In The News

Chinese Steelmakers Shiver, Indian Miners Catch Flu

Sumant Banerji October 30, 2008
Caution seeps throughout the global financial system, spreading crisis: In the West, homeowners struggle to pay mortgages, especially those of the high-rate, sub-prime variety; armed with less credit and confidence down, consumers in developed nations delay purchases of new cars and appliances. That has slowed steelmaking in China, which in turn has put a stop to purchases of iron ore from India...

Underdevelopment and Aid: Search for a Right Balance – Part II

Edward Friedman October 29, 2008
Africa remains one of the poorest aid recipients of the world, enduring challenges of high rates of disease, inadequate infrastructure and power sources, as well as corruption and poor governance. This YaleGlobal series examines diverse approaches on foreign economic aid emerging from the West and China. In the second article of a two-part series, Edward Friedman, political science professor at...

Globalization and the New Nationalism Collide

Philip Stephens October 29, 2008
The global financial crisis has exposed mutual interdependence and the need for multilateral rules. Leaders like Gordon Brown, Nicolas Sarkozy and George Bush plan international meetings, including leaders from emerging economies, and talk of the need for international regulations. Contradicting the internationalist spirit is nationalistic talk – opposition to foreign investment, immigration or...

Missing Links: After the Fall

Moisés Naím October 27, 2008
The attacks of 9/11 were a watershed event in the institutional makeup of US and global security institutions. The push for rejecting old, seemingly outdated frameworks, explains Foreign Policy editor Moisés Naím, helped lead to the Iraq War, in addition to "the Guantánamo Bay prison, the erosion of civil liberties, disdain for the Geneva Conventions, and the belittling of mechanisms...

Mortgage Prospects Dim for Illegal Immigrants

Miriam Jordan October 27, 2008
Undocumented immigrants who work hard and save money can no longer easily invest in US businesses and real estate. The US Internal Revenue Service accepts the payment of taxes from undocumented workers who use tax identification numbers. Even as the US Department of Homeland Security attempted to deport undocumented workers, other government agencies encouraged their tax payments and investments...

Bail Out the Poor

Ramzy Baroud October 24, 2008
Reduced food supplies around the globe would seem to be a more immediate crisis than plummeting prices of homes and stocks in the wealthiest nations of the world, notes Ramzy Baroud, editor of the Palestine Chronicle, writing for Al-Ahram Weekly. Baroud questions why governments cannot act in coordinated and speedy ways to avert huge global disasters including climate change, population growth in...

Do You Really Want This Job?

David Dapice October 24, 2008
An era of the US living beyond its means has come to an abrupt end, with a flailing stock market and credit freeze, mounting job losses, wages that do not keep pace with climbing housing prices, and the world’s costliest health care system that fails to cover all citizens. The next US president, to be decided in the November 4 election, will inherit a battered economy that restrains any US role...