International Economics Update
April 2002
Copyright (C) 2002 The International Economics Network
http://www.internationaleconomics.net

Website Additions.

No major new additions this month, unfortunately, although updates continue to be made on the news and research papers section.

Interesting Readings.

1. Steely Resolve: The U.S. has, disappointingly, decided to impose tariffs on foreign steel. A brief take is offered by the IHT ('Bush sets steep levies on foreign steelmakers', http://tm0.com/IHT/sbct.cgi?s=131847734&i=476137&m=1&d=2366736), with the general consensus being that it is a terrible move ('Editorial comment: Still time to scrap steel protection', http://tm0.com/sbct.cgi?s=185070289&i=476517&m=1&d=2367420; 'Bush Steps in a Steel Trap', http://online.wsj.com/cgi-bin/wsjgate?source=jopinemaowsj&subURI=http%3A%2F%2Fonline.wsj.com%2Farticle%2F0,,SB1015380983791409320,00.html?mod=opinion&nonsubURI=http%3A%2F%2Fonline.wsj.com%2Ftour). There is likelihood to retaliation, especially by the EU ('America's steel tariffs: The backlash', http://www.economist.com/agenda/displaystory.cfm?story_id=1020649).

2. Ode to Tobin: James Tobin, Yale Professor and Nobel Laureate known more prominently in international economics circles for his so-called "Tobin Tax", passed away on the Mar 11, 2002. Paul Krugman writes a memorial article ('Missing James Tobin', http://www.nytimes.com/2002/03/12/opinion/12KRUG.html).

3. Global Financial Stability Report: The IMF has released its inaugural Global Financial Stability report - it is available in full text online: http://www.imf.org/external/pubs/ft/gfsr/2002/01/index.htm.

4. China Rising: Perhaps a sure sign of China's maturity as an economy is in its investment into surrounding Asia. The Far Eastern Economic Review carried two articles in its latest issue on the phenomenon ('China Invests in Asia', http://www.feer.com/articles/2002/0203_28/p030china.html; 'Beijing moves to ease Southeast Asia's fears', http://www.feer.com/articles/2002/0203_28/p031china.html).

5. Trade Aid: Kofi Annan writes to the NYT on the need for not just trade, but also foreign aid ('Trade and Aid in a Changed World', http://www.nytimes.com/2002/03/19/opinion/19ANNA.html). The IHT carries a related article on how the first world can help the third ('The rich countries will have to do better', http://tm0.com/IHT/sbct.cgi?s=131847734&i=484937&m=1&d=2429687).

Endnotes.

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