In The News

Snowplows for Guinea

Bartholomäus Grill March 10, 2008
One philosopher observes that a “taking” form of colonialism has transformed into a “giving” one. Donating funds to impoverished nations should not contribute to poverty, but that’s what has happened throughout Africa. Wealthy donors support projects that either cost additional funds or fail. “But the worst consequence of this aid is that it paralyzes self-initiative and encourages a true...

India’s Forgotten Farmers

Tarun Khanna March 7, 2008
Can India’s burgeoning economy lead to prosperity for all of its citizens, urban and rural alike? Thus far, India’s economic growth has been concentrated almost exclusively in urban centers, while rural areas remain largely mired in appalling poverty. Since 70 percent of India’s population lives in rural communities, the vast majority of Indians find themselves cut off from their nation’s...

It's the Dollar, Stupid

Judy Shelton March 6, 2008
As many in the US fret about a failing economy, other countries express specific concern about a falling dollar. The US dollar is the world’s key reserve currency and yet US leaders limit their focus on domestic policy, shrugging about global worries, explains author Judy Shelton, in an opinion essay for the Wall Street Journal. She offers a reminder that currency woes contributed to the Great...

China Comes to Town

Dena Rashed March 4, 2008
Chinese-made goods turn up all over the globe, including Egyptian fairs and markets, and some rival the local products both on quality and price. Consumers can now choose from a range of goods, including clothes, electronics, vehicles and even Egyptian flags. Chinese exports to Egypt grew by 50 percent last year, yet still lag behind US imports, the value of which were more than double China’s....

US Pushes Sovereign Funds to Open to Outside Scrutiny

Bob Davis March 3, 2008
Western banks and companies have recently relied on huge savings accounts run by Asian and Middle Eastern governments for some financial rescues. But governments in the US and Europe also know that constituents can get uncomfortable over bailouts or foreign ownership of major companies, particularly those linked to national security. So the US has suggested that two of the major funds – based in...

Globalization “A Blessing” for West Europe

Chris Giles February 29, 2008
Globalization – by way of trade and off-shoring jobs – can eliminate inefficiency and add to the total number of jobs, reports the European Economic Advisory Group, an academic research group organized by the Ifo Institute in Munich. “Although the gains from trade have the side-effect of increasing inequality, the group recommends that governments avoid policies that try to preserve employment...

Can the World Afford a Middle Class?

Moisés Naím February 28, 2008
Population adds pressure not only to the global environment, but also for societies and economies. Sustained growth in developing nations like China and India rapidly lifts people from poverty and the world must adjust, warns Moisés Naím, editor in chief of Foreign Policy. A growing middle class around the world is already increasing demand for meat, milk and other foods, thus increasing the...