In The News

Chinese Migration Goes Global

Peter Kwong July 17, 2007
One out of every six people in the world is from China, and as a result, Chinese immigrants are increasingly visible around the globe. The movement of people begins in China: As the economy booms, many rural Chinese migrate to cities seeking good jobs, but instead find tough conditions and crowds competing for jobs with low wages. Many start saving again to migrate abroad in search of opportunity...

Come One, Come All

Edward Glaeser July 12, 2007
Globalization has contributed to a decline in manufacturing cities like Detroit, forcing firms to confront foreign competitors. Other cities, like New York, reap benefits from globalization, argues Harvard professor Edward Glaeser. New York City thrives on producing ideas, and globalization spurs innovation. Innovation emerges in communities where people thrive on education, exchanging ideas and...

Global Safeguards for a Global Economy

Harold Meyerson July 12, 2007
Strategies that created mass prosperity in the US and Western Europe – by establishing safety networks and consumer trust – could be applied throughout the world, suggests Washington Post columnist Harold Meyerson. He urges the creation of a global safety agency to review and offer regulations on issues ranging from unsafe food imports to climate change. Meyerson suggests that it is unrealistic...

European Wine Wars: EU Vintners Turn Up Noses at Wine Reform

July 10, 2007
Europe is the world’s largest producer of wines. But in the EU, wine consumption is decreasing, even as inexpensive imports enter the market. About 15 percent of wine produced in the EU goes unconsumed, and the EU invests hundreds of millions of euros to turn unwanted wine into cheap cleaning products. The European Farm Commissioner proposes saving the EU money by paying farmers to destroy vines...

Debtor Nation

Jonathan Shaw July 6, 2007
Americans continue to buy only because they easily borrow from abroad. For now, the cost of borrowing is low, as countries buy low-interest US Treasury bills and bonds. Why foreign lenders send the US money in exchange for low interest rates is a “profound question,” suggests Professor Lawrence Summers. He and other Harvard professors analyze the sustainability of such lending, borrowing and...

Tajikistan: Abundant Water, Scarce Money

Konstantin Parshin July 6, 2007
Lake Sarez in Tajikistan began with an earthquake and a landslide that created a natural dam. Geologists express concern about stability of the dam and explore ways to relieve the water pressure, especially considering that water is in short supply in other parts of Central Asia. One idea is to build a massive pipeline to distribute water to regions in need, and another is constructing a...

Taking Stock

July 5, 2007
As shares on the Chinese stock market fall due to a government decision to raise share transaction taxes, experts warn that the decline is only temporary. China’s share prices quadrupled over the past 18 months. Furthermore, the World Bank predicts that China’s economic growth for 2007 will reach 10.4 percent. But the Chinese market is not invincible. Perhaps the greatest risks to the Chinese...