In The News

Globalization Rubs Passions Raw

March 3, 2006
Conflict over the Danish cartoon crisis is a result of tension between the process of globalization and the pull of “nativism.” Globalization involves both the movement of people, goods, capital and ideas around the world, and the impact of the changes wrought by this flow. The effects of such exchanges are more immediate because of real-time communications through cell phones and the internet...

EU Fund to Ease Globalization Pain

James Kanter March 2, 2006
The Global Adjustment Fund is proposed as a new measure to help Europe’s economy absorb the effects of globalization. The fund will assist retraining and relocating workers whose jobs have been eliminated in ways demonstrably tied to global trade dynamics, such as outsourcing. The proposed fund comes as Europeans express increasing alarm at the prospect of foreign economic influence,...

Time for Russia to Join the WTO?

Bruce Stokes February 24, 2006
With immense oil revenues and growing foreign investment, Russia is positioning itself to join the WTO. However, Russia’s membership largely depends on the US, and Congress granting Russia permanent trading partner status later this year could clarify Russia’s chances for WTO membership. But many US companies and interests still have concerns about Russia’s readiness for WTO privileges. The...

Immigration’s Role Often Overlooked in Global Economy

Leif Brottem February 21, 2006
The flow of immigrants from the global south to North America and Europe in search of work is often overshadowed by the flow of goods, capital and information. The financial support immigrants provide to developing countries once they settle elsewhere is 50 percent greater than the development aid to those same countries from all other sources. Increasingly, however, the US and the EU are...

Mittal Steel Executive Finds Support for a Takeover Bid

Saritha Rai February 21, 2006
The owner of the largest steel company in the world is meeting some resistance after making a $22.7 billion bid for its French rival, Arcelor. The proposed takeover by Mittal Steel, owned by an Indian national, Lakshmi N. Mittal, has sparked an intense concern in Europe. Mittal denies suggestions that a clash of business cultures could result, emphasizing the company’s international character...

The Big Squeeze

February 21, 2006
The fight for survival by age-old icons of business and culture is not limited to the US. Volkswagen and other carmakers in Germany and France question whether they can provide mass domestic employment while competing against firms with lower labor costs in Portugal, Romania, Slovakia, the Czech Republic and China. One study reports that one in seven German jobs is “directly or indirectly...

The Decline and Fall Of Europe

Fareed Zakaria February 16, 2006
In March 2000, EU leaders pledged to make the EU “the most competitive and dynamic knowledge-driven economy by 2010.” That goal could be unrealistic. As policymakers debate the rise of Asia and its challenge to the US, Fareed Zakaria, a journalist who specializes in international relations, suggests that the major story of the decade may well be Europe’s economic decline. If current trends...