In The News

Free Trade’s Underlying Condition: Reuters

John Foley April 7, 2020
Individuals tend to panic and hoard during a crisis. The same is true for nations that must distribute protective equipment during the COVID-19 pandemic with globalization, reliable supply chains fall by the wayside. With demand running high for protective masks, the US president ordered 3M to supply US markets before Canada and Latin America.“The $80 billion company protests, pointing out that...

COVID-19 Not Globalization Crisis: Financial Times

Robert Armstrong March 18, 2020
Global and community leaders most understand the nature of the COVID-19 crisis to develop effective strategies. The crisis calls for global cooperation rather than competition. People may pursue fewer person-to-person connections, but will still rely on global communications and data on best practices. “The virus has revealed the hidden costs and fragility of global supply chains, triggering a ‘...

African Farmers Take on Big Chocolate: FT

David Pilling January 19, 2020
Ghana and Ivory Coast produce about two thirds of the world’s cocoa. David Pilling, writing for the Financial Times, questions why such nations cannot break free of poverty, and then explains how many farms are small, producing just a few bags of pods each year. “Ghana supplies about one-fifth of all cocoa beans, for which it earns about $2bn a year, less than one-fiftieth of the value of the...

Global Minimum Corporate Tax Rate: Financial Times

Chris Giles November 10, 2019
Multinationals can sell products and services in more than 200 nations, and many, especially big technology firms, shift profits across borders to minimize tax bills. The Organization for Economic Co-operation and Development, which represents democracies, is reviewing global tax policies: one recommendation would allow countries to tax operations even if the companies have no physical presence,...

Multinationals Brexit: Global Finance

Andrew Woodman May 5, 2019
Early on, multinational companies suggested they would stick with the United Kingdom through Brexit. But uncertainty since the June 2016 election when voters decided to end membership with the European Union vote and a lack of processes to replace EU regulations is prompting many to end expansion plans. The UK and the EU agreed on extension of the March 29 deadline for leaving. Companies to...

East Asia Foundation: FDI Outflow Surge From South Korea

Namsuk Choi April 11, 2018
Foreign direct investment outflows from South Korea are surging, increasing by more than 30 percent annually since 2010. Such levels can signal economic growth, but can also warn about rising wages, tax rates and regulations that erode a country’s manufacturing base and eliminate jobs, explains Namsuk Choi for East Asia Foundation. “The Moon Jae-in administration’s economic policies have had...

Quartz: US Tax Bill Is a Massive Victory for Globalization

Tim Fernholz December 21, 2017
The US tax bill is a big win for corporations, with corporate income taxes reduced during a time of record profits, reports Tim Fernholz for Quartz. Emboldened multinationals may expect other countries to do the same. “The US corporate tax rate is being cut by 40%, and rather than taxing global earnings, the US will move to a territorial system, with foreign revenue taxed at a bare minimum,” he...