In The News

American Investor Protection is Protectionist

Benn Steil January 15, 2003
The world of finance is often thought to be the most truly globalized economic sector. But Benn Steil, André Meyer senior fellow in international economics at the Council on Foreign Relations, reminds us in this article that even such a free-market trumpeter as the US is still quite protectionist when it comes to its own financial markets. Despite the failure of Enron and the subsequent...

Europe at a Snail's Pace

January 15, 2003
The European Union's experiment in supra-national government continues to face challenges from divergent national-level political and economic interests. This article in the UK's Economist says that yesterday's meeting between France's president and Germany's chancellor "sealed agreement between the two leaders on how the newly enlarged Union… will be governed....

A Discussion On Ethical Globalization

January 15, 2003
Is globalization unethical? That seems to be the view of many critics of globalization. Former President of Ireland and former United Nations High Commissioner for Human Rights Mary Robinson is taking an initiative to address that concern. The Ethical Globalization Initiative that she directs seeks to integrate human rights norms and standards into a more ethical globalization process and to...

Investment Outlook Gloomy

January 13, 2003
Foreign investment stimulated a virtual goldrush in many Southeast Asian nations during the 1990s. But the crisis that struck the region in 1997 and 1998 led to large net outflows of money from many countries, including Indonesia. This editorial in Indonesia's Jakarta Post says that the largest Muslim nation in the world is still struggling to employ and feed its people 4 years after the...

Koizumi Visits Energy-Rich Russian Region, Seeking Oil

James Brooke January 13, 2003
Search for a secure source of energy has been a major concern for industry-rich, resource-poor Japan. It is a concern that has been further heightened by growing insecurity in the world and rising tension in the Middle East -- its principal energy source. A new geopolitical concern about competition from a rising China has now been added to Japan’s foreign policy calculations. In a diplomatic...

BMW, Mercedes, Porsche Upstage Motown Makes

Heidi Sylvester January 10, 2003
Globalization has resulted in the creation of multinational corporations whose activities span the globe. Now, even as Germany experiences an economic downturn, with the demand for new automobiles declining, German automakers have been able to enjoy profits thanks to the increasing demand for their products in the United States. The companies predict continued growth in the demand for German...

Illegal Migration in the 21st Century

Bertil Lintner January 10, 2003
Globalization is often described in terms of increased 'flows' or 'movements' of money, ideas, or goods. But the movement of people across national borders remains highly regulated and a point of major contention between many countries. Governments of rich industrialized nations spend billions of dollars each year to control inflows of poorer people seeking greater economic...