In The News

Mysteries of Trade Diplomacy

Ernesto Zedillo November 3, 2003
A month before the World Trade Organization (WTO) trade talks at Cancún, the US joined the European Union in favoring "perpetual agricultural protectionism." Consequently, when trade negotiators met in September in Cancún, the joint US-EU proposal did not seek to eliminate export subsidies. Instead, it aimed to provide legal support for agricultural protectionism. Zedillo argues that...

China's Factories Aim to Fill the World's Garages

Keith Bradsher November 2, 2003
As China’s economy grows, its domestic automobile industry has come to exceed that of more developed neighbors, like South Korea. Increased car travel has caused auto fatalities and air pollution to skyrocket, but may also be eroding the Communist Party’s political and social controls, says this New York Times article. And as multinational auto manufacturers increase investment in China, the...

Foreign Investment Isn't Enough

Jeffrey Kentor October 31, 2003
Although neoliberals argue that foreign investment spurs growth in developing countries, critics say high amounts of foreign capital may in fact retard development in the long-term. In a new study, economic sociologists Jeffrey Kentor and Terry Boswell suggest that both positions are incorrect, or at least partially so. Foreign investment is not a foolproof stimulant of economic growth, but...

Europe, Asia Stimulate Hyundai Expansion

Kim Mi-hui October 30, 2003
Hyundai, the leading car manufacturing in Korea, is looking to expand its sales in the European and Asian markets. Hyundai's power in the American market ought to be supplemented by a strong presence in the growing European and Asian markets, company officials say. With this in mind, Hyundai is building a plant in Eastern Europe, with four more possible plants in the Czech Republic,...

Multinational Corporations: Pro or Con?

Gauri Bhatia October 29, 2003
India's love-hate relationship with multi-national corporations (MNCs) is more complicated than simple fear of big, faceless companies. MNCs bring jobs (but also "hire-and-fire" policies), consumer choice (that push traditional foods out of the market), and brand-name products (which is feared to lead to 'US-worship'). The recent environmental and health debacles in...

India's Call Centers Face Struggle to Keep Staff as Economy Revives

Ashok Bhattacharjee October 29, 2003
One the paradoxes of the call-center industry in India is that it requires English-speaking university graduates to answer questions from US customers but offers little in the way of advancement and intellectual stimulation. High turn-over rates are inevitable if the economy keeps expanding and thus offers more compelling employment options for well-educated Indians. Moreover, the rapid...

The West Will Miss Mahathir – And for Good Reason

Sunanda K. Datta-Ray October 28, 2003
Despite his penchant for remarks that incensed many foreign observers, Malaysia's retiring Prime Minister, Mahathir Mohamad, will be missed by Western governments, says this opinion article in Singapore's Straits Times. Governing for 22 years, Mahathir oversaw the development of Malaysia into one of the world's top 20 trading nations. Appreciating his success and considering...