In The News

Beyond Debt Woes, A Wider Crisis of Globalization?

Peter Apps August 8, 2011
In recent decades, the world economy thrived on globally-driven growth and tightening interconnections among nations. In the process, nation states have lost control of the internet, financial markets, exploitation of natural resources and other global forces. “In the short term, that leaves policymakers looking impotent in the face of fast-moving markets and other uncontrolled and perhaps...

China Comes to Thailand

Richard S. Ehrlich August 3, 2011
China’s size and increasing economic might at times could be intimidating for other nations in Southeast Asia, including Thailand, despite their complex connections since ancient times. “Beijing is simultaneously increasing its military and cultural influence in Thailand, trying to wean Bangkok away from Washington and other foreign governments while expanding China's own reach southward,”...

A Global Laughingstock, US Politicking Threatens Economy

Philip Bowring August 2, 2011
US Congress went to the wire, lifting a debt ceiling to allow payment of its bills, salaries and benefits. The world wasn’t impressed by a last-minute show of unity, after weeks of unseemly squabbling that put the global economy at risk. Financial journalist Philip Bowring contends the spectacle that raised the long-term costs of government borrowing also exposed an undercurrent of troubles: US...

Read China’s Lips

Stephen S. Roach July 28, 2011
China funded US government spending in recent decades with low-interest loans. But the threat of default may end that free ride. China is the largest foreign holder of US Treasuries and other agency notes, with about $2 trillion invested. US financial woes have prompted China to adjust its growth strategy, explains economist Stephen Roach in an essay for Project Syndicate. Beijing worries about...

With US on the Brink of Default, Eyes are on Rating Agencies

David Dapice July 26, 2011
Governments have long operated by borrowing, not just for long-term projects but also daily operations. The US, with a self-imposed debt ceiling, borrows more than 40 cents for every dollar it spends. With the government about to exceed spending limits, global investors are on edge, waiting to see if the US Congress lifts the current debt ceiling, allowing continued operations, or goes into...

Employment Versus Debt

Nayan Chanda July 26, 2011
Confronting an ongoing economic crisis, US politicians have assigned greater priority to the nation’s large deficit rather than an unemployment rate officially listed at 9.2 percent. Also overlooked is a report from the US Department of Labor that 3 million job openings go unfilled. It’s a head-scratching moment, suggests Nayan Chanda, YaleGlobal editor in his regular column for Businessworld,...

China's Businesses Boom, But Its Brands Don't

Rob Gifford July 25, 2011
China is the world’s factory, yet other countries supply most of the designs. Chinese brands aren’t flowing along with the “Made in China” labels on products. “A key problem for Chinese businesses is a comparative lack of legal protection,” explains Rob Gifford for NPR. For China to move toward innovation, with corporate research and development, it must develop intellectual property rights to...