You are at: Home > News/Analysis, Page 6 ('08) | Previous | Next Posted: 14-18 Jul 08 Mandela at 90 makes call for poor: Nelson Mandela, the man credit- ed with ending apartheid in S Africa, who is affectionately called by his tribal clan name 'Madiba', has marked his 90th birthday by call- ing for the rich to do more for the poor, BBC News, 18 Jul 08 (Nobel bio | Mandela's site | The Elders) Coffee/tea break: Adam Smith's Edinburgh statue marks first major public monument--The father of modern economics is honored with a statue in the center of Edinburgh, the world's first major public monument to the 18th-century philosopher, Bloomberg, 4 Jul 08 (Artdaily photo | Rutherford's tombs--Smith | Karl Marx in London) Bios: Adam Smith | Karl Marx (Columbia and Britannica Concise Encyc via tfd.com) Context: Great economists and their times (Fed Res Bank of SF) Books: Wealth of Nations | Das Kapital and Communist Manifesto (Econlib and Gutenberg) Martin Feldstein: Beyond price stability--The challenges ahead: "In the US, we are now seeing major financial instability. The fin. mar- kets are dysfunctional in a way & to an extent that I have not seen in more than 25 years. Why did all of this happen, and what could the Fed (& other central banks) do about it?," asks fmr CEA chair, Bank for Intl Settlements (panel), 27 Jun 08 [pdf, courtesy Harvard] Martin Wolf: Lessons of the financial crisis -- "When I read these contrasting analyses of the 'subprime-cum-credit freeze' of '07/'08, I am reminded of the story in which 4 people are told to go into a dark room, hold on to whatever they find & then say what it is. One says it is a snake. Another says it is a leathery sail. A third says it is a tree trunk. The last says it is a pull rope. It is, of course, an elephant," says econ commentator, Inst Intl Finance, 12 Jun 08 Jim O'Neill: Current answers (and questions) about BRICs and the N-11--The BRICs story continues to be an important investment theme, and the N(ext)-11 concept also seems to be gaining traction. We created the N-11 concept to describe the next set of large devel- oping nations & to analyze their own BRICs 'potential', says GS global econ head, BRICs and Beyond (ch 12), posted by Goldman Sachs Nov '07 [pdf] Jagdish Bhagwati: Termites in the trade system--Many are mistaken in thinking that freeing trade through Free Trade Agreements is a good idea. FTAs, which are better described as Preferential Trade Agreements (PTAs), since they free trade for members only, is like freeing trade on a discriminatory basis, writes Coun.on For.Relations senior fellow, NY Sun, 2 Jul 08 (CFR book) Global markets stage fightback as US crisis fears subside: Asian and European equity markets punched back sharply on Thu, mirroring Wall St gains, on a dramatic drop in crude oil prices & receding fears of a US financial crisis, Agence France-Presse (courtesy Bangladesh- info), 17 Jul 08 IMF gloomy on growth, sees rising inflation threat: The global econ- omy is in a tough spot, caught bet. sharply slowing demand in many industrial nations and rising inflation everywhere, esp in developing nations, acc to the World Economic Outlook Update. Global growth is expected to slow significantly in 2nd half of '08, before recovering gradually in '09, IMF Survey, 17 Jul 08 Mark Mobius: Sir John Templeton -- One of the pioneers of invest- ing in emerging markets remembers his boss and mentor who died on 8 July at the age of 95, Time, 10 Jul 08 Venture capitalists around the globe identify pockets of tech innov- ation: US maintains lead, but Europe shows strength in life sciences & clean tech, while Asia shows strength in IT, Deloitte/Natl Venture Capital Assn, 3 Jun 08 [pdf] (Global venture capital survey) US unveils plan to aid mortgage giants: Federal officials offer sweep- ing proposal to help shore up Fannie Mae, Freddie Mac, by N Irwin & assoc, Washington Post (free registr reqd), 14 Jul 08 (Struggling mortgage lender IndyMac taken over by regulators) New governance indicators show nations making progress in govern- ance and in fighting corruption: The World Governance Indicators, which covers 212 nations/territories, is the 7th update. Results show strong improvements in various governance dimensions in nations incl Ukraine, Haiti, Argentina, Georgia and Tanzania. Others indicate deteriorations in several dimensions, incl Zimbabwe, Cote D'Ivoire, Belarus, Eritrea & Venezuela, World Bank, 24 Jun 08 Barry Eichengreen: Asian macro policy is out of kilter--Now, when inflation expectations threaten to become unanchored & the outlook for global growth is increasingly clouded, the need for a change in Asian policy mix is more urgent than ever, says UC Berkeley econo- mist, VoxEU, 19 Jun 08 Posted: 7-11 Jul 08 Sovereign wealth funds make progress in easing fears: The funds' representatives at a 2-day working session in Singapore made pro- gress toward voluntary guidelines aimed at easing fears of political interference, but details of such touchy issues as transparency are still to be finalized, Deutsche Presse-Ag.(courtesy M&C), 10 Jul 08 (Intl Working Grp | IMF--Norway's oil fund shows the way) Asian integration vital to growth and managing risks: A new study says the financial crisis of 1997/98 exposed the region's vulnerabil- ities and gave new impetus to regional cooperation. It highlights that Asia is less integrated in finance than in trade but fin. markets are now larger, deeper and more sophisticated than they were a decade ago, Asian Dev Bank, 7 Jul 08 Secret report: biofuel caused food crisis--Internal World Bank study delivers blow to plant energy drive, by A Chakrabortty, Guardian/ UK, 4 Jul 08 (WB author's bio and slides [pdf] | WSJ--Biofuels maybe not quite so bad, World Bank says) From our archive: Edward Lazear--Responding to the global food crisis: The increase in US corn-based ethanol output accounts for 7.5 pct points of 37% increase in corn prices over past year, while corn-based ethanol output outside US accounts for an extra 5.5 pct points. Adding the two sums up to 13 pct points of 37% increase in corn prices, or about 1/3 of increase. Since corn is only a small % of Global Food Index, we estimate that the increase in total corn-based ethanol output has pushed up global food prices by 1.2 pct points of 43% increase in global food prices, or about 3% of the increase over past year, Testimony--Sen. For Relations Cmte, 14 May 08 A Timilsina & J Dobbins: Shaping the policy priorities for post-con- flict reconstruction--The intl community has demonstrated its willing- ness to engage in post-conflict reconstruction in regions devastated by violence, civil war & other conflicts. But debate continues over the question of prioritization: Where should investments be focused & in what order should they be made?, Rand Policy Insight, Oct '07 Kenneth Rogoff: The world's runaway train--The global economy is a runaway train that is slowing, but not quickly enough. That is what the extraordinary run-up in prices for oil, metals & food is screaming at us. The spectacular & historic global boom of the past 6 years is about to hit a wall, says Harvard economist, Proj Synd (courtesy Daily Times/Pakistan), 8 Jul 08 Iran sanctions [pdf]: US officials report that sanctions have slowed foreign investment in its petroleum sector & denied parties involved in its proliferation/terrorism activities access to US fin. system. But other evidence raises questions about the extent of reported impacts, Govt Accountab.Ofc, 18 Dec 07(EIA briefs: Iran | Strait of Hormuz) G8 wants broad UN deal to halve emissions: The G8 leaders said they want to work with the nearly 200 states involved in UN climate change talks, with the goal of halving greenhouse gas emissions by 2050. The final climate communique puts the focus of fighting global warming on UN-led talks and papers over differences within the G8, Reuters (courtesy B92/Serbia), 8 Jul 08 New global trends--Global warming: "China, India & their peers are under pressure to commit to cut emissions by a given percentage by 2050. The commitments they are being urged to make ignore the fact that their per capita emissions are much lower than in developed economies. An equal emissions entitlement per person is, in their view, the minimum requirement for fairness," The Growth Report, 21 May 08 [pdf] Companies from emerging markets are redefining the rules for com- petition in their home markets: A new report says that, unlike other cos. that are deciding to go global, 'local dynamos' are opting to stay home instead, at least for now. The 50 cos. listed are from China, India, Brazil, Mexico & 6 other nations, Bost Consult Grp, 6 Mar 08 (50 Local Dynamos [pdf, 1.4Mb]), G8 leaders locked in tense Africa talks: The first day of the summit in Hokkaido is dominated by Africa, as leaders of S Africa, Tanza- nia, Algeria, Ethiopia, Ghana, Nigeria, Senegal and African Union Commission meet face to face with G8 leaders, Lond Times, 7 Jul 08 (Independent/S Afri | DATA report) Colin Bradford: Beyond the G8--Will the West include the Rest?: By 2050, 8 of the 9 bln people on earth will be from non-Western nations, and only 1 bln will then be from the West. The G8 summits purport to deal with global challenges, but the global majority is not there - not today, and certainly not in the future, notes fmr USAID chief economist, Brookings, 2 Jul 08 (New players, new rules) Lawrence Summers: A strategy to promote healthy globalization--The domestic part of a strategy to promote such a globalization must rely on strengthening efforts to reduce inequality and insecurity. The intl part must focus on the interests of working people in all nations, in addition to the current emphasis on the priorities of global cos., says Harvard economist, FT (courtesy Harv), 4 May 08 (US needs to make a new case for trade) Bank releases a comparison of purchasing power around the globe: Oslo, London and Copenhagen are still the 3 most expensive cities, and Dublin has jumped to 4th spot. A new survey published every 3 years compares prices, wages, working hours and the resulting pur- chasing power in 71 cities around the world, UBS, 18 Mar 08 Posted: 1-4 Jul 08 From our archive: What's the most extreme emerging market on earth? Extreme investing--Inside Colombia: An improbable journey from crime capital to investment hot spot. Can this boom last?, by R Farzad, BusinessWeek, 28 May 07 Joseph Stiglitz: Stagflation redux--Rising prices amid a sputtering economy? We've been here before. Here's how businesses should prepare, says Nobel laureate, Inc Magazine, Jun '08 World Bank Pres. to G8--'World entering a danger zone': WB Pres. Zoellick has called on G8 leaders as well as major oil producers to act now to deal with surging food and energy prices, warning that the world is now 'entering a danger zone', World Bank, 2 Jul 08 (G8 Summit in Japan) Top 100 public intellectuals: Rankings are an inherently dangerous business. Whether offering a hierarchy of nations, cities, or colleges, any such list is likely to generate debate. During nearly 4 weeks of voting, more than 500,000 people came to our site to cast their bal- lots for this list, Foreign Policy, Jun-Jul '08 ('How could you not include...') The world's best investment, acc to top economists: A panel of 8 top economists, incl 5 Nobel laureates (Bhagwati, Bourguignon, Stokey, and Nobelists Kydland, Mundell, North, Schelling and Smith) was asked: If an extra $75 bln were at their disposal over a 4-year initial period, what would be the best ways of advancing global welfare, esp that of developing nations?, Copenhagen Consensus, 30 May 08 Price surge driving some countries close to tipping point: The impact of surging oil & food prices is being felt globally but is most acute for poor nations that are highly dependent on imports of oil & food. The challenge is to protect the poor from price shock while maintaining economic stability, IMF Survey, 1 Jul 08 (EU conf--Who will feed the world?) Shake up for Asia/Pacific global delivery locations reveals new per- spective on offshoring destinations: Results from latest Global Deliv- ery Index indicate changes in the market for global locations. Banga- lore is no.1, followed by New Delhi, Manila & Beijing, IDC, 24 Jun 08 (T-o-cont. only: 2nd tier | 2007 | Top 10 in 2011) The unsustainable has run its course and policymakers face the diffi- cult task of damage control: The fundamental cause of today's prob- lems in the global economy is excessive and imprudent credit growth over a long period. This always threatened 2 unwelcome outcomes: a rise in inflation & an accumulation of debt-related imbalances, BIS, 30 Jun 08 (Emerging markets) One Laptop meets Big Business: The big idea of giving PCs to poor children has been challenged by educators & biz. The outfit begun by a former MIT Media Lab dir no longer predicts mass adoption in short order, but remains confident that OLPC can have a major im- pact, by S Hamm & assoc, BusinessWeek, 5 Jun 08 New trade indicators show falling trade barriers & strong trade per- formance: A newly-launched unique database & ranking tool allows benchmarking/comparisons among 210 nations/customs territories. The easy-to-use web-based tool, World Trade Indicators, is aimed at helping policymakers/negotiators, World Bank, 17 Jun 08 (Rankings) German company stops bank note shipments to Zimbabwe: A Mu- nich firm, facing intl criticism, agreed to stop delivering paper used to print money to the nation's central bank. The firm is believed to have supplied about half of Zimbabwe's currency, Deutsche Welle, 2 Jul 08 (Co. statement) Posted: 23-27 Jun 08 Daniel Yergin: Oil at the Break Point--The answer to the oil shock is not 'either-or'. We need an ecumenical approach -a combination of new supplies, renewables, and greater efficiency- all developed with appropriate environmental & climate change considerations in mind, says CERA chair, Testimony-US Cong. Joint Econ Cmte, 25 Jun 08 Richard Florida: Megaregions - The importance of place--Nations have long been considered the fundamental economic units of the world, but that distinction no longer holds true. Today, the natural units -and engines- of the global economy are megaregions, cities & suburbs grouped together, at times spanning national borders, Har- vard Bus. Rev (courtesy author's site), Mar '08 (NYT Krugman--Mega skepticism | Buffalo NY case--Glaeser and Florida) [pdf] The challenges of planning ahead for growing cities in developing na- tions: What makes a livable & vibrant city? Why is it that some cities attract business and innovation where others fail? What can cities do to reduce their environmental footprints & plan ahead for expected population growth?, World Bank, 19 Jun 08 (World Cities Summit) Richard Florida: The league of extraordinary mayors--Small states, big ideas: Cities, regions and mega-regions composed of 2 or more cities and their suburbs have become competitive players alongside global cos. & nation states. Canada & US, eg, are not competing vs China & India. Rather, specific regions in N America are competing with regions like Bangalore and Shanghai, says U Toronto Inst dir, Globe & Mail/Can. (courtesy author's site), 30 May 08 [pdf] Study offers ways to help N Korea peacefully modernize its political, economic structure: An unprecedented joint report by researchers from US, China, Russia, Japan and S Korea recommends a new ap- proach to promoting the nation's modernization. The study does not advocate regime change, noting that without its modernization, nor- mal relations with the outside world will not be possible, Rand, 10 Mar 08 An economist who matters: It's late May, and we are in surprisingly sunny Denmark for a Copenhagen Consensus summit. Robert Mun- dell is one of 8 economists debating cost-effective solutions to such problems as malnutrition and global warming. Europe is a natural enough place to meet the Ontario native, and not only because of his advocacy for the euro, by K Wingfield, Wall St Journal, 21 Jun 08 Steve Hanke: Commodity snatchers--Govt buffer-stock schemes are rife with politics and instead of generating profits from buying low & selling high, they tend to generate losses. The mother of all buffer-stocks is the US Strategic Petroleum Reserve, which market-based release rules could transform into an oil bank, Forbes, 20 Jun 08 Reconstructing Zimbabwe: In a WEF session, four leaders of Zim- babwe discuss the nation's current crisis and future reconstruction, World Econ Forum, 6 Jun 08 (UN Security Council | Kofi Annan | CGDev: After Mugabe--In brief and full text) IMF chief discusses regional outlook with finance ministers from N and S America: In the First Encounter of Finance Ministers of the Americas, Strauss-Kahn voiced concern that headline inflation has continued to rise and, in most nations in the region, core inflation has also picked up, raising the danger of 2nd-round effects, incl through wages, Finchannel (Georgia), 25 Jun 08 (Can.fin min--Cancun meet) World's high-net-worth population now at 10.1 mln, with India, China and Brazil having the highest increase: Impressive growth of emerging markets was boosted largely by thriving export sectors and heightened domestic demand, with the BRICs driven by impressive economic gains and robust market capitalization growth, acc to new report, Merrill Lynch/Capgemini, 24 Jun 08 China knocks Western Europe from top spot for FDI 'attractiveness': The 'perceived' attractiveness of Europe & its competitors by foreign investors is based on the views of a panel of around 800 intl execs. But perception has yet to match reality, with Europe receiving 40% of foreign direct investment, Ernst & Young, 5 Jun 08 Oil price up despite Saudi pledge: Oil prices have risen after emer- gency talks among the world's top oil powers and leading consuming nations over the weekend. The rise came despite Saudi Arabia's promise to increase output by an extra 200,000 barrels a day from July, BBC News, 23 Jun 08 (IEA--Before the talks [pdf] | Jeddah Meeting | Joint statement) << Previous Home Next >> Copyright (c) 2001-2009 Leonardo L. Sta. Romana All rights reserved. |
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