In The News

Multinationals: Globalization's Offspring

April 10, 2007
Scrappy new multinational firms are emerging all over the world: Hindalco and Tata from India, Lenovo and PetroChina from China. “Just as Toyota and Samsung eventually obliged western multinationals to rethink how to make cars and consumer electronics, so today's young thrusters threaten the veterans wherever they are complacent,” notes this article in “The Economist.” The new firms are...

US-Korea Trade Deal Still Faces Hurdles

Evan Ramstad April 9, 2007
Politicians won legislative office in both the US and South Korea by vehemently opposing trade. Negotiators for the two nations have ironed out a complex trade agreement, but lobbyists representing agriculture, automobile or electronics interests could balk at details such as South Korea excluding US rice exports or the US delaying any decision to purchase Korean products made at an industrial...

Big Powers Jockey for Oil in Central Asia

Fred Weir April 9, 2007
The US, the European Union, India, China and Russia compete for influence in Central Asia – a place crucial because of its oil and natural gas reserves, with vital pipelines crisscrossing the region. Currently, Central Asian states largely rely on Russian infrastructure to deliver and sell their oil. Analysts in the West question reliability of Russian oil supplies because of the monopolistic...

Peaceful Resolution of the Iran-UK Crisis: Could It Be a Precedent?

Dilip Hiro April 9, 2007
The UK and Iran scored a mutual diplomatic victory, after negotiating the release of 15 British naval personnel from detention in Tehran. Although the precise details of the negotiations between Britain and Iran remain unclear, the peaceful conclusion to the crisis suggests that direct talks between disputing countries is the best way to resolve contentious issues. To avoid escalation, the Blair...

India’s Edge Goes Beyond Outsourcing

Anand Giridharadas April 5, 2007
Developments in transportation and communications technology enable greater globalization of more segments of the labor market. For several decades, manufacturing jobs gradually moved from developed countries to areas with low-cost workers. Now workers in the developing world take on more complex tasks in engineering, finance and pharmacology. Boeing, for instance, relies on Indian-developed...

How Serious a Challenge?

Robert O. Freedman April 5, 2007
Russian President Vladimir Putin has long hoped to restore prestige for Russia at levels once enjoyed by the Soviet Union. But a weak economy, the Beslan school massacre and Ukraine’s “October Revolution” have weakened Russia’s stance, even among former Soviet republics. As a result, Putin has sought out a new arena for projecting power: the Middle East. America’s interminable conflicts in the...

Stock Market Hiccups No Cause for Worry

Manu Bhaskaran April 5, 2007
Economists debate whether the financial interdependence of the modern world provides insulation against shocks or sets the stage for a chain reaction of woes. Every major power has its financial weak point – immense debt for the US; regional conflicts and poverty for India; and a lack of transparency for China combined with uncertainty over how communist leaders can control a population accruing...