In The News

France Says “Non!” to Austerity

Jonathan Fenby May 7, 2012
Global markets are seized with new uncertainty as French voters rejected austerity measures, electing François Hollande, the Socialist candidate, as president. The win, if backed by French legislative elections in June, could send the European Union back to the drawing board for plans on rescuing debt-strapped Greece and resolving the eurozone crisis, reports author Jonathan Fenby. Election...

Global Power Shift – Part II

Richard Weitz March 23, 2012
With the US shifting its security focus toward Asia, the North Atlantic Treaty Organization has been forced to review its strategic posture. This two-part YaleGlobal series examines the impact of the US pivot toward Asia on both the US and NATO against the backdrop of their shrinking budgets and the need to reduce debt. While the US is concerned about China’s rising power, along with NATO, it...

In Europe, North Battles South

Joergen Oerstroem Moeller March 16, 2012
European economies can be divided into two categories – one that’s more competitive and flexible; the other more rigid, struggling to repay debts. With a few exceptions, countries of northern Europe are generally more competitive than the countries along the Mediterranean, explains researcher Joergen Oerstroem Moeller. He urges that the European Union cooperate in enacting structural changes and...

For US, Europe’s Debt Woes Are an Ocean Away

Bruce Stokes February 13, 2012
Ignoring the European debt crisis is reckless for a major economy like the US – though riots in the streets of Athens, a reaction to austerity measures, may prompt new heed. Bruce Stokes points to many reasons for the US to act swiftly on the euro-crisis: Nearly 60 percent of overseas profits for US multinationals come from the continent, with 20 percent of US exports headed to Europe; austerity...

France Deals With Globalization Crisis – Part II

Alain Renaudin January 27, 2012
Citizens of wealthy nations blame globalization and competition from Asia for unemployment and other economic woes. This two-part YaleGlobal series analyzes the temptations of protectionism, particularly in France during its presidential election campaign. Promoting labels that identify a product’s country of origin is not a solution, argues Alain Renaudin in the second and final article, and the...

France Deals With Globalization Crisis – Part I

Pierre-Noel Giraud January 24, 2012
Multinational companies have shifted manufacturing operations and research and development from West to East, taking advantage of low wages and huge Asian markets poised for growth. On the global trade front, countries like France feel battered, and political leaders increasingly toy with protectionism. This YaleGlobal series offers ideas on how nations can optimize globalization’s benefits. In...

End of an Affair? City of London and EU in Bitter Acrimony

Philip Whyte January 12, 2012
One’s history is long and the other’s is short, but the City of London and the European Union have each in their own way been drivers of financial globalization and economic wealth. But the hard-hitting credit crisis, a series of bailouts and global recession have tarnished reputations of governments and financial industries alike, endangering mutual admiration and cooperation: The EU resents...