In The News

No Ancient Wisdom for China

James McGregor October 8, 2012
Economic growth and steady job creation stabilize societies. Yet China has unleashed a form of capitalist growth that few other nations dare follow, what author James McGregor calls “authoritarian capitalism.” The system achieves rapid economic growth based on tremendous government support for state-owned firms, led by powerful Communist Party leaders. But analysts and reformers in China argue...

The New Barons of Bordeaux

Pallavi Aiyar September 12, 2012
Globalization is both blessing and curse for enchanting regions like Bordeaux. Even as Europe struggles with debt and austerity plans, centuries-old vineyards and chateaux languish on the market, and their winemakers must compete with upstarts from South Africa, South and North America. An increasingly prosperous China has become a major export market for Bordeaux wines, and Chinese investors...

Beijing Unflustered by Cool Ties With Seoul

Scott W. Harold August 14, 2012
China displays keen indifference to improving relations with South Korea. South Korea’s Ministry of Foreign Affairs and Trade has set up a chat-room to solicit public input on improving ties, but Scott W. Harold, China specialist for the RAND Corporation, is pessimistic about new foreign-policy approaches. He lists wide policy differences. South Korea hopes for eventual reunification with North...

7 Reasons to Expect US Manufacturing Resurgence

Farok J. Contractor August 7, 2012
The US may be a service economy, but it’s still the world’s largest manufacturer. There are many reasons to remain bullish on US manufacturing and the American worker, suggests Farok Contractor, professor of management and global business at Rutgers Business School. US firms invest in high-tech equipment, and the US worker is tops in adding value per hour on products. Recent economic difficulties...

US Law’s Positive Impact on Africa

Humphrey Hawksley July 10, 2012
With the sentencing of a Congolese warlord at the International Criminal Court, whose charges included employing child soldiers, the wheels of justice turn in Africa. Another unexpected source, too, is helping Africa. The Dodd-Frank Act was designed to reform the US financial system after the 2008 credit crisis, explains Humphrey Hawksley, BBC News correspondent, and Section 1502 addresses so-...

Time to End Fuel Subsidies?

Will Hickey June 7, 2012
Subsidies distort markets and discourage development of substitutes. Subsidies for fuel are especially problematic, because energy is a backbone of any economy. In terms of energy production and consumption, the world is an uneven playing field in terms of reserves, taxes, regulations, public versus private ownership and income availability. An abrupt end to fuel subsidies would crush the poorest...

Economic Nationalism Rises in Indonesia

John Berthelsen June 5, 2012
In Indonesia, as foreign investors express interest in a project – purchasing a bank or building a port – the government steps in with new regulations that thwart the deal and reinforce state-controlled enterprises. Taxes discourage exports of raw materials, minerals or palm oil, and encourage refining inside Indonesia. While globalization and foreign direct investment have fueled Asia’s...