In The News

Beneath Booming Cities, China’s Future Is Drying Up

Jim Yardley October 2, 2007
China teeters on the edge of a water crisis. The country has five times the population of the United States, but less water, with the bulk of that supply in the south. Past policy mistakes, a dense population, climate change and galloping economic growth has shrunk China’s water supply. Agricultural irrigation accounts for most water usage, and pollution taints sources nationwide. The...

Rumble in the Graveyard

Margot Cohen October 1, 2007
Just two decades ago, gravestone suppliers based in India were poised to dominate the global market. But now, China imports colorful granite available only in Indian quarries, manufactures tombstones and sells them to the world. In the process, China undercuts prices from other producers, including those in India. As Sino-Indian trade reaches unprecedented levels, India’s trade deficit with China...

Let’s Have a Real Debate on Globalization

Matthew J. Slaughter September 28, 2007
Many workers in the US fear that the United Automobile Workers’ strike against General Motors signals that the domestic auto industry is “losing” at globalization. The strike has ended, but some workers urge the federal government to scale back US involvement in international trade, most notably with emerging markets like China. Economist Matthew Slaughter counters that globalization has netted...

India Tries Outsourcing Its Outsourcing

Anand Giridharadas September 26, 2007
India was an early leader in benefiting from the technology-driven globalization of the job market, but now positions such jobs all over the globe. A traditional recipient of outsourced labor, India has experienced rising worker wages and competition from other developing countries. As a result, writes journalist Anand Giridharadas, Indian firms have opened offices in countries such as Mexico,...

Climate-Change Challenge for the Poor – Part I

Chandrashekhar Dasgupta September 26, 2007
Although climate change has been brought about largely by development in industrialized rich nations, it will impose the most hardship on the poorest countries. In the first article of this two-part series, Ambassador Chandrashekhar Dasgupta of India argues that accelerated social and economic development may offer the only hope for poor nations who have a long way to go in adapting to climate...

Still Hanging On

Satoshi Kambayashi September 24, 2007
American foreign policy may have an independent streak, but the US depends on huge amounts of foreign capital. Despite some recent dire reports, the dollar’s recent decline has been small, considering recent volatility in the markets and tightening of credit worldwide, reports Satoshi Kambayashi. America’s tendency to accumulate debt contributes to the dollar’s dropping value. Kambayashi points...

Global Risk of US Credit Crisis – Part II

David Crane September 24, 2007
The globalization of finance has made vast amounts of capital available to many across the world, allowing select leading firms and individuals to become fabulously wealthy. But a lack of effective regulation and opaqueness of many financial instruments also exposed many firms and individuals to enormous risk. Globally connected financial markets and high-speed technology mean that one nation’s...