In The News

Steps Out of the Global Development Crisis

Jens Martens September 20, 2010
As world leaders gather in New York to review the progress of the Millennium Development Goals set a decade ago, the enormity of the task ahead is clear. As the economic crisis spread across the globe, the government quickly adopted stimulus packages to stave off collapse. The fixes were temporary, though, failing to address immense structural challenges of trade imbalances, wage inequality and...

Chinese Remake the “Made in Italy” Fashion Label

Rachel Donadio September 16, 2010
An influx of Chinese to Prato transformed the Italian city into a center of low-end garment manufacturing. Trading in on the cachet of “Made in Italy,” Chinese firms increasingly connect to global production chains, quickly and cheaply meeting changing tastes, creating the “fast fashion” now so popular in Europe. Throughout Prato, new signs and specialty stores cater to the immigrants. Organized...

IMF Chief: Crisis Not Over Until Jobs Come Back

Bjoern H. Amland September 16, 2010
Global unemployment rates continue to climb – and the danger of global economic crisis is not past until jobs return, warns Dominique Strauss-Kahn, managing director of the International Monetary Fund. Only through cooperation can the IMF and the International Labor Oganization “steer globalization in the right direction,” maintains Juan Somavia, director-general for the ILO. Unsustainable...

Light Bulb Factory Closes; End of Era for US Means More Jobs Overseas

Peter Whoriskey September 10, 2010
The original light bulb has a long history with many nations and patents – starting with an English chemist in 1809 and perfected over the years by Scottish, German, American and Russian scientists – before Thomas Edison purchased some patents and devised the long-lasting filaments in 1879 and 1880. His name is associated forever with light bulbs. The last major GE factory making traditional...

Worry on the Jobs Front

Nayan Chanda July 12, 2010
Global economic recession severely curtailed hiring in the developed nations – and economists debate whether the slowdown is temporary or a “new normal,” explains Nayan Chanda, editor of YaleGlobal Online, writing for the Times of India. Some analysts blame outsourcing, low-cost labor and minimal regulations in emerging economies for high unemployment rates. Yet decisions of policymakers,...

Companies Brace for End of Cheap Made-in-China Era

Elaine Kurtenbach July 9, 2010
An array of low-cost goods in stores of the West is possible because of ample Chinese workers willing to work for a few dollars a day. But the days of low-cost bounty could be ending, as more Chinese are willing to unionize and go on strike for better wages and benefits. Higher shipping costs and pressure from the West for China to increase the value of its currency add to an uncertain business...

Forget India, Outsource to Arkansas

Jennifer Alsever July 8, 2010
With a national unemployment rate approaching 10 percent, relatively high for the US, biotech and IT technology firms eye low-cost labor rural communities in states like Arkansas, Missouri and Minnesota. Dubbed “rural outsourcing” by this CNN Money article, the work entails providing IT support or customizing software code. “For some companies, the thought of outsourcing work to countries with...