In The News

Corporations’ Flight to Low-Tax Countries Angers US

Farok J. Contractor April 12, 2016
US presidential candidates are responding to voters' ire over a complex tax code that shields the wealthiest from tax payments. Reports of corporate inversions – US firms relocating headquarters to take advantage of lower tax rates in countries like Ireland – highlight the negative consequences of globalization for voters already angry about entrenched income inequality, outsourcing and job...

Going Global? Study Tata Steel First

Rajrishi Singhal April 8, 2016
Tata Steel is among a number of Indian firms selling foreign assets to repay debt or discontinue less profitable ventures, and the trends may signal India’s troubles with globalization, suggests Rajrishi Singhal. “Economic reforms and competitive pressures forced many Indian companies to expand operations overseas through acquisitions with either (or a combination) of three objectives in mind –...

Globalization’s Toll: Tata Steel’s Expansion Dream

Dilip Hiro April 7, 2016
Executives in the mining and steel industries miscalculated by expecting rapid growth to continue in China. China's leaders instead shifted the direction of their economy to rely less on manufacturing and more on services. Slowed growth led to a downturn in demand for commodities like iron ore and coal along with overcapacity in the steel industry. That increased China's exports,...

China, Russia Seek to Profit as the EU Beacon of Democracy Goes Dim

Humphrey Hawksley April 5, 2016
“Not long ago the European Union stood as an unassailable beacon, a model for how trade and shared values could override historical hatreds and how a disparate collection of nations could work together under a single set of political values,” argues Humphrey Hawksley, BBC correspondent, in this YaleGlobal esssay. The EU is now vulnerable to the charms – and illusions – of authoritarian order....

Better Late Than Never

Nayan Chanda March 31, 2016
India has flung open the doors on foreign direct investment in its food retail sector. “Presenting the annual budget, the finance minister announced that his government would allow 100 per cent FDI in agricultural food processing, which covers the multi-brand retail of food products produced and manufactured in India,” writes Nayan Chanda, YaleGlobal’s founding editor, in his column for...

A Window of Opportunity for Reforms in Vietnam

Dien Luong February 4, 2016
Vietnam has a long history of conflict with its large neighbor to the north, China. Conservative and incumbent Nguyen Phu Trong bested populist Nguyen Tan Dung in a contest for chief of the Vietnamese Communist Party. “Reforms will continue, albeit at a slower pace, as would increasingly closer ties with the United States,” explains Vietnamese journalist and Fulbright scholar Dien Luong. Likewise...

How the Fed's Rate Hikes May Impact Asia

December 20, 2015
The US Federal Reserve responded to the 2007 financial crisis by reducing interest rates to stimulate spending and investment. Analysts since warned that a rate lift “could pose a challenge to a number of emerging market economies – particularly across Asia, a top exporter to the US – by pushing up bond yields, augmenting capital outflows and depreciating currencies,” reports Deutsche Welle. The...