In The News

Foreign Investment Isn't Enough

Jeffrey Kentor October 31, 2003
Although neoliberals argue that foreign investment spurs growth in developing countries, critics say high amounts of foreign capital may in fact retard development in the long-term. In a new study, economic sociologists Jeffrey Kentor and Terry Boswell suggest that both positions are incorrect, or at least partially so. Foreign investment is not a foolproof stimulant of economic growth, but...

Europe, Asia Stimulate Hyundai Expansion

Kim Mi-hui October 30, 2003
Hyundai, the leading car manufacturing in Korea, is looking to expand its sales in the European and Asian markets. Hyundai's power in the American market ought to be supplemented by a strong presence in the growing European and Asian markets, company officials say. With this in mind, Hyundai is building a plant in Eastern Europe, with four more possible plants in the Czech Republic,...

India's Call Centers Face Struggle to Keep Staff as Economy Revives

Ashok Bhattacharjee October 29, 2003
One the paradoxes of the call-center industry in India is that it requires English-speaking university graduates to answer questions from US customers but offers little in the way of advancement and intellectual stimulation. High turn-over rates are inevitable if the economy keeps expanding and thus offers more compelling employment options for well-educated Indians. Moreover, the rapid...

Multinational Corporations: Pro or Con?

Gauri Bhatia October 29, 2003
India's love-hate relationship with multi-national corporations (MNCs) is more complicated than simple fear of big, faceless companies. MNCs bring jobs (but also "hire-and-fire" policies), consumer choice (that push traditional foods out of the market), and brand-name products (which is feared to lead to 'US-worship'). The recent environmental and health debacles in...

When Jobs Move Overseas (to South Carolina)

Yilu Zhao October 26, 2003
Why would a Chinese refrigerator company move to America, where wages are ten times higher than at home? Prestige, argues Yilu Zhao, and political benefits back home. The Chinese government is pushing to put 50 of its companies on the Fortune Global 500 list and sees foreign investment and a greater share of the US market as the surest way. Thus state-owned companies, like the refrigerator...

Sizzling Economy Revitalizes India

Amy Waldman October 20, 2003
For young urban Indians, there seems to be no better way to celebrate Gandhi's birthday than going to the mall. The Indian middle class is spending money like never before – and now they have a lot more to spend. This year's visible economic confidence is partly a result of the political decision in the early 1990s to open up the Indian economy to increased foreign trade and...

Bolivia's Poor Proclaim Abiding Distrust of Globalization

Larry Rohter October 17, 2003
In a civil conflict that has already left more than 80 Bolivians dead this month, protestors have turned the issue of natural gas export through Chile to the United States into an indictment of globalization. Calling for the resignation of President Gonzalo Sánchez de Lozada, demonstrators are sending a powerful message – a resounding "no to the export of gas and other natural resources; no...