In The News

Exxon Bigger than Pakistan: Survey

August 14, 2002
Some multi-national corporations are now larger economically and growing faster than many nations, a UN report says. The report was filed to answer the debate whether corporations were over-shadowing countries in economic stature. Among the corporations, Exxon Mobil Corp, an oil company, topped the list, and the next highest were automobile manufacturers. The rest of the list was a diverse group...

Japan will not slash aid budget for East Asia

Kwan Weng Kin August 13, 2002
As the largest provider of Official Development Assistance (ODA) to East Asia, Japan plays a crucial role in maintaining regional economic stability. However, domestic concerns over Japan’s declining fiscal health have left others anxious about its role as a benefactor to China’s growing prosperity . Some feel that Japan is financing China’s economic growth. Nevertheless, recognizing East Asia as...

Easing Its Stance, U.S. Offers Loans to Uruguay

Richard A. Oppel, Jr. August 5, 2002
Although the Bush administration has been reluctant to give aid to Latin American countries in financial crisis, it recently agreed to bail out Uruguay, a country with a traditionally stable economy. Uruguay has been hit particularly hard by the ripple effects of Argentina and Brazil’s economic crashes. On those countries’ problems, Washington has been ambiguous, and Treasury Secretary Paul O’...

Foreign Distillers Seek to Slake India's Thirst

Saritha Rai May 5, 2002
Diminished social disapproval of alcohol consumption among India's middle class, coupled with a national economy increasingly open to foreign investment, is attracting big foreign distillers to India. For decades, India vigilantly regulated foreign investment, choosing instead to bolster and develop its local industries. With increased pressure from the World Trade Organization (WTO) to...

Auto Parts Makers Grinding to a Halt

Danny Hakim April 30, 2002
The globalization of automobile parts production and the search for a bigger bottom line have been putting pressure on suppliers all over the world. In this story, the New York Times profiles a Michigan auto-part manufacturer who is losing his business to a foreign supplier. “General Motors, Ford and Chrysler used to develop all of their work in their backyard. Now, it's go on the Internet...

Arise, Ye Prisoners of Starvation

Bill Keller February 23, 2002
In the uncertain days of communism's collapse, Russian farmers were unmotivated and struggling. When McDonald's decided to take a chance on them, enlisting Russians to provide beef, milk, and pickles for the new restaurants, the farmers were astonished. In the last decade, though, McDonald's has thrived in Russia, offering novelty, dependable jobs, and a clean place to eat for a...

China Under Pressure to Deal with 170 million Jobless

Mary Kwang February 8, 2002
As rural workers flock to the cities, unemployment in China seems unlikely to decline from its current level of 13 percent. The recent WTO membership is not a solution since most new jobs are expected to be in the professional sector. Most of the jobless come from rural areas where they make up 20 percent of the population. While government hopes that foreign companies and private investors will...