On June 23, the United Kingdom will hold a referendum on whether Britain should remain in or leave the European Union. In the days leading up to the election, the public seems to be evenly split on whether to stay or go, raising questions about what the European Union would look like without Britain and vice versa.
SINGAPORE -- It turns out that what most defines the emerging world is not fragmentation of countries but integration within regions. Major world regions are forging dense infrastructural connectivity and reorienting their relations around supply chains rather than borders. The same world that appears to be falling apart is actually coming together in much more concrete ways than today's political maps suggest.
A free trade agreement (FTA) expands economic opportunity in foreign markets for American workers and businesses, while doing the same for their foreign counterparts in our market. The increased trade improves the overall economy of each country. But, in order to avoid unwanted side effects, modern FTAs do more.
The financial markets have been through some wild and crazy times over the last two weeks, although it appears that they have finally stabilized. The net effect of all the gyrations is that a serious bubble in China's market seems to have been at least partially deflated. After hugely overreacting to this correction, most other markets have largely recovered. Prices are down from recent peaks, but in nearly all cases well above year-ago levels. But the stock market is really a sideshow; after all, back in 1987 the U.S. market fell by almost 25 percent for no obvious reason, with little noticeable effect on the U.S. economy. The more serious question is what is happening with the underlying economy, and there are some real issues here.
The lack of enforcement of the U.S.-Peru free trade agreement has allowed the illegal timber trade to flourish and has put our environment, climate, businesses and consumer rights at risk. And now the United States is negotiating a new free trade deal, the Trans-Pacific Partnership (TPP), that includes the U.S., Peru, and ten other countries.
The critical reason that Congress should take a pass on this much-too-late effort to address currency manipulation is that it would likely abort our chance for a really beneficial free-trade agreement with Pacific Rim nations, which would bring us must better access to many growing markets. If there were a good time to do this, it was many years ago.
GENEVA -- The Security Council must be enlarged, and developing countries should be given greater voting rights in the Bretton Woods institutions: the IMF and the World Bank. In exchange, the world's newest powers must begin to take on a greater share of responsibility for the global order upon which their success depends. They can no longer stand on the sidelines, denouncing the injustices of the past. Instead, they must join their peers in building the future.
The key to breaking the climate and energy policy logjam in Washington, D.C., Naomi Klein contends in This Changes Everything: Capitalism vs. the Climate, is the building of a powerful social movement. Citizens can then put leaders into office who are willing to take decisive action to protect the climate.