In The News

France Hopes to Block the Wave of Globalization

A. Sheshabalaya September 20, 2004
Job outsourcing has figured prominently in worldwide economic discussions, and the French government has taken a decisive, though controversial, step to address the phenomenon. In an effort to protect domestic employment, Prime Minister Raffarin announced a large subsidy for companies refraining from relocation. Honorable intentions aside, writes global Ashutosh Sheshabalaya, France may be...

Nagging Doubts About the Benefits of Globalization, and a Look at the Evidence

September 20, 2004
The phenomenon of "outsourcing" still fans the flames of much heated debate in both Europe and North America. At once praised and vilified, it has crept into all levels of discourse and political rhetoric. Some economists, led by Nobel laureate Paul Samuelson, have argued that by facilitating business and technological growth abroad, outsourcing companies may be sowing the seeds of...

A Nation of Nations

September 8, 2004
Given the dual threats of aging workforces and decreasing populations, many countries face fierce competition in attracting international professionals. Singapore, according to this editorial in The Straits Times, must broaden its immigration policy to ensure a vibrant, globally competitive population. Even the US, traditionally an international talent magnet, has shown signs of complacency...

A Dissenter on Outsourcing States His Case

Steve Lohr September 7, 2004
The issue of outsourcing has polarized the intellectual community, and the most recent rebuttal comes from Nobel laureate Paul Samuelson. In a soon-to-be published journal article, the distinguished economist challenges the prevailing theory that the US economy will, in the long-term, benefit from all types of trade – outsourcing included. Though the US has not felt widespread negative effects...

The Trek Abroad Quickens Pace

Anke Bryson September 3, 2004
The US is not the only country tackling the issue of jobs moving overseas; a recent study reports that German companies continue to shift operations to other countries. Despite labor agreements from Siemens and Daimler Chrysler to preserve some domestic operations, the industrial exodus may reach a peak this year. Further complicating matters, foreign investment in German industry has...

The Great Reverse - Part I

Clyde Prestowitz September 2, 2004
There are those who argue that history is cyclical, while others prefer to conceptualize it as an ebb and flow. As the economies of China and India continue their dizzying growth, it seems that history is preparing to repeat itself. Economist Clyde Prestowitz, in the first of a three-part series, coins the term "The Great Reverse" in reference to the projected Asian-leaning shift in...

Tour Operators Expect Bumper Sales

Vince Chong September 2, 2004
After the Asian financial crisis, 9/11, and SARS, Singapore's tourism decreased dramatically, with sales touching the bottom in 2003. This year, however, industry players are seeing a significant recovery. Authorities believe that sales could return to pre-SARS levels this year, and pre-9/11 levels next year. Some insiders attribute this improvement partly to a drop in major airlines'...