In The News

World Bank Concerned Over India’s Economic Growth

March 31, 2006
World headlines celebrate India as a globalization success story, but the nation’s rapid growth could invite more headaches than benefits. The problem with India’s growth is its narrow focus, reports economist Priya Basu. A large part of the country’s GDP centers on information technology and software, while manufacturing and agriculture lag. Inadequate infrastructure also poses a challenge, with...

We Need Alexander Hamilton

Ernest C. Hollings March 30, 2006
Ernest Hollings, former senator of South Carolina, relies on early American history to compare the government and corporate approaches to trade. The second bill to pass through US Congress, in 1789, was a 50 percent tariff on all trade, which according to Hollings, allowed the US to develop its manufacturing and reduce dependence on Europe. Other presidents managed trade to nurture specific...

Is Globalization Stealing EU Jobs?

March 23, 2006
Increasingly, Europe finds itself struggling to answer the question of how it can simultaneously endorse free trade and preserve traditional industries and the jobs associated with them. In an age of inexpensive Asian imports, outsourcing, and bids for corporate takeovers from foreign entities, Europe is understandably worried about the effects of globalization on its job base. Europe’s...

Big Water Companies Quit Poor Countries

John Vidal March 22, 2006
Multinational water companies are fleeing risks in developing nations that desperately need the services, reports the UN second world water development report. The report was released today with the close of the World Water Forum, which aims to raise awareness on water issues and influence policy at the global level. Companies complain about not making profits in the poor countries and...

Ad Agencies Are Booking Passage to India

Geoffrey A. Fowler March 22, 2006
With American auto-insurance, credit cards, and medical x-rays, not to mention software development and IT needs, already managed by trained professionals in India, it was only a matter of time until Indian enterprise asserted itself on the culture of global consumerism. An article in The Wall Street Journal details the outsourcing potential India holds for ad and marketing agencies. Boasting a...

Australia at the Crossroads of Globalization

Ben Arnoldy March 21, 2006
Foreign investment has allowed the Australian economy to flourish – slashing unemployment, doubling the country’s wealth and reducing national debt. Once an isolated and lonely market, Australia has leveraged trade to its advantage, with mining and other industries taking advantage of the fast-growing Chinese economy. Australia citizens remain content with globalization, largely because...

Tit-for-Tat Protectionism

March 20, 2006
Western powers have lost their competitive edge in the global marketplace and are responding with a wave of protectionism. Excuses range from protecting “sensitive” industries to economic “patriotism,” but global investment is under attack. One reason could be that the West has lost a competitive edge, suggests this editorial from a Singapore newspaper. Internal friction among EU member nations...