The global economy thrives on globalization and the increasing interdependence of finance, production, consumption and trade. Such integration has reduced poverty, yet varying national policies along with ever-increasing speed of transactions and market news have also contributed to imbalances, both among nations and within. Regulations often do not keep pace in managing cross-border debt, foreign direct investment, corporate practices, tax codes or economic bubbles. The eurozone crisis and the US subprime mortgage crisis have demonstrated that one nation’s problems and panic can spread like wildfire. Nations must combine a competitive spirit with cooperation to achieve stable economic growth and sustainable prosperity.

Exploding the Myths of Offshoring

Far from damaging the economy of the United States, offshoring should enable its companies to direct resources to next-generation technologies and ideas - if public policy doesn't get in the way.
Martin N. Baily
July 1, 2004

Cashmere Moves on, and Scotland Feels a Chill

Scottish cashmere industry threatened by low-cost Chinese manufacturers
Allan Cowell
March 27, 2004

Terrorism Could Cost East Asia 3% in Growth over 5 Years: Study

Australian report sees economic impact lasting up to 10 years or more
Donald Urquhart
June 22, 2004

Death Knell for Cross-Border Leasing Deals

Closure of loophole in U.S. tax law means German municipalities lose financing instrument
Heidi Sylvester
June 25, 2004

US Troop Pullout Will Hit South Korean Economy

Entertainment industry, in particular, fears shutdown of businesses; thousands employed by US military may also lose jobs
Lee Tee Jong
July 13, 2004