In The News

Economic Paradox of Ghana's Poverty

Michael Weainstein November 9, 2003
Western leaders have long claimed that poor countries can lift their citizens out of poverty simply by shifting to competitive markets. Yet in sub-Saharan Africa, countries that have opened up to competition remain hopelessly mired in poverty. And this lack pf progress cannot always be blamed on corrupt domestic institutions or civil strife. Take Ghana – a relatively corruption-free, stable...

Healthy Dose of Capitalism?

Fatemah Farag November 7, 2003
Occupational hazards are a global problem. The International Labor Organization estimates that two million women and men die as a result of occupational accidents and work-related diseases each year, eliminating four percent of the world's GDP. This weekend, a UN-led conference in Germany brought together non-governmental organizations, international businesses, and labor leaders to discuss...

Grievances That Can Bring Globalization to Grief

Larry Rohter November 5, 2003
Ten years ago, an American company won a bid to extract lithium from Bolivia's rich deposits. Protests from the impoverished Indian majority – who feared that the deal would only make the rich richer and leave most Bolivians worse off – helped stop the deal. Now, Bolivians may be regretting that decision. Such a deal would have forced greater investment in the nation and perhaps have...

Yukos Names Kukes as New CEO

Arkady Ostrovsky November 4, 2003
An American citizen, Simon Kukes, was named the new chief CEO of the Russian oil company, Yukos, after his predecessor was arrested on charges of tax evasion, embezzlement, and theft. When the Yukos scandal first broke, foreign investors became wary that Russia would begin rolling back privatization measures made during the 1990s. To ease such concerns, the Kremlin has reiterated its commitment...

A Winter of Discontent?

Robert A. Kapp November 3, 2003
The recent trade and currency disputes between the United States and China have given some in Washington the impression that a crisis is developing in US-China relations. The entire US Congress seems to be raging about China's unfair trade policies and manipulation of its currency. Robert A. Kapp, the President of the US-China Business Council, says here that the current stable US-China...

China's Factories Aim to Fill the World's Garages

Keith Bradsher November 2, 2003
As China’s economy grows, its domestic automobile industry has come to exceed that of more developed neighbors, like South Korea. Increased car travel has caused auto fatalities and air pollution to skyrocket, but may also be eroding the Communist Party’s political and social controls, says this New York Times article. And as multinational auto manufacturers increase investment in China, the...

Foreign Investment Isn't Enough

Jeffrey Kentor October 31, 2003
Although neoliberals argue that foreign investment spurs growth in developing countries, critics say high amounts of foreign capital may in fact retard development in the long-term. In a new study, economic sociologists Jeffrey Kentor and Terry Boswell suggest that both positions are incorrect, or at least partially so. Foreign investment is not a foolproof stimulant of economic growth, but...