In The News

The McKinsey Global Survey of Business Executives, November 2004

December 16, 2004
Executives are significantly less optimistic about the global economy than they were a year ago, according to McKinsey's latest global executive survey. The weak dollar, volatile oil prices, and geopolitical uncertainty have dampened executive confidence around the world, especially in developed Asian countries. While European executives predictably take the dimmest view of George W. Bush...

China Blocks World Meeting on Workers' Rights

Joseph Kahn December 9, 2004
With its low cost environment, especially cheap labor, China has become the world's largest producer of manufactured goods. However, not only NGOs but increasingly foreign governments and business leaders have urged China to do more to protect workers' rights. China only allows government-controlled labor union. Recently Beijing appeared to be listening when Prime Minister Wen Jiabao...

The EU Loses its Rag

December 8, 2004
Ten years ago, trade negotiators set a deadline to end global quotas on textile exports. But with less than a month before the agreed-upon expiration date, the EU is growing increasingly worried about China's likely dominance of the international textile trade. Yet considering the EU's hopes to install its former trade commissioner as head of the World Trade Organization, efforts to...

Wal-Mart Gives in to China's Union Federation

Richard McGregor November 23, 2004
The world's largest retailer, Wal-Mart has always been resistant to unionization in its stores around the world. As its business in China expands, the chain store is pressured by China's official All China Federation of Trade Unions to establish union branches in its many stores. In a recent statement, Wal-Mart stated that the company would be in full compliance with Chinese law, and...

Companies Should Set Own Hours

Heike Göbel November 19, 2004
Years of economic stagnation and high unemployment have forced the world’s “leisure-time champions” to accept that stronger economic performance requires a longer workweek. “But it takes a very long time before the recognition of a mistake actually leads to a correction - at least in Germany,” writes columnist Heike Göbel. Germany’s unions add to the problem. Despite agreeing to some concessions...

Is America Losing Its Edge?

Adam Segal November 17, 2004
The long-standing pre-eminence of US technology and innovation worldwide may now face a challenge, as the changing face of the global marketplace takes its toll. As US trade and development has expanded overseas, partner nations have taken advantage of this access. Particularly in Asia, nations are making large strides in research and development (R&D) and other scientific technology. Budget...

The Looming Revolution

November 16, 2004
As the expiration of international textile quotas draws near, China emerges as a force to be feared by both rich and poor countries. Many believe that China, if unchecked, will soon have a global monopoly in textiles, forcing countries currently depending on textile exports into economic disaster. Meanwhile, India and Pakistan - China's main competitors - are hedging their bets. Indian...