In The News

Globalization and the Political Future of Nigeria

Sam Ejike Okoye October 15, 2004
Although some may doubt the impact of globalization on the African continent, the recent surge of world oil prices to their highest recorded levels, triggered by the threat of strike in Nigeria may dispel the myth. If levels remain above US$50 per barrel through the coming winter, a worldwide recession is not out of the question, the article says. Today's economic, scientific, environmental...

Disney Is Tailoring New Park to Fit Hong Kong Sensitivities

Keith Bradsher October 13, 2004
Hong Kong's version of Disneyland, slated to open in the next year, will contain many cultural aspects created specifically with Chinese visitors in mind. The management is taking pains to incorporate indigenous interests into what is generally recognized as an American enterprise: selling local foods, repositioning the park for feng shui agreement, and operating in English, Mandarin, and...

Central Asia: Corruption, Lack of Vision Seen as Stunting Economic Growth

Andrew Tully October 11, 2004
Since gaining independence from the Soviet Union in the early 1990s, Central Asia has remained solidly in the hinterland of economic globalization. The region has seen little of the boom experienced by its behemoth neighbors India and China. A recent forum, "Central Asia in the Global Economy," brought together government officials and representatives of the business world to discuss...

Buy Now, Profit Later

Elise Kissling October 8, 2004
Over the past eight years, German companies have invested more than US$9 billion in China, the world's largest recipient of foreign direct investment. Unfortunately, only six of the 23 German companies that responded to a Deutsche Bank survey claimed to be earning money in China. Last year, for instance, Volkswagen manufactured more cars in China than in Germany, but failed to turn a profit...

Koizumi's Change-Up

William Antholis October 8, 2004
Japan has been the biggest laggard among the developed countries, and given the size of its economy, its ten-year stagnation has been a drag for the whole world. Power of the entrenched bureaucracy and vested interest of the political bosses have held back attempts to reform the economy. But change may be coming. According to the Brookings Institution’s William Antholis, recent high-level...

The New Yellow Peril

Oliver Cattaneo October 6, 2004
Responding to public fears about job loss, the French government recently announced new measures to prevent the outsourcing of domestic production. Opponents of offshoring, however, overstate its harmful effects, argues French trade specialist Olivier Cattaneo. For instance, in the United States – where outsourcing has become a potent political issue – the trade surplus in information services...

Freeing India's Textile Industry

Asutosh Padhi October 5, 2004
When the Arrangement on Textiles and Clothing (ATC) expires on January 1, 2005, the international textile industry will be entering a free-for-all phase. The ATC’s quota restrictions on textile exports have so far safeguarded poor countries such as Bangladesh and Cambodia, and its abolition leaves them to the mercy of the free global market. India, with its copious human and natural resources,...