In The News

Mixed Blessings of the Megacities

Deane Neubauer September 24, 2004
"For the first time in human history, more people live in cities than do not," writes globalization scholar Deane Neubauer. Complex migratory patterns have led to a paradox within the world's most populous urban areas: While some residents live lavishly, reaping the benefits of global commerce, others are forced into impoverished conditions reminiscent of 19th-century...

Looms of Doom

Sutapa Mukerjee September 22, 2004
The collapse of the specialized silk industry in parts of India results from years of mismanaged industry policies and an influx of Chinese silk - a cheaper, more durable alternative. Five years ago, the Indian government allowed the free import of Chinese crepe silks, reversing a protectionist ban that had only served to produce a demand for smuggled Chinese goods. The new policy has seen a...

In Some States, Foreign Trade Means Jobs

Timothy Aeppel September 21, 2004
When outsourcing started becoming a trend in America's many industries, Midwestern states, such as Ohio and Michigan, suffered the biggest job losses. Compared to other US regions, however, the Midwest experienced higher-than-average exports, which helped lessen the impact on employment. A Bank of America market strategist suggests that "the more integrated a state is with the global...

Budapest, the Next Bangalore? New EU Members Join the Outsourcing Race

Stefan Wagstyl September 21, 2004
American companies have become the world's leaders in outsourcing services to regions with low labor costs. Western European firms, previously slow to follow this global trend, have now begun outsourcing labor to central and eastern European countries, whose advantages include geographical proximity and language proficiency. Despite early optimism, a few obstacles lie ahead. First,...

Purity of Chinese Language Debated

September 13, 2004
Since China has opened its economic gates to the rest of the world, a wave of foreign words, ranging from yinqing (engine) to maidanglao (McDonalds) has flooded into its vernacular. While some linguists praise the development as evidence of Chinese vitality and openness, others fear the language is losing its purity. A solution, some propose, would be to enforce the National Language Law of the...

The Great Reverse – Part III

Anna Greenspan September 8, 2004
While headlines in the West bemoan job outsourcing to China and India, they ignore a far more profound economic shift: the growth of business partnerships between these two rising economies. In the final installment of our three-part series, "The Great Reverse," globalization scholar Anna Greenspan writes that leaders and entrepreneurs in both Asian countries are bridging political...

The Trek Abroad Quickens Pace

Anke Bryson September 3, 2004
The US is not the only country tackling the issue of jobs moving overseas; a recent study reports that German companies continue to shift operations to other countries. Despite labor agreements from Siemens and Daimler Chrysler to preserve some domestic operations, the industrial exodus may reach a peak this year. Further complicating matters, foreign investment in German industry has...