In The News

Managing Globalization

Daniel Altman September 21, 2007
The global impact of the US subprime mortgage crisis prompts some commentators to question if globalization is a stabilizing or destabilizing force on world markets. Increased interconnectedness has certainly improved the flow of money and credit, contributing to the creation of great wealth, but also magnifies the effects when investors overuse a risky tool, like bundles of high-risk, high-...

Disowned by Mentor, Bin Laden Seeks New Pastures

Fawaz A. Gerges September 19, 2007
Just before the sixth anniversary of the 9/11 attacks, Osama bin Laden released a new videotape, in which he adopts a neo-Marxist posture, suggesting that mortgage debt, global warming, growing wage inequality and other ills are a result of greed from multinational corporations and politics of the West. “The capitalist system seeks to turn the entire world into a fiefdom of the major corporations...

Globalization Was Good Then, Not Now

Mark Thirlwell September 17, 2007
Even as economists fret about sustaining global economic integration and politicians in the wealthiest nations make opposition to globalization a winning campaign theme, the phenomenon continues to connect the world. Such a dichotomy may not continue for long, warns economist Mark Thirlwell. Growing alarm in the developed nations stems from the emergence of powerful competitors in the developing...

Sarkozy Urges French to Play “the Game of Globalization”

Katrin Bennhold September 13, 2007
French President Nicolas Sarkozy urges his nation to adopt business-friendly policies, while continuing to defend its values worldwide. To become more globally competitive, France may have to adjust labor polices that restrict employers from firing unproductive workers and require generous benefits, including long vacations and a 35-hour work week. Still, he couched his comments by noting that a...

Globalization and Cultural Diversity

Michael Lynton September 12, 2007
Those who oppose globalization are especially sensitive about loss of culture. But the American film industry does not contribute to the homogenization or Americanization of culture, argues Michael Lynton, chairman and CEO of Sony Pictures Entertainment. “Instead of creating a single, boring global village, the forces of globalization are actually encouraging the proliferation of cultural...

Blue Skies for Globalization?

Richard Aboulafia September 4, 2007
At times, global trade seems to make more enemies than friends. Politicians tend to hear from constituents who fear outsourcing and job cuts rather than workers who benefit from foreign investment and trade. International teamwork is essential for complex fields like the aerospace industry, argues Richard Aboulafia in the Star-Telegram. US air carriers account for less than 10 percent of all...

The Tale of Globalization’s Exiles

Richard Lapper August 30, 2007
Media and government reports focus on hedge funds and other mechanisms of finance that move money around the globe. But individuals also shift funds, including small amounts sent in envelopes or by wire, from immigrant workers in wealthy nations to poor relatives back home. For some poor nations, the total of such remittances outweigh foreign aid or revenues earned from leading agricultural...