In The News

Why Does One Country Draw More Investment Than Another?

David Dollar October 10, 2003
Why do some developing countries enjoy the highest growth rates in the world while others flounder? The World Bank set out to answer this question by comparing four developing nations - China, India, Pakistan, and Bangladesh - that have grown at strikingly different rates. Though these countries were equally under-developed at the beginning of the 1990s, China’s economy has since soared, while...

Sushi Rice, California's New Gold Rush

Kay Rentschler October 8, 2003
California is joining the ranks of world class rice producers. Though southern growers have long monopolized the U.S.’s domestic rice industry, California has become second only to Thailand in exports of premium rice. Sacramento Valley is one of only three microclimates in the world, including Japan and Australia, where the high-quality, small grain japonica rice flourishes. This rice...

Globalization Hurts USA

John Sweeney October 2, 2003
With the US economy in a slump, American labor leaders are calling for a change in US trade policy. John Sweeney, president of the AFL-CIO, the largest union in America, argues that globalization, at least as it relates to trade policy, has failed both working Americans and poor workers in developing countries. Because world trade agreements encourage American manufacturing companies to take...

Piracy Shaves 11% Off Music Sales

Tim Burt October 1, 2003
Internet file sharing and downloads, as well as illegal CD manufacturing, have caused a global decline in music sales. While this may strike fear in the hearts of shareholders of the five music majors – Universal, Sony, EMI, Warner, and BMG – all is not lost. DVD sales increased by 55% in the first half of 2003, offsetting the decline in CD revenues. Yet, a representative of the major music...

Globalization: Preserving the Benefits

Anne. O. Krueger September 25, 2003
Facing mounting criticism around the world, proponents of globalization have risen to its defense. IMF First Deputy Managing Director Anne Krueger argues for a renewed commitment to the principles of free trade that have fueled the last half-century’s ever-increasing economic expansion. Though she accepts the frequently valid misgivings of globalization’s critics, Krueger claims that its...

SARS Proved Health is Global Public Good

Michael Merson September 24, 2003
When SARS was first reported by China to the World Health Organization last February, the world was little prepared for the consequences that were to follow from that pneumonia-like disease. We are only now beginning to understand the toll the disease took on individuals as well as entire economies and societies. Dr. Michael Merson, dean of Yale University's School of Public Health, says...

Social Capital Key to Globalization

Leonard Wang September 24, 2003
The standoff at the most recent WTO meeting in Cancún has illuminated the plight of small farmers in developing countries, who struggle to compete with subsidized farmers in the US and Europe. Leonard Wang argues that the economic hardships these farmers face are only the beginning of a larger problem. When the world's economic powers transform developing countries, communities based on...