In The News

Bill Powell March 6, 2009
The US and China’s economies have been intertwined for a long time but the solutions they each have adopted to fight global recession are polar opposites. The author argues that in order to effectively grow the economy, they need to do opposite things. They both need rebalancing and should swap their own stimulus packages. The US needs to spend less and save more, while China should spend more...
March 5, 2009
Martin Wolf, Chief Economics Commentator and Associate Editor for the Financial Times, talks about his new book “Fixing Global Finance,” and the current financial crisis. In this interview with Nayan Chanda, editor of YaleGlobal, Wolf explains why global imbalances caused the financial crises, outlines the steps for ending this destructive cycle, and offers suggestions on how to help ensure...
Keith Bradsher March 5, 2009
For many years, East Asian exporters in Singapore, Hong Kong and Taiwan have enjoyed a massive growth in surplus. But all that has changed. As trade withers away, exporters in East Asia are suffering because consumers, retailers and other importers in the West are cutting back on their purchases, orders and have even gone to the extreme of stopping orders altogether. The question is, how to...
Vivek Wadhwa March 3, 2009
One of the reasons for success of the US economy as the world’s engine of innovation and growth has been its ability to attract talents from abroad. But thanks to contentious changes in the US immigration policy, especially a temporary worker visa program known as H-1B, it is no longer the land of opportunity. There are indications that immigrants, unsuccessful at obtaining the right to stay and...
David Dapice March 2, 2009
US prices ballooned, and then burst. Now the government must borrow heavily once again to stave off an abrupt collapse in values and demand. Such heavy borrowing, 12 percent of the country's GDP this year, depends on the willingness of other countries to buy US debt. But solvent countries and sovereign wealth funds are nervous about their own stockpiles and the health of the global economy:...
Lizzy Davies February 20, 2009
Some economic patterns are troublesome: A stunning locale captivates visitors, a tourism industry emerges, land prices skyrocket as foreign investors compete, until local residents can no longer afford to live in their own community. On the French Caribbean island of Guadeloupe, more than 70 percent of people live in government housing, a global economic downturn has diminished tourism, and a...
Nelson D. Schwartz February 19, 2009
Jobs vanish around the globe as people worry more and countries struggle to enact policies to stabilize local economies. A UN agency estimates that job losses could total 50 million by the end of 2009, reports Nelson Schwartz for the New York Times. Many jobseekers could be bitter and prepared to protest and seek new political leaders. Economic instability has replaced terrorism as the biggest...