focus of international aid away from traditional areas and towards agricultural assistance. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7355949.stm

In a landmark move meant to assist in the promulgation of several trade treaties between the US and Korea, the Korean government has announced that it will relax its restrictions on importations of US meat products. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7353767.stm

This article discusses the political and societal ramifications of the rice market problems on Asian nations. See http://www.iht.com/articles/2008/04/18/asia/food.php

This article discusses the EU's announcement that China supplied the greatest number of dangerous toys on its market last year. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7353118.stm

This article discusses the recently announced agreement between Libya and Russia, under which Russia will forgive millions of dollars in Libyan debt it holds from the Col War period in exchange for Libyan assurances that military and other contracts will be awarded to Russian businesses. See http://www.iht.com/articles/2008/04/17/business/rusbiz.php

This article discusses the argument between the UK beef industry and EU meat regulators over the use of mince, a traditional British ingredient. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7349320.stm

This article discusses Canada's attempts to recognize a compound prevalent in everyday plastics as toxic and to label products which contain it. See http://www.iht.com/articles/2008/04/16/business/plastic.php

This article discusses the Japanese government's plans to prevent the sale of a stake in an energy corporation to a British entity. See http://www.iht.com/articles/2008/04/16/business/tci.php

The current repression on Tibetans by Chinese authorities has upset the international public opinion. But which country would take the risk to talk too loud, in a moment where there is so much benefit to be drawn from investing in China? Some politicians like Hans-Gert Poettering (president of the European Parliament) have risen the possibility of boycott (see his words in the Financial Times). But the boycott at issue would be political, not commercial.

Could international trade law ever be used as a way to enforce international human rights law objectively?

Article XX of the GATT set forth exceptions in which the High Contracting Parties are free to adopt measures restricting international trade, that would otherwise be condemnable under the Agreement (as long as the non-discrimination principle is preserved, or as long as the national measure is not a disguised restriction on international trade). But exceptions of Article XX mention no exception relating specifically to human rights, and drafters of the GATT never had the intention to do so. Voices have recommended recently that more deference and consideration be shown by the law of the WTO to this aspect, as humanitarian law should prevail on trade interests (see the Preliminary Report E/CN.4/Sub.2/2000/13 submitted by Special Rapporteurs to the Sub-Commission on the Promotion and Protection of Human Rights, on June 15^th, 2000). But those views are related to the impact of globalization on human rights and mostly contemplate labor law. What if one or several countries wanted to start an embargo on Chinese goods, because of violences in Tibet?

Embargos are contrary to the rules enforced by the WTO. In the Shrimp case (November 6^th, 1998), the Appelate Body of the WTO has ruled that, concerning measures imposing restrictions of trade extraterritorially, there must be a “sufficient nexus” between the State adopting such a measure and the cause for which the measure is taken. Under this standard, which country could establish such a connection between Tibetans and the embargo measure? The nexus would not be deemed inexistant.

This standard is actually consistent with a fundamental case of public international law. In the South West Africa case, which was decided by the International Court of Justice, Ethiopia and Liberia had brought an action to denounce the apartheid regime enforced by South Africa during its mandate. In its judgment of July, 18^th 1966, the Court found that the two countries had no standing to bring this action, because plaintiffs had failed to establish their legal rights or interests in the subject-matter. So that, in international law, there can be no actio popularis (the right for any member of a community to bring an action to defend public and common interests).

This restrictive conception of the international standing shows that moral or humanitarian considerations are not always sufficient to create duties and obligations on members of the international community.

submitted by: Tina

This article discusses the roles of trade and human rights concerns in EU/China relations. See http://www.iht.com/articles/2008/04/15/business/trade.php

Pakistan has publicly requested an oil pipeline alliance with Russia. See http://news.bbc.co.uk/go/em/fr/-/2/hi/south_asia/7347799.stm

A Chinese court has ruled in favor of Gucci in a copyright infringement case involving a Chinese company. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7347936.stm

This article discusses the link between US and EU biofuels promotion and the current food crisis. See http://www.iht.com/articles/2008/04/15/business/15food.php

This article discusses a deal between the EU and Turkmenistan which would provide the EU with a gas supply which is not dependent on Russia. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7347051.stm

This article discusses one of the many issues raised in regards to the proposed Colombia-US free trade act. See http://www.iht.com/articles/2008/04/13/america/bogota.php

The IMF has issued a new statement containing its projections for the impact of rising food costs on a global scale. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7344892.stm

After riots over food supplies, the Haitian parliament has decided to remove its prime minister. See http://news.bbc.co.uk/go/em/fr/-/2/hi/americas/7344729.stm

This article discusses worldwide - and particularly Nordic - sentiments regarding globalization. See http://www.ft.com/cms/s/0/1723a36c-0734-11dd-b41e-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=7c485a38-2f7a-11da-8b51-00000e2511c8,print=no,_i_email=y.html

The Colombian Free Trade Agreement was stopped in the US House of Representatives. See http://www.ft.com/cms/s/0/34f9732a-074e-11dd-b41e-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=c59753ec-d316-11db-829f-000b5df10621,print=no,_i_email=y.html

This article discusses the link between the increased value of the Euro and the increase in the cocaine-based drug trade in Europe. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7342946.stm

Members of the European Parliament have declined to punish illegal online file-sharers by removing their ability to access the internet. See http://news.bbc.co.uk/go/em/fr/-/2/hi/technology/7342135.stm

This article discusses the Australian government's oversight of potential Chinese interest in purchasing shares of a major Australian mining company in order to preserve the best interests of the nation. See http://www.iht.com/articles/2008/04/10/business/bhp.php

This article discusses the outcry over a proposed arms transaction between Slovakia and Sri Lanka. See http://news.bbc.co.uk/go/em/fr/-/2/hi/south_asia/7339423.stm

This article discusses the impediments to full accomplishment of the EU's global poverty eradication plan. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7339325.stm

Venezuela has nationalized its largest steel maker, which is a Luxemburg-owned entity. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7339612.stm

This article discusses attempts by an activist group to ask the EU to ban certain food colorings. See http://news.bbc.co.uk/go/em/fr/-/2/hi/health/7340426.stm

A British court has found that the British government erroneously dropped its investigation of the sale of arms by a British manufacturer to the UAE. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7339231.stm

This article discusses criticisms of the EU's proposed sovereign wealth fund reforms. See http://www.ft.com/cms/s/0/16c0f1a2-058d-11dd-a9e0-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=7c485a38-2f7a-11da-8b51-00000e2511c8,print=no,_i_email=y.html

This article discusses the impact of the US economy's downturn in the economic situation on various Latin American countries. See http://www.ft.com/cms/s/0/94f80a60-05b0-11dd-a9e0-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,print=no,dwp_uuid=a22ad130-8ad8-11db-8940-0000779e2340,_i_email=y.html

This article discusses the impact of increased inflation in Asia on the West. See http://www.iht.com/articles/2008/04/07/business/inflate.php

In advance of the G7 meeting, Japan is urging G7 members to place the current credit market instability on its agenda. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7335945.stm

India has announced that it will lower its trade barriers with African nations. See http://www.iht.com/articles/2008/04/08/business/summit.php

This article discusses the potential Japan-EU trade agreement. See http://www.ft.com/cms/s/0/33ef59f6-03eb-11dd-b28b-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=f4ebce78-e821-11db-b2c3-000b5df10621,print=no,_i_email=y.html

This article discusses the mounting tension in the French economy between labor unions and stores which wish to open on Sundays. See http://www.iht.com/articles/2008/04/07/business/franc.php

This article discusses the decision of Sotheby's to stop a potential sale of Sikh armor. What are the larger implications of this particular case on the rights of cultures to their artifacts versus the idea of free trade in antiques? See http://news.bbc.co.uk/go/em/fr/-/2/hi/south_asia/7334229.stm

New Zealand has just signed a free trade agreement with China. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7333983.stm

The EC has just lost the latest round of the banana wars to a combination of Latin American nations. See http://news.bbc.co.uk/2/hi/business/7335070.stm

This article discusses the various ways in which foreign investments in the US have impacted American workers and the economy. See http://www.iht.com/articles/2008/04/07/business/07sale.php

Nigeria has canceled the sale of its largest steel plant to an Indian entity after allegations of improprieties throughout the contracting process. See http://www.ft.com/cms/s/0/3106ec7c-01ac-11dd-a323-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=415f2042-300f-11da-ba9f-00000e2511c8,print=no,_i_email=y.html

This article discusses the EU's likely new suit against the US regarding biofuels. See http://www.ft.com/cms/s/0/125ec320-0013-11dd-825a-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=728a07a0-53bc-11db-8a2a-0000779e2340,print=no,_i_email=y.html

This article discusses the conflict between the Champagne region and the town of Champage in Switzerland, which also produces wine. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7332473.stm

This article discusses the attempts of Gazprom - the Russian state-owned gas and oil company - to gain access to resources in Africa. See http://www.ft.com/cms/s/0/ac2eb4d4-012a-11dd-a0c5-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=5b566934-3013-11da-ba9f-00000e2511c8,print=no,_i_email=y.html

This is a further update on the situation between BP and Russia. See http://www.iht.com/articles/2008/04/04/business/bp.php

In light of recent loosening of certain economic restrictions in Cuba, this article discusses the modernizing trends brought in under Raul Castro. See http://www.iht.com/articles/2008/04/03/america/cuba.php

This article discusses India's attempts to break into the African investment market. See http://www.iht.com/articles/2008/04/03/business/afrinvest.php

Venezuela has unveiled a new tax plan on oil corporations in light of its view that oil-based profits are "excessive." See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7327791.stm

This article discusses the joint strategy of the US and the EU to encourage better toy safety standards for toys produced in China. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7329520.stm

This article discusses a newly signed transportation agreement between Burma/Myanmar and India. See http://news.bbc.co.uk/go/em/fr/-/2/hi/south_asia/7327755.stm

This article discusses the recent visit of the US Treasury Secretary to China. See http://www.iht.com/articles/2008/04/03/business/paulson.php

This article discusses the World Bank's statements on the need to combat the problems posed by rising food costs around the world. See http://news.bbc.co.uk/go/em/fr/-/1/hi/world/7327647.stm

This article discusses the problem of US-made computer parts being funneled through the United Arab Emirates to terrorist groups which use them against US troops in Iraq and the success of attempts to stop this trade. See http://www.iht.com/articles/2008/04/01/mideast/uae.php

The EU has annonced that it will investigate the actions of the British government in relation to the failure of the British bank Northern Rock. See http://www.iht.com/articles/2008/04/02/business/2rockfw.php

The government of Iceland is facing the possibility of having to intervene to save its economy from threats posed by hedge funds. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7326063.stm

Egypt and Saudi Arabia have announced that they will lower import duties on food and related products in order to combat food shortages and rising inflation rates. See http://www.ft.com/cms/s/0/f9c07fa6-0013-11dd-825a-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=a955630e-3603-11dc-ad42-0000779fd2ac,print=no,_i_email=y.html

This article discusses China's efforts to foster its relationship with Nigeria. See http://www.ft.com/cms/s/0/7a46f5d4-0013-11dd-825a-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=9c33700c-4c86-11da-89df-0000779e2340,print=no,_i_email=y.html

A newly issued EU decision could have the impact of making cheap prescription drugs more readily available in the EU. See http://www.ft.com/cms/s/0/dbad87fa-0038-11dd-825a-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=62398742-53ce-11db-8a2a-0000779e2340,print=no,_i_email=y.html

This article discusses the trading trend of Asian nations turning to the Moddle East and Russia as partners rather than the US and the EU. See http://www.ft.com/cms/s/0/28d3e6e6-ffa3-11dc-b556-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=abb716b0-2f7a-11da-8b51-00000e2511c8,print=no,_i_email=y.html

In a further development, a British court has reversed a lower court decision placing an injunction on Venezuelan assets pending the outcome of the British-filed Exxon case. See http://www.ft.com/cms/s/0/9e4420e0-f520-11dc-a21b-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=266499dc-8ad8-11db-8940-0000779e2340,print=no,_i_email=y.html

The governments of Sweden and Denmark have announced that they will merge their postal services into one corporate entity that will, over time, be a publicly traded entity. See http://www.iht.com/articles/2008/04/01/business/post.php

Argentine farmers have rejected the government's concessions regarding taxation of their products and intend to resume their strikes. See http://news.bbc.co.uk/go/em/fr/-/2/hi/americas/7323152.stm

As expected, the WTO dispute resolution body ruled against the EU in the ongoing meat hormones case, however the dispute resolution body also reprimanded the US and Canada for their selection of products to retaliate against. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7323200.stm

This article discusses the reasons for the rising rice prices across the market. See http://www.iht.com/articles/2008/03/31/business/food.php

In a follow-up to a previous post, the US-European open skies agreement in aviation went into effect today. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7318455.stm

Russia has been granted contracts to develop nuclear power facilities in Egypt. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7313037.stm

President Bush has announced that he is willing to make key agricultural concessions in order to further the progress of the Doha round of trade negotiations. See http://www.iht.com/articles/2008/03/28/business/28trade.php

This article discusses the US Treasury Department's proposal to overhaul and increase its ability to investigate the financial market as a whole and its many component parts. See http://www.iht.com/articles/2008/03/29/business/regulate.php

This article discusses the IMF's institutional power redistribution plan, as well as the opinions of those nations which stand to gain and lose under the proposal. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7319718.stm

In a follow-up to the meat hormones WTO dispute we read for class several weeks ago, the WTO dispute resolution body is expected to issue a decision next week which allows the continued US and Canadian sanctions against certain EU products which stemmed from the original dispute to be continued. See http://www.iht.com/articles/2008/03/28/business/wto.php

This article discusses the potential impact of a Chinese anti-monopoly law on Microsoft's attempts to buy Yahoo. See http://www.iht.com/articles/2008/03/28/technology/28yahoo.php

This article discusses the Indian government's attempts to ensure that its citizens who work overseas - especially in Gulf nations - receive fair wages. What does this indicate about the idea of globalized workforces? See http://www.iht.com/articles/2008/03/27/business/rights.php

In a follow up to a recent post, the EU is now investigating claims that Italian mozzarella contains an unacceptable amount of dangerous chemicals and has threatened to ban mozzarella in the future. See http://www.iht.com/articles/2008/03/27/europe/union.php

EADS, the consortium of Airbus and Northrup Grumman, has just been awarded a major contract by the Royal Air Force. This follows up its recent and controversial award of a large contract by the US Department of Defense. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7316835.stm

This article discusses the World Bank's concerns over Pakistan's current economic conditions and their impact on future Pakistani economic trends. See http://news.bbc.co.uk/2/hi/business/7316517.stm

This article discusses the potential of EU action against Canada to stop its seal hunt. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7314903.stm

The OECD has come out with a new set of policies on sovereign wealth funds. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7312263.stm

This article raises interesting questions regarding the role of the EU in its members' trade practices per se. See http://www.iht.com/articles/2008/03/24/business/rtrinside25.php

This article discusses the latest attempts by the US Treasury Department to stop US firms from using the Iranian Central Bank. See http://www.ft.com/cms/s/0/efebdb30-f788-11dc-ac40-000077b07658,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=fc3334c0-2f7a-11da-8b51-00000e2511c8,print=no,_i_email=y.html

This article discusses the penalties assessed against AB Volvo for its involvement in the Iraq oil-for-food program. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7307432.stm

This article discusses the decision of the government of the Democratic Republic of the Congo to review all mining contracts currently in existence. What are the implications of this for attractung outside investment into developing, and especially war torn, countries? See http://news.bbc.co.uk/2/hi/africa/7306325.stm

This article discusses the various points of view on the reasons for Ethiopia's drastic price increases. See http://news.bbc.co.uk/go/em/fr/-/2/hi/africa/7308578.stm

Cuba has announced that it will ease a ban on various electronic goods. See http://news.bbc.co.uk/go/em/fr/-/2/hi/americas/7295714.stm

The Economist ran a story on the impact government can have on a country's general wealth. According to a recent research, a country is generally wealthier if the State enforces the rule-of-law. The research tends to prove that countries who enforce the rule-of-law are generally wealthier.

http://www.economist.com/research/articlesBySubject/displaystory.cfm?subjectid=7933596&story_id=10835590

http://www.worldbank.org/

In my eyes, this research is essentially flawed: it does not define what test was applied to define the "rule-of-law" and compare its enforcement between the countries. It is not clear how the enforcement of the rule-of-law was quantifiable.

However, even though the resarch did not provide evidence of anything in my opinion, it had the merit of raising the question of the Legislator's role in providing a realiable and prosperous economy. Civil law countries, who often choose to enact restrictions on businesses (labor and other protective measures), are deemed to provide a poor structure for businesses and have been criticized by the World Bank. Countries who have a tradition of common law, on the other hand, are considered to provide a better context for businesses. Though we should avoid generalizing, civil law countries tend to allow the creation of businesses so long as the activity is run in a way that complies with rules enacted to protect classes of people considered to be in a weak position. Common law countries have been known for favoring contractual relationships, which is considered to be good for evolving businesses.

In the US, citizens are suspicious of governments and want the government to get involved in what it has to get involved in, leaving the market and the parties to a contract solve the rest of the issues. In Europe - with the important exception of the UK (common law country) - citizens expect the governement to participate in the development of the country's welfare. Not surprisingly therefore, France has been very criticized by the World Bank, because of high taxes and strict labor laws and Italy and Greece in this study constitute an exception to the finding that rich countries have good enforcement of the rule-of-law. In light of the this conception of the role of government, China appears as another exemple. Though the country is opening up to free trade and the Western world, the State is still very involved in what used to be a totally nationalized and planned economy. Obviously, France, Italy and Greece are developped countries that have been able to maintain decently wealthy economies. China has incredibly increased its wealth in recent years and now poses a threat to Western economies, while being a of major attraction for these same Western countries. Therefore, is the position according to which a government should get the least involved to enjoy a prosperous economy simply wrong?

Note that the World Bank's website has numerous articles about the subject, some old, some more recent. The Economist's source was actually the World Bank.

In a follow-up to a prior posting, the House of Lords has found that a UK man charged with price fixing in the US cannot be extradited based on thiose charges. See http://www.ft.com/cms/s/0/5d430478-f02d-11dc-ba7c-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=f4ebce78-e821-11db-b2c3-000b5df10621,print=no,_i_email=y.html

This article discusses the position of British Prime Minister Gordon Brown that the EU should reduce taxes on "green" products in order to encourage their use and consumption. Are there potential ramifications under GATT? See http://news.bbc.co.uk/go/em/fr/-/2/hi/uk_news/politics/7293142.stm

It appears that a more final deal has been reached between the Ukraine and Gazprom. See http://news.bbc.co.uk/go/em/fr/-/2/hi/business/7293642.stm

This article discusses Curacao's new role as a place for Venezuelans seeking US dollars to visit in the wake of actions by the Venezuelan government to crack down of currency trading involving dollars. See http://www.iht.com/articles/2008/03/12/america/journal.php

This article discusses the structure and goals of the Global Fund to Fight AIDS, Tuberculosis and Malaria, a hybrid intergovernmental and private organization. See http://www.iht.com/articles/2008/03/11/business/glob12.php

Protests over the imposition of sanctions against certain parts of the economy in Belarus by the US have led to the temporary recall of the US ambassador to Belarus. See http://news.bbc.co.uk/go/em/fr/-/2/hi/europe/7292067.stm

Although this article only highlights current developments in the Taiwan/China issue, I think the article is valuable in pointing out some impacts that international relations has on economy. http://www.nytimes.com/2008/03/12/world/asia/12taiwan.html?ref=asia

Because of the history between Taiwan and China, the ensuing Korean War, and the rift between USSR and China, the sovereign status of Taiwan has been in limbo for over 50 years. Until fairly recently, Taiwan claimed to be the legitimate government over China, but changed its stance when a pro-independence president was elected almost 8 years ago. Then, in part due to China's soaring market, and in part due to political strife domestically and with China, Taiwanese economy soured. Today, any political development will greatly impact the Taiwanese economy (I believe almost 30% of the Taiwanese exports is to China). And vice versa, any development will also affect how the Taiwanese government approaches the issue of China.

submitted by: AL

This article discusses the attempts by the European Commission to increase its role in the trading activities of firms within member states, an area which was typically reserved for the member states themselves. See http://www.ft.com/cms/s/0/0fcdeb3a-efc0-11dc-8a17-0000779fd2ac,noOfParas=2,emailFormat=plainText,storyType=ultralight,dwp_uuid=8baec054-53d0-11db-8a2a-0000779e2340,print=no,_i_email=y.html

This article discusses the successfulness of international trading agreements and dispute settlement entities, as well as their perception in the developed and developing world. See