Nature An Economic History

I had hoped to provide an occasion for thoughtful debate with my essay "What next? US foreign policy after Bush" (12 February 2007), and am therefore pleased by the insightful responses from Mary Kaldor, Richard Falk, Sankaran Krishna, Mark Kingwell, Mark Luccarelli and David Rieff. What surprised me the most was the assumption on the part of several respondents that I was defending some sort of Realpolitik, when my purpose was in fact to propose an alternative United States strategy of defending liberal internationalism backed up by a great-power concert including, but not run by, the US.

To Richard Falk's accusation that I suffer from "Westphalian myopia" I plead guilty. Liberal internationalism, as I understand it, is not an alternative to the Westphalian state system but a version of it.

Shafer to Speak during President's Lecture Series

VALDOSTA - Dr. Jeffrey R. Shafer, Vice Chairman of Citigroup's Global Banking, Head of Economic and Political Strategies and Former Under Secretary of the Treasury for International Affairs, will speak during the President's Lecture Series Monday, April 9 in Pound Hall Auditorium, Langdale College of Business at Steele North Campus. Dr. Shafer will offer open dialogue from 9:30 until 10:30 a.m. as well as a public lecture from 6-7 p.m. which is entitled: “China's Economic Emergence: World Impact and U.S. Response." The presentation will offer information on China's growth in the world economy as well as its transformation from poverty into a political and economic influence. Through his experiences, Dr. Shafer has gained extensive knowledge on this and many other subjects. His position at Citigroup places on him the responsibilities of identification and analysis of key global economic and political issues as well as maintaining relationships with key government officials around the world.

Chile's Peso Rises to Two-Week High as Economic Growth Quickens

April 5 (Bloomberg) -- Chile's peso rose to a two-week high after a central bank report showed the economy grew at its fastest pace in nine months in February.

The central bank's economic activity indicator rose 5.7 percent in February, more than the 5.3 percent increase in January, the central bank said on its Web site.

Dollar's climb vs. Euro

The dollar edged up from a two-year low against the euro in Asian trade Friday as players took to the sidelines ahead of keenly awaited U.S. jobs data, dealers said.

The euro slipped to 1.3417 dollars in Tokyo afternoon trade from 1.3427 in New York late Thursday, when it had hit 1.3441 dollars, the highest level since March 2005.

Dealers said trading was quiet with the U.S., European and many Asian financial markets closed Friday, even though Washington releases its nonfarm payrolls report, seen as a critical economic indicator on the world's largest economy.

Investors are paying close attention to the jobs data following a slew of weak U.S. figures which have fanned jitters over the pace of the U.S. economic slowdown, dealers said.

IKK/DB
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Dollar Slides on China Sanctions

U.S. 10-year Treasury bond prices closed slightly lower on a high-range day today. Consumer spending and a positive business activity report helped to boost confidence in the U.S. economy. Bonds have been trading in a fairly tight range for about a month, and despite the whipsawing, prices closed within normal range today. Housing reports continue to be a major focus for traders, who see the housing sector as a broad economic indicator of U.S. economic health.

The dollar fell against the euro and the yen today, after U.S. imposed trade sanctions on China. The protectionist measure caused to the dollar to fall against the major currencies. The yen has been the key focus for currency traders lately, as the ramifications of the yen carry trade are felt during global selloffs, when traders buy back the yen to cover riskier positions.

The morning after the fight before

Free paella and the music of Chas and Dave was not enough. Perhaps it was naive to think it ever could have been, because the events in Seville on Thursday night were as much a legacy of decades of clashes between English fans, foreign supporters and police that meant a mutual suspicion long ago entered into the collective psyche of all involved.

Despite pre-match warnings to be on their best behaviour and that the police would show zero tolerance to those who appeared to be drunk, Tottenham's followers were never likely to forsake a few pre-game pints or behave as if they were wandering around a library rather than a city that is, in normal times, known for its revelry.

DIARY - Belgium to June 30, 2007

Reuters publishes a Western European company diary covering earnings, shareholder meetings, news conferences and analyst meetings. Double-click on [WEU/EQUITY] or type in the code and hit F9.

FRIDAY, APRIL 6 Good Friday, Euronext closed, but not a public holiday in Belgium MONDAY, APRIL 9 Easter Monday.

Conn. professor-activist attempts to spark resistance

HARTFORD, Conn. — The words “Third World" might bring to many minds images of countries reeling with problems like famine, hunger and anarchy on the streets. Vijay Prashad, professor of international studies, and George and Martha Kellner Chair of South Asian History, has a different take on the Third World, which he explains in his recent book, “The Darker Nations: A People's History of the Third World."