In The News

Look Beyond the Street

Nayan Chanda October 24, 2011
To avoid a day of reckoning, governments should heed, not mock, the complaints emerging from movements that have gained rapid global momentum, contends Nayan Chanda in his regular column for Businessworld. In 2003, protests in 60 nations opposed the impending US invasion of Iraq. The protests did not prevent the costly war, but exposed the war’s flawed rationales. This year, protesters in more...

US Falls Behind in Global Race for Talent

Bruce Stokes October 17, 2011
The US has long attracted the world’s top talent coming to its shores for study and work and benefited richly from their innovations. Advanced engineering, math and science programs of US universities depend on students from China, India and South Korea: More than a third of the US doctoral-level science and engineering workforce was born outside the United States, reports Bruce Stokes,...

So Many US Manufacturing Jobs, So Few Skilled Workers

Lucia Mutikani October 17, 2011
A disconnect hampers US economic recovery: Manufacturing plants based in the US struggle to fill jobs, even with 14 million Americans searching for work. American students prefer studies in the social sciences, arts and business. Math, engineering, technology and computer science degrees account for less than 10 percent of college diplomas. For jobs that don’t require degrees, vocational...

Biggest US Free-Trade Accord Since ’94 Passed

Eric Martin and William McQuillen October 13, 2011
In an unusual display of agreement, the 112th US Congress approved free-trade agreements with South Korea, Colombia and Panama. The South Korea deal alone will remove duties on almost two-thirds of US farm exports and phase out tariffs on virtually all industrial and consumer exports within five years, reports Bloomberg. The US is striving to double US exports by 2015, and trade momentum could...

America’s Labor Pains

Nayan Chanda October 10, 2011
Americans are frustrated by their inability to find jobs and the widening inequality that brings. Proposals from government and corporations so far rely on unworkable notions that failed in the past, including protectionist measures or subsidies that reinforce aging industries that are no longer competitive. The world economy has undergone structural transformation, explains Nayan Chanda in his...

The World Is Flatter

Nayan Chanda September 27, 2011
The United States seems to have a knack for ushering in changes, then failing to adapt to the challenges they bring. The failure of the US to adapt to the technology and finance-driven globalization it introduced to the world has prompted an alarming decline. In his regular column for Businessworld, YaleGlobal editor Nayan Chanda reviews “That Used to Be Us: How America fell behind in the world...

A World Without Borders Makes Economic Sense

Michael A. Clemens September 16, 2011
Many of the world’s economies are still suffering due to the global economic crisis, and policymakers search for an elusive magic bullet. Michael A Clemens, writing for the Guardian, offers one possibility: increasing international migration. He describes the manmade barriers to economic mobility as the “single-biggest drag on the beleaguered economy,” and claims that even minor relaxation of...