In The News

On Paper It Is Writ

Nayan Chanda July 25, 2007
The prosperity and growth that comes with emerging economies in Asia have caused discomfort in Europe and the US. “The anxiety gripping US workers is a replay of countless such episodes in the millennial-long drama of globalization,” writes Nayan Chanda, editor of YaleGlobal Online, for Outlook India. “The word globalization is of recent origin, but the process of growing interconnectedness built...

Haves and Have-Nots of Globalization

William J. Holstein July 20, 2007
US companies that move part of their operations abroad continue to report big financial gains. Defense contractors like United Technologies, for example, report a spike in foreign sales and increased stock prices. Increasing numbers of multinational companies based in the US – including United Technologies, PepsiCo and Honeywell International – report that a majority of their sales are in foreign...

We Should Welcome the Dawn of the Migration Age

Ban Ki-moon July 17, 2007
Globalization, like other phenomena, occurs in stages, explains Ban Ki-moon, secretary-general of the United Nations. In the first stage, the flow of capital and goods increased, and, for the most part, developed countries benefited. That stage prompted the age of mobility, with people crossing borders in search a better life and opportunities. Mobility has benefits – for example, remittances,...

Come One, Come All

Edward Glaeser July 12, 2007
Globalization has contributed to a decline in manufacturing cities like Detroit, forcing firms to confront foreign competitors. Other cities, like New York, reap benefits from globalization, argues Harvard professor Edward Glaeser. New York City thrives on producing ideas, and globalization spurs innovation. Innovation emerges in communities where people thrive on education, exchanging ideas and...

Fast, Freewheeling Globalization for All

Susan Froetschel July 5, 2007
Any attempts to analyze globalization must wrestle with its heady speed. Daniel Altman’s latest book, Connected: 24 Hours in the Global Economy, is one such effort. Altman, who also writes a column on managing globalization for the International Herald Tribune, uses a sample of events from a single day – June 15, 2005 – to analyze all manner of economic connections. He suggests that every person...

EU Globalization Fund Questioned

George Parker July 5, 2007
The EU created a fund to assist those who have lost jobs due to global competition. But the fund has received a mere two requests for aid, prompting speculation about whether global competition really harms European jobs, reports The Financial Times. France was the most enthusiastic supporter of the fund and so far is the only country that has applied for funding. France wants money to retrain...

A Lesson That Thomas Could Teach

David Leonhardt June 29, 2007
For the past two decades, US firms have relied on an outsourcing strategy: They move manufacturing operations overseas where they can employ workers for low wages, distancing themselves from production and condoning secrecy about factory practices. But this strategy has repercussions: After learning that Thomas the Tank Engine toys, manufactured in China, have lead paint, businesses tried to...