The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
JUST SAY NON
The biggest celebrity in France last year was neither an entrepreneur, nor a sports figure, nor even an entertainment personality. It was the sheep farmer José Bové, whose claim to fame was his destruction of a French McDonald's last August. He followed that with a triumphant trip to the Seattle meeting of the World Trade Organization (WTO), bringing along 400 pounds of smuggled Roquefort cheese. Bové's protests against American-style globalization and U.S. trade retaliation against European products resonated strongly with the French public and politicians of all stripes. Indeed, in a nearly unanimous show of national support, France is now taking the international lead in the outcry against globalization.
Some might find it paradoxical that one of Europe's most successful economies would attack globalization so forcefully. France's unfolding conversion to market liberalism is partly a conscious effort by policymakers and partly an unintended byproduct of European