In The News

Technology in India and China: Running Fast

November 16, 2007
Clocks, zero and paper – these and many other fundamental innovations emerged in Asia. Yet around the 15th century, the surge in Asian innovation tapered off. Scholars seek to explain sources for innovation and posit that leaders must provide incentives for progress; internal or external forces can give inventors a sense of purpose. Today, Asians are eager to pursue innovation through education...

Venezuela Scrambles for Food Despite Oil Boom

Rory Carroll November 15, 2007
Venezuelan President Hugo Chávez has gained both prestige and notoriety for his use of oil diplomacy throughout Latin America. An oil boom combined with Chávez’s socialist policies has had two consequences: a surge of imported luxury goods and a shortage of food staples. According to the research group Datanalisis, as much as a quarter of the supply of food staples is “disrupted,” and any stock...

Visit Africa. Bring Checkbook.

Jonathan Power November 15, 2007
The West has viewed Africa as an undifferentiated mess of war, disease, corruption and poverty for some time. The International Monetary Fund, however, estimates that sub-Saharan will grow at 7 percent in 2008, largely due to investment by Chinese and Indian companies. US and European experts are divided about Asian influence in Africa, whether India and China engage in mutually beneficial...

Why FAS 157 Strikes Dread Into Bankers

William Rees-Mogg November 14, 2007
Accounting rules organize how money is classified and valued – and investors expect transparency. New accounting standards, designed with that goal in mind, go into effect on November 15, 2007, and could exacerbate already volatile financial markets. By classifying a company's assets according to marketability, the new rules highlight those that are most risky, like sub-prime mortgages, and...

The Dollar in Danger

Sebastian Mallaby November 14, 2007
Overseas investors are skittish about investing in the US, in light of the recent sub-prime mortgage defaults. The US government functions by taking on debt. But as foreign investors resist investing in low-yield government notes and similar instruments described as low risk, the dollar sinks in value. The value of many currencies and commodities, including oil, are linked to the dollar. So many...

Vive La Vélorution

Manfred Dworschak November 13, 2007
Confronting astronomical gas costs and clogged city arteries, urban residents find a new way to get around. In exchange for little to no fee, they can temporarily rent a bicycle from stations scattered throughout the city and leave them at the destination. The system is wildly popular: For the rental program's first three months in Paris, Vélib provided more than six million rides. Cities...

Plain English Gets Harder in Global Era

Phred Dvorak November 12, 2007
The globalizing economy – particularly the rise of outsourcing and offshoring, along with the growing acceptance of English as the universal language within multinational corporations – raises the demand for sophisticated language training. English speakers confront a broader range of accents and cultures than ever before, and education programs step up their offerings. Some concepts – sarcasm,...