In The News

The New Backlash Against Globalization

Harold James June 9, 2016
Globalization has shifted in recent years and the anti-globalization movement has, too, with more focus on immigration than trade. In an essay for Project Syndicate, Harold James, professor of history at Princeton University, suggests trends in travel may contribute to diminished trust. Many people embark on global travel, but with “quick, superficial experiences” rather than immersion in another...

Cheap Money Helped Inflate Energy Balloon

Rani Molla and Lisa Abramowicz June 7, 2016
An easy monetary policy applied by the US Federal Reserve and other central banks since 2008 to stimulate the economy after the global debt crisis may have contributed to the shale oil boom and bust. The reduced interest rates and borrowing costs may have encouraged speculative behavior among investors searching for high yields. “The increase in debt went hand in hand with a drastic increase in U...

Why Parents Are Often the Biggest Obstacle to Achievement

Paul Phillips June 6, 2016
Education is a long route to prosperity. Parents who view children as a resource that can contribute to a family farm, business or retirement often dissuade children from pursuing full education opportunities. “Because they equate education with loss,” writes Paul Phillips, principal and chief executive of Weston College. “That is to say, if a person gets an education they will leave and never...

Pisa Tests to Include “Global Skills” and Cultural Awareness

Andreas Schleicher June 1, 2016
Cross-border transactions – knowing how to deal with people of other cultures in equitable, sustainable ways – contribute to prosperity and security. The Pisa tests from the Organisation for Economic Co-operation and Development may add global skills to the tests in math, reading and science by 2018. Education can help “children develop a reliable compass, the navigation skills and the character...

Battle Lines Against American Tech Giants

Farhad Manjoo June 1, 2016
Technology, including smartphones controlled by US companies Apple and Google, allow instant global connections that thwart efforts in nations like France to protect film, music and other industries. Amazon, Facebook and Microsoft also develop tech products indispensable for businesses worldwide. The global reach of such companies is prompting local backlash and fragmentation. “European...

Nature’s Answer to Climate Risk

Maria Damanaki May 31, 2016
About half the world’s people live near coasts, and climate change is putting their livelihoods at risk. A risk assessment report from the World Economic Forum points to “failure to adapt to the effects of climate change as the single greatest risk, in terms of impact, to societies and economies around the world,” explains Maria Damanaki, global managing director for oceans at the Nature...

6 X-Factor Risks Keeping Fund Managers, Investors Up at Night

Marcus Padley May 27, 2016
Global fund managers responding to a monthly Bank of America Merrill Lynch survey identify and rank risks that could cause an abrupt and abnormal drop in global markets. Britain’s possible exit from the European Union tops the list for May. Second, an ongoing concern is the risk of devaluation and defaults in China. Another ongoing concern is quantitative failure, “that trillions of dollars...