In The News

The $2 Trillion Project to Get Saudi Arabia’s Economy Off Oil

Peter Waldman April 26, 2016
Saudi Arabia possesses about 20 percent of the world’s proven petroleum reserves is among the world’s largest exporters, reports OPEC. The oil and gas sector accounts for about half the country’s gross domestic product and almost 90 percent of the state budget, but a slump in oil prices has spurred the kingdom to reduce dependence on oil and act on diversifying the economy. Deputy Crown Prince...

A Tale of Two Countries

Nayan Chanda April 19, 2016
China and India each have their own methods for developing their industries, and Nayan Chanda reminds that a nation’s foreign direct investment, inward or outward, can achieve more than economic goals. The founding editor of YaleGlobal Online outlines differences between the approaches employed by China and India: “The main difference between the two is that one aims to grab cutting-edge...

How to Save Brazil

Luiz Felipe d’Avila April 18, 2016
Brazil, among the world’s 10 largest economies and the fifth most populous, is in political and economic turmoil. The president has been impeached and the Brazilian Senate will decide whether to proceed with a trial. Populist policies and a drop in commodity prices led to debt that is 70 percent of GDP. Political leaders must act swiftly to restore public confidence and reduce corruption...

Globalization Is Changing, Not Going Into Reverse

Minouche Shafik April 14, 2016
Globalization can't be expected to move at an even pace. Some aspects of globalization like trade growth and capital flows are slowing, explains Minouche Shafik for Financial Times, but others like communications are growing. She is a deputy governor of the Bank of England. Shafik adds that regional agreements are emerging in trade and financial areas because of mistrust of global approaches...

Going Global? Study Tata Steel First

Rajrishi Singhal April 8, 2016
Tata Steel is among a number of Indian firms selling foreign assets to repay debt or discontinue less profitable ventures, and the trends may signal India’s troubles with globalization, suggests Rajrishi Singhal. “Economic reforms and competitive pressures forced many Indian companies to expand operations overseas through acquisitions with either (or a combination) of three objectives in mind –...

China’s Future Challenge for the World Economy

Martin Wolf March 30, 2016
Economic policies in the world’s most populous nations, soon to be the world’s largest economy, affect the rest of the world. China’s rising corporate indebtedness could slow investment and lead to rapid depreciation, suggests Martin Wolf for Financial Times. China has a range of responses: following the West’s lead with increased borrowing to stimulate the economy, weakening the currency or...

Corruption Threatens Ukraine's Hard-Earned Freedom

Chris Miller March 14, 2016
The abrupt resignation of Ukraine’s respected minister of economy and trade, his refusal to “serve as a cover-up for covert corruption,” has triggered political crisis and an onslaught of recriminations about inept governance. More resignations may follow, and the crisis comes during a treacherous period as the West and Russia battle for influence over the country of 45 million. “Notably, the...