In The News

Panama Votes to Expand its Canal

October 25, 2006
With expanding global trade, container ships have more than doubled in size. To accommodate the massive ships, Panamanians approved the addition of a third navigational channel and construction of larger locks for the canal that crosses their country. The extra channel might also ease congestion at the canal, where ships sometimes wait days to cross between the Atlantic and Pacific oceans....

Micro-credit Pioneer Gets Nobel for Peace

Amelia Gentleman October 13, 2006
The Grameen Bank of Bangladesh and Muhammad Yunus, its founder, have won the latest Nobel Peace Prize in recognition for their work using microcredit loans to lift millions of women out of poverty. In the past, banks in the developing world rarely lent to the poor, trapping farmers in a cycle of poverty and depriving economies of small businesses. Yunus realized that even poor borrowers could...

Al Qaeda's Far-Reaching New Partner

Craig Whitlock October 5, 2006
Salafists are Islamic fundamentalists who advocate living by the original intent of the Koran, and since the 1990s, the Salafist Group for Preaching and Combat (GSPC) has pressed for a strict Islamic government in secular Algeria. GSPC splintered from a more radical group, the Armed Islamic Group (GIA), which killed thousands of Algerian civilians throughout the 1990s and insisted that any...

Globalization Hits Road Bumps in India

Pranab Bardhan October 3, 2006
The economic integration of a country requires that it open to foreign investment, adhere to flexible labor laws and practice careful fiscal policies. In a country with severe poverty and economic inequality, however, such reforms do not win many votes for politicians. Well aware of this fact, India’s politicians play to what economist Pranab Bardhan calls “anti-reform populism.” Many voters...

In Teeming India, Water Crisis Means Dry Pipes and Foul Sludge

Somini Sengupta October 3, 2006
Some middle-class neighborhoods in India’s wealthiest cities have ample plumbing and the infrastructure for supplying water, but not the actual liquid itself. India’s major cities fail to provide reliable tap water throughout the day, and this article from “The New York Times” describes how some women devote entire days planning to secure extra water. In terms of industry and technology,...

Give Globalization a Hand

Ernesto Zedillo September 19, 2006
Ongoing economic growth, as well as international trade and investment, continues to lift millions from poverty and make national economies more interdependent. Globalization not only provides economic opportunities, but increases global resilience against all manner of crises. Yet, despite globalization’s many benefits, political forces could curtail or even reverse the phenomenon. Every nation...

Making Globalization Work

Joseph Stiglitz September 8, 2006
Joseph Stiglitz, winner of the Nobel Prize for economics in 2001, complains about unfair trade, excessive debt and poverty, yet still argues that globalization offers enormous potential if managed properly by nations. He compares complaints about globalization to complaints about unemployment during the Great Depression of the 1930s: If governments had ignored economist John Maynard Keynes’ call...