In The News

Stopping the Vicious Cycle

Nayan Chanda August 29, 2011
In the face of economic crisis and massive imbalances, the leaders of the world’s large economies, the Group of 20 or G-20, are paralyzed. “The weakness of western leaders is compounded by an abject absence of ideas about how to rescue the world economy,” writes Nayan Chanda, YaleGlobal’s editor, in his regular column for Businessworld. “Equally striking has been the silence of the BRICS – Brazil...

Only 3 Percent of What You Buy Is Made in China, But It's the Most Important 3 Percent

Greg Lindsay August 25, 2011
For four decades, corporations have outsourced manufacturing operations to Asia, reducing costs. Shifting manufacturing off-shore eliminated jobs and also “sacrificed the know-how to think of new ways of manufacturing goods,” explains Greg Lindsay for Fast Company. In all, services represent two thirds of the US economy. Manufacturing’s role is small: San Francisco Federal Reserve economists...

The Real Foreign Hand Backing Anna

Rajiv Kumar August 25, 2011
One man’s protest against corruption has caught India’s attention, ignited by trends of mass protests abroad, argues Rajiv Kumar in an opinion essay for the Hindu BusinessLine: With fewer opportunities in the West, investors flock toward emerging economies like India, bringing along new demands for transparency and accountability; fewer escape routes exist for India’s elite to flee corruption;...

The Great Failure of Globalization

Jeffrey Sachs August 24, 2011
US and European leaders are in denial over realities of global capital markets and competition from Asia, contends Jeffrey Sachs, director of the Earth Institute at Columbia University. Sachs argues that rapid globalization, responsible for the sharp economic decline of the west, has disproportionately hurt the unskilled and middle class while benefiting the wealthy. “The path to recovery now...

Top Indian Technology Firms TCS, Infosys, Wipro, Aegis and Others in US Are Going for Local Hiring

Shruti Sabharwal August 22, 2011
Indian IT firms are seeking to employ more Americans as a result of the high US unemployment rate and criticism of outsourcing. “In response, IT firms are now pulling out all the stops to be seen as job creators with a stake in local economies,” writes Shruti Sabharwal for the Economic Times. Sensitive to charges of stealing jobs, the Indian firms have joined a number of US initiatives: Wipro...

The Eurozone Fights for Survival – Part II

Joergen Oerstroem Moeller August 18, 2011
Lenders are in the habit of putting profits over borrowers’ interests. Many players in the financial markets – the credit markets, banks, economists and analysts – took little notice as small eurozone economies like Greece amassed huge debts based on fiscal records of strong partners like Germany. Massive lending led to crisis, and an abrupt halt, hiking interest rates, aggravated the...

The Global Era and the End of Foreign Policy

Philip Zelikow August 18, 2011
The world is so connected, with greater wealth and power overall, that foreign policy has shifted from adjusting relations between states to convincing states to adjust internal policies, explains Philip Zelikow, professor and former US State Department counselor, in an essay for the Financial Times. The most pressing modern challenges, like climate change, cybersecurity, famines or terrorism,...