Roger C. Altman

Nota: Este archivo abarca los artículos publicados por el autor desde el 1 de mayo de 2009. Para fechas anteriores realice una búsqueda entrecomillando su nombre.

After five years, American-led negotiations over the Trans-Pacific Partnership, a trade liberalization agreement with 11 other countries that collectively account for 40 percent of the world’s economy, are nearly complete. The next step is for Congress to allow for the same legislative process — an up-or-down vote on the deal — that it applied to recent trade pacts, including the North American Free Trade Agreement of 1993 and the United States-South Korea free trade agreement of 2011.

But the congressional outlook for this approach — called Trade Promotion Authority, or fast-track negotiating authority, because it does not allow amendments or filibustering — has dimmed.…  Seguir leyendo »

Europe is on the verge of financial chaos. Global capital markets, now the most powerful force on earth, are rapidly losing confidence in the financial coherence of the 17-nation euro zone. A market implosion there, like that triggered by Lehman Brothers collapse in 2008, may not be far off. Not only would that dismantle the euro zone, but it could also usher in another global economic slump: in effect, a second leg of the Great Recession, analogous to that of 1937.

This risk is evident in the structure of global interest rates. At one level, U.S. Treasury bonds are now carrying the lowest yields in history, as gigantic sums of money seek a safe haven from this crisis.…  Seguir leyendo »