In The News

Stopping the Vicious Cycle

Nayan Chanda August 29, 2011
In the face of economic crisis and massive imbalances, the leaders of the world’s large economies, the Group of 20 or G-20, are paralyzed. “The weakness of western leaders is compounded by an abject absence of ideas about how to rescue the world economy,” writes Nayan Chanda, YaleGlobal’s editor, in his regular column for Businessworld. “Equally striking has been the silence of the BRICS – Brazil...

The Real Foreign Hand Backing Anna

Rajiv Kumar August 25, 2011
One man’s protest against corruption has caught India’s attention, ignited by trends of mass protests abroad, argues Rajiv Kumar in an opinion essay for the Hindu BusinessLine: With fewer opportunities in the West, investors flock toward emerging economies like India, bringing along new demands for transparency and accountability; fewer escape routes exist for India’s elite to flee corruption;...

After Gaddafi, Let's Hope for the Best in Libya

Brian Whitaker August 23, 2011
After six months of fighting, Libyan rebels rallied for an enthusiastic entry into Tripoli. The images were reminiscent of early victories in Tunisia, Egypt and also Iraq, as rebels and other Libyans gathered in Green Square, destroying symbols of the previous regime. A few holdouts from the Gaddafi regime resist, and the task of rebuilding is daunting, but the Guardian’s Brian Whitaker suggests...

Anna Hazare's Fight for Change Has Inspired Millions of Indians

Chetan Bhagat August 19, 2011
Millions of Indians are questioning power’s corrupting influence, after Anna Hazare, 74, launched a hunger strike this week. His demand: parliamentary consideration of a bill to establish an ombudsman’s office for investigating and punishing corrupt politicians and government employees. “Archaic laws, designed for autocratic, colonial rulers with no accountability (yes, blame the British for...

The Eurozone Fights for Survival – Part II

Joergen Oerstroem Moeller August 18, 2011
Lenders are in the habit of putting profits over borrowers’ interests. Many players in the financial markets – the credit markets, banks, economists and analysts – took little notice as small eurozone economies like Greece amassed huge debts based on fiscal records of strong partners like Germany. Massive lending led to crisis, and an abrupt halt, hiking interest rates, aggravated the...

The World Consequences of US Decline

Immanuel Wallerstein August 16, 2011
For the past decade, analysts around the globe have suggested that the United States – its economy, innovations, political will and global influence – are in decline, and many US citizens agree, especially since the nation’s AAA credit rating was reduced by Standard & Poor’s. US citizens aren’t handling the decline well, and lash out at their political system and government officials. Other...

Let Down by Politics

Nayan Chanda August 15, 2011
In reducing the AAA credit rating for the US, Standard & Poor’s offered a forward-looking opinion on the risk of the nation meeting its obligations in full and on time. Rather than shun US treasury notes, investors sold off equities, putting the US stock markets into a nosedive. The reaction reflects deep skepticism, not about the quality of the debt, explains YaleGlobal Editor Nayan Chanda,...