In The News

Unravelling Free Trade

Nayan Chanda April 9, 2009
The G-20 leaders, though accustomed to protests and denouncements, may find resisting protectionism even more arduous. But with the International Labour Organization forecasting a loss of 50 million jobs globally due to the current recession, refraining from protectionism is precisely what is required. Thus far, however, only three countries from the G-20 have kept their pledge to refrain, while...

The Ties That Bind

Nayan Chanda February 26, 2009
Globalization has suffered two setbacks. First, skyrocketing prices for oil and the financial crisis which destroyed trillions of dollars of wealth and sent the whole world into a recession. Evoking World War I and the Great Depression, observers such as Financial Times columnist Martin Wolf suggested that the economic crisis will stoke protectionism and nationalism and therefore halt...

Fragile Yet Indispensable

Nayan Chanda January 5, 2009
Damaged fiber-optic cables along the Mediterranean seabed cut internet access for almost 100 million users, and the sudden absence highlighted the service’s importance in the modern world, explains Nayan Chanda, YaleGlobal editor, in his regular column for Businessworld. Modern business increasingly relies on exponential speed and volume of communications, and Chanda explains that “all aspects of...

Wheels of Recession

Nayan Chanda December 22, 2008
Intricate global links among industries and suppliers mean the failure of one industry can be devastating for many others around the globe. “Outsourcing and off-shore production have changed the ecosystem of auto production so dramatically that the fate of millions of jobs all over the world hinges on a decision in Washington,” writes YaleGlobal editor Nayan Chanda in his column for Businessworld...

India’s Global Challenge

Nayan Chanda December 5, 2008
Though perpetrated by people linked with Pakistani groups, the nature of the Mumbai attacks show that India is not just connected with Pakistan; according to YaleGlobal Editor Nayan Chanda, “India’s fate is bound together with the rest of the world.” These attacks have for the first time brought India face to face with terrorists with a global agenda and a global impact. With these attacks, India...

The Local Syndrome

Nayan Chanda December 3, 2008
The global economy is in a shambles, due to a credit crunch, uncertain values of homes and other assets, and complex loan packages that few people understand. US President George Bush convened a meeting of 20 major economies and acknowledged that emerging economies like China, India and Brazil deserve a role in any institutions that monitor the global economy, that protectionism and nationalism...

Obama’s Global Tryst

Nayan Chanda November 24, 2008
President-elect Barack Obama enters office as the globe confronts grave economic crisis. He must continue supporting free trade, but at the same time assist hundreds of thousands of Americans who struggle with job loss, falling home prices and foreclosures, and immense economic uncertainty about health care, energy and other resources. At the same time, Obama must manage two wars, one he promised...