In The News

Summer of Setbacks

Ernesto Zedillo August 1, 2007
Summer of 2007 may well be remembered for a string of bad financial news: increasing numbers of homeowners in the US struggling to pay home mortgages, the decline of the US dollar, and climbing oil prices as conflict and tension linger in the Middle East. Yet the world economy flourishes despite shocks in foreign exchange and the debt markets. Ernesto Zedillo, director of Yale Center for the...

US Pledges $20 Billion in Arms to Middle East

Robin Wright July 30, 2007
The US announced plans to sell billions of dollars worth of weapons to Saudi Arabia, as well as to renew arms deals with Egypt, Israel and other allies. Goals behind the US plan include strengthening ties with allies and countering Iran’s growing influence in the region. However, some allies express concerns about more weapons flowing into the volatile region. Analysts point out that some...

China Cancels Environmental Report

Mitchell Landsberg July 27, 2007
Governments around the globe continue to prioritize the short-term gains of economic growth over the long-term costs of environmental destruction. But with mounting property damage and increasing reports of illnesses such as asthma, nations can’t help but be embarrassed about the costs associated with environmental neglect. In early July, China convinced the World Bank to alter parts of a report...

Globalization Study Moves Past Rhetoric

David Wessel July 27, 2007
Corporations have long insisted that globalization delivers prosperity. But a report commissioned by the Financial Services Forum, an association of CEOs of 20 major financial firms, admits that most benefits have gone to a select few. International operations increasingly account for most sales and business conducted by multinational firms, writes David Wessel for the Wall Street Journal. But...

In Africa, Mortgages Boost an Emerging Middle Class

Michael M. Phillips July 26, 2007
A growing middle class in Africa requires housing, but political and economic instability often contribute to shortages. The wealthy can pay cash for homes, but financing home purchases is difficult in a country where only 16 percent of the population holds salaried jobs. In Zambia, the Lilayi project tackles the problem with a suburban development, funded by public and private investors, that...

Interrupting a History of Tolerance – Part III

Fahad Nazer July 26, 2007
Any religion with global stature, such as Islam, must accept diversity in terms of culture, beliefs and practices. Tolerance for evolving beliefs demonstrates confidence. This YaleGlobal series explores how external forces encouraged intolerance, such as anti-Semitism, in the Middle East throughout the 19th and 20th centuries. However, Saudi Arabia, as the guardian of holy Islamic sites, had its...

Global Fishing Trade Depletes African Waters

John W. Miller July 23, 2007
Fish is a favorite food for the global palate. Since 1982, a United Nations treaty allowed countries to restrict fishing within 231 miles of their coasts. Poor African nations, such as Mauritania or Senegal, found a lucrative source for cash when they started selling fishing rights to wealthy European and Asian countries that had already depleted stocks in their own waters. Most of the African...