In The News

Paulson Urges Restraint in Policy on China Trade

Steven R. Weisman September 11, 2007
US Treasury Secretary Henry Paulson warned that any legislation aimed at punishing China could aggravate jittery markets and increase volatility. “Unilateral actions aimed at another nation” – especially a nation that continues to fund hefty portions of US debt – could disrupt the global economy, he warns. Increasing numbers of US firms report logging more revenue from overseas sales than those...

India’s Third Liberation

John Elkington September 4, 2007
India has experienced liberation, first winning independence from the UK in 1947 while also enduring partition with the creation of Pakistan and Bangladesh, and then loosening state control of the economy in the 1990s to accept reform, privatization and globalization. But great poverty still lingers in the nation, calling for a third stage of liberation, suggests John Elkington writing for...

In Africa, Mortgages Boost an Emerging Middle Class

Michael M. Phillips July 26, 2007
A growing middle class in Africa requires housing, but political and economic instability often contribute to shortages. The wealthy can pay cash for homes, but financing home purchases is difficult in a country where only 16 percent of the population holds salaried jobs. In Zambia, the Lilayi project tackles the problem with a suburban development, funded by public and private investors, that...

Haves and Have-Nots of Globalization

William J. Holstein July 20, 2007
US companies that move part of their operations abroad continue to report big financial gains. Defense contractors like United Technologies, for example, report a spike in foreign sales and increased stock prices. Increasing numbers of multinational companies based in the US – including United Technologies, PepsiCo and Honeywell International – report that a majority of their sales are in foreign...

Britain and Russia to Minimize Economic Fallout

Mark Tran July 18, 2007
Great Britain expelled four Russian diplomats, after Russia refused to hand over a suspect, a former KGB agent, in the radioactive poisoning death of Alexander Litvinenko. Both countries claim that they do not want to harm overall relations. British investors and firms value the Russian market, and Russia contributes to international diplomatic efforts, for example, preventing nuclear ambitions...

Come One, Come All

Edward Glaeser July 12, 2007
Globalization has contributed to a decline in manufacturing cities like Detroit, forcing firms to confront foreign competitors. Other cities, like New York, reap benefits from globalization, argues Harvard professor Edward Glaeser. New York City thrives on producing ideas, and globalization spurs innovation. Innovation emerges in communities where people thrive on education, exchanging ideas and...

European Wine Wars: EU Vintners Turn Up Noses at Wine Reform

July 10, 2007
Europe is the world’s largest producer of wines. But in the EU, wine consumption is decreasing, even as inexpensive imports enter the market. About 15 percent of wine produced in the EU goes unconsumed, and the EU invests hundreds of millions of euros to turn unwanted wine into cheap cleaning products. The European Farm Commissioner proposes saving the EU money by paying farmers to destroy vines...