Covering Globalization: A Handbook for Reporters

Covering Globalization: A Handbook for Reporters

Covering Globalization: A Handbook for Reporters

Covering Globalization: A Handbook for Reporters


The first journalism textbook for reporters who cover finance and economics in developing and transitional countries, Covering Globalization is an essential guide to the pressing topics of our times. Written by economists from the Asian Development Bank and the International Monetary Fund as well as journalists who have worked for Dow Jones, the Financial Times, the New York Times, Fortune, and Reuters--and with an introduction by Nobel Laureate Joseph E. Stiglitz--this invaluable resource helps reporters write about subjects such as banking and banking crises, pension reform, privatization, trade agreements, central banks, the World Bank, sovereign debt restructuring, commodity markets, corporate governance, poverty-eradication programs, and the "resource curse."

Each chapter explains the basic economic principles and current thinking on a given topic and provides

• tips on what to look for when covering specific subjects;

• a way to structure business and economics stories;

• a way to use the Internet for reporting with links to more information online;

• extensive glossaries and much more.


Globalization has become a major subject of interest in both developing and developed countries. Reporters are now being asked not only to cover major events, such as the annual meeting of the International Monetary Fund and the World Bank and the periodic meeting of the World Trade Organization, but also to interpret what happens at those meetings within the broader debate on globalization. Indeed, media coverage already has played an important role in shaping the recent evolution of globalization. the media spotlight, including reporting trade agreements after the riots in Seattle at what was supposed to be the inauguration of a new round of trade negotiations in December 1999, helped validate many of the criticisms that had been leveled by the critics of globalization and provided some of the impetus for having the new round of trade negotiations focus on development.

While economic and business reporters naturally focus on economic globalization—the closer integration of the economies of the world as a result of the reduction of transportation and communication costs and the reduction of manmade barriers to the movements of goods, services, and capital throughout the world-there are other important dimensions to globalization: the spread of knowledge, ideas, ideology, civil society, and culture. These dimensions represent both some of the greatest virtues and some of the most important criticisms of globalization. Advocates of globalization see not only the increases in incomes but also the spread of democratic values. Opponents of globalization worry not just about the loss of jobs but about the loss of local culture.

Supporters of globalization point out that it enables each country to learn from the lessons of others. Critics point out that it has resulted in . . .

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