In The News

Staring Into the Mouth of the Trade Deficit

Elizabeth Becker February 21, 2004
Five years ago, the Northwestern city of Seattle made news when anti-globalization protests shut down a meeting of the World Trade Organization. Now, the city is back in the center of a national storm over trade imbalances and job loss. Seattle, the most trade-dependent city in the United States, earns more per capita from trade than any other area in the country. Yet with the US trade deficit at...

Women's Work: Globalization's Mixed Blessings

Erika Kinetz February 21, 2004
Women are generally preferred over men as workers in garment factories, presumably because of their "nimble fingers" and their perceived docility. In Cambodia and Bangladesh, an overwhelming majority of workers in garment factories are women. However, a study conducted by Oxfam International, a global relief agency, found that with multinational companies increasingly cutting down wages...

Edwards Notes Differences on Issue of World Trade

Katherine Q. Seelye February 20, 2004
As the race for the US Democratic Party's presidential nomination narrows down to just two candidates – Senators John Edwards and John Kerry – a significant change in strategy is underway. Both candidates, clearly capitalizing on public sentiment stemming from the loss of US jobs to overseas competition, are attacking international trade agreements and generally siding with US labor leaders...

Europe Can No Longer Rely on Immigrant Workers

Jonathan Power February 19, 2004
Europe needs to realize that immigrant workers alone will not solve the problem of an aging population, says the author of this article. One country, Sweden, has already made this realization and has increased the retirement age to 67. But given Sweden's long-term demographic changes, analysts have estimated that the retirement age could go as high as 79. An aging population, however, is...

Jobs Flight? Worry about Industry Flight Instead

Alvin Pang February 12, 2004
Singapore doesn't need to worry about workers leaving, but whole businesses. With a maturing economy based largely on IT, finance, and trade, Singapore no longer attracts budding entrepreneurs looking for the next big thing. And the current outsourcing debacle suggests that no oasis lies on the horizon. To stay competitive, Singapore needs to encourage younger firms to wade into...

Grassley, Others Rip Bush Official's Pro-Outsourcing Remark

Margaret K. Collins February 12, 2004
The Bush administration's chief economist came under fire this week for testifying that the movement of American jobs overseas will benefit the economy. Lawmakers from states affected by the outsourcing trend were quick to criticize President Bush for the "insensitive" remarks of economic advisor Gregory Mankiw, which came at a time when many Americans are worried about losing...

'Offshoring' Has Its Trade-Offs

Steven Pearlstein February 11, 2004
The offshoring of US jobs is becoming a hot topic in political and economic debates. Earlier this week, President Bush's top economic advisor, Greg Mankiw, weighed in on the controversy by claiming that the offshoring of service jobs - like software design - to India and other countries can only make US businesses stronger. But that's not necessarily the case, says Steven Pearlstein...