In The News

Tough Road Ahead

Nayan Chanda November 7, 2008
The US, as the world’s largest economy, is inextricably linked into the global economy. Foreign observers anticipate a new spirit of cooperation emerging from Washington, and Barack Obama, as the next US president, must remind Americans that their ongoing prosperity has been rooted in the nation’s engagement with the world, notes Nayan Chanda, YaleGlobal editor, in his column for Businessworld....

The Glass Half Full

Nayan Chanda October 24, 2008
Neither candidate for US president, Barack Obama nor John McCain, wholly embraces globalization. McCain, a supporter of laissez-faire economics, emphasizes economic globalization, but not its “political and cultural components,” and his support base fiercely responds to the candidate’s message of “America first.” Meanwhile, Obama appeals to those who appreciate an international perspective and an...

A Lesson in the “Link”

Nayan Chanda October 16, 2008
Just as one foul ingredient can spoil a recipe, so can one sloppy procedure ruin reputations for any firm and its country. The most recent case: Chinese dairies trying to boost profits with melamine-tainted milk that went into all kinds of products, causing health problems for more than 50,000 children. It’s good business practice for companies to monitor their supply chains, down to the smallest...

The Virus of Greed

Nayan Chanda October 1, 2008
Global commerce depends on an odd combination of desires, the pursuit of profits and a need to please diverse customers. “The search for ever higher returns has driven traders and financiers ever since humans have learned to exchange goods or sought to grow their wealth through investments,” explains Nayan Chanda, editor of YaleGlobal in his regular column for Businessworld. Financiers on Wall...

Globalization and Politics

Nayan Chanda September 17, 2008
Faced with a battered American economy and a five-year high unemployment rate, US presidential candidates tend to slip into anti-trade mode. Piling blame on foreigners is convenient and attracts votes. But the US has misidentified the source of its economic woes, suggests Nayan Chanda in his column for Businessworld. Outsourcing is just one side of the coin of globalization; on the flip side,...

Carry On China

Nayan Chanda August 30, 2008
The decoupling theory suggests that China, in a league of its own, will expand voraciously on its own terms despite the beleaguered world economy. Although the Beijing Olympics demonstrated a superiority that supports this theory, China remains immutably linked with the world. Though China may want to remain the top global manufacturer, the nation cannot control foreign demand for manufactured...

Olympic Cloud

Nayan Chanda August 19, 2008
Over the past three decades, China has transformed its economy from drab and close-minded socialism to a creative energy that embraces global integration, notes Nayan Chanda in his column for Businessworld. China’s long history demonstrates that isolationist thinking, fear and rigid conformity do not contribute to a prosperous strong economy, prepared to wrestle with global problems. With...