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Nobel Laureate Joseph Stiglitz spoke to a standing-room-only crowd this morning at a CGD event about his new book Making Globalization Work and his ideas for bringing stability to the international economic system.
President Chirac's proposal for a global air travel ticket tax to fund development appeared to be gaining momentum last week, with an announcement at the Clinton Global Initiative meeting in New York that four countries had joined the French-led initiative. One important question--how the money will be used--has been answered. Ninety percent will go to buy AIDS drugs. But plans for administering the funds are unlikely to persuade American taxpayers--or the U.S. government--to support the plan.
The BBC recently featured a story on the flow of skilled Indian emigrants and their offspring returning to India. An Indian official says: "In the 1960s when people left India the buzz word was 'brain-drain'. We see it now as 'brain-gain'."
After the breakdown of WTO Doha Round negotiations this summer, some economists -- including IIE’s Fred Bergsten - are advocating the pursuit of regional or preferential trade agreements (PTAs) to further free trade while the WTO is stalled.