In The News

Rumble in the Graveyard

Margot Cohen October 1, 2007
Just two decades ago, gravestone suppliers based in India were poised to dominate the global market. But now, China imports colorful granite available only in Indian quarries, manufactures tombstones and sells them to the world. In the process, China undercuts prices from other producers, including those in India. As Sino-Indian trade reaches unprecedented levels, India’s trade deficit with China...

Let’s Have a Real Debate on Globalization

Matthew J. Slaughter September 28, 2007
Many workers in the US fear that the United Automobile Workers’ strike against General Motors signals that the domestic auto industry is “losing” at globalization. The strike has ended, but some workers urge the federal government to scale back US involvement in international trade, most notably with emerging markets like China. Economist Matthew Slaughter counters that globalization has netted...

Enter, Pursued by a Bear

September 27, 2007
Russia has long known how to play upon the European Union's identity as a unified political entity and as a motley crew of countries with individual interests. When collective resolve seems weak, Russia is ready to talk to the Union, but when it seems strong, Russia talks to member states one by one. EU's current attitude towards Russia owes much to the rhetorical shifts of member...

Children Trafficked From Asia to UK to Work in Cannabis Factories

Nina Lakhani September 27, 2007
In 2004, Britain declassified cannabis, decreasing the penalties for growing or possessing the controlled substance. As fear of punishment faded, demand grew and so did the appeal of producing the drug for greater profits. Organized crime rushed to fill the gap between supply and demand, and with record levels of production, Vietnamese gangs rely on children to tend plants. So declassification...

Trading Ritual and Reality

Alan Beattie September 25, 2007
Trade agreements are often contentious, raising heated protests from those fearing job loss and eagerness from businesspeople anticipating record profits. Yet since major reductions in manufacturing tariffs were instituted following World War II, trade agreements have been more about style than substance. The decline in the importance of bilateral and regional treaties can be attributed to the...

Global Risk of US Credit Crisis – Part II

David Crane September 24, 2007
The globalization of finance has made vast amounts of capital available to many across the world, allowing select leading firms and individuals to become fabulously wealthy. But a lack of effective regulation and opaqueness of many financial instruments also exposed many firms and individuals to enormous risk. Globally connected financial markets and high-speed technology mean that one nation’s...

Armed Guards in Iraq Occupy a Legal Limbo

John M. Broder September 23, 2007
Providing extreme security measures for a few has become a problematic policy in Iraq. Iraqis complain about private-security contractors, particularly companies responsible for several shootings and injuries of Iraqi citizens. Early in the Iraq war, the US exempted armed contract guards from Iraqi law, and the Pentagon has not yet developed rules for security contractors, as so urged by the US...