In The News

The Death of Doha Signals the Demise of Globalization

Martin Jacques July 13, 2006
The deadlock at the Doha round signals the end of an era. The past 25 years of globalization coincided with the promotion of multilateral trade, but now both the developing and developed nations turn their interests elsewhere. As the US and other developed countries slide toward protectionism, developing countries refuse to accept the type of unfavorable agreements that once characterized...

Why Globalization Isn’t a Win-Win Situation

Stephen Roach July 12, 2006
A bilateral US-China trade relationship poses some dangers, according to global economist Stephen Roach. US policies encourage over-consumption and under-production in the global economy, resulting in a low saving rate and stagnating wages for middle-class workers. China’s policies focus on rapid over-production, a massive surplus of goods, a high savings rate, as well as wage inflation of...

World Puts the Brakes on the Rush to Globalization

Steven Pearlstein July 7, 2006
A backlash against globalization flourishes in countries that have benefited from active trade, including the US and China. Author Steven Pearlstein cites the failure of Doha, the polarized Mexican electorate and the US debate on immigration as evidence of the continued potency of the nation-state and the national economy. Rather than preaching about the dangers of protectionism and...

Last Stop, Lhasa: Rail Link Ties Remote Tibet to China

Joseph Kahn July 6, 2006
In terms of engineering, there is no doubt that the completed railway connecting Beijing to Lhasa, the remote capital of the Tibetan Autonomous Region, is a great feat. It traverses a total of 710 miles, much of it over unstable permafrost at astonishing altitudes. Chinese officials hailed the $4.1 billion project, expecting it to increase the flow of tourism, information and development to the...

Smiley Face Is Serious to Company

Thomas Crampton July 6, 2006
Trademark and patent laws have not kept pace with globalization – and conflicting laws among nations raise the question about whether a trademark registered in one country has any bearing on use in another. “We may live in the era of globalization, but trademarks are still rooted in territoriality," explains one attorney who specializes in intellectual property. In 1997, the French company...

Oil-Rich Russia Makes Ruble Convertible

Nick Paton Walsh July 5, 2006
Capitalizing on its growing status as a global energy supplier, Russia is making the ruble fully convertible in an attempt to renew its currency’s international status. The move will decrease the government’s control over the value of the ruble, opening the door for foreign investment in the currency. Riding dual waves of oil money and optimism, Russia is paying off its Soviet-era debts to the...

Amid Competition, India Cools To Expansion by Chinese Firms

Peter Wonacott June 27, 2006
China and India have the world’s most rapidly expanding economies, and any trade partnerships between the two serve as powerful counterweights to the other’s ties with the US. Some in India, however, are wary of Chinese incursion into strategic industries. India’s Foreign Investment Promotion Board has passed on issuing trading licenses to some Chinese firms, and officials in Beijing have been...