In The News

Made in America

Nayan Chanda February 6, 2009
As jobs vanish by the hundreds of thousands, the desire to intervene from politicians is only natural, an attempt to restore economic order and prevent social unrest. In capitals throughout Europe, workers protest and vow to remove politicians who fail to provide immediate economic relief. The US is no different, as the president and Congress race to save jobs with a stimulus package now valued...

Is Protectionism Unavoidable?

Jeffrey E. Garten February 6, 2009
The warnings on protectionism are dire. Economists and historians repeatedly remind us about the danger of sliding into protectionism embodied in the notorious Smoot-Hawley Tariff Act of 1930. By raising import tariffs on thousands of goods, inviting retaliation, causing collapse of international trade, the act transformed a US recession into a Great Depression. Deepening anxiety about vanishing...

India's Diamonds Lose Their Luster

Neeta Lal February 5, 2009
Hit by gloomy news of global recession, consumers sharply curtailed purchases of luxury goods, putting millions of jobs in jeopardy. It took India four decades to position itself as a world leader in processing diamonds, reports Neeta Lal for the Asia Sentinel, but recession in the US reduced demand by 60 percent."The industry had been witnessing exponential growth for over two decades,...

A Time of Troubles and Protest

January 30, 2009
More than 2.5 workers throughout France rallied behind a one-day strike, urging the government to protect jobs and wages. But as slumping sales and global recession have closed factories, policies and protests fail to address severe inequality that leaves some workers with secure jobs and benefits and many others, particularly among the young, without. In France, the government has focused on...

Outsourcing’s Appeal Grows During Volatile Times

Melanie Rodier January 23, 2009
The purpose behind most outsourcing is to increase efficiency and reduce costs. Firms can go to agencies that provide specialized and time-limited support in investor reporting, analyst research, legal research, regulatory oversight or information technology. “Outsourcing providers often invest in the latest technology, offsetting the expense by sharing the technology among several clients,”...

Exporting People

Joseph Chamie January 21, 2009
In coming decades, a population rise in developing nations is projected to greatly surpass expected population declines among developed countries. Some developing nations that lack industry and ample jobs forestalled poverty by devising policies that encourage citizens to work abroad. That strategy has helped reduce poverty by bolstering domestic employment, individual skills and foreign exchange...

After the Boom, The Bust. Now What?

Zhang Hong December 12, 2008
Unemployment is on the climb in China, possibly approaching as high as 20 percent, and that could trigger some social unrest. Having lost their jobs, several million migrant workers are returning to their rural homes. Journalist Zhang Hong suggests that any unrest will be minimal as long as workers can use their savings, reduce expenses and receive fair compensation for any work done. Students...