In The News

Shock Absorber: US Retools Economy, Curbing Thirst for Oil

Justin Lahart August 18, 2008
As demand for oil surged and the world contended fleetingly with record-high prices, the US quickly adjusted: Companies develop new strategies to lower energy costs, and consumers turn to energy-efficient products. As the world’s largest user of energy products, the US can drive prices. “Whether this newfound energy austerity alters the fabric of American life in a lasting way will depend partly...

China’s Rumble With Globalization – Part II

Jonathan Fenby July 24, 2008
Despite a turbulent history, China has enjoyed two decades of growth and self-confidence, boosted by diplomatic and business engagement with the rest of the globe. But China has only entered “the first generation of China's globalization,” described by Jonathan Fenby in this second article of a two-part series. Now entering its “second generation of globalization,” the world’s most populous...

China’s Rumble With Globalization – Part I

Xu Sitao July 22, 2008
Conventional wisdom suggests that a booming economy can protect China from all economic woes. But this two-part series argues otherwise. China’s resistance to rising prices – despite the global pressure raising costs for food and fuel – has distorted economic policies and only delays the reckoning, argues economist Xu Sitao in the first article. “For a large developing economy with a unique...

What If the Candidates Pandered to Economists?

N. Gregory Mankiw July 21, 2008
Economists make up a tiny portion of the voting bloc and politicians rarely pander to them, perhaps because economists rarely speak with a single voice regarding any issue. However, economists do reach consensus on a few issues. For example, most economists support free trade, and argue that laws preventing free trade are nothing more than laws protecting special-interest groups from competition...

We Either Lead, Or We Get Left

Gordon Smith July 18, 2008
The G8 meetings may soon be in flux as new countries enter the talks or some are excluded. There are many possible options for future G8 meetings. Certain countries can be dropped to make room for others. Another possibility is that membership will be expanded to include the Outreach 5 countries- Brazil, China, India, Mexico and South Africa. Either way, Canada, as a leader in building...

What Should the White House Do About Globalization

William Holstein July 17, 2008
Businesses juggle the challenges and rewards of globalization every day – but the process of interaction remains largely a mystery. During the Cold War, globalization had ideological connotations, as it was often viewed as just westernization. Now the term is source of anger and confusion as its consequences are more uncertain. The next US president must define globalization for US citizens and...

Globalization Requires Safety Net, UN Says

Michael A. Fletcher July 10, 2008
As globalization continues to connect distant places of the globe together, many citizens, even those in wealthy nations, face the consequences of “severe economic swings.” Disturbances in the economy resulting from intense competition come in many forms, including food shortages, rising income inequality or steadily increasing fuel prices. According to separate reports from the United Nations...