In The News

The US approved a financial reform law that could nudge the rest of the world, especially Europe, into preventing another financial meltdown. In an interconnected system, fast action on regulating complex securities and speculation can set global patterns into play, as noted by Wolfgang Reuter: “Americans have established a benchmark. European banks that do business in the United States will now...

Can a country withdraw from globalization, or for that matter, give up democracy in order to benefit from global capital flow? In this column, YaleGlobal editor Nayan Chanda dissects the recent argument offered by Harvard economist Dani Rodrik, who suggests that “economic globalization, political democracy, and the nation-state are mutually irreconcilable.” Crises that disrupt global capital...

As Europe strives to bail out Greece and other nations in serious debt, global investors ponder the long-term effects of huge imbalances. The worry is that countries with massive debt like Spain and Portugal can weaken strongholds like Germany and France, reports an article in the New York Times. Economically strong countries that hold problem debt may be forced into restructuring plans even as...