In The News

Fed Chief Gives Seminar on History of Globalization

Edmund L. Andrews August 29, 2006
Governments must prepare their citizens for the increasing disruptions of new competition caused by the force of globalization. The world will face fewer disruptions if the “benefits of global economic integration are sufficiently shared,” urged Ben S. Bernanke, chairman of the US Federal Reserve at an annual retreat. Increasing numbers of the world population – particularly emerging economic...

Globalization for the Rich

Sunita Narain August 17, 2006
In the 1980s, the world’s most industrialized nations deliberately set out to create standards of global integration and trade liberalization, often foisting policies upon less-developed nations that had little say in the negotiations. In the area of trade liberalization, the world’s richest countries refuse to reduce agricultural subsidies while insisting that developing nations expose their...

Economic Patriotism – Blind Alley in a Globalized World?

Patricia Wruuck August 8, 2006
The successful takeover of Europe’s biggest steel company, Arcelor, by Mittal Steel, whose owner was born in India, is a setback for economic nationalists and protectionists. Shareholders, who saw monetary and strategic worth in the Mittal-Arcelor merger, bucked a board of directors that resented any hint of foreign control. Such resistance is not limited to non-European partners. Cross-border...

Heed the Voice of Asia in Peace Talks

Michael Vatikiotis August 7, 2006
Israel’s invasion of Lebanon, combined with the unwillingness of Washington and European capitals to step in to stop the carnage, has reduced the forces of moderation in Southeast Asia, creating another potential haven for extremist activity. With images of the destruction caused by Israel’s campaign against Hezbollah broadcast throughout these largely Muslim countries, groups such as “Jihad...

Letter from Britain: Lack of African Dream Lets a Nightmare Prevail

Alan Cowell August 2, 2006
At the 2005 G-8 summit in Gleneagles, Scotland, leaders from the world’s most industrialized nations promised increased aid for the countries of sub-Saharan Africa, while African leaders pledged to clean up corruption in government – kicking off the “Make Poverty History” campaign with high hopes. A year later, donor nations have not followed through on their promises, and some charge that...

Japan Makes More Cars Elsewhere

Martin Fackler August 2, 2006
A report released by the Japan Automobile Manufacturers Association shows that for the first time Japanese car companies manufactured more cars abroad than in Japan during the last fiscal year. The shift to local manufacturing has been a natural result of globalization of the industry, allowing the companies to shield profits from currency changes, reduce shipping costs and appeal to local...

As an Immigration Tide Swells, Europe Treads Water

Lawrence Downes August 1, 2006
Spain has the most nuanced laws in Europe regarding immigrants and refugees. Still, illegal immigration remains a contentious issue in the country that has received more than 11,000 immigrants from Africa this year. At a recent conference in Morocco, attended by delegates from European and African governments, representatives pledged to move towards a fair resolution of the problem, and the...