In The News

Donors Warn of Lost Foreign Expertise

Rungrawee C Pinyorat December 12, 2003
Believing it has 'outgrown' the need for international donors' assistance, the government of Thailand has announced that it will no longer accept technical assistance from foreign countries. Once a recipient of Official Development Assistance (ODA) from countries such as Australia, Thailand has refused grants and soft loans for some time. The rejection of the third form of ODA –...

China Eases Foreign Entry into Bank Sector

James Kynge December 1, 2003
Chinese premier Wen Jiabao and Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), announced a loosening of regulations on foreign banks and finance companies on Monday. These changes are largely assumed to be a response to US and EU accusations that China engages in unfair trading practices, which violate their commitment to the WTO. Wen Jiabao is traveling to Washington...

Antiglobalism's Jewish Problem

Mark Strauss November 12, 2003
Anti-Semitism is again on the rise, says Mark Strauss, a senior editor for Foreign Policy. Globalization is being pinned on the Jews – the traditional 'villain' of capitalism – and thus the Jewish people are being blamed for all perceived negative effects of increased market integration, Strauss writes. In the Middle East especially, where economies are stagnant everywhere but Israel,...

Unevenly Yoked

Norbert Mao November 3, 2003
In the race to attract global capital and spur economic growth, Africa seems to have missed the bandwagon. Norbert Mao, a member of the Ugandan Parliament and currently a Yale World Fellow, says that Africa's dismal economic situation is a result of both inept political leadership and unfair policies of the developed world. Agricultural subsidies, patent restrictions, and a host of trade...

Putin Appeals for Calm as Russian Bourses Dive

October 27, 2003
Mikhail Khodorkovsky, the head of Russia's largest oil and gas company, Yukos, was arrested over the weekend for corruption and tax evasion. In response, Russia's stock market, the MICEX, dove 12% on Monday, reflecting the jitters felt by Russia's business leaders. The development of Russia into a privatized, capitalist economy after the fall of the Soviet Union in 1991 has long...

Malaysia Gains from HSBC Jobs Shift

K.P. Lee October 18, 2003
HSBC is the latest in a series of financial institutions that are moving certain functions out of the US and UK and into areas that provide cheaper labor. Malaysia and India have become some of the most attractive relocation sites, given the preponderance of English speakers. Banks, as well as other businesses, are eager to cut costs by moving "call center" and "backroom...

We Have to Make Globalization Work for All

Joseph Stiglitz October 17, 2003
Why has globalization gained such a bad reputation? It was once the phenomenon supposed to 'save' the world system and provide a framework for global equality and integration. So is the concept inherently flawed, or does the fault lie with the implementation of policies? Nobel Laureate Joseph Stiglitz asks these questions and reflects on what went wrong with globalization during the...