Rich nations must not demonize us, say state funds
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DAVOS, Switzerland  - The United States and other countries must not demonize sovereign wealth funds as they come to the aid of troubled U.S. banks, some of the world's biggest state-run investors said on Thursday.
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WASHINGTON -- The United States threatened Wednesday to withhold $120 million from the world&#39;s premier AIDS-fighting fund unless other countries paid their share.
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China's PM says the country's rapid development must not come at the expense of social justice.
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Comment is free: Polly Toynbee: The Babylonian excesses of the rich have to be tackled fast if we are to stop our society being wrenched apart.
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The world economy is sound, although  financial markets may remain ragged for some time, and China  must let its currency rise faster to rebalance global growth,  finance officials from rich nations said on Friday.
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One can't allow in Europe that some countries say 'we're sufficiently rich to lower our taxes' -- to as low as zero in some cases -- but at the same time ask the countries of old Europe to pay structural funds ...
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The United States is challenging other countries to pay their share of the world&#39;s premier AIDS-fighting fund by the end of September or lose $120 million in US cash.
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Japanese Finance Minister Sadakazu  Tanigaki said on Friday countries should not rely just on  currencies to address global imbalances.
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The head of the International Monetary Fund urged the United States to limit its gaping budget deficit, which he said threatens the world economy.
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British Prime Minister Tony Blair urged rich nations on Thursday to keep their promises of financial aid to Africa, saying failure to do so could threaten the continent's progress towards prosperity and democracy.
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Investment funds controlled by foreign governments could trigger a protectionist backlash, a report warns.
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Although the economy as a whole is in its best shape in three decades, improved growth is threatened by disparities between wealthy nations and the developing world as well as rising oil prices.
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It's not easy being the leader of Europe's socialist "utopia," France. It takes a penchant for other people's money, a distinct anti-American attitude, and the ability to sleep on the run.
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WASHINGTON - The global economy should register its strongest growth in three decades in 2004 despite soaring oil prices, which are expected to restrain the US expansion a bit, the International Monetary Fund said yesterday.
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Many countries are more generous than the United States in the number of public holidays.
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Yesterday, former top US central banker Alan Greenspan, a very respected public official, said: "I'm saddened that it is politically inconvenient to acknowledge what everyone knows -- the Iraq war is largely about oil." Dale Bumpers, former US Senator from Arkansas, defended President Bill Clinton when he was on trial. He said, memorably: "H.L. Mencken said one time, 'When you hear somebody say, This is not about money, it's about money.' And when you hear somebody say, 'This is not about sex,' it's about sex." Bumpers might say today: When you hear somebody say the war in Iraq is not about oil, it's about oil. And Greenspan was absolutely right. Everyone knows that so many US trops and so much US money would not be deployed in Iraq if it weren't in the middle of the oil reserves of the world and if Iraq itself didn't have so much oil. It's ridiculous to argue otherwise. Yet, this admission is causing a major recalc in US political discourse. Had Greenspan said something so obviously true in 2003 or 2004, we might have avoided this national catastrophe. And I think this says more about us, and our desire to be misled, to have our lives simplified, to delegate our intellectual existence. Yes, our troops are there because of the oil. Don't doubt it. Postscript: The Bumpers speech is worth watching again, for its eloquence and simplicity. It wasn't so long ago that we rose to this level.
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After a decade of roaring growth, wealth is no longer something to hide in the once unwaveringly Communist nation.