The Obama administration surely negotiated the TPP in good faith, and the accord would likely add to global and U.S. economic growth. This is not a pernicious accord, the fruits of a secret cabal as some have feared. Nor is globalization an evil to be fought tooth and nail. The sad truth, however, is that while the administration promised a 21st-century agreement, we have yet another late 20th-century agreement.
SINGAPORE -- This summer, for the first time, financial turmoil in China created turbulence around the world and even hit New York. This was an historic event and is a portent of things to come. Yes, China fumbled. It could have avoided certain obvious mistakes which many saw coming, but the Chinese will learn from it. What the episode shows is how the relative weights are shifting in the world way beyond just trade.
TOKYO -- As Shinzo Abe sat down this week in Seoul with South Korean President Park Geun-hye and Chinese Premier Li Keqiang, he did so as the leader of a country that many people around the world now seriously underestimate. That dynamic certainly was felt during the three Northeast Asian powers' first summit since 2012.
Doing business today requires a global mindset as we increasingly interact with customers, vendors, employees, and colleagues from many countries and multiple cultures. Key strategies for developing that mindset are shared by colleagues at the Institute for Cross Cultural Management (ICCM) at the Florida Institute of Technology.
BEIJING -- It is clear that China will be one of the major economic engines in the first half of 21st century with projected outward investments of 500 billion dollars and outbound tourists of over 500 million for the next five years. "Made in China," Chinese capital, China's market and Chinese consumers will be hallmarks in the new round of economic growth of the world.
Investors have lost faith in Brazil, and rightfully so. The currency has lost 36% of its value against the U.S. dollar this year, plunging nearly 7% in the last week alone. Yields on its bond issues are spiking, as investors demand higher and higher rates to loan Brazil or Brazilian companies money.