In The News

Security Above All

July 2, 2004
With the coming into force of a United Nations-initiated shipping code a new barrier has been erected in global trading. The International Ships and Port Facility Security Code which was adopted by the UN members in 2002 requires countries to undertake security measures to prevent terrorist use of international shipping. This editorial in a South African newspaper echoes the mixed reaction the...

Alternative Globalization

Bharat Jhunjhunwala July 2, 2004
The author of this editorial in the Ethiopian newspaper questions the wisdom of developing countries staying within the WTO and letting themselves be squeezed by the developed countries. He says that the basic inconsistency of the WTO is that it provides protection to the monopolistic control of technologies but prohibits the monopolistic pricing of natural resources. He argues that the...

Faces of Globalization

Jong-Heon Lee July 1, 2004
Korean films have recently experienced increased popularity such that they now control 70 percent of the domestic market share, a figure which is up from 35.1 percent in 2000. Whereas, in the past, South Korean films were of poor quality and attracted few viewers, now the industry is producing blockbusters like "Taegukgi" (the South Korean national flag) which not only fared well...

Brazil's Big Stake in Cotton Likely to Become Bigger

Todd Benson June 29, 2004
For some time now, Brazil has been a leading critic of cotton subsidies of over $3 billion paid out to American cotton growers. Its stand against such supports, which leads to increased output in the US and artificially depresses global prices, is finally paying off. With the World Trade Organization ruling in early June that American cotton subsidies violated international trade rules, Brazil is...

Fake Medicine Lurks on Consumer Shelves

Rambabu Garikipati June 29, 2004
If you get sick in South Korea, make sure the medication you buy is the real thing. In a recent raid on 123 pharmacies in Seoul, police seized millions of won in counterfeit pharmaceuticals. Local authorities and global drug companies say that fake drugs are easily available in Korea, but questions remain as to whether most are locally produced or smuggled in from China. Although customs...

China Debates Its “Peaceful Rise” Strategy

Evan S. Medeiros June 22, 2004
Will the 21st century see China become a strong but benevolent superpower? Since late 2003, top-level Chinese officials have used the term 'peaceful rise' to describe an ideal growth plan for Chinese economic, political, and military expansion. Whatever the future evolution of this blueprint for Chinese development, says political scientist Evan S. Medeiros, it is noteworthy that the...

Terrorism Could Cost East Asia 3% in Growth over 5 Years: Study

Donald Urquhart June 22, 2004
A study by Australia's Department of Foreign Affairs and Trade has found that the long-term economic effects of terrorist threats are substantial. The developing economies of East and Southeast Asia are most vulnerable to negative effects, the report says, as they are more dependent on exports and foreign direct investment than developed country economies. Economic growth in the region...