In The News

Hybrid Cars Are Catching On

Danny Hakim January 28, 2003
In a global economy in which national boundaries hold little meaning for multinational corporations, American businesses are being forced to deal with competition from abroad. Japanese hybrid automobiles have begun to gain popularity in American markets, and American automakers, fearful of ceding yet another market to Japanese companies, have responded by announcing plans for the development of...

American Investor Protection is Protectionist

Benn Steil January 15, 2003
The world of finance is often thought to be the most truly globalized economic sector. But Benn Steil, André Meyer senior fellow in international economics at the Council on Foreign Relations, reminds us in this article that even such a free-market trumpeter as the US is still quite protectionist when it comes to its own financial markets. Despite the failure of Enron and the subsequent...

BMW, Mercedes, Porsche Upstage Motown Makes

Heidi Sylvester January 10, 2003
Globalization has resulted in the creation of multinational corporations whose activities span the globe. Now, even as Germany experiences an economic downturn, with the demand for new automobiles declining, German automakers have been able to enjoy profits thanks to the increasing demand for their products in the United States. The companies predict continued growth in the demand for German...

Brazil Needs A-Bomb Ability, Aide Says, Setting Off Furor

Larry Rohter January 9, 2003
A Brazilian official says that nuclear research is necessary for his country because "we need to be prepared." But prepared for what? Across the border in Argentina, and across the region, people are wondering what to make of this latest news from Brazil's newly-elected leftist government. Although the Brazilian President has distanced him from his aide's remarks, during...

Power to the Privileged

Amy Chua January 7, 2003
A central theme of global integration in recent years has been the spread of free markets and democracy. Yale professor Amy Chua argues that these features of globalization can create serious problems in countries where economic levers lie in the hands of an ethnic minority. She gives the example of Venezuela, where a president elected by the poorer section of society and the majority ethnic...

Latin America's Explosive Debt

Hilton L. Root December 19, 2002
The spiraling economic woes of Argentina, Brazil, and other Latin American countries virtually fill the headlines every few months. What can governments in the region do to reverse negative trends and move their economies back to an era of growth and prosperity? Many people in Latin America blame open-market economic policies for their dilemma, and many politicians looking to win on election...

Lula: The End of Latin American Populism?

Ernesto Zedillo December 13, 2002
For nearly a century, populism has been the most pervasive and successful campaign strategy in Latin America; however, as a political and economic tactic once in office, it has consistently betrayed its followers. Quite frequently, populist regimes – democratic or authoritarian – deliver short-term prosperity followed by “painful financial collapse.” And with the Brazilian financial situation...