In The News

'Wake Up and Face the Flat Earth' – Thomas L. Friedman

April 18, 2005
In his previous book, "The Lexus and the Olive Tree," New York Times foreign affairs columnist and author Thomas L. Friedman wrote about this shrinking world. Discussing his recent book, "The World Is Flat," with Nayan Chanda, editor of YaleGlobal Online, Friedman observes that not only has the world shrunk to a tiny size thanks to a communication revolution, it has even been...

Street Protests by Poor Push Bolivia to the Brink

Jo Tuckman March 15, 2005
Bolivia's already faltering economy stands on the cusp of a potentially crippling nation-wide strike. Organizing against economic exploitation at the hands of a minority elite of European descent, ethnically indigenous organizers have already blocked important highways for weeks, disrupting trade in some regions. Leaders of the movement claim that those in power have indiscriminately signed...

Two Fed Officials Offer Different but Upbeat Views on Debt

Edmund L. Andrews March 11, 2005
The soaring US deficit, estimated at over US$600 billion last year, has been a source of debate among economic analysts. According to The New York Times, the nation's total foreign debt equals more than one-fifth of the total economy. And while many observers fear the increasing indebtedness could eventually lead to global economic disaster, two senior officials at the US Federal Reserve...

Central Asia Is Corrupted by Cotton

Quentin Peel March 10, 2005
Though many developing countries are cheering a recent WTO ruling declaring US agricultural subsidies illegal, indigent farmers in Central Asia will never know the difference. Since the dismantling of the Soviet regime, the cotton industries in Uzbekistan, Turkmenistan, and Tajikistan have been hijacked by wealthy insiders. Working with international traders, middlemen sell expensive inputs to...

A Less Super Superpower

Jonathan Schell March 9, 2005
To some, the United States is history's only all-encompassing empire – from military to economics to culture – but according to philosopher Thomas Hobbes, power is only a "present means to obtain some future apparent good." In this sense, writes Jonathan Schell, distinguished fellow at the Yale Center for the Study of Globalization, America's superpower status seems less...

The Year of Africa's Economic Turnaround?

Amarnath Singh March 8, 2005
According to the International Monetary Fund (IMF), the economies of 30 African countries, as well as the continent as a whole, are projected to grow at a relatively high rate this year. However, Africa's nations still face many obstacles to becoming market miracles. Many remain paralyzed by poverty, AIDS, bad governance, high development and infrastructure costs, and social instability....

Leveraging the Dragon: Toward "An Africa That Can Say No"

Chris Alden March 1, 2005
China is extending its economic influence to every corner of the world, and natural-resource-rich Africa is no exception. Between 2000 and 2003, China-Africa trade volume increased from US$10 billion to US$18 billion. However, some fear that this bilateral relationship is not built on equitable terms. According to economist Chris Alden, Africa's trade deficit with China has increased...