In The News

Japan Pays Foreign Workers to Go Home

August 10, 2009
The hard times of the global economic crisis has forced foreign workers in Japan into a quandary. “To leave or not to leave?” This is perhaps the question that most foreign workers will be asking themselves as the government tempts them with thousands of dollars in exchange for agreements to permanently leave the country. If they return under this program, they will be ineligible to reapply for a...

Recession Stems Oft-Fatal Boat Migration to EU

August 6, 2009
Fewer Africans seek greener pastures in Europe because of the global recession. The dearth of lucrative economic opportunities with their northern neighbors means less numbers of Africans are willing to risk their lives in often fatal journeys across the ocean. Experts emphasize that immigration is directly connected to the lure of economies elsewhere because people are driven by the hope for...

Insight: The Perils of De-Globalisation

Joe Quinlan July 23, 2009
The recent economic data suggest that the fallout from the financial crisis has abated and is nearing a bottom thanks, in part, to stimulus measures taken by countries around the globe. Yet, according to the author, it is these very stimulus packages that may undermine the global economy in the long run. By filling stimulus plans with “buy local” mandates, the US and other wealthy nations could...

Will the Crisis Reverse Global Migration?

Jayati Ghosh July 14, 2009
The current global financial crisis has led many an analyst to predict a reversal of recent growth trends in migration and a dramatic fall in remittances. While some data may confirm such predictions, it may not turn out that way in the end. As economist Jayati Ghosh argues, remittances may not decline as much due to gender issues and demographic factors and migration may be stickier than...

From General to Government Motors: Can GM Return to its Former Glory?

William J. Holstein June 25, 2009
The tale of General Motors may provide the inspiration for many a business parable. But according to author William J. Holstein, GM’s downfall started in the 1980s when the company failed to view as credible the threat of Japanese automakers and the tectonic shift in auto production to lean manufacturing. Couple this with outsized medical benefits for current and retired employees and a...

Soft Market for Cashmere Takes Toll in China

Keith Bradsher June 22, 2009
The global economic crisis is now starting to be felt in even remote countries like China’s Inner Mongolia and normally less cyclical professions like goat herding. Demand for cashmere sweaters knit in China and exported to the US and Europe is down 30 percent this summer, causing raw cashmere prices to fall 50 percent and forcing many Mongolian goat herders to sell their flock to make ends meet...

Economic Downturn Fuels Human Trafficking

Howard LaFranchi June 22, 2009
The global economic recession has resulted in a rise in human trafficking, according to a US State Department report. The report, issued annually and covering 2008, cites 52 countries and territories for failing to combat human trafficking, up from 40 the previous year. While the rise was caused in part by an increase in the number of countries included in the report and the higher standards by...