In The News

China Winning Resources and Loyalties of Africa

FT Correspondents February 28, 2006
In the early 15th century, well before Europeans set foot on the continent, Chinese traders and explorers landed along the coast of Africa. Centuries later, China and Africa continue to renew these ancient ties. Since 2000, China-Africa trade has quadrupled in volume, signaling a mutually-beneficial relationship. The continent offers China both a market for its goods and vast supplies of untapped...

Managing Globalization

February 22, 2006
Experts agree that globalization is inevitable, offering both positive and negative effects, and that the major problem is the world’s lack of institutions to contain the negative effects. In 2003, the private-sector arm of the World Bank created the “Equator Principles” in an attempt to fill the missing role. The guidelines cover the social and environmental impact of major projects such as...

Mittal Steel Executive Finds Support for a Takeover Bid

Saritha Rai February 21, 2006
The owner of the largest steel company in the world is meeting some resistance after making a $22.7 billion bid for its French rival, Arcelor. The proposed takeover by Mittal Steel, owned by an Indian national, Lakshmi N. Mittal, has sparked an intense concern in Europe. Mittal denies suggestions that a clash of business cultures could result, emphasizing the company’s international character...

How to Ease the Pain of Globalization

Catherine L. Mann February 17, 2006
Frequent news articles detail the offshoring of information technology (IT) jobs, sounding alarms for all US workers. Catherine Mann suggests that such alarm may be unwarranted and points out steps to maximize the benefits of globalization. Research indicates that the globalization of IT actually promotes productivity, creates new jobs, reduces inflation and enhances innovation, both in the US...

Boom Town

Adam Nicolson February 13, 2006
The future of the modern world is being raised, literally, from the sandy depths of the waters surrounding the city of Dubai. A developer’s paradise, this fastest-growing city in the world is open to all with a checkbook and an imagination. Dubai, centered between the rising powers of the East and the traditional powers of the West, is man-made, from its sky-high towers and luxury ski resorts in...

Managing Globalization: If It’s Here to Stay, What Do We Do Now?

Daniel Altman February 10, 2006
It has been approximately two decades since the word “globalization” became standard in business and economic discussions. In the beginning, the word described the challenges facing Western companies that had to compete with lower-priced, sometimes better quality imports from countries like Japan, South Korea, and China. Over time, however, the term’s meaning expanded as Asian companies started...

Luxury Industry Goes Global, Knock-Offs Follow

Alessandra Galloni February 3, 2006
When Giuseppe Festa, an Italian man who owned a small store in Naples became involved in counterfeiting, he also became a global businessman. Mr. Festa imported watches from Hong Kong through Georgian and Egyptian contacts, paid for the goods through New York and Swiss bank accounts, and distributed them throughout Europe in what amounted to one of the continent’s most successful luxury-goods...