In The News

A Rampaging Market, but a Long Way from Global Power

Isabel Hilton November 13, 2004
Many observers in the West have in recent years greeted China's steamrolling economic growth with unabashed optimism and glee. Yet amidst predictions of imminent superpower-dom, China faces stark internal inequalities that threaten to derail its lofty aspirations. While much of its urban population enjoys the material advantages and growing freedoms of recent reforms, 900 million people...

Globalization's Missing Middle

Geoffrey Garrett November 5, 2004
The World Bank classifies each country into one of three groupings: high income, middle income, and low income. The top 25 percent of all countries make up the first category, 30 percent fall into the bottom, and the remaining 45 percent – mostly comprised of Latin America, the former Soviet bloc, Asian tigers, and the Middle East – are "middle income" countries. Political science...

Textile Quotas to End, Punishing Carolina Towns

Elizabeth Becker November 2, 2004
With the global textile quota system coming to an end in early 2005, the potential winners and losers of the previous system are becoming apparent. While several big developing countries specializing in the textiles will have the largest shares of the US$495 billion textile trade regime, others – whether industrialized countries like the US or under-developed countries like Cambodia – will see...

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...

Trading in Pieties

October 22, 2004
A new European Commission proposal will give poor countries special access to EU markets if they agree to sign the Kyoto global warming protocol and other international environment and labor treaties. But manipulation of trade privileges is often thinly veiled protectionism, argues the Financial Times in this editorial. If trade negotiations do not focus on opening markets, the adoption of these...

US Presidential Campaigns and the World – Part I

Kyle Usrey October 18, 2004
The two candidates in the US elections have showed the gulf of difference that exists on many policies. But they seem to share one thing in common: foreign trade is seen as the culprit behind many of the citizens’ economic woes. Kyle Usrey writes that protectionist rhetoric is shortsighted and dangerous to the US economy. Critiques of outsourcing are misplaced in their diagnosis. In fact,...

Globalization and the Political Future of Nigeria

Sam Ejike Okoye October 15, 2004
Although some may doubt the impact of globalization on the African continent, the recent surge of world oil prices to their highest recorded levels, triggered by the threat of strike in Nigeria may dispel the myth. If levels remain above US$50 per barrel through the coming winter, a worldwide recession is not out of the question, the article says. Today's economic, scientific, environmental...