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Environmental pollution and extremely poor air quality in New Delhi, India, and Beijing, China
12/26/2012
Linked Articles
Wall Street Journal 01/16/2013
Indian City Overwhelmed by Air Pollution â New Delhi JournalNew York Times 12/26/2012
U.S. Fed chairman Bernanke's activist interest rate policies to tackle high unemployment and central bankers from MIT
12/12/2012
A pragmatic activist focus in economic thinking shaped at the MIT economics department in Cambridge, Masachusetts. The ECB's Mario Draghi, Bank of England's Mervyn King, and Bernanke shaped their thinking at MIT. Draghi and Bernanke had the same PhD. advisor- Stanley Fischer. Factors calling for a pragmatic approach include the lack of political agreement on th deficit, the housing and foreclosure crisis effects, higher inequality and unemployment effects on the middle class, the effects of the globalized economy on working class manufacturing jobs, people dropping out of the labor foce, and lower inflation, which called for a larger focus on unemployment. Bernanke emphasized the "enormous waste in human potential and productive resources of the economy" throughout 2009-2012. Draghi emphasized the abnormal nature of excessive borrowing interest rates for Italy and Spain during the ECB's bond buying efforts in 2011-2012. Both efforts had a stabilizing effect on the economies of the U.S. and Europe during a period of political discord about future policy.
Linked Articles
Wall Street Journal 12/13/2012
MIT Forged Activist Views of Central Bank Role and Cinched Central Bankers' TiesWall Street Journal 12/12/2012
The dealmaking that is needed to build an agreement on deficit reduction- the challenge for Obama and Republicans
11/10/2012
The need for Obama and Republicans to build on proposals by Romer, Simpson-Bowles, Toomey, Hensarling, Feldstein, Romney Conrad and others to put dealmaking ahead of futile ideological battles. This would be good for the country and good for jobs and growth, good for building a strong middle class economy.
Linked Articles
Budget Showdown Offers an Opportunity for Progress
New York Times 11/10/2012
Obama the DealmakerNew York Times 11/12/2012
The part-time low wage jobs generated by the American economy in recent years, especially since 2008
11/06/2012
The biggest challenge facing the American economy is high unemployment and the lack of well paying jobs that formed the core job base of the middle class. Jobs generated since 2008 are largely low wage part-time work in retail and related industries. Wages have also fallen sharply in manufacturing industries as the U.S. competes with Asian manufacturers.
Linked Articles
New York Times 11/07/2012
A Part-Time, Low-Wage EpidemicWall Street Journal 11/06/2012
The EU debate between France's Hollande and Germany's Merkel before and during the EU's Oct. 2012 meeting
10/17/2012
The issue was direct aid to Spanish banks and the early setup of an EU banking supervisor so that Spain could get early debt relief as its economy struggles with high unemployment of over 25%. Chancellor Merkel turned down direct aid to Spanish banks, and partly relented on banking supervision by agreeing to have the legislation completed by Jan 2013 and the actual setup of the supervision authority during the course of 2013, probably after elections in Germany in Sept. 2013.
Linked Articles
German Refusal on Bank Aid Mars European Summit
New York Times 10/19/2012
Hollande fires warning shot at Merkel over austerity on eve of EU summit | World news | guardian.co.ukThe Guardian 10/17/2012
The perils for Turkey's economy with the surge in short term external debt of the private sector and the street protests in Istanbul
10/04/2012
Linked Articles
Syria Isn't Turkey's Only External Worry
Wall Street Journal 10/04/2012
Financial Fears Gain Credence as Unrest Shakes TurkeyNew York Times 06/05/2013
The new Jinping-Keqiang leadership and reducing pharmaceutical and healthcare costs to help consumers in China (1)
10/03/2012
After a decade of decline in consumer spending in favor of infrastructure spending to where it is now only 35% of GDP, or half that in the U.S. as a percentage of GDP, China's leadership realizes the need to help consumers. It is seen as high on the list of priorities for the Party's survival. Ordinary Chinese, rural households and the elderly are seriously affected by the high cost of healthcare and the need to set aside a large portion of savings for medical emergencies (Orlik). This further depresses consumer after the impact of low savings rates. With a bursting of the property bubble the money depositors shifted to real estate is also at risk for middle class investors.
Linked Articles
Wall Street Journal 10/03/2012
Politics Is a Bitter Pill for GlaxoWall Street Journal 07/25/2013
An assessment of Germany's Angela Merkel's 10 years in office (1)- from the eurozone crisis to Ukraine and the refugee crisis
09/25/2012
Linked Articles
Economist 11/11/2015
Matthew Kaminski: The Accidental Architect of a New EuropeWall Street Journal 09/25/2012
America's finest hour bringing a voice to the powerless (1)- ambassador Christopher Stevens in Libya and journalist John Foley in Iraq-Syria
09/15/2012
Linked Articles
In Fear and Violence, Slain U.S. Journalist Found Humanity
Wall Street Journal 08/21/2014
An American Ambassador Who Plunged Into Arab LifeNew York Times 09/15/2012
Greece's Path Back (5)- Negotiation after Negotiation for a Greece that "is really bleeding" 2011-2012
08/24/2012
Linked Articles
France, Germany Unify Approach to Greek Talks
Wall Street Journal 08/24/2012
Europe Gives Greece Two More Years for Budget CutsNew York Times 11/12/2012
The view that with P5+1 talks with Iran ending in no agreement, the crisis with Iran is reaching a critical stage in August 2012
08/06/2012
Israeli views on the continued development of nuclear weapons capabilities by Iran in the face of tightened sanctions and diplomatic efforts. Oren and Yadlin see this has having reached a critical stage before military action.
Linked Articles
Get ready to fight Iran - The Washington Post
Washington Post 08/18/2012
Time Is Short For Iran DiplomacyWall Street Journal 08/06/2012
The costly software failure that cost U.S. brokerage house Knight Capital $440 million with erroneous orders on August 1, 2012
08/02/2012
Software that was introduced without proper testing by management at Knight Capital resulted in a blizzard of wrong orders going out on August 1. This led to suspension of trading on the New York Stock Exchange after identifying Knight Capital as the source.
Linked Articles
Trying to be Nimble Knight Capital Stumbles
New York Times 08/02/2012
Knight Capital Says Trading Glitch Cost it $440 MillionNew York Times 08/02/2012
Spain macroprudential supervision of its banking system once lauded now turns out to be "timid" and false, could the same be true for China?
07/18/2012
Spain's central bank had a reputation of providing good supervision for Spain's banking system. The problems at the Cajas Savings banks and the current assessment after the request for $125 billion in EU funds for Spain's banks shows how this turned out to be false. Does China face a similiar problem with its housing bubble. The U.S., UK and Spain, failed to control and manage the effects of a housing bubble, can China be a lone exception? Rapid growth enabled China to cope with bad loans in the banking system, with slower growth, a weak European market for exports, and a stimulus that is about one eighth the size in annual investment- one trillion yuan over 4 years in the current stimulus compared to 4 trillion over 2009-2010 in the last stimulus plan. Can China manage this bubble, does it have the experience managing this type of problem or has it papered over the problems as Spain did? This has repercussions for industries and countries from the export sector in Germany, Australia and Brazil to industries such as the German automobile industry, and companies such as Caterpillar.
Linked Articles
As China’s economy slows, real estate bubble looms - The Washington Post
Washington Post 10/03/2012
Spanish Official: Slow Reaction to CrisisWall Street Journal 07/18/2012
The Swiss central bank's effort to keep Swiss Franc at 1.20 to the dollar and Japan's Abe government's push for the yen at 90 to the dollar
12/25/2012
A determined effort by the Swiss National Bank to preserve export competitiveness as eurozone economies contract in 2013, by printing francs and buying up euros and foreign assets. The effort is designed to counteract declining wages and prices in Switzerland. The newly elected Japanese prime minister Shinzo Abe supports aggressive action by Japan's central bank to keep the yen between 85 yen and 90 yen to the U.S. dollar.
Linked Articles
Wall Street Journal 12/25/2012
Button-Down Central Bank Bets It AllWall Street Journal 01/09/2013
China's steadily growing automobile market in 2014-2015 (1)- expanding dealer networks to Tier 2 and 3 cities by Ford Motor and Mercedes Benz
11/23/2012
China's television channel CCTV focusses on consumer issues in its program 315. VW was a focus of one of the reports on consumer issues. Problems in the U.S. for GM and Toyota are likely to keep the focus on other auto companies as well.
Linked Articles
Wall Street Journal 04/25/2014
Ford Expands Dealer Network in ChinaWall Street Journal 11/23/2012
Obama's second term- (1) history of U.S. presidents and foreign policy failures in Syria-Iraq of U.S. president Obama
11/07/2012
Linked Articles
Wall Street Journal 11/08/2012
Triumphant Obama Faces New Foe in Second-Term CurseNew York Times 11/07/2012
German chancellor Merkel and the EU plan for aid to Spain's banks in Oct. 2012
10/18/2012
Merkel turns down an effort pushed by France and Spain at the Oct. 2012 EU leaders meeting for direct aid to Spanish banks. Instead money has to go from the European Stability Mechanism fund to Spain after a request by Spain for aid. The aid request by Spain would be met under program of conditionality set by the IMF, EU and ECB. Spain is delaying a request for aid as borrowing rates on Spanish bonds declined to about 5% by late October 2012. The Rajoy government in Spain faces regional spending problems and separatis sentiment in addition to high unemployment and a worsening situation with its banks. Merkel faces elections for chancellor in Germany in Sept. 2013 and says more time is needed to setup the eurozone banking supervisory authority- to be set up in the course of 2013 with the legal setup completed by Jan 2013 as a concession to France. This would push banking supervision and financial architecture till after the election.
Linked Articles
German Refusal on Bank Aid Mars European Summit
New York Times 10/19/2012
Europe Seeks a Spain StrategyWall Street Journal 10/18/2012
Dangers facing Turkey's economy with its dependence on foreign capital inflows and excessive growth in domestic credit for growth
10/04/2012
Foreign capital inflows that partly support the sharp growth in domestic credit could slow or reverse as happened in the 1997 Asian financial crisis. The IMF sees a credit to GDP ratio of over 5% as a warning light for developing economies. The IMF forecast is for this rato to be 7.28% for Turkey in 2103.
Linked Articles
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Syria Isn't Turkey's Only External WorryWall Street Journal 10/04/2012
How uncertainty related to the "fiscal cliff" in the U.S. is affecting the U.S. economy as business holds off on investment and hiring
10/03/2012
Linked Articles
Firms Hit Brakes Before Fiscal Cliff
Wall Street Journal 10/25/2012
Small Businesses Fear Fiscal Cliff Awaits at Year-EndWall Street Journal 10/03/2012
What a difference a year makes for the government bonds of Italy and Spain
10/02/2012
ECB chief, Mario Draghi made the famous statement on July 23, 2012, that he would "do whatever it takes" to bring down the yields on the government bonds of Italy and Spain. These bond yields had reached 7.5%, worsening the debt position of the two countries. A year later in August 2013 the bond yields were down, the gap with German bond yields narrowed, and the first signs of recovery in the eurozone made investment in the bonds of Italy and Spain attractive. Emerging market debt faced the opposite of what they faced in July 2013, as the currencies of India, Indonesia, Malaysia, Turkey, Brazil and other developing countries depreciated significantly. As the U.S. Federal Reserve begins its pull back from its monetary easing policy capital flows and foreign investment to to emerging markets reversed causing grief in countries which depended on these inflows to finance deficits in the current account.
Linked Articles
How ECB Chief Outflanked German Foe in Fight for Euro
Wall Street Journal 10/02/2012
Europe Bonds May Offer More ValueWall Street Journal 08/23/2013
Indian prime minister Singh's economic plan in the face of slowing growth in 2012
09/21/2012
In a televised address Singh says the market opening measures for the retail and other sectors are needed to maintain growth and foreign investment. Finance minister Chidambaram tells the WSJ in an Oct 2012 interview- the risks were too great with India facing a lowering of its credit rating, and the government having reflected on the serious consequences of not acting spelled out in the worst case scenario of the Kelkar committee report. The Indian government actions include lowering diesel subsidies and action to control the deficit, with a plan to bring it down to 3% by 2017.
Linked Articles
Q&A With Finance Minister Chidambaram
Wall Street Journal 10/08/2012
Singh Appeals to India to Support His MeasuresNew York Times 09/21/2012
Japan's view of relations with China- Ishihara and Abe (1)
08/28/2012
Linked Articles
Shinzo Abe's History Lesson Haunts Davos
Wall Street Journal 01/29/2014
Tokyo Governor Talks Tough on IslesWall Street Journal 08/28/2012
Lenovo's effort to increase smartphone sales in China and emerging markets
08/14/2012
Lenovo is positioning itself to become the dominant smartphone company in China, second only to Samsung. It is creating a brand presence in China's rural areas for PC's and mobile devices which is likely to further enhance sales. This effort extends to other emerging markets in Asia such as India and Indonesia. Other strategic decisions include bringing in more manufactuing in-house compared to competitors HP and others in the PC industry.
Linked Articles
Wall Street Journal 10/25/2012
HTC Beefs Up China Push as U.S., Europe LagWall Street Journal 08/14/2012
Friedman, Avraham Burg and Morsi- on the way forward for moving beyond the intractable to the possible in the Middle East
08/04/2012
The democracy movement in the Middle East and the yearning for economc and political participation of the people of the Middle East creates new opportunities to move forward beyond the conflicts of the past to a better future for the people of the Middle East. The role of leaders in the U.S., Europe, and the Middle Eastern countries of Egypt, Turkey and the newly democratic states in this region in setting new goals and plans and rising up to the challenges.
Linked Articles
New York Times 11/24/2012
Israel's Fading DemocracyNew York Times 08/04/2012
The failure of India's power grid in 2012 and the need for investment in power plants and energy sources
07/31/2012
Linked Articles
Power Failures Hit Millions in India
New York Times 07/31/2012
India's Power Network Breaks DownWall Street Journal 08/01/2012
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