In The News

America’s Truth Deficit

William Greider July 18, 2005
With countless jobs moving overseas and a growing trade deficit amounting to 25 percent of GDP, the United States today is losing ground in global competition and becoming more dependent on its strategic rivals. Leaders in politics, business, finance, and the news media have long been reluctant to discuss these problems. Instead they have obscured the trade problems with debates about currency...

Opel on the Outside, Mao on the Inside

Gerald Traufetter July 13, 2005
Lined up at the port in Antwerp, Belgium, are 200 new five-door sports utility vehicles – the first Chinese-produced cars to reach Europe. Despite their close exterior resemblance to the Opel Frontera, the imported models do not match the high quality of Western versions. It is the low price of the cars, however, that appeals to consumers. Manufactured in China, the utility vehicles cost 40...

A New Asian Invasion

Dan Roberts June 23, 2005
Two high-profile deals have brought Chinese companies into the spotlight: The China National Offshore Oil Corporation (CNOOC) bid on the Unocal oil group, while appliance manufacturer Haier set its sights on Maytag. Several Chinese companies are actively pursuing US industrial assets, stirring debates within Washington regarding trade policy and job displacement. The Unocal bid has also...

Chinese Oil Giant in Takeover Bid for US Corporation

David Barboza June 23, 2005
The first takeover battle by a Chinese company for an American corporation began on Thursday, triggered by a bid that the China National Offshore Oil Corporation (CNOOC) entered against Chevron's recent offer to Unocal. Within a growing and modernizing economy, China's largest corporations are striving to emulate their ruthless Wall Street counterparts. The New York Times reports that...

In Spite of Offshoring, US Students Can Still Engineer a Career

David Wessel June 20, 2005
A new report by McKinsey & Co. concludes that the nominal demand for engineering jobs in the US will not wane in the next few years in spite of the potential of offshoring. While there are more university-trained professionals in low-wage countries, many of them, according to the report, are unfit for the jobs demanded by foreign employers. Furthermore, it concludes that by the end of the...

Washington and the Chavez Question

Patrick Esteruelas May 25, 2005
Many fear that Venezuelan president Hugo Chavez may successfully create a substantial leftist, anti-American political bloc in South America. But as the Financial Times notes, Chavez's strategies – combining populist rhetoric, left-leaning militarism, and natural resource manipulation – may not be quite so successful. Venezuela's oil has been a key tool in shaping regional politics:...

On Advertising: Lenovo Tries to Win the West

Eric Pfanner May 18, 2005
Only a handful of Chinese brand names have achieved global consumer recognition. More often, many view China as a low-cost producer of Western consumer goods. The fact that Western companies essentially place their logos on goods manufactured in China, preventing Chinese companies from developing name recognition, exacerbates this perception. Lenovo, a major Chinese computer company that...