In The News

Fueling a Crisis in Nigeria

Olly Owen October 25, 2004
Under a package of International Monetary Fund-endorsed reforms, the Nigerian government hopes to eliminate domestic fuel subsidies. Yet low gas prices are currently the only economic benefit for cash-strapped Nigerians, who see price increases as another kickback to local elites and foreign oil companies. The proposed reforms have caused domestic turbulence; unions launched a series of...

Globalization: Custom-Made in China

Fan Gang October 15, 2004
The rapid pace of China’s economic growth has been remarkable, but the country’s success did not magically result from opening to the world, writes economist Fan Gang. China’s experience shows that countries must plot their own individualized paths towards market liberalization. Early in its development, China protected its infant industries from the rigors of global competition – thus allowing...

Strike Threatens Nigeria's Oil Production

Rory Carroll October 14, 2004
Oil production is at the center of current political controversy in Nigeria: The government has become rich from oil sales, while the majority of the population remains destitute. Trade unions imposed an oil workers' strike over the past three days, demanding that the government maintain domestic oil subsidies. Though oil production has continued during the strike, the major oil workers...

"Copywood" No Longer

Christina Klein October 11, 2004
Shaking Hollywood's previous stranglehold, the South Korean film industry has evolved to become one of the world's most successful examples of domestic cinema. Media scholar Christina Klein charts the rise of Korean film as a unique response to specific political, economic, and social circumstances. Boasting qualities that are at once evocative of Western styles and yet unique to...

Buy Now, Profit Later

Elise Kissling October 8, 2004
Over the past eight years, German companies have invested more than US$9 billion in China, the world's largest recipient of foreign direct investment. Unfortunately, only six of the 23 German companies that responded to a Deutsche Bank survey claimed to be earning money in China. Last year, for instance, Volkswagen manufactured more cars in China than in Germany, but failed to turn a profit...

The New Yellow Peril

Oliver Cattaneo October 6, 2004
Responding to public fears about job loss, the French government recently announced new measures to prevent the outsourcing of domestic production. Opponents of offshoring, however, overstate its harmful effects, argues French trade specialist Olivier Cattaneo. For instance, in the United States – where outsourcing has become a potent political issue – the trade surplus in information services...

Freeing India's Textile Industry

Asutosh Padhi October 5, 2004
When the Arrangement on Textiles and Clothing (ATC) expires on January 1, 2005, the international textile industry will be entering a free-for-all phase. The ATC’s quota restrictions on textile exports have so far safeguarded poor countries such as Bangladesh and Cambodia, and its abolition leaves them to the mercy of the free global market. India, with its copious human and natural resources,...