In The News

A Floundering WTO – Part I

Edward Gresser March 21, 2006
The long-term future of global trade hangs in balance as the World Trade Organization struggles to reach consensus on desperately needed reform. A two-part series analyzes the promise WTO once held and how the pursuit of narrow and immediate gain by the richer nations may threaten the future for all. In the first article, policy analyst Edward Gresser notes that trade agreements among nations...

Tit-for-Tat Protectionism

March 20, 2006
Western powers have lost their competitive edge in the global marketplace and are responding with a wave of protectionism. Excuses range from protecting “sensitive” industries to economic “patriotism,” but global investment is under attack. One reason could be that the West has lost a competitive edge, suggests this editorial from a Singapore newspaper. Internal friction among EU member nations...

A Win-Win Partnership

Henry A. Kissinger March 17, 2006
The US and India can only benefit from a new spirit of cooperation and interdependence. But for the emerging partnership to flourish, both nations should understand their differences and common goals, writes Henry A. Kissinger, US secretary of state during the Nixon administration. The US embraces as its responsibility the spread of democracy, whereas India is more pragmatic and focuses on its...

Economic Patriotism and the Mittal Effect on Europe

M.N. Hebbar March 14, 2006
France has rallied to prevent an Indian firm from taking over Arcelor, the largest steelmaker in Europe, suggesting that the continent is not serious about the free flow of capital, goods and services. French politicians claim they are motivated by “economic patriotism,” a synonym for protectionism, and urge investors and the board of directors to fight the purchase, defying their own best...

Is This the End of Globalization?

Heather Stewart March 10, 2006
The anti-globalization message – protecting jobs and traditional industries – has powerful appeal in a fast-changing world. History shows that the most successful economies are those that open themselves to foreign competition, yet economists still struggle to explain how free trade can benefit all players, especially when markets specialize at what they do best. More citizens of wealthy...

Anxious America – Part I

S.L. Bachman March 9, 2006
Americans tend to take contributions from foreigners for granted. But with the post- 9/11 obsession with security, the attitude is changing, leading to visa restrictions and worry about business deals that in the past raised nary a concern. In a two-part series, YaleGlobal examines the implication of this extra concern about security on US economic prosperity. Recently the announcement about a...

Time for Russia to Join the WTO?

Bruce Stokes February 24, 2006
With immense oil revenues and growing foreign investment, Russia is positioning itself to join the WTO. However, Russia’s membership largely depends on the US, and Congress granting Russia permanent trading partner status later this year could clarify Russia’s chances for WTO membership. But many US companies and interests still have concerns about Russia’s readiness for WTO privileges. The...