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jerryking : developed_countries   16

Pimco’s Strategy for Life After Gross: Go Beyond ‘Bonds and Burgers’ - WSJ
By JUSTIN BAER
Updated Nov. 7, 2016

The 53-year-old Frenchman, who joined Pimco in the past week, intends to push it deeper into hedge funds, real-estate assets and other alternative investments, people familiar with the matter said. With interest rates in much of the developed world near zero, those kinds of investments are in demand from pensions, endowments and other clients. They are also among the types of funds that command higher fees.

Investing in bonds, loans and other forms of debt securities will remain Pimco’s focus, but Mr. Roman will aim to build out capabilities in areas ranging from private credit to quantitative investments based on computer models, the people said.....Pimco, a subsidiary of German insurer Allianz SE, believes the gradual shift into alternatives is its best bet to ride out what many industry executives expect will be a brutal shakeout for asset managers. Tepid returns and the surging popularity of cheaper investment options, including exchange-traded funds, have pressured managers to lower fees.
Pimco  CEOs  alternative_investments  asset_management  capabilities  money_management  ETFs  shakeouts  interest_rates  developed_countries  low-interest  developing_countries 
november 2016 by jerryking
Too much stuff, with no one to buy it: Is this the future economy? - The Globe and Mail
Scott Barlow
Too much stuff, with no one to buy it: Is this the future economy?
SUBSCRIBERS ONLY
The Globe and Mail
Published Tuesday, Feb. 02, 2016

University of California professor Brad DeLong’s “Economics and the Age of Abundance” highlighted the new economic study of global production growth – a new-ish school of thought that attributes much of the economic malaise in the developed world to a technology-driven “too much of everything.....The economic challenges of abundance, however, go far beyond commodities. There’s too many mutual funds, television channels, cereal brands, auto companies (China hasn’t even started exporting cars and trucks yet), land-line telephones, clothing brands, taxis, department stores and, if we’re being honest, journalism. Technology and its ability to increase productivity are to blame for virtually any major market sector beset with poor profit margins and layoffs. ....... The larger problem, and I suspect Mr. DeLong would agree, is that technology increases efficiencies and reduces the need for labour. A dystopian future in which anything can be produced quickly and cheaply, except everyone’s unemployed with no money to spend, is easy to envisage without considerable structural change in the economy.

Unemployment is the most severe outgrowth of abundance and low profitability ....... ......
abundance  economics  economists  Colleges_&_Universities  oversupply  technology  commodities  over_investment  scarcity  innovation  China  productivity  deflation  manufacturers  outsourcing  unemployment  job_destruction  job_displacement  downward_mobility  hollowing_out  books  developed_countries  dystopian_futures  structural_change  developing_countries 
february 2016 by jerryking
ATTENTION TO DETAIL by Dave Martins and The... - Dave Martins and The Tradewinds
the two biggest concerns for me are, in macro, the Indian/black ethnic division, and, in micro, the widespread tendency to accept or even encourage the sub-standard. For someone who has lived in the developed world, for two or three decades, that discinclination or disability to pay attention to detail in the various aspects of our life, is a jolt, and adjusting to that difference is very difficult because it confronts one daily. ....It is a detail, but we don’t seem to have yet understood in Guyana that the difference between good and excellent is always, absolutely always, in the details. Here, we praise the overall structure and seem oblivious to the pieces left hanging.
More pivotally, the lack is across the board. It is not just in the things we build. It is in the presentations we give, in the shows we stage, even in the way we drive. It is rampant in the media. Without fail, every day, there are punctuation errors, or declensions wrong, or verb/subject disagreements in our newspapers, and the lack of attention to detail in how we say what we say infects the broadcast media as well..... A friend of mine, with an awareness of the problem, says that this lack of attention to detail is now part of our cultural make-up; it is a condition of who we are and what we are. It is Guyana’s sociology in 2013. Cynical as that may be, it is a contention to consider....
Guyanese  Guyana  politics  limitations  detail_oriented  ethnic_divisions  quality  standards  substandard  developed_countries  Dave_Martins  shortcomings  developing_countries  pay_attention 
december 2015 by jerryking
A crisis for many years, and many reasons, to come - The Globe and Mail
JEFFREY SIMPSON
The Globe and Mail
Published Saturday, Sep. 05, 2015

The reasons are easy to identify, the consequences extremely difficult to assess, the solutions complicated and uncertain.

Europe is politically stable and prosperous; Africa and the Middle East are not. Europe’s population is steady or declining; Africa and the Middle East have exploding numbers. Europe’s geography is not seriously affected by climate change; parts of Africa and the Middle East, already dry, are getting drier and therefore less fertile.

War is all but unimaginable in Europe; military conflict is a fact of life in Afghanistan, Iraq, Syria, Yemen, Libya. Human rights are respected throughout Europe (with a few exceptions); human rights are systematically abused by authoritarian and theocratic regimes in some African and many Middle Eastern countries. Women have made startling advances in almost every walk of European life; women are still discriminated against in too many parts of Africa and the Middle East.

These pressures pushing or enticing large numbers of people toward Europe will not disappear. If anything, they will intensify as the years go on, because climate change, demographic pressures, fierce intrareligious rivalries, the lack of respect for pluralism and a host of other entrenched realities will not bend to moral entreaties or military interventions from Western countries.
mass_migrations  refugees  crisis  Europe  failed_states  Jeffrey_Simpson  root_cause  Non-Integrating_Gap  Functioning_Core  emerging_countries  developed_countries  demographic_changes  decline  climate_change  religious_intolerance  migrants  human_trafficking 
september 2015 by jerryking
We can’t afford a postinstitutional society - The Globe and Mail
Mar. 11 2015 | The Globe and Mail |STEPHEN TOOPE.

Institutions matter. One of the markers of advanced industrial societies is their rich network of institutions that support good governance, ensure security, provide needed social services and foster educated work forces. There is a continuing debate in the developing world about whether strong institutions are needed for economic growth or whether they result from the achievement of a certain income level. What is not in dispute is that successful societies thrive with strong institutions and decay without them.

Crowdsourcing may enable a startup tech company to survive another day; it may help a sick child gain access to specialized medical care. It will never replace a stock exchange or build a health system that’s available to all.

Google may soon produce a car that can drive itself. But that car can function only if there are socially mandated rules of the road that allow programmers to know on what side of the street the car should run, and what to do at a red light.
institutions  rules_of_the_game  good_governance  developed_countries  institutional_integrity  chicken-and-egg  developing_countries 
march 2015 by jerryking
David Chilton’s rise from The Wealthy Barber to The Wealthy Dragon - The Globe and Mail
IAN MCGUGAN
TORONTO — The Globe and Mail
Published Friday, Jan. 23 2015,

Clips from the Wealthy Barber

On luck: “I’ve been incredibly lucky in life, and my health is my greatest gift. I don’t work out much, I love Nibs and Diet Pepsi, but I’m never sick a day, I never get a cold, I hardly ever sleep, and it’s all from my mom and dad. They’re in their early 80s and still have crazy energy.”

On the economy: “I try to be optimistic but you have to be concerned about debt levels just about anywhere in the developed world. I think governments are making promises they may not be able to keep. It would not shock me to see another financial crisis at some point over the next three to five years.”

On investing: “It’s shocking how badly many people manage their own investments. Mutual fund fees and expenses are part of that, but we also appear to have mastered the art of buying mutual funds that are just about to underperform.”

On mutual funds: “Paying 2 per cent [in mutual fund fees] doesn’t sound like much, because we still relate things to our high school marks. Losing 2 per cent off a mark of, say, 70 per cent is no big deal. But with mutual funds, you’re talking about losing two percentage points of an estimated 8 per cent or so return. That’s a quarter of your expected gain.”

On alternative investing: “If you’re going to get involved with hedge funds, don’t invest in them, run them.”

On entrepreneurship: “A lot of the people we see on Dragons’ Den have the naive idea that the biggest challenge in business is getting their product on the shelves. It’s not – it’s getting it off the shelves. Once it’s in the store, how do you create demand, how do you make it stand out among the competition?”

On perseverance: “No author in history did more interviews about a single book than I did about The Wealthy Barber. I did hundreds of interviews a year. For years and years and years.”
creating_demand  personal_finance  personal_branding  angels  entrepreneurship  luck  fees_&_commissions  perseverance  debt  investing  writers  authors  developed_countries  developing_countries 
january 2015 by jerryking
What We’re Afraid to Say About Ebola - NYTimes.com
By MICHAEL T. OSTERHOLMSEPT. 11, 2014

THE Ebola epidemic in West Africa has the potential to alter history as much as any plague has ever done.

There have been more than 4,300 cases and 2,300 deaths over the past six months. Last week, the World Health Organization warned that, by early October, there may be thousands of new cases per week in Liberia, Sierra Leone, Guinea and Nigeria. What is not getting said publicly, despite briefings and discussions in the inner circles of the world’s public health agencies, is that we are in totally uncharted waters and that Mother Nature is the only force in charge of the crisis at this time.

There are two possible future chapters to this story that should keep us up at night.

The first possibility is that the Ebola virus spreads from West Africa to megacities in other regions of the developing world. This outbreak is very different from the 19 that have occurred in Africa over the past 40 years. It is much easier to control Ebola infections in isolated villages. But there has been a 300 percent increase in Africa’s population over the last four decades, much of it in large city slums. What happens when an infected person yet to become ill travels by plane to Lagos, Nairobi, Kinshasa or Mogadishu — or even Karachi, Jakarta, Mexico City or Dhaka?

The second possibility is one that virologists are loath to discuss openly but are definitely considering in private: that an Ebola virus could mutate to become transmissible through the air. You can now get Ebola only through direct contact with bodily fluids. But viruses like Ebola are notoriously sloppy in replicating, meaning the virus entering one person may be genetically different from the virus entering the next. The current Ebola virus’s hyper-evolution is unprecedented; there has been more human-to-human transmission in the past four months than most likely occurred in the last 500 to 1,000 years. Each new infection represents trillions of throws of the genetic dice.
Ebola  epidemics  viruses  flu_outbreaks  contagions  West_Africa  developed_countries  uncharted_problems  megacities  developing_countries 
september 2014 by jerryking
Making it in the new industrial revolution
Aug. 29, 2012 | The Financial Times | by Luke Johnson.
Two new books make this point: first, the Financial Times's Peter Marsh in his excellent book The New Industrial Revolution ; and second, Chris Anderson, of The Long Tail fame, in his new title, Makers . They argue that mass production is giving way to customisation, combined with localism, and the emergence of "micro-multinationals".

Digital manufacturing employs computers and a process called stereolithography to make products using layers of either powdered or molten plastic or metal, in what is described as "additive manufacturing". ...whether it is Apple iPhones or Rolls-Royce Trent aero engines, the real profit is not made in the basic assembly of goods. The margins are in servicing, brands, design and after-sales.

Manufacturing contributes to an economy in many ways. As Andrew Liveris, chief executive of Dow Chemical, argues in his book Make It In America , it creates more added value pro rata than other activities, and is much more likely to generate exports to help offset trade deficits. Moreover, research and development tends to take place alongside manufacturing centres, which foster clusters of sub-contractors. It is no coincidence that Germany, Europe's manufacturing powerhouse, has weathered the credit crisis so well compared to other EU nations.

Since the downturn started, many politicians in the developed world have insisted that societies move away from financial capitalism and back towards the real business of making things. If this policy is to succeed, it cannot be the usual formula of enticing global public companies to build multibillion-dollar plants. It must be about education, entrepreneurship and exploiting new equipment on a more bespoke scale. Incremental jobs in manufacturing can come from new, niche entrants using innovations in technology to help make them more of a match for the big incumbents.
manufacturers  Luke_Johnson  3-D  books  DIY  microproducers  Industrial_Revolution  developed_countries  margins  services  brands  design  after-sales_service  Apple  Rolls-Royce  developing_countries 
august 2012 by jerryking
At Davos, Leaders are Debating Whether Corporations are More Powerful Than Governments
January 27, 2012 | TIME.com | By Rana Foroohar.

The top companies seem to exist in a world apart — they are booming, and their executives are prospering. If there is a meta theme to this year’s World Economic Forum in Davos, it is that the world’s largest companies are moving on and moving ahead of governments and countries that they perceive to be inept and anemic. They are flying above them, operating in a space that is increasingly disconnected from local concerns, and the problems of their home markets. And if the conversations here are any indication, they may soon take over much of what government itself does....The problem was nicely captured in this week’s New York Times piece on Apple, looking at why the iPhone is mostly made outside America. As one of the company’s executives put it, “We don’t have an obligation to solve America’s problems.” It’s a sentiment that was echoed on Time’s Board of Economists’ panel, where business leaders blamed for not sharing the $2 trillion in wealth sitting on corporate balance sheets argued that they did create jobs and prosperity — just not in this country.....Labor economist Clyde Prestowitz pointed out as much in an article in Foreign Policy this week where he noted that while Apple may not think American economic issues are it’s “problem,” it certainly depends on the Seventh Fleet to keep Asian waterways safe and clear so that it can deliver it’s products.....A lot of people here in Davos — people like Nobel laureate Chris Pissarides, and a number of high level investors I spoke with — say that we can’t innovate or educate our way out of this problem. It’s only going to get worse, particularly as a coming automation revolution starts to hollow out white collar jobs in rich countries.
Rana_Foroohar  Davos  multinationals  Apple  globalization  cash_reserves  job_destruction  job_displacement  downward_mobility  automation  hollowing_out  white-collar  developed_countries  Nobel_Prizes  large_companies  statelessness 
august 2012 by jerryking
Grateful Student Returns the Favor - New York Times
By ROBERT JOHNSON
Published: August 7, 2005

Peter A. Georgescu whose "The Source of Success" (Jossey-Bass, $27.95) is being published this month, retired as chairman and chief executive of Young & Rubicam in 2000. The book aims to explain what Mr. Georgescu views as the two major challenges facing America: economic competition from the emerging economies of China and India and a need to foster more creativity within American companies.

"The only way this nation can compete with those that produce high-quality products at a lower price is by generating ideas that build a special relationship with consumers," he said. "Everyone has buildings and technology; those are commodities. The only leverageable asset in the future will be creativity."

===============================
See also Daniel Pink's work on countries cultivating skills and knowledge that are not available at a cheaper price in other countries or that cannot be rendered useless by
machines. That is, embracing play and abundance.

============================================
See also Tom Friedman's piece ("We Need a Second Party" - NYTimes.com ) below:

The first is responding to the challenges and opportunities of an era in which globalization and the information technology revolution have dramatically intensified, creating a hyperconnected world. This is a world in which education, innovation and talent will be rewarded more than ever. This is a world in which there will be no more “developed” and “developing countries,” but only HIEs (high-imagination-enabling countries) and LIEs (low-imagination-enabling countries). Adding "imagination"
advertising_agencies  book_reviews  Daniel_Pink  Young_&_Rubicam  CEOs  Tom_Friedman  creativity  competitiveness_of_nations  design  imagination  education  high-touch  innovation  talent  developed_countries  idea_generation  books  high-quality 
may 2012 by jerryking
We Need a Second Party - NYTimes.com
By THOMAS L. FRIEDMAN
Published: February 11, 2012

The first is responding to the challenges and opportunities of an era in which globalization and the information technology revolution have dramatically intensified, creating a hyperconnected world. This is a world in which education, innovation and talent will be rewarded more than ever. This is a world in which there will be no more “developed” and “developing countries,” but only HIEs (high-imagination-enabling countries) and LIEs (low-imagination-enabling countries).

===============================
Link to Daniel Pink's work on countries cultivating skills and knowledge that are not available at a cheaper price in other countries or that cannot be rendered useless by
machines. That is, embracing play and abundance.
===============================
See Peter A. Georgescu. "The only way this nation can compete with those that produce high-quality products at a lower price is by generating ideas that build a special relationship with consumers," he said. "Everyone has buildings and technology; those are commodities. The only leverageable asset in the future will be creativity."
Tom_Friedman  GOP  design  imagination  education  high-quality  innovation  talent  developed_countries  Daniel_Pink  high-touch  developing_countries 
february 2012 by jerryking
Rolls-Royce Powers Ahead in High-Wage Countries - WSJ.com
OCTOBER 20, 2011| WSJ | By DANIEL MICHAELS. While many American and European manufacturers transplanted production to low-wage countries in Asia and Latin America in recent years, British industrial giant Rolls-Royce PLC has taken a contrarian course. It gravitates to high-wage hot spots.

The turbine producer has factories in England, the U.S. and Germany, where it recently bought into an engine maker for more than $2 billion.

...Preserving even a limited amount of high-end manufacturing in advanced economies can help stem a vicious cycle of industrial exodus that plagues parts of the U.S. and U.K. Each specialized marine or aerospace manufacturing job creates around three more jobs nearby at suppliers, maintenance operations and in services such as design or finance, according to studies.

Until the recent economic crisis, many advanced economies had looked to service industries, such as finance and information technology, as substitutes for vanishing manufacturing employment. But the spillover job creation from such services is "effectively trivial,"
exodus  manufacturers  United_Kingdom  China  intellectual_property  Singapore  shipbuilding  value_creation  engineering  high-wage  hotspots  spillover  Rolls-Royce  downward_spirals  developed_countries  contrarians 
october 2011 by jerryking
Vijay Govindarajan Pins Future Growth on Reverse Innovation
October 6, 2009 | — World Business Forum — Presented by Shell |
Vijay GovindarajanTo tap opportunities in emerging markets, companies
must excel at “reverse innovation”: develop products in countries like
China and India and then distribute them globally. Why? The fundamental
driver of reverse innovation is the income gap that exists between
emerging markets and the developed countries....Established automakers
are missing the opportunity. They have chartered their innovation
efforts for rich countries — and then offered the same cars, perhaps
de-featured to reduce costs somewhat, in poor countries....Yet far more
is at risk than missed opportunities for growth. Increasingly, success
in the developing world is a prerequisite to continued vitality at home.
In the transformed economic landscape, reverse innovation is not
optional — it is oxygen.
reverse_innovation  gurus  Vijay_Govindarajan  Bottom_of_the_Pyramid  product_development  China  India  missed_opportunities  de-featured  automotive_industry  emerging_markets  developed_countries  jugaad  developing_countries 
may 2010 by jerryking
Indian Firms Shift Focus to the Poor
Oct 20, 2009 | Wall Street Journal pg. A.1 | by Eric Bellman.
With the developed world mired in a slump and the developing world
still growing quickly, companies are focusing on how to innovate, and
profit, by going straight to the bottom rung of the economic ladder.
They are taking advantage of cheap research and development and low-cost
manufacturing to innovate for a market that's grown large enough and
sophisticated enough to make it worthwhile. Instead of using
traditional supply chains, many companies are distributing through rural
self-help groups and micro-lenders that are already plugged into
villages. And while profit margins are slim, companies are counting on
volume to compensate. Many hope to sell to other poor and underserved
markets in Asia and Africa eventually. Trickle-up innovation.
trickle-up  underserved  reverse_innovation  emerging_markets  socioeconomic  Bottom_of_the_Pyramid  jugaad  developed_countries  supply_chains  manufacturers  R&D  microlending  microfinance  low-cost  Indians  low-income 
november 2009 by jerryking
A whole new mind: why right-brainers ... - Google Books
Excerpt from 'A whole new mind: why right-brainers will rule
the future' By Daniel H. Pink. "Indeed, one of design's most potent
economic effects is this very capacity to create new markets... The
forces of Abundance, Asia, and Automation turn goods and services into
commodities so quickly that the only way to survive is by constantly
developing new innovations, inventing new categories, and (in Paola
Antonelli's lovely phrase) giving the world something it didn't know it
was missing.
============================================

See also Tom Friedman's piece ("We Need a Second Party" - NYTimes.com ) below:

The first is responding to the challenges and opportunities of an era in which globalization and the information technology revolution have dramatically intensified, creating a hyperconnected world. This is a world in which education, innovation and talent will be rewarded more than ever. This is a world in which there will be no more “developed” and “developing countries,” but only HIEs (high-imagination-enabling countries) and LIEs (low-imagination-enabling countries). Adding "imagination"
design  Daniel_Pink  innovation  storytelling  symphony  empathy  play  meaning  sense-making  new_businesses  new_categories  automation  abundance  Asia  developing_countries  imagination  Tom_Friedman  high-touch  special_sauce  skills  developed_countries 
october 2009 by jerryking

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