In The News

Globalization Old and New

Ullrich Fichtner April 20, 2006
Globalization comes in many forms, some more pleasing than others. As Vietnam eagerly pushes for incorporation into the WTO, it could discover that globalization becomes colonization, “Part Two.” Hanoi emerged from European influence with its dignity intact, according to author Ullrich Fichtner, but new and rapid development could transform the city’s charm, with small shops featuring gourmet...

Kazakhstan Entertains Grand Economic Development Plan

Melvut Katik April 17, 2006
Oil-rich Kazakhstan has a goal to become a major global economic force. Its strategy to drive growth depends on regional cooperation, particularly with Russia and to a certain degree China. Another major goal for Kazakhstan is accession to the WTO. Kazakhstan already possesses immense oil and gas resources, and global financial experts are bullish on the nation, with one analyst noting that the...

Has Globalization Gone too Far?

Nagesh Kumar April 11, 2006
Developed nations express growing resistance to foreign takeovers of national enterprises – from Mittal Steel’s bid for Archelor based in Luxembourg to Dubai Ports World plan to take over terminal operations of six US ports. The resistance contradicts WTO proposals from the West that would have allowed foreign investors to establish or acquire any business entity in any country. Developing...

Don't Give Up on WTO, Fix It

Richard G. Lipsey April 4, 2006
Contrary to what its most adamant critics maintain, the World Trade Organization (WTO) is a primary defense for poor and oppressed nations against exploitation from powerful nations and companies. Economist Richard G. Lipsey traces how the international institution that regulates trade emerged from policies facilitating globalization during the latter half of the 20th century. The WTO does not...

We Need Alexander Hamilton

Ernest C. Hollings March 30, 2006
Ernest Hollings, former senator of South Carolina, relies on early American history to compare the government and corporate approaches to trade. The second bill to pass through US Congress, in 1789, was a 50 percent tariff on all trade, which according to Hollings, allowed the US to develop its manufacturing and reduce dependence on Europe. Other presidents managed trade to nurture specific...

A Floundering WTO – Part II

Balakrishnan Rajagopal March 23, 2006
The goal for the Doha Round of WTO talks is to ease trade for developing nations and eliminate poverty. But the 150 members of the WTO have failed to reach agreements that would lower barriers for small and developing nations. In the second of this two-part series about the WTO, MIT professor Balakrishnan Rajagopal describes the world as more divided than ever before, with relatively successful...

Is Globalization Stealing EU Jobs?

March 23, 2006
Increasingly, Europe finds itself struggling to answer the question of how it can simultaneously endorse free trade and preserve traditional industries and the jobs associated with them. In an age of inexpensive Asian imports, outsourcing, and bids for corporate takeovers from foreign entities, Europe is understandably worried about the effects of globalization on its job base. Europe’s...