November 12, 2006 |
The momentous power shift on Capitol Hill last week briefly sounded alarm bells on Wall Street. Some investors quickly dumped healthcare and defense stocks on fears that the Democratic takeover of Congress would hurt those industries. But apart from those sectors, the market couldn't identify many other potential casualties of the changeover. If the end of the 4-year-old stock bull run is near because Republicans no longer rule the House or the Senate, it wasn't apparent in broad market indexes.
February 5, 2006 |
From Paris to Berlin, and from Warsaw to Rome, governments are showing increasing hostility toward foreign companies wishing to take over prized national assets. The obstacles faced by bidders from abroad include discriminatory laws and downright opposition against individual mergers. The trend has caused concern not just in the boardrooms of acquisitive European companies, but also in the European Commission.
October 22, 2005 |
For Hollywood, the decision this week by delegates to a key United Nations agency to back a treaty to promote cultural diversity is reading like the script to a bad sequel. On Friday, the Motion Picture Assn. of America trade group warned in a statement that the U.N. Educational, Scientific and Cultural Organization accord was protectionism in disguise, the latest attempt by some countries to enact barriers that could allow them to restrict the importing of American movies and music.
July 1, 2005 |
Two U.S. senators said Thursday that they had agreed to delay a vote on a bill threatening China with steep tariffs after being convinced that China could revalue its currency soon. Sen. Charles E. Schumer (D-N.Y.) and Sen. Lindsey Graham (R-S.C.) told reporters that they had struck a deal with Treasury Secretary John W. Snow to put their bill on hold until later this year, giving China more time to act on its own to revalue the yuan.
June 24, 2005 |
As the proposed Chinese purchase of Unocal Corp. fanned protectionist passions in Congress, Federal Reserve Chairman Alan Greenspan warned senators Thursday not to let their frustrations with China's economic policies breed reactions that would do the U.S. economy more harm than good. Proposed tariffs against Chinese goods and other forms of protectionism would significantly lower U.S. living standards and would not save American jobs, Greenspan told members of the Senate Finance Committee.
June 6, 2005 |
Growing protectionist sentiments in this country, which have escalated tensions between the United States and some of its key trading partners, are threatening to stall the global movement toward freer trade. That in turn could provoke trade wars that would slow global economic growth and penalize American consumers through higher prices for a wide variety of goods, including clothing and television sets, some economists fear.