In The News

A Win-Win Partnership

Henry A. Kissinger March 17, 2006
The US and India can only benefit from a new spirit of cooperation and interdependence. But for the emerging partnership to flourish, both nations should understand their differences and common goals, writes Henry A. Kissinger, US secretary of state during the Nixon administration. The US embraces as its responsibility the spread of democracy, whereas India is more pragmatic and focuses on its...

Globalization Offered Two Ways: à la Carte and Prix Fixe

Daniel Gross March 15, 2006
US property owners love the high prices paid by foreign investors. But the nation can get prickly about some overseas investors: rejecting a Chinese oil company’s bid for Unocal in summer 2005 and an Arab firm’s proposal to manage operations of six US ports this month. Author Daniel Gross labels this tendency as “selective globalization syndrome.” Politicians attack symbolic deals, like the...

Economic Patriotism and the Mittal Effect on Europe

M.N. Hebbar March 14, 2006
France has rallied to prevent an Indian firm from taking over Arcelor, the largest steelmaker in Europe, suggesting that the continent is not serious about the free flow of capital, goods and services. French politicians claim they are motivated by “economic patriotism,” a synonym for protectionism, and urge investors and the board of directors to fight the purchase, defying their own best...

Is This the End of Globalization?

Heather Stewart March 10, 2006
The anti-globalization message – protecting jobs and traditional industries – has powerful appeal in a fast-changing world. History shows that the most successful economies are those that open themselves to foreign competition, yet economists still struggle to explain how free trade can benefit all players, especially when markets specialize at what they do best. More citizens of wealthy...

Anxious America – Part I

S.L. Bachman March 9, 2006
Americans tend to take contributions from foreigners for granted. But with the post- 9/11 obsession with security, the attitude is changing, leading to visa restrictions and worry about business deals that in the past raised nary a concern. In a two-part series, YaleGlobal examines the implication of this extra concern about security on US economic prosperity. Recently the announcement about a...

US Reviewing Second Dubai Firm

Jonathan Weisman March 7, 2006
The Bush administration has reversed direction by notifying the US Congress about sales with national security implications. That comes after public outrage greeted a proposal that would transfer operations of six US ports to a Dubai company. Now the government says it will investigate two deals in particular: Dubai International Capital's $1.2 billion acquisition of London-based Doncasters...

EU Fund to Ease Globalization Pain

James Kanter March 2, 2006
The Global Adjustment Fund is proposed as a new measure to help Europe’s economy absorb the effects of globalization. The fund will assist retraining and relocating workers whose jobs have been eliminated in ways demonstrably tied to global trade dynamics, such as outsourcing. The proposed fund comes as Europeans express increasing alarm at the prospect of foreign economic influence,...