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jerryking : epicenters   11

US abdication in Africa hands political opportunities to China
| FT | by David Pilling

America’s shrinking influence in Africa, the second-largest continent geographically and epicentre of a gathering population explosion, did not begin under Mr Trump. The commitment of Barack Obama, his Kenyan roots notwithstanding, fell short of that shown by George W Bush, whose conversion to African causes — particularly the fight against HIV — made him a hero on the continent.

The sense of US withdrawal has accelerated with this administration. Mr Trump’s threat to cut the US aid budget by 30 per cent signals a massive scaling down of its commitment to a health and poverty-reduction agenda that has enjoyed bipartisan support in Washington for decades. A year into the US president’s administration, he is still without an ambassador to Pretoria or an assistant secretary of state for Africa. ....The US business relationship with Africa is almost exclusively extractive. Oil majors, such as Chevron and ExxonMobil, secretary of state Rex Tillerson’s old company, are the biggest investors....GE, Google and Citigroup are among a handful of non-extractives.....there are non-commercial reasons to think harder about Africa. By 2050, the number of Africans will have doubled to more than 2bn and may double again by the end of the century. Within a generation or so, Nigeria is expected to surpass the US to become the world’s third-most populous country.

The danger is that Africa will become home to a restless, jobless urban youth tempted to join the swelling flow of emigrants to Europe or prone to radicalisation at home. The persistence of Africa-based militant Islamist groups, from Boko Haram in north-east Nigeria to al-Shabaab in Somalia, is a worrying omen.

As the US presence fades, that of China — and, to a lesser extent, of India, Turkey and Morocco — has grown. China’s influence is everywhere: in roads, rail, telecoms, infrastructure and in Djibouti, in a naval base.
Africa  benign_neglect  Chevron  China  China_rising  Donald_Trump  epicenters  ExxonMobil  India  influence  mass_migrations  migrants  Nigeria  population_movements  refugees  South_Africa  threats  Turkey  U.S.foreign_policy  Zimbabwe 
february 2018 by jerryking
Lex. London and Europe:hard-wired advantages
July 7, 2017 | Financial Times | Lex.

This hints at a wider strength. Laying cables across the sea was a high-risk venture in the 1850s. The risk was deemed worth taking because London was the financial centre of a trading empire. The city’s present-day concentration of expertise in areas like forex, trade finance, risk management, insurance and law is also a function of this mercantile history. Other European financial centres tend to have more specific strengths, such as asset management in Dublin and Luxembourg, or banking in Frankfurt.

More fibre could be installed across Europe, but that alone will not alter much. Europe’s politicians and regulators will find it harder to replicate London’s other strengths, however much they may wish to capitalise on the UK’s departure from the EU or secure regulatory oversight of euro-related clearing.

Their best hope of doing so is ham-fisted policymaking in the UK. There are precedents aplenty. President John Kennedy gifted London the Eurobond market in the 1960s. The Parti Québécois helped Toronto supplant Montreal as Canada’s financial capital in the 1980s. It is much easier to drive business away than it is to attract it — something the UK government, pondering its “red lines” over things like immigration and the remit of the ECJ, should bear in mind.
transatlantic  London  ECB  regulators  policymaking  competitive_advantage  epicenters  Brexit  poaching  red_lines 
august 2017 by jerryking
The Summer of Love: A Walking Tour of San Francisco, 50 Years Later
Unfurling from the eastern border of San Francisco’s Golden Gate Park, the Haight served as the epicenter of America’s 1960s counterculture movement. “The Haight-Ashbury was the product of teen rebellion against 1950s’ regimentation and the Vietnam War,” said a guide for the local Flower Power Walking Tour who goes by the name Stannous Flouride. “The anarchic aspect was seen as a threat against the establishment but ultimately had a profound influence on American culture.” Cheap rents, more than anything else, drew the first wave of bohemians in the early 1960s. Legions followed, cresting in 1967 when some 100,000 students, musicians and others flocked to San Francisco for a summer of drug-enhanced communing and revelry that horrified parents. This year, to mark the anniversary, events from concerts to art exhibits are being staged throughout the Bay Area (see summeroflove2017.com for details).

Hit songs of 1967 included the Airplane’s “White Rabbit,” “San Franciscan Nights” (inspired by a night Eric Burdon spent with Janis Joplin) and the blissed-out ballad “San Francisco (Be Sure to Wear Flowers in Your Hair).”
1967  San_Francisco  psychedelic  summertime  epicenters  neighbourhoods  gentrification  bohemians  things_to_do  anniversaries  counterculture 
may 2017 by jerryking
The Rise and Fall of Black Wall Street
AUG 31, 2016 | The Atlantic | ALEXIA FERNÁNDEZ CAMPBELL.

Richmond was once the epicenter of black finance. What happened there explains the decline of black-owned banks across the country.

On April, 3rd, 1968, Martin Luther King Jr. gave his famous “I’ve Been to the Mountaintop” speech in Memphis. In it, he urged African Americans to put their money in black-owned banks. It wasn’t his most famous line, but the message was clear: “We’ve got to strengthen black institutions. I call upon you to take your money out of the banks downtown and deposit your money in the Tri-State Bank. We want a ‘bank-in’ movement in Memphis … We begin the process of building a greater economic base.”

The next day, King was assassinated, and his hope of harnessing black wealth remains unfulfilled. Before integration, African Americans in cities like Richmond, Chicago, and Atlanta relied on black community banks, which were largely responsible for providing loans and boosting black businesses, churches, and neighborhoods. After desegregation, black wealth started to hemorrhage from these communities: White-owned banks were forced to open their doors to African Americans and the money that once flowed into black banks and back out to black communities ended up on Wall Street and other banks farther away.
MLK  African-Americans  banks  banking  community_banks  institutions  history  Richmond  desegregation  integration  black-owned  self-sufficiency  self-reliance  institution-building  generational_wealth  economic_clout  capital_formation  epicenters  1968 
september 2016 by jerryking
America is still great — but it needs to stay strong
May 26, 2016 | The Washington Post | By Fareed Zakaria, Opinion writer.

It is increasingly clear that the U.S. has in recent years reinforced its position as the world’s leading economic, technological, military and political power. The country dominates virtually all leading industries — from social networks to mobile telephony to nano- and biotechnology — like never before......Joshua Cooper Ramo's new book, “The Seventh Sense,” argues that in an age of networks, the winner often takes all. He points out that there are nine global tech platforms (Google Chrome, Microsoft Office, Facebook, etc.) that are used by more than 1 billion people. All dominate their respective markets — and all have their epicenters in America: The dollar is more widely used for international financial transactions today than it was 20 years ago.....A better, broader measure of economic power than GDP, is “inclusive wealth.” This is the sum of a nation’s “manufactured capital (roads, buildings, machines and equipment), human capital (skills, education, health) and natural capital (sub-soil resources, ecosystems, the atmosphere).” The United States’ inclusive wealth totaled almost $144 trillion in 2010 — 4½ times China’s $32 trillion.....China is far behind the United States in its ability to add value to goods and create new products.....In the military and political realm, the dominance is even more lopsided. ....And perhaps most important, the United States has a web of allies around the world and is actually developing new important ones, such as India and Vietnam. Meanwhile, China has one military ally, North Korea....The complexity of today’s international system is that, despite this American dominance, other countries have, in fact, gained ground.......“Washington still has no true rival, and will not for a very long time, but it faces a growing number of constraints.” ....The reality is that America remains the world’s leading power, but it can achieve its objectives only by defining its interests broadly, working with others and creating a network of cooperation. That, alas, does not fit on a campaign cap.
Fareed_Zakaria  Donald_Trump  networks  epicenters  winner-take-all  superpowers  indispensable  Joshua_Cooper_Ramo  platforms  books  international_system  manufactured_capital  human_capital  natural_capital 
may 2016 by jerryking
An insider's guide to Toronto with Cameron Bailey
SEPTEMBER 27, 2014 | BlogTO | Posted by Alexander Huls.

TIFF's Artistic Director, Cameron Bailey, has a life many a film buff would envy. As a chief orchestrator of the Toronto International Film Festival, Bailey lives and breathes film, and has become one of the festival's most public faces in the process. He has helped makes Toronto one of the epicenters of the film world.

The film professional started out on his path as many do: as a film critic. After realizing his passion for cinema in University, Bailey began reviewing films for outlets like CTV's Canada AM, CBC Radio One, and Now Magazine. At the same time, he also set out on his path as a programmer, contributing his passions to Cinematheque Ontario, the NFB, and, of course, TIFF.

Bailey started programming for TIFF in 1990, and since then - with a lot of hard work - has ascended to greater and greater prominence in the organization. In 2007, he became Festival Co-Director, and as of 2013, he now holds the position of being one of the festival's chief orchestrators as Festival Artistic Director.
African_Canadians  Cameron_Bailey  cultural_criticism  epicenters  films  movies  restaurants  things_to_do  TIFF  Toronto 
september 2014 by jerryking
Canada urged to defend lead in mining business
January 30, 2013 | Globe & Mail pg. B2 | by Pav Jordan.

A new report on the mining sector is urging Canada to streamline worker immigration procedures and boost tax incentives to encourage exploration in remote areas.
The report by the Canadian Chamber of Commerce warns that the country must not sit on its laurels if it wants to hold its lead in global mining, pointing at areas from the equipment supplies sector to bank financing and legal services and infrastructure as places where government and companies can work together to sharpen the nation’s edge.
The Canadian mining industry is among the world’s biggest, contributing $35.6­ billion to gross domestic product in 2011. That same year mining exports were valued at $102 ­billion, more than 20% of the national total. The Toronto Stock Exchange is the global capital for mining equity and British Columbia has the largest concentration of mining exploration firms anywhere.
mining  competitiveness_of_nations  Canada  Canadian  tax_codes  TMX  capital_markets  geology  engineering  legal  epicenters  hyper-concentrations 
january 2013 by jerryking
Risk? Bring it on, Canadian miners say - The Globe and Mail
DOUGLAS MASON

Special to The Globe and Mail

Published Thursday, Nov. 22 2012

There are few business sectors where Canada can claim global dominance, but as a centre for mining development, it is an industry leader....No other place has the same concentration and depth of services and financial market sophistication to support mining finance and development.

How does Canada do this? According to Kevan Cowan, president of TSX Markets, Canadians have a long history of participating in early-stage mining investments and a “whole ecosystem” has developed to support the industry.

“We have a tremendous network of industry players. Our legal services are the best expertise in this sector worldwide, together with a huge pool of geologists, engineers and mining entrepreneurs, as well as sophisticated capital markets for mining finance. We are a world ahead of our competitors.”
Canada  Canadian  mining  risk-taking  TSX  entrepreneurship  DRC  Banro  early-stage  ecosystems  capital_markets  geology  engineering  legal  TMX  epicenters  hyper-concentrations 
december 2012 by jerryking
Mark Mills and Julio Ottino: The Coming Tech-led Boom - WSJ.com
JANUARY 30, 2012

The Coming Tech-led Boom
Three breakthroughs are poised to transform this century as much as telephony and electricity did the last....

By MARK P. MILLS AND JULIO M. OTTINO

In January 2012, we sit again on the cusp of three grand technological transformations with the potential to rival that of the past century. All find their epicenters in America: big data, smart manufacturing and the wireless revolution.
massive_data_sets  manufacturers  3-D  wireless  breakthroughs  epicenters  smartphones  mobile_applications  demographic_changes  Colleges_&_Universities 
february 2012 by jerryking

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