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As U.S. auto assembly lines grind to a halt for want of components that usually come from now-disabled factories in northeastern Japan, business strategists may be forced to rethink the way globalized companies do business.
Despite upbeat headlines about Basel III, the stability of the financial system will depend not on such high-profile agreements but on decisions taken once the spotlight is turned off.
Attempting to prevent future financial crises by drafting new global regulations will do more harm than good. If governments adopt the same regulations, they will make the same mistakes. Instead, financial regulation must be the task of individual governments and not multilateral committees.
The golden age of globalization is over due to slower, costlier, and less certain transportation. In retrospect, Americans may lament too little globalization, not too much.
Trade Representative Mickey Kantor's tough talk may have won concessions abroad. But the administration has failed to conquer the greatest threat to open trade: protectionist sentiment at home.
Summary of current US economic dilemmas, sets out a panoramic economic 'agenda' for Reagan's successor. Analyzes the strengths and weaknesses of Reagan's policies, and lists measures needed to improve the US economy at home, and in relation to its major competitors. Covers policy towards international economic institutions, Europe, trade laws and taxes at home. Notes that "significant cuts are possible only in the two largest budget categories, entitlements and defense", and concludes that there is a need for 'much closer cooperation between the executive branch and Congress'.