A.S. BHALLA is David Thomson Senior Research Fellow at Sidney Sussex College, University of Cambridge, UK. Previously he was Special Adviser to the President of International Development Research Centre (IDRC), Ottawa; a senior staff member of the International Labour Office in Geneva and a founder member of its World Employment Programme. Dr. Bhalla has held research and academic positions at the Universities of Yale, Manchester and Oxford. FRÉDÉRIC LAPEYRE is a member of the Institute of Development Studies at the Catholic University of Louvain, Louvain Le Neuve, Belgium. He has worked as a consultant to the European Commission, the International Labour Office and the European Trade Union Confederation. He has written several articles on development and globalization issues.