In The News

Is This the End of Globalization?

David Francis March 4, 2013
Investors are less intent on pursuing cross-border profits, investing in overseas endeavors. A McKinsey Global Institute report measured money in the global financial system before and after the 2007-2008 financial crisis: In 2007, $11.8 trillion in investments and loans crossed borders; the figure for 2012 is $5 trillion. “McKinsey hedges the report by saying that some of the capital removed...

The Europeanization of America

Mark Leonard February 26, 2013
The United States and Europe each are coping with heavy debt and the prospect of decline, argues Mark Leonard, co-founder and director of the European Council for Foreign Relations. Polarized electorates and clumsy austerity programs add to uncertainty and compound economic woes. Leonard suggests that the Obama administration admires the Germany economy and pursues policies of “energy...

The Route of the Problem

Nayan Chanda February 25, 2013
The pace of growth for India is slowing. With a young workforce and high technological skills, the country shows promise. But it must “clean up the governmental morass and think holistically about what needs to be done to take advantage of its global connections and promote sustainable growth,” argues Nayan Chanda in his column for Businessworld. Strong growth and prosperity require reliable...

Immigration Reform and the American Worker

James Surowiecki February 25, 2013
Misunderstandings and myths do not produce good policy. Many Americans oppose immigration reform because they’re convinced that more immigrants eliminate jobs and hurt the US economy, especially during the recession. Instead, “a host of studies have found that immigration has actually boosted wages for native-born American workers as a whole, and that while immigration has had a negative impact...

The Rise of the Robots

Robert Skidelsky February 21, 2013
Automation and technology, along with a do-it-yourself culture, contribute to greater productivity and fewer jobs, with some developments more disruptive for labor and select industries than others. Countries, particularly the most developed, must consider the prospect of running out of jobs, and not just for the low-skilled, writes political economist Robert Skidelsky for Project Syndicate....

Vietnam’s Economy Needs Reoriented Foreign Policy

David Brown February 20, 2013
After the Vietnam War ended in 1975, the country’s Communist Party embraced a Soviet-style economic model. By the mid-1980s, the country’s elites could not help but compare results of Soviet and Chinese economic models and undertook Chinese-style reforms to enjoy globalization’s benefits. The surge of foreign investment capital since has led to reckless credit expansion and inflation. Businesses...

Will China Ever Be No. 1?

Graham Allison, Robert D. Blackwill February 20, 2013
Speculating on economic growth of nations has become a sporting event – with diplomats, policymakers and investors “placing their bets,” suggest Graham Allison and Robert Blackwill in a Foreign Policy essay, introducing the thesis of their book about Lee Kuan Yew of Singapore. As prime minister from 1959 to 1990, Lee monitored and advised Chinese and US leaders. Lee contends that China’s rapid...