In The News

In France, an Economic Bullet Goes Unbitten

Floyd Norris April 11, 2006
Most European politicians recognize the grim truth – that economic reform is necessary for global competition and that youth cannot expect the many benefits now enjoyed by elders. Generous retirement and other social benefits correlate with high unemployment among youth. Corporate executives have suggested that politicians must make the difficult decisions that lead to economic reform, likely...

Europe’s Next Immigration Crisis

Alkman Granitsas April 11, 2006
From the Mediterranean to Eastern Europe to the Balkans, the periphery of Europe is booming as countries liberalize their markets and shake off the effects of 50 years of communism. The economic activity has attracted immigrants from impoverished lands – along with the first stirrings of racial intolerance. The immigrant experience of “Old Europe” suggests that three factors lead to society’s...

Invest Globally, Stagnate Locally

Daniel Gross April 6, 2006
US and European companies continue to accumulate wealth, yet neither the overall economies nor the labor forces have joined the ride. Traditional theory once suggested that climbing corporate profits promote investment, create jobs and increase consumer demand, eventually driving up wages as well. With global markets, companies enjoy far-reaching success, maintaining control over distribution...

Dying Swan Dance

Boris Khukov April 5, 2006
As a threat, bird flu elicits different reactions. When a German cat died from the flu, panic spread throughout Europe until scientists explained that a cat spreading the virus to humans was an unlikely scenario. Russians have also been wary about the flu, despite periodic government reassurances, with some conspiracy theorists describing the virus as a “leak from a bioweapons factory” or a...

Capitalism Under Fire

William Pfaff March 30, 2006
Mass demonstrations in France over a relatively minor change in employment policy reflect a deeper and unrealized anxiety about changes occurring over several generations in the international model of capitalism. A recent international opinion poll reports that 74% of Chinese believe the free-enterprise, free-market system is the outstanding option among economic models, while only 36% of French...

French MPs Say Song Downloads Must Work on Any Player

Angelique Chrisafis March 27, 2006
France has rejected any monopoly in the music download market, requiring that downloads be accessible to any type of digital player. The legislation would be a blow to Apple’s online music, ITunes, which dominates the global online music market and can only be played on the Apple iPod. The decision reflects a growing sentiment among French politicians against foreign domination of any sector of...

Is Globalization Stealing EU Jobs?

March 23, 2006
Increasingly, Europe finds itself struggling to answer the question of how it can simultaneously endorse free trade and preserve traditional industries and the jobs associated with them. In an age of inexpensive Asian imports, outsourcing, and bids for corporate takeovers from foreign entities, Europe is understandably worried about the effects of globalization on its job base. Europe’s...