In The News

Beijing’s African Summit: Why China Is Wooing the Dark Continent

Eric S. Margolis November 17, 2006
China recently gave a grand welcome to 48 leaders from Africa and passed out $10 billion in aid. As a country that gets about one-third of its oil from Africa, China refuses to criticize human-rights violations that are common throughout the continent. In embracing diplomacy and resisting military action, China has built up an ample trade surplus and more than $1 trillion cash reserves. With such...

And Now for a Word About Globalization

Jon Talton November 9, 2006
Troubled by violence in Iraq, corruption in politics and uncertainty over the economy, US voters threw Republicans out of power in Congress. With voters increasingly concerned about a loss of manufacturing jobs, Democrats in Congress are expected to impose conditions on any trade agreements – and Republican critics will probably label any changes as “protectionist.” But journalist Jon Talton...

As Jobs Leave America's Shores... The New Face of Class War

Paul Craig Roberts October 30, 2006
A series of US presidents ignored the implications of corporations relocating jobs and factories to developing nations with low labor costs. Such off-shoring has enriched a small and select group while gradually destroying US industries, occupations and communities. “No country benefits from trading its professional jobs, such as engineering, for domestic service jobs,” claims journalist Paul...

Beijing Hosts Big Africa Summit as West Watches

Shai Oster October 25, 2006
China has made no secret of its interest in Africa. Now the nation will host a lavish summit for the leaders of 48 African nations. One assistant foreign minister fends off criticism about China’s motives, pointing out that the nation pursues mutual interests with Africa in a transparent and open manner. “China has nothing to hide,” said Zhai Jun. Western oil companies have expressed some...

Micro-credit Pioneer Gets Nobel for Peace

Amelia Gentleman October 13, 2006
The Grameen Bank of Bangladesh and Muhammad Yunus, its founder, have won the latest Nobel Peace Prize in recognition for their work using microcredit loans to lift millions of women out of poverty. In the past, banks in the developing world rarely lent to the poor, trapping farmers in a cycle of poverty and depriving economies of small businesses. Yunus realized that even poor borrowers could...

How to Fix the Global Economy

Joseph E. Stiglitz October 4, 2006
The world has many imbalances, including ballooning debt held by the US and China’s growing trade surplus. World leaders recognize the problems – but tend to place blame on policies from other countries. Economist Joseph Stiglitz suggests that the problems are interconnected in many ways, systemic in nature, and therefore require a global effort. He urges every country to examine its own...

The New Titans

October 4, 2006
Emerging economies drive global economic growth and thus influence global economic factors including average wages, inflation as well as population growth and migration. For example, emerging economies account for most of the growth in energy consumption and hold almost three quarters of foreign-exchange reserves. With China, India and former Soviet Union nations joining the world economy, the...