In The News

Going Global? Study Tata Steel First

Rajrishi Singhal April 8, 2016
Tata Steel is among a number of Indian firms selling foreign assets to repay debt or discontinue less profitable ventures, and the trends may signal India’s troubles with globalization, suggests Rajrishi Singhal. “Economic reforms and competitive pressures forced many Indian companies to expand operations overseas through acquisitions with either (or a combination) of three objectives in mind –...

US Adds China’s Internet Controls to List of Trade Barriers

Paul Mozur April 8, 2016
The internet represents 6 percent of the US GDP, contributing to economic growth and jobs, more so than the construction or food-service sectors, reports a 2015 study for the Internet Association. Previous studies by McKinsey Global Institute suggest that most economic benefit, 75 percent, goes to companies in traditional industries. Such is the rationale for the Obama administration to add China...

Globalization’s Toll: Tata Steel’s Expansion Dream

Dilip Hiro April 7, 2016
Executives in the mining and steel industries miscalculated by expecting rapid growth to continue in China. China's leaders instead shifted the direction of their economy to rely less on manufacturing and more on services. Slowed growth led to a downturn in demand for commodities like iron ore and coal along with overcapacity in the steel industry. That increased China's exports,...

Down, But Certainly Not Out

Nayan Chanda April 6, 2016
The United States is gradually lifting restrictions on trade with Cuba and abandoning the lingering hostility after the end of the Cold War. Cubans, after enduring decades of a controlled economy and hardship, have pent-up demand and look forward to diverse products and business opportunities associated with trade. Nayan Chanda, founding editor of YaleGlobal, reports his observations during a...

Debunking America’s Populist Narrative

J. Bradford DeLong April 5, 2016
As US voters worry stagnant wages, the availability of good jobs, and the nation’s ability to compete, economist J. Bradford DeLong suggests that candidates and voters may be going after the wrong targets. “The reason that incomes have stagnated is that American politicians have failed to implement policies to manage globalization’s effects,” he writes for Project Syndicate. US candidates have...

China, Russia Seek to Profit as the EU Beacon of Democracy Goes Dim

Humphrey Hawksley April 5, 2016
“Not long ago the European Union stood as an unassailable beacon, a model for how trade and shared values could override historical hatreds and how a disparate collection of nations could work together under a single set of political values,” argues Humphrey Hawksley, BBC correspondent, in this YaleGlobal esssay. The EU is now vulnerable to the charms – and illusions – of authoritarian order....

Better Late Than Never

Nayan Chanda March 31, 2016
India has flung open the doors on foreign direct investment in its food retail sector. “Presenting the annual budget, the finance minister announced that his government would allow 100 per cent FDI in agricultural food processing, which covers the multi-brand retail of food products produced and manufactured in India,” writes Nayan Chanda, YaleGlobal’s founding editor, in his column for...