In The News

From Boom to Bloom

November 10, 2004
The lifting of millions of Chinese out of poverty constitutes one of the world’s greatest success stories in economic development. Yet behind the bold headlines touting this miracle remain problems that could undermine China’s success. The central government recently raised interest rates in order to prevent economic growth from overextending the country’s resources. And it has also committed...

US Trade Policy: Legacy of the Sorcerer's Apprentice

Bernard K. Gordon November 5, 2004
As US Trade Representative Robert Zoellick prepares to depart the Bush administration, his record should prompt a re-evaluation of US trade policy. Under Zoellick, the US has negotiated Free-Trade Areas (FTAs) with 12 countries – and is in the process of negotiating 10 more. While FTAs can be an effective means of spurring progress when global trade is floundering, argues Professor Bernard K....

India's Pharma Ache

Yogi Aggarwal November 4, 2004
By mastering the process of reverse engineering, the Indian pharmaceutical industry has successfully produced generic drugs at low prices – crucial for providing affordable treatment to those in need. The government's impending adoption of Trips (Trade Related Intellectual Property in Services), a WTO measure, may significantly hamper the industry's success. If the Indian parliament...

Is Putin an Anti-Globalization Hero?

Liliana N. Proskuryakova November 3, 2004
Russian President Vladimir Putin has made few friends within the anti-globalization movement, despite government actions that – on the surface, at least – reflect goals espoused by demonstrators – from Seattle to Genoa. Liliana N. Proskuryakova argues that anti-globalization activists have held their applause, as they believe Putin's inconsistent policies betray a different agenda: His...

Resilience Is Not Forever

Ernesto Zedillo November 1, 2004
The last four years has seen many potential economic shocks: the dot-com bust, terrorist attacks, and corporate scandals. Somehow, amidst the turbulence, the global economy has managed to persevere, relatively unscathed. According to Ernesto Zedillo, director of the Yale Center for the Study of Globalization and former president of Mexico, this resilience is due to a number of factors,...

Globalization: Europe's Wary Embrace

Philip H. Gordon November 1, 2004
From anti-McDonald's crusader Jose Bové's campaign, to violent clashes between Genoan police and demonstrators, to the anti-globalization theme's growing popularity with left-wing socialist and right-wing nationalist candidates, the idea might seem to be dominating the European political landscape. Not so, says Brookings Institution scholar Philip H. Gordon. In fact, polls show...

US Presidential Campaigns and the World – Part I

Kyle Usrey October 18, 2004
The two candidates in the US elections have showed the gulf of difference that exists on many policies. But they seem to share one thing in common: foreign trade is seen as the culprit behind many of the citizens’ economic woes. Kyle Usrey writes that protectionist rhetoric is shortsighted and dangerous to the US economy. Critiques of outsourcing are misplaced in their diagnosis. In fact,...