In The News

Taming Globalization? Kebabs, Mini-Skirts and Meth – Part II

Ilaria Maria Sala May 20, 2010
Citizens around the globe understandably want to honor and protect their culture, expressed through language, food and art, from “foreign” influence – although such influences were often essential in creating traditions. The second article of this two-part series examines Italy’s battle against globalization, as politicians scramble to outdo one another with populist laws aimed at banning foreign...

Fears Intensify That Euro Crisis Could Snowball

Nelson D. Schwartz, Eric Dash May 17, 2010
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...

American Made…Chinese Owned

Sheridan Prasso May 13, 2010
Chinese companies are increasing US investments and adding jobs, particularly throughout the conservative South. Wages still remain high by Chinese standards, but land is cheap and energy is reliable. In a cover article for Fortune Magazine, Sheridan Prasso reports that more than 30 states, ports and municipalities have hired representatives and offered tax incentives to lure Chinese companies...

Renminbi Revaluation Won't Trigger a Shopping Spree

Zhiwu Chen May 12, 2010
Many economists and policy analysts maintain that resolving huge trade imbalances is easy – the Chinese government should just let the renminbi appreciate. But that quick fix won’t do much, contends Zhiwu Chen, professor of finance with the Yale School of Management. Revaluing the renminbi would shift manufacturing to other low-cost Asian nations, without spurring Chinese spending on US goods or...

Lessons From Athens

Nayan Chanda May 12, 2010
Carefree spending on borrowed funds is not sustainable. Europe could not handle fast assistance to debt-laden Greece on its own and had to turn to the International Monetary Fund for additional financial support. Eurozone nations and the IMF imposed stringent conditions, and future borrowing by the Greeks will carry heavy costs. “The same global liquidity that can fuel growth can also evaporate...

Greek Crisis and the Future of the European Union – Part II

Jean-Pierre Lehmann May 7, 2010
Internal divisions can endanger any union more than external threats. Mistrust – a lack of shared basic values or vision – can decimate cooperation, explains Jean-Pierre Lehmann, professor of political economy, in the second article of a two-part series analyzing the Greek debt crisis. Lehmann describes Greece’s immense debt load, the history of corruption, and their effect on the European Union...

Greek Crisis and the Future of the European Union – Part I

Jonathan Fenby May 5, 2010
Membership in the 16-nation euro zone was supposed to boost Europe’s wealth – but the debt crisis in Greece reveals how a weak link in the chain could also risk spreading misery. Deeming Greece, a nation of 10 million, “too big to fail,” EU members scramble to put together a bailout package. Meanwhile, Greeks take to the streets, burning EU flags and protesting austerity measures, with three...