In The News

Government Approval Not Enough, Businesses Need Social License

John Morrison October 21, 2014
Globalization drives business deals around the globe along with keen new awareness about social, environmental and other consequences of development. Best business practice now demands consent of the local people, suggests John Morrison, author of The Social License: How to Keep Your Organization Legitimate. The need for such pacts began with oil and mining projects to prevent costly delays and...

How Wall Street Is Killing Big Oil

Deepak Gopinath October 16, 2014
Companies rely on stock markets to raise money by selling small shares of ownership to investors. But investors may be killing rather than boosting major private energy companies. “Once reliable market beaters, Big Oil shares are lagging,” writes economist Deepak Gopinath. “Under pressure from investors, the world’s largest oil companies are now forced to cut capital expenditure and sell assets...

TPP, China and the Future of Global Trade Order

Shuaihua Cheng October 14, 2014
The Trans-Pacific Partnership, negotiated by 12 nations, could account for one third of all global trade. But so far, China is not included even though the country is a top trade partner for most of the participants and the world’s leading economy when accounting for purchasing power parity. TPP would eliminate tariffs and reduce non-tariff barriers. China would prefer reducing those tariffs by...

Trade With Caution

Nayan Chanda October 10, 2014
Foreign direct investment in target emerging economies is competitive. Japan and China have each announced new investments in India. The investors do not simply rely on geopolitical imperatives. “Sitting on a reserve of $4 trillion, China needs profitable avenues to use its savings and find employment for its citizens. Chinese companies need places to invest their cash reserves, export their...

Should We Ban Flights From Countries With Ebola Outbreaks?

Vauhini Vara October 9, 2014
Diagnosis of the first US Ebola case was followed by petitions demanding travel bans from West Africa. But modern airline travel entails multiple connections, and travel bans would not work, explains Vauhini Vara for the New Yorker. Bans would disrupt economies and slow transfer of essential supplies and personnel required to stem the infectious disease. Determined individuals could circumvent...

Melting of Arctic Ice Opening Up New Routes to Asia

Christoph Seidler, Gerald Traufetter October 4, 2014
Melting polar ice steadily opens the once-frozen Arctic to commercial traffic. One route along the Russian coast reduces travel time between Europe and Asia by nearly half; in the Northwest Passage of the Canadian Arctic, 24 ships passed through last year compared to 69 during the previous century. Impatient about claiming and accessing vast stores of mineral wealth, nations and industries...

The Political Implications of Latin America's Slowing Growth

Eric Farnsworth October 3, 2014
Brazilians head to the polls, and the results could be a bellweather for the whole region. Latin American economies have flourished during the last decade due to growing worldwide demand for their copper, iron ore, meat and soy. However, the region can anticipate a slowdown as the world continues to recover from recent economic crises and as growth subsides in China, their main market. Regional...