In The News

Brexit Is a Rejection of Globalization

Larry Elliott June 27, 2016
The less affluent fear political unions and expanding institutions because they lack power and control. With more concentrated power, wealth and influence the have-nots resist globalization, clinging to populist promises and local controls. Britain’s decision to leave the European Union reflects dissatisfaction with an economic model in place for three decades and its distribution of benefits. “...

Guess What Else Climate Change Hurts? Globalization

Eric Roston June 15, 2016
Multinational corporations rely on supply chains, and climate change could disrupt the efficiency. Weather-related disasters from flooding, droughts and wildfires cost billions of dollars in damage. “Manufacturing these days involves facilities in multiple countries, each of which has a sequential role in taking raw materials a step closer to being finished products,” reports Eric Roston for...

The Rise of Manufacturing Marks the Fall of Globalization

Rebecca Keller June 10, 2016
The many parts of complex machinery are sourced for now from multiple countries. “Over the past century, finished products made in a single country have become increasingly hard to find as globalization – weighted a term as it is – has stretched supply chains to the ends of the Earth,” writes Rebecca Keller for Stratfor. She points out that automation, robotics and computerization will gradually...

The New Backlash Against Globalization

Harold James June 9, 2016
Globalization has shifted in recent years and the anti-globalization movement has, too, with more focus on immigration than trade. In an essay for Project Syndicate, Harold James, professor of history at Princeton University, suggests trends in travel may contribute to diminished trust. Many people embark on global travel, but with “quick, superficial experiences” rather than immersion in another...

New Attack Reported by Swift Global Bank Network

Michael Corkery May 13, 2016
Technology has allowed banks to expand into behemoths and the assets of some number in the trillions. Thieves are using banking technology to conduct online bank robberies. “Thieves have again found their way into what was thought to be the most secure financial messaging system in the world and stolen money from a bank,” reports Michael Corkery for the New York Times. Swift, or Society for...

Is Globalization Really Fueling Populism?

Daniel Gros May 9, 2016
An angry populism – a belief that ordinary citizens, not elites, should control government while avoiding centrism and compromise – is on the rise in Europe and the United States. Daniel Gros questions the suggestion that the so-called losers of globalization are fueling such populism, suggesting the trends are not new. Inequality in education levels is not new, and workers with more education...

Globalization Is Changing, Not Going Into Reverse

Minouche Shafik April 14, 2016
Globalization can't be expected to move at an even pace. Some aspects of globalization like trade growth and capital flows are slowing, explains Minouche Shafik for Financial Times, but others like communications are growing. She is a deputy governor of the Bank of England. Shafik adds that regional agreements are emerging in trade and financial areas because of mistrust of global approaches...