Word: bergsten
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...Brussels. That could make it hard for him to persuade Chirac and other leaders that a further liberalization of trade is in their interest. "There's a much higher risk of only a modest outcome to the Doha round," because of antiglobalization fears in Europe, says C. Fred Bergsten, director of the Washington-based Institute for International Economics. Others are more pessimistic. Kenneth S. Rogoff, a former research director at the International Monetary Fund, says: "One has to be very concerned that we will see total trade paralysis over the next five years." Avoiding such a timid outcome in Hong...
...time deposits, beginning April 1. The regulation is a warning that Tokyo cannot back the status quo forever. Still, as bankruptcies and layoffs increase, it's harder to introduce tough reform measures. "They are writing off loans, but the bad loans are growing faster," says C. Fred Bergsten, director of the Institute for International Economics in Washington. "That feeds a lack of confidence that brings more nonperforming loans--and that is a death spiral...
Longtime assistant coach Eva Bergsten has taken over coaching duties for Hartford this season following the departure of Mark Krikorian to lead the WUSA’s Philadelpia Charge last spring...
...Bergsten's view, however, another force will also press the dollar down. The U.S. current-xaccount deficit is headed for a record $300 billion in 1999. It would be even worse if gains in financial transactions and services such as advertising and insurance were not offseting part of the gargantuan deficit in exchange of goods. The trade deficit, or excess of merchandise imports over exports, will be roughly $350 billion. So the U.S. is spilling too many dollars into currency markets for the greenback to maintain its present value against most other moneys, euro or no euro...
...slowdown that does not turn into a recession, Bergsten warns, is still likely to lead to "a very significant increase in U.S. trade protection." Even a modest slowing of output and rise in unemployment, he fears, will be widely blamed on cheap imports. The Clinton Administration may give in to protectionism to please the AFL-CIO, which it is " beholden to" for the Democratic successes in the November elections. Hormats voiced fears that protection is all too likely to win support from the Republican right, now a stronghold of economic nationalism, as well as the Democratic left, creating a strange...