In The News

Global Rebalancing: Now or Never

Stephen S. Roach July 19, 2012
Recent history – the Latin America debt crisis, the US subprime mortgage crisis and now the European debt crisis – offers a lesson that global imbalances are unsustainable. Lured by false promises of future growth, countries borrow big, risking prosperity and stability. Global growth is in question: Wary of debt, US consumers have tightened spending; India and China, as emerging economies, cannot...

Illegal Immigrants in Greece

Andreas Ulrich June 5, 2012
Greece is a favorite point of entry for immigrants seeking to begin new lives in Europe. About 100,000 arrive per year from Iran, Syria, Pakistan, Bangladesh, Afghanistan and Africa – far more than attempt to cross borders in central European states like Germany. The immigrants are unpopular in the troubled economy, and Greece is stepping up security and border patrols. With so many willing to...

What’s Next for Europe?

Alistair Burnett May 23, 2012
Politicians in power since the 2008 financial collapse, regardless of their political stripes, find themselves in peril. Analysis of the recent French and Greek elections followed three lines of thought – that voters soundly rejected strict austerity measures, blamed incumbents, and abandoned mainstream political parties for more extremist leadership, both right and left. The three...

US Battle to Revive Manufacturing – Part I

Bruce Stokes April 11, 2012
As the US confronts stubborn unemployment and a shrinking industrial base, a battle is shaping up about reviving manufacturing. Running for reelection, President Obama has embraced manufacturing and export renaissance, even as free-market supporters find fault in what they call his “industrial policy.” In this two-part series, YaleGlobal examines the political and ideological implications of...

In Europe, North Battles South

Joergen Oerstroem Moeller March 16, 2012
European economies can be divided into two categories – one that’s more competitive and flexible; the other more rigid, struggling to repay debts. With a few exceptions, countries of northern Europe are generally more competitive than the countries along the Mediterranean, explains researcher Joergen Oerstroem Moeller. He urges that the European Union cooperate in enacting structural changes and...

For US, Europe’s Debt Woes Are an Ocean Away

Bruce Stokes February 13, 2012
Ignoring the European debt crisis is reckless for a major economy like the US – though riots in the streets of Athens, a reaction to austerity measures, may prompt new heed. Bruce Stokes points to many reasons for the US to act swiftly on the euro-crisis: Nearly 60 percent of overseas profits for US multinationals come from the continent, with 20 percent of US exports headed to Europe; austerity...

Tax Reform May Not Bring US Jobs Back

David Dapice February 3, 2012
Technology and ever-growing productivity – not outsourcing – are the main culprits behind declining jobs in the United States. The US president has proposed revising tax policy to encourage companies to apply growing profits to factories and research inside the US. But manufacturing is going the way of agriculture; fewer workers producing more. “Because of automation and technology, each factory...