In The News

Why Globalization Isn’t a Win-Win Situation

Stephen Roach July 12, 2006
A bilateral US-China trade relationship poses some dangers, according to global economist Stephen Roach. US policies encourage over-consumption and under-production in the global economy, resulting in a low saving rate and stagnating wages for middle-class workers. China’s policies focus on rapid over-production, a massive surplus of goods, a high savings rate, as well as wage inflation of...

Putin’s Anti-Globalization Strategy

George Schöpflin July 11, 2006
Russia is active in the global market, but President Vladimir Putin’s governance does not embrace all aspects of globalization. While not resurrecting the Sovietisms of yesterday’s Kremlin, Putin places no faith in the western political mandates of globalization that advocate for the power of the individual consumer over the control of the state. Putin endorses a strong central state, control...

Fortress Europe?

Patrick Sabatier July 11, 2006
Europe’s working-age population is aging and falling in numbers, and the continent needs workers to do jobs that Europeans either will not or cannot do. Meanwhile, half of Africa’s ever-growing population is under 17 years of age, with many living on less than US$1.20 a day. Such potent conditions are building an immigration crisis in the European Union, the physical evidence of which can be...

Imbalances Can’t Go on Forever

Ernesto Zedillo July 10, 2006
The current strength of the world economy is not enough to protect against the global financial crisis that could result if imbalances such as the US account deficit go unresolved. Economists supply a range of explanations as to what facilitates US debt. Expectations of higher income and productivity make saving seem less urgent, and the US remains an attractive place for other countries to...

Globalization’s Hidden Benefits

Richard W. Fisher July 4, 2006
Globalization has its roots in the logic of capitalism and will continue to advance, unless authorities make a concerted effort to reverse or halt it. While some critics malign globalization, increasing evidence suggests that its benefits go hand in hand with fair, conscientious policies. Globalization rewards decision-making that serves the interests of many types of people living in diverse...

Globalization and Muslim Identity Challenges and Prospects

Ahmed Ibrahim Abushouk July 3, 2006
Providing five definitions, author Ahmed Ibrahim Abushouk describes how most Muslims understand “globalization” as an ongoing and ancient concept that is in its most rapid stage of development. Using the theories of scholars such as Francis Fukuyama and Samuel P. Huntington, Abushouk chronicles historical clashes between what have been termed as “Western” and Muslim civilizations, as well as the...

Arcelor Deal With Mittal Creates New Steel Giant

Heather Timmons June 28, 2006
Despite vigorous protest, a global steel giant emerges, now that the controversial merger between India’s Mittal Steel and Luxembourg-based Arcelor is signed and sealed. Arcelor executives and even European government officials rejected the original Mittal offer with stinging insults that revealed the anxieties behind Europe’s protectionist trend. Difficult negotiations followed, leading to a bid...