In The News

A Greek Tragedy Haunts the World – Part I

Jonathan Fenby March 1, 2010
The unfolding tragedy in Greece again demonstrates the interdependence of our integrated world – affecting countries near and far. In part I of this two part series, author Jonathan Fenby shows how Greece’s sorry state of affairs has thrown the European project into question. Indeed, Greece’s faltering has exposed some of the fundamental flaws in the EU’s conception. It could never be a true...

The Currency Albatross

Nayan Chanda March 1, 2010
Long-term political stability in China and the political future of the Obama administration both rest on resolving the economic crisis. But these goals may be at odds with one another as seen in the ongoing debate over China's currency, which is estimated to be under-valued by 25-40 percent. The legitimacy of the Chinese Communist Party is in part predicated on economic prosperity, something...

The World Economy Has No Easy Way Out Of the Mire

Martin Wolf February 24, 2010
Central banks around the world helped to avert disaster through significant monetary stimulus in the aftermath of the financial meltdown. This stimulus has also aided the rebound in financial markets since the lows of March 2009. But, Martin Wolf rightly asks, what will happen once that stimulus is removed? Or, in other words, will the exit strategy be successful? For Wolf, success would be a...

Beer Globalization in Latin America

Benjamin Dangl February 24, 2010
The global beer industry is experiencing a round of consolidation, including the recent takeover of Mexican brewer FEMSA by the Dutch Heineken. The growing concentration of brewing might in the hands of a few companies is a natural result of corporate globalization – today four companies control half of the world’s beer production globally. But this trend could also lead to “homogenization of...

New World Order Without a Hegemon: Compete and Cooperate

Dilip Hiro February 24, 2010
The US, China, EU, Russia, India, and Brazil are emerging as the key players whose relationships will define the future of global relations, according to author Dilip Hiro. While the era of unrivalled American supremacy is over, a new pattern of relations is emerging. Rather than being fixed alliances, however, these relationships are fluid combinations of “cooperation and competition.” The US...

Steelworkers Say Reactors Overseas Will Cost Jobs

Matthew L. Wald and Keith Bradsher February 23, 2010
President Obama is pushing nuclear power as a new source of energy and as a way to create jobs for Americans, offering loan guarantees to make it happen. Now, however, labor unions are protesting the move because they say that much of the material for new reactors will come from overseas, reducing the potential for US job growth. The trouble is that since the Three Mile Island reactor accident in...

Connecting Across Oceans

Nayan Chanda February 18, 2010
The global economic crisis inspired cries of globalization’s demise, but economic data from the past two years paints a more complex picture. Developed countries generally suffered through negative GDP growth, while developing countries largely stayed in positive territory. Trade collapsed, with shipping indices sinking to surprising lows, but has since recovered. And total international travel,...