In The News

Elites Loot Africa While Foreign Debt Mounts

James K. Boyce, Léonce Ndikumana February 27, 2012
Too often, borrowed monies are salted away from Africa’s most impoverished nations to offshore banks through inflated contracts or kickbacks. The complexities and bank-secrecy laws of the international finance system, combined with a lack of enforcement, assist such transfers, contend James K. Boyce and Léonce Ndikumana, authors of Africa’s Odious Debts: How Foreign Loans and Capital Flight Bled...

France Deals With Globalization Crisis – Part I

Pierre-Noel Giraud January 24, 2012
Multinational companies have shifted manufacturing operations and research and development from West to East, taking advantage of low wages and huge Asian markets poised for growth. On the global trade front, countries like France feel battered, and political leaders increasingly toy with protectionism. This YaleGlobal series offers ideas on how nations can optimize globalization’s benefits. In...

India Halts Wal-Mart Entry Amid Protests

Bibhudatta Pradhan, Andrew MacAskil December 8, 2011
Prime Minister Manmohan Singh’s government could not overcome fear and opposition that modern big-box stores from the west would overwhelm the country’s small family-run stores – and suspended plans to let foreign retailers open stores in India. The change in plans reflects an inability to boost foreign investment and end policy paralysis, reports an article from Bloomberg. “In an attempt to kick...

Chocolate-Fueled Growth

Kandeh K. Yumkella December 5, 2011
Poverty continues to linger in most Sub-Saharan countries, in large part due to the shortsighted nature of their export-based commodity economies. In an opinion essay for Project Syndicate, Kandeh Yumkella, director general of the UN Industrial Development Organization, suggests the time has come for these nations to upgrade their economies by focusing on ““value-added, agro-industrial...

Brazilian Paves Way for China’s Carmakers

Joe Leahy November 29, 2011
With a burgeoning middle class, the Brazilian automotive market has expanded rapidly, becoming the fourth largest in the world in 2010. In such a fast-growing market, Brazilian consumers have developed no brand loyalty and show no aversion to foreign models, explains Joe Leahy of the Financial Times. So taking advantage of a market opportunity, Chinese car manufacturers like JAC Motors are...

India Measures Itself Against a China That Doesn’t Notice

Vikas Bajaj September 6, 2011
India is in a race, comparing the pace of its economic development not with Western economic powers but with its neighbor, China, writes Vikas Bajaj for the New York Times. Comparisons on infrastructure, universities and armed forces are a constant feature in India's newspapers. But China does not share the same obsession, instead setting sights on surpassing the largest economy, that of the...

Foreign Nations Push Into Space as US Pulls Back

W.J. Hennigan, Ralph Vartabedian July 28, 2011
Amid economic woes and waning support for government investment in science, the US has suspended its human spaceflight program indefinitely. Former astronauts and NASA supporters are bitter about NASA losing its competitive edge. The pullback could give China, Russia, India, Iran and other nations – there are more than 50 national space programs in all – a chance to catch up. The US is counting...