In The News

Europe Fears Civil Unrest

Peter O'Neil January 26, 2009
Angry street protests in Bulgaria, Lithuania, Iceland and other nations, combined with economic recession, have unnerved European leaders, who met to talk about how to handle civil unrest. An abrupt drop in living standards, high unemployment rates, loss of homes, vanishing savings could spur protests far more disruptive than those that shut down capitals in 1968. “A more apt comparison for...

Exporting People

Joseph Chamie January 21, 2009
In coming decades, a population rise in developing nations is projected to greatly surpass expected population declines among developed countries. Some developing nations that lack industry and ample jobs forestalled poverty by devising policies that encourage citizens to work abroad. That strategy has helped reduce poverty by bolstering domestic employment, individual skills and foreign exchange...

Chinese Exports and Imports Continue to Shrink

Keith Bradsher January 14, 2009
China’s exports and imports continue to decline, setting up a scenario for more job losses and possible social unrest, reports Keith Bradsher for the New York Times. The sharp decline follows reduced consumer spending in the US and the West, down even for the holiday month of December. The global credit crunch also contributes to the decline: “Chinese suppliers have become more wary of shipping...

Wheels of Recession

Nayan Chanda December 22, 2008
Intricate global links among industries and suppliers mean the failure of one industry can be devastating for many others around the globe. “Outsourcing and off-shore production have changed the ecosystem of auto production so dramatically that the fate of millions of jobs all over the world hinges on a decision in Washington,” writes YaleGlobal editor Nayan Chanda in his column for Businessworld...

The Crisis Gives the US New Financial Power

Ricardo Hausmann December 19, 2008
The global financial crisis has reduced savings of the world’s wealthiest nations, but that does not necessarily reduce their power, suggests Ricardo Hausmann, director of Harvard’s Center for International Development, in an essay for the Financial Times. Nations can retain power, depending on how they borrow or spend. “The financial meltdown has translated into a sudden stop in capital flows to...

Mortgages May Be Toxic, But US Treasuries Appear a Safe Haven

Ashok Bardhan December 16, 2008
While the US financial markets were the source behind global credit calamity and still present tremendous uncertainty, foreign investors continue to demonstrate trust in US government institutions by increasing investments in US Treasuries. That trust gives policymakers time and space to work on significant imbalances in the areas of currency exchange rates, deficits and trade, explains Berkeley...

In China, Anger Rises as Economy Falls

Barbara Demick December 15, 2008
A global economic downturn prompted consumers in the West to slow spending, disrupting hiring and payroll in China and sparking sporadic protests, reports Barbara Demick for the Los Angles Times. China’s growth and employment rates still surpass those in the US, yet any economic slowdown “could present the leadership with its biggest political challenge since the student protests at Tiananmen...