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Free Trade
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With Maytag and Unocal on the selling block, we must ask: Are we encouraging China to declare economic war with the U.S.? America's trade deficit with China generates free capital with which China can purchase U.S. assets. But don't think that it's only Chinese money that's fueling this feeding frenzie. |
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Global Banking
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"Birds of a feather, flock together." If all goes well, BofA will own up to 19.9% of China Construction Bank (CCB) by the end of 2005. Funding for the deal starts at $2.5 billion (for the first 9%) and goes up from there. Given the systemic corruption at CCB -- it's lost two chairmen of the board in the last five years -- we can expect lots of future stories on this marriage. |
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General
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Henry Kissinger recently spoke at the US-India Business Council and alluded to an emerging energy crisis based on declining oil and production. As the consummate internationalist, whenever Kissinger speaks, one had better pay attention! |
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World Trade Organization
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The World Trade Organization (WTO) has appointed a new Director General, Pascal Lamy. This note gives a little background to Mr. Lamy. |
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General
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Reuters has embraced globalism. Would you like your news baked in India, Singapore, England or Canada? The Newspaper Guild-Communications Workers of America are already having indigestion. |
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