In The News

Globalization Boosts Europe’s Gangsters

Leigh Phillips October 28, 2009
Reduced trade barriers and ease of transportation brought about by globalization are also helping transnational criminal networks succeed in the European Union. A new report from the EU’s criminal intelligence agency says drug dealing, human trafficking, and trade in counterfeit luxury goods are on the rise. Criminal organizations are taking advantage of trade liberalization and low-cost airlines...

Outsourcing Progress

Nayan Chanda October 28, 2009
If you thought outsourcing would take a hit from the financial crisis, think again. While certain sectors have seen double digit declines, other end markets are growing. What the final tally for the year might be is unknown, but the results thus far are somewhat counter-intuitive. Outsourcing’s resilience in the face of such financial and political strain – lawmakers across the globe have often...

The Future Path for an East Asian Community

Kavi Chongkittavorn October 26, 2009
Southeast Asian countries known as ASEAN have agreed on the need to form a broader East Asian community and increase regional cooperation, despite the many challenges that such integration faces. Among these is the disagreement over how to deal with human rights violations, the differences in economic development and political systems of member states, diverging opinions on US involvement, and...

Beyond Copenhagen: How to Cool the Planet

Peter Heap, Barry Carin, Gordon Smith October 21, 2009
At this stage, it looks unlikely for the climate change convention in Copenhagen in December to achieve much in terms of lowering greenhouse gases. Moreover, there are many technical aspects to concluding a climate accord that replaces, let alone surpasses, the Kyoto Protocol that still need to be hammered out. Indeed, getting 192 signatories to agree on a multi-sectoral plan seems unlikely,...

Down But Not Out

Krishna Guha October 21, 2009
With the US caught in a deep recession and mired in deepening debt, the status of the US dollar as the world’s reserve currency is in question. Should these questions appear warranted, a crisis of confidence could create a “self-propelling spiral” weakening the dollar further. And if the dollar were to plummet, intervention by not only the US, but also other economies could be the response. But...

Dollars Without Borders

Dilip Ratha October 20, 2009
For many countries, a significant source of national income comes from remittances sent by family members working abroad. Remittances play a crucial role in the economic health of poor countries, providing funds for social services and capital for new businesses and investments. While the global economic crisis and high levels of unemployment are forcing many migrant workers to remain in the host...

Global Crisis: Bangladesh Bucks the Trend

Zafar Sobhan October 14, 2009
Conventional wisdom would expect export-dominated, monoculture economies like Bangladesh to suffer badly from the recent financial meltdown. But that has not happened. According to Daily Star opinion page editor and 2009 Yale World Fellow Zafar Sobhan, there are four reasons why Bangladesh escaped unscathed. First, the government kept its head by holding only safe US Treasuries when everyone was...