In The News

Economic Patriotism – Blind Alley in a Globalized World?

Patricia Wruuck August 8, 2006
The successful takeover of Europe’s biggest steel company, Arcelor, by Mittal Steel, whose owner was born in India, is a setback for economic nationalists and protectionists. Shareholders, who saw monetary and strategic worth in the Mittal-Arcelor merger, bucked a board of directors that resented any hint of foreign control. Such resistance is not limited to non-European partners. Cross-border...

A New Brand of Power

Sebastian Mallaby August 8, 2006
Some product brands, from Apple’s iPods to Nike Air Force Ones, attract fast, global popularity. For many modern products, corporate value centers on patents, skill and brands – and yet firms have less control over brand popularity than ever before. Consumers tend to rely on word of mouth and blogs more than advertising. Customer opinions matter, according to columnist Sebastian Mallaby, and...

Heed the Voice of Asia in Peace Talks

Michael Vatikiotis August 7, 2006
Israel’s invasion of Lebanon, combined with the unwillingness of Washington and European capitals to step in to stop the carnage, has reduced the forces of moderation in Southeast Asia, creating another potential haven for extremist activity. With images of the destruction caused by Israel’s campaign against Hezbollah broadcast throughout these largely Muslim countries, groups such as “Jihad...

Commerce Department Report on Offshore Outsourcing Finally Sees the Light of Day

Richard McCormack August 4, 2006
The US Commerce Department released its 336-page report on offshore outsourcing of labor in the information-technology job sector, after holding on to the analysis for two years. The report provides a grim projection for future employment prospects of IT workers in the US. Rising pressure for low costs from customers, consultants and financial markets has led to outsourcing of high-level...

France's Mysterious Embrace of Blogs

Thomas Crampton August 4, 2006
In 18th century France, women hosted small parties in their salons, for gossip and politics. Eager for debate, modern-day French citizens have turned to blogs. Analysts characterize French blogs as lengthy, negative, with opinions that do not sway. The technology is so popular that a blog has become essential for any French politician. For example, some analysts credit bloggers for French...

Wal-Mart Finds That Its Formula Doesn’t Fit Every Culture

Mark Landler August 3, 2006
Wal-Mart executives eventually realized that requiring employees to smile at customers or participate in the “morning Wal-Mart chant” at its German stores did not mesh well with either the staid employees or customers. Differences in corporate and national culture, combined with competition from local discount vendors, hampered success of the giant US retailer, which left Germany after eight...

Korea Greets New Era of Multiculturalism

Shin Hae-in August 3, 2006
In a world of quick travel and increasing flows of people in and out of countries, South Korea is reflecting on its prejudices toward foreigners and Korean children of mixed race. A nation that has endured centuries of invasions from China and Japan, South Korea has long had a national goal of maintaining a uniquely Korean bloodline. Some citizens worry that recent government revisions to...