In The News

China’s Poison for the Planet

Andreas Lorenz February 2, 2007
Researchers around the globe are monitoring weather patterns that push the billowing smoke from China’s factories around the globe. The factories that lack state-of-the-art environmental protections produce huge clouds of pollution that know no borders. “Just as trade is global these days, so too is the threat against nature,” write Andreas Lorenz and Wieland Wagner in “Der Spiegel.” Japan,...

Climate Panel Issues Urgent Warning to Curb Gases

Elisabeth Rosenthal February 2, 2007
Human activities are almost certainly the main cause of global warming since 1950 and immediate action will only blunt some of the damage, reports the UN Intergovernmental Panel on Climate Change. Humans must strive for conservation and slow use of carbon-based fuels, such as oil and gas. Severe weather patterns, deteriorating habitats and species decline are accelerating as a result of climbing...

Beyond Oil: Reappraising the Gulf States

Kito de Boer January 31, 2007
Nations without oil must conserve and seek energy alternatives. Likewise, nations with oil must create jobs that do not rely on the petroleum industry. Rapid population growth in the Gulf nations means less oil revenue spreading throughout the economy for citizens. The wealthy Gulf Cooperation Council nations have high rates of unemployment that could lead to unrest. Inconsistent education...

Questioning Milton Friedman’s Free Market and Freedom

Pranab Bardhan January 30, 2007
Not only democracies but dictators and authoritarian governments pursue the benefits of economic freedom. The recent passing of Chilean dictator Augusto Pinochet and the Nobel laureate economist Milton Friedman provokes economist Pranab Bardhan to reflect on the connections that these two individuals represented: political control and economic freedom. Friedman and other economists have long...

The Global Question: Who Needs the US?

Peter Gumbel January 30, 2007
Global trade has flourished in recent years, so much so that it’s no longer the province of developed nations. The US is the world’s leading economy, accounting for almost 30 percent of the world’s gross domestic product, yet the nation cannot sustain prosperity by living on funds borrowed from China and other nations that save. Economists remain divided about how much a disruption in any...

Different Paths of Asian Giants

Ramkishen S. Rajan January 29, 2007
The rapid emergence of China and India dramatically transformed the global economy during the last decade. But the two countries have pursued contrasting strategies: China’s industrialization has been fueled by public-sector investments and large-scale foreign direct investment (FDI) in manufacturing; India’s has been driven largely by domestic companies and entrepreneurs. More recently, however...

Rich Man, Poor Man

January 25, 2007
As the complexity of the global marketplace increases, top executives and the wealthy have seen a dramatic rise in compensation while average workers confront the pain of labor outsourcing and stagnant wages. This irony has sparked a renewed urge towards protectionism and redistribution that puts free-trade principles at risk. Rather than the government piling up obstacles for globalization or...