In The News

June 12, 2013
Following several days of intense protests in Turkey, the country’s largest stock index, fell 10.47 percent and the lira dropped to a 16-month low. The protests were originally sparked by plans to transform an Istanbul park into a shopping center, but have since expanded into concerns over government policies with a religious bent. Foreign investment in the country had received a needed boost...
Yanzhong Huang June 6, 2013
In just three decades, China has been transformed from one of the world’s poorest nations to the world’s second largest economy. But rapid growth imposes long-term environmental, health and social costs, and other nations should be wary of emulating China’s model, cautions Yanzhong Huang, a senior fellow for global health at the Council on Foreign Relations. Smog choking Beijing and other cities...
Nayan Chanda May 24, 2013
Reliance on austerity measures could still push Europe into recession. But political leaders are responding to criticism from the International Monetary Fund and others – that austerity failed to deliver economic relief. An end to belt-tightening could improve consumer demand, increasing hiring and government revenues, but an aging population and large numbers of unemployed youth pose challenges...
David Stuckler, Sanjay Basu May 15, 2013
Suicide, long correlated with high unemployment rates, is on the rise in the wake of government austerity. “People looking for work are about twice as likely to end their lives as those who have jobs,” note David Stuckler and Sanjay Basu in an opinion essay for the New York Times. The two conducted research on health trends in countries enduring economic crisis and found that gradual, targeted...
Pan Kwan Yuk May 8, 2013
Chinese property developers are taking a lead from wealthy Chinese investors and state-owned Chinese banks by investing in US properties. Xinyuan Real Estate is planning a condominium development in a trendy Brooklyn neighborhood. “With Beijing redoubling its efforts to rein in housing prices – most recently unveiling plans for a tougher real estate capital gains tax in March – the pressure is...
Joergen Oerstroem Moeller May 2, 2013
Europe has suffered through a debt crisis, but governments are trimming, not abandoning, social welfare programs. Such modifications could become a model for economic globalization around the globe, suggests Joergen Oerstroem Moeller, a senior research fellow with the Institute of Southeast Asian Studies in Singapore. Europe is reducing budgets while preserving social protections for the future...
Rod Szasz April 25, 2013
Information technology, a global marketplace, wage differentials, plenty of skilled labor and a quest for profits have made outsourcing inevitable for banking and many other businesses. Workers lose jobs as consumers consistently choose low-cost electronics, apparel, news or banking services. “No country is unaffected by these changes,” writes Rod Szasz, trader and founder of an industrial...