In The News

An Ugly Side of Free Trade: Sweatshops in Jordan

Steven Greenhouse May 4, 2006
The story of abusive sweatshops is familiar, but still haunting. Reports suggest that as quickly as retailers and critics improve conditions in one location, new factories and abuses emerge in other nations. Jordan is the center of attention for impoverished people desperate for work and new criticism. A report from the National Labor Committee, based in the US, points out that workers are...

A Setback for Democracy

Dilip Hiro May 4, 2006
Before the US-led invasion of Iraq, states throughout the Middle East had been loosening some controls, particularly in the economic and communication spheres. Increasing internet use and lively broadcasts from Aljazeera satellite TV gradually encouraged economic and political debate. But increasing debate did not automatically lead to representative government or elections. As chaos reigns in...

Globalization Is a Story Still to Be Written

Sheldon W. Stahl May 3, 2006
Despite all the commentary on globalization, the ultimate question of whether the phenomenon enables progress or detracts from quality of life remains to be answered. Undeniably, globalization delivers tangible benefits, many visible in the US. A greater array of high-quality goods at lower prices is one benefit, while foreign direct investment can provide new employment opportunities. Such...

Time to Consider Pumping Money Into Infrastructure

Kenneth Rogoff May 3, 2006
Professor and economist Kenneth Rogoff argues that bouts of anxiety frequently accompany annual International Monetary Fund (IMF) meetings. Fear of any potential financial crisis is contagious and exerts paralysis even on world leaders. Many countries should stop piling up on safe investment such as US Treasury bills, Rogoff contends, and recognize that the global economy is actually enjoying a...

Microsoft's Gates Sees Vietnam Outsourcing Potential

Jason Folkmanis April 25, 2006
Vietnam’s economic growth, combined with a young population and high literacy rate, lures potential investors including the richest man in the world, Bill Gates. However, intellectual-property piracy also tends to run rampant in Vietnam and other nations with young impoverished populations. During a visit to the Communist country that eagerly seeks WTO membership, Gates suggested that Vietnam...

IMF Expands Role in Seeking to Reduce Trade Imbalances

Paul Blustein April 25, 2006
The International Monetary Fund has focused attention a new concern – massive global imbalances. Of particular concern are the burgeoning US budget deficit; China’s currency, which some claim is undervalued; and increasing investment in the energy-related infrastructure of oil-producing countries. The IMF was created 60 years ago to deflect international crisis. But some economists suggest that...

Disappearing Delphi

Rick Popely April 18, 2006
Delphi Corp., the major supplier of auto parts in the US market, plans to close or sell more than two thirds of its 29 US plants. If the plan is approved by bankruptcy court, the company would focus on high-end electronic technology – with the eight remaining US plants making products that require immediate installation. The sell-off could allow the company to end its union contracts with 17,000...