In The News

$12 Trillion Monster Threatens Globalization

William Pesek June 12, 2007
Some countries control great pools of wealth, building funds from oil or other natural-resource revenue, according to William Pesek, Bloomberg news columnist. But with funds growing by leaps and bounds, their owners look to make good use of these savings – and in the process could transform global financial markets. The funds together, many based in Asia, could outgrow the entire US economy by...

Outsourcing Your Life

Ellen Gamerman June 11, 2007
No longer just a trend for big businesses, outsourcing can also eliminate some pesky personal tasks: categorizing family photos, editing home videos, tutoring, preparing invitations, and design of anything from dresses to garden landscapes to websites. Businesses and individuals alike hunt for projects that can be accomplished over the internet and appropriate freelancers. But choosing the proper...

In Nouveau Riche India, Even the Poor Show Off

Mark Sappenfield June 11, 2007
A nation that once relied on castes to categorize its citizens can now use possessions to reflect self-worth. Enjoying exploding income growth, consumers in India seek out the latest technology to reflect status. This trend emerges across all socioeconomic levels, with a recent study showing that spending across all economic segments is up by about 50 percent, reports The Christian Science...

Sari Weavers Struggle Amid Economic Boom

Emily Wax June 11, 2007
In India, weaving saris is a common way to earn a living, second only to farming in terms of the country’s most popular occupation. “The father of independent India, Mohandas Gandhi, clad in his homespun loincloth, launched his nationalist movement to defy colonialism by encouraging Indians to stop wearing cheap British machine-made cloth in favor of Indian-made fabrics, partly as a gesture of...

Chinese Auto Parts Enter the Global Market

Keith Bradsher June 8, 2007
Auto parts are one of China’s fastest growing industrial exports, and more than half go to the US, the world’s largest market for automobiles. The rise in these exports are part of a larger trend, as China moves away from exporting basic items such as textiles and shoes toward more valued industrial goods. Such production means higher wages for Chinese workers, but also puts the nation in...

Betting on Biofuels

William K. Caesar June 7, 2007
Potential in the biofuel industry depends on three factors: feedstock costs and availability, government regulations, and conversion technology. With feedstock responsible for at least 50 percent of biofuel production costs, the price has a huge impact on the profits a company can make. However, growing demand for feedstock poses consequences: Rising demand for ethanol increases US corn prices;...

G-8 Vows Greenhouse Gas Curbs; US Escapes Targets

James G. Neuger June 7, 2007
The G-8 summit vows a renewed global push to combat climate change – but declines to set any firm limits for now. The European Union, Japan and Canada promise to halve carbon emissions by 2050, while the US and Russia still balk at setting targets. The Bush administration wants any goals to cover developing nations like China and India. Otherwise “nothing is going to happen in terms of...