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jerryking : global_economy   39

CIBC’s Victor Dodig warns about global debt levels; urges Canada to prepare
SEPTEMBER 11, 2018 | The Globe and Mail | by JAMES BRADSHAW (BANKING REPORTER)

Who/Where/Occasion: CIBC's CEO Victor Dodig, in a speech to the Empire Club

Problem(s):
* alarm over rising global debt levels, warning that Canada needs to start preparing now for the next economic shock.
* some of the most acute threats to the global economy are beyond this country’s control, but cautioned Canadians not to get too comfortable while times are good.
* developing problems could ripple through interwoven financial markets around the world.
* “It sounds counterintuitive, but that same debt that helped the world recover is actually infusing risk into the global financial system today," ...“I think there’s a real serious global challenge of this low-interest-rate party developing a big hangover."

Remedies:
* clarify rules around foreign direct investment, which is falling in Canada. The main culprit is the uncertainty plaguing large business deals that require approval from Ottawa under opaque foreign-investment rules – and he cites the turmoil surrounding the Trans Mountain pipeline expansion as an example.
* more immigration to Canada, asking the government – which has already set higher immigration targets for the coming years – to open its arms even wider.
* governments and employers to work more closely with universities and colleges to match the skills graduates have to employers' needs, promoting what are known as the STEM disciplines – science, technology, engineering and math – as well as skilled trades.
* remove interprovincial trade barriers.
* allow companies to expense capital investments within one year to be more competitive with U.S. rules.

My Takeaways:
CEOs  CIBC  debt  FDI  global_economy  interconnections  interest_rates  opacity  pipelines  resilience  speeches  uncertainty  Victor_Dodig  war_for_talent  threats  beyond_one's_control  complacency  preparation  financial_system  readiness 
september 2018 by jerryking
NAFTA is dead and Canada should move on
June 2, 2018 | The Globe and Mail | by PETER DONOLO.

So what is our Plan B?

It obviously means seriously and aggressively pursuing markets and investment beyond the U.S. For example, new markets for Canadian resources are now more important than ever. That’s why the government’s decision this week to effectively nationalize the Trans Mountain Pipeline in order to finally get it built and deliver oil to Asia-bound tankers was such an important step. This decision in itself was a significant response to an unreliable American partner, and a signal that we must look farther abroad for greater economic opportunity.

The same goes for the myriad of trade agreements on which our country has embarked – most prominently the Canada-EU trade agreement and the Trans-Pacific Partnership. The GATT and WTO breakthroughs of the 1990s also work in Canada’s favour, providing us with tariffs much lower than existed before NAFTA and the original Canada-U.S. free-trade agreement. If NAFTA were to cease tomorrow, our trade with the U.S. would still operate under the WTO’s rules.

Finally, we need to redouble efforts to attract direct foreign investment into Canada. The government recently launched a new agency, Invest in Canada, to do just that. But there are obstacles. The Business Council of Canada cites the regulatory burden as the biggest challenge. In a globalized economy, tax competitiveness is always an issue. And governments need to walk the walk when it comes to opening up to investors from countries such as China, even when there is domestic political blowback.

The only negotiating stance that works against Donald Trump is the ability and willingness to walk away. Mr. Trump sniffs out weakness or desperation – in a friend or a foe – and he pounces without mercy. A defensive crouch is the wrong position. “Sauve qui peut” is the wrong rallying cry. Negotiating with strength, from strength, is the only approach.
beyondtheU.S.  automotive_industry  crossborder  Donald_Trump  FDI  Nafta  negotiations  Plan_B  oil_industry  protectionism  tariffs  TPP  Trans_Mountain_Pipeline  pipelines  global_economy 
june 2018 by jerryking
Navigating a Breathtaking Level of Global Economic Change
November 14, 2017 |The New York Times | by Andrew Ross Sorkin.
you’d think that any sense of “faith” in the global economy might be shaken, or at least, uncertain given events like North Korea, Russian interference in elections in the United States, post-Brexit Europe, and hurricane damage.

Not so.

In conversation after conversation with some of the nation’s top business leaders and chief executives last week, there is a stunning amount of genuine “confidence” in our economy here and, yes, even globally.

“I’m very surprised,” Laurence D. Fink, the founder of BlackRock, the largest money manager in the world overseeing some $6 trillion, said at The New York Times DealBook conference last Thursday, describing his new sense of optimism.......Mark Cuban, whose disdain for President Trump is so acute that he is considering running for president himself in 2020 as a Republican because it “means you get to go head-on with Trump right in the primaries — and so there’s nothing I’d have more fun doing.” Still, though, he said he believes the economy is in good enough shape that when it comes to investing in the stock market, “I just, you know, I just let it ride.”

Mr. Cuban, owner of the Dallas Mavericks, said he keeps a small amount of cash on hand as a precaution. “I keep a little bit, you know, as a hedge. I call it my ‘Trump hedge’ because you just never know.....Earlier in 2017, The Conference Board reported that chief executives’ confidence had reached 2008 pre-recession highs in the first quarter.....there are pockets of the economy that are causing anxiety. “The last two or three years have not been fun whatsoever,” Mickey Drexler, the chairman of J. Crew, said at the conference about the traditional retail business, which has been upended by Amazon and changes in consumer behavior. “It’s been miserable.” Those challenges are extending to mall owners and commercial real estate, too..... is the stock market a proxy for the economy of America?....“In the aftermath of corporate and public-sector disasters, it often emerges that participants fell prey to a collective form of willful blindness and overconfidence: mounting warning signals were systematically cast aside or met with denial, evidence avoided or selectively reinterpreted, dissenters shunned,” Roland Bénabou a professor at Princeton University wrote in a seminal work on confidence and groupthink. “Market bubbles and manias exhibit the same pattern of investors acting ’colorblind in a sea of red flags,’ followed by a crash.”
confidence  Andrew_Sorkin  Mark_Cuban  Laurence_Fink  BlackRock  shifting_tastes  optimism  consumer_behavior  CEOs  J._Crew  Mickey_Drexler  commercial_real_estate  shopping_malls  warning_signs  groupthink  bubbles  overconfidence  precaution  global_economy  willful_blindness  manias  market_crash 
november 2017 by jerryking
The Amazon-Walmart Showdown That Explains the Modern Economy - The New York Times
Neil Irwin @Neil_Irwin JUNE 16, 2017

The decision by Amazon and Walmart to compete for my grocery business — as well as for space in my closet — is a tiny battle in a war to dominate a changing global economy.

And for companies that can’t compete on price and technology, it could cost them the shirt off their backs.....[Amazon's purchase of high-end grocery chain Whole Foods places it] on a collision course with Walmart to try to be the predominant seller of pretty much everything you buy.

Each one is trying to become more like the other — Walmart by investing heavily in its technology, Amazon by opening physical bookstores and now buying physical supermarkets. But this is more than a battle between two business titans. Their rivalry sheds light on the shifting economics of nearly every major industry, replete with winner-take-all effects and huge advantages that accrue to the biggest and best-run organizations, to the detriment of upstarts and second-fiddle players.....in turn...this has more worrying implications for jobs, wages and inequality.

Amazon vs. Walmart

Both want to sell everything!!!!

Walmart is buying Bonobos, an omnichannel innovator. Its website and online customer service are excellent, and it operates stores in major cities where you can try on garments and order items to be shipped directly. Because all the actual inventory is centralized, the stores themselves can occupy minimal square footage. The acquisition helps Walmart build expertise in the very areas where it is trying to gain on Amazon.

Walmart and Amazon have had their sights on each other for years, each aiming to be the dominant seller of goods via omnichannel.

Amazon's purchase of Whole Foods helps it to understand the grocery business which has a whole different set of challenges from the types of goods that Amazon has specialized in heretofore.

A Positive Returns-to-Scale World
The apparel business has long been a highly competitive industry in which countless players could find a niche.....any shirt-maker that tried to get too big rapidly faced diminishing returns.It would have to pay more and more to lease the real estate for far-flung stores, and would have to outbid competitors to hire all the experienced shirt-makers. The expansion wouldn’t offer any meaningful cost savings and would entail a lot more headaches trying to manage it all....in the digital economy, rather than reflecting those diminishing returns to scale, show positive returns to scale: The biggest companies have a huge advantage over smaller players. That tends to tilt markets toward a handful of players or even a monopoly....The apparel industry...is moving in the direction of being like the software business (high fixed costs, zero variable costs, enormous returns to scale)..... the reason why Walmart and Amazon are so eager get into the shirt business is because retailers know that they need to figure out how to manage sophisticated supply chains connecting Southeast Asia with stores in big American cities so that they rarely run out of product. They need mobile apps and websites that offer a seamless user experience so that nothing stands between a would-be purchaser and an order....Larger companies that are good at supply chain management and technology can spread those more-or-less fixed costs around more total sales, enabling them to keep prices lower than a niche player and entrench their advantage....large companies will invest in automation/robotics...the future of clothing/apparel might be a handful of companies with the very expensive shirt-making robots---and everyone else shut out in the cold.

What It Means for the Economy

A relative few winners are taking a disproportionate share of business in a wide range of industries....in turn may help explain why the income gap has widened in recent years. How much on income inequality is driven by shifting technology — as opposed to changing corporate behavior, or loose antitrust policy — is an open debate.
increasing_returns_to_scale  winner-take-all  fixed_costs  variable_costs  Amazon  Wal-Mart  Whole_Foods  retailers  economics  Bonobos  shirts  mens'_clothing  omnichannel  apparel  digital_economy  automation  robotics  competitive_landscape  market_concentration  barbell_effect  income_inequality  antitrust  market_power  corporate_concentration  grocery  fresh_produce  supermarkets  large_companies  UX  inventory-free  global_economy 
june 2017 by jerryking
To Be Great, America Must Be Good
JUNE 2, 2017 | The New York Times | By SUSAN E. RICE.

Four and a half months is not long, but President Trump has accomplished an extraordinary amount in a short time. With shocking speed, he has wreaked havoc: hobbling our core alliances, jettisoning American values and abdicating United States leadership of the world. That’s a whole lot of winning — for Russia and China......And now the president has pulled the United States out of the Paris climate agreement, putting us at odds with virtually the entire world. Europe and China stand together on the Paris accord, while the United States is isolated.

This last, disastrous decision is the coup de grâce for America’s postwar global leadership for the foreseeable future. It was not taken from us by any adversary, nor lost as a result of economic crisis or collapse of empire. America voluntarily gave up that leadership — because we quit the field....How consequential is this choice? The network of alliances that distinguishes America from other powers and has kept our nation safe and strong for decades is now in jeopardy. We will see the cost when next we need the world to rally to our side.....Congressional delegations, governors and mayors can reassure our key allies that the American people still value them and that we do not intend to cede our global leadership. We must make clear to our foreign partners that this present policy is an aberration, not the new normal.

American corporations and civil society groups can assist by demonstrating that the United States remains committed to its integration into the global economy and to our democratic principles. In the absence of White House leadership, the American people should act as informal ambassadors, via contacts through tourism, study-abroad programs and cultural exchanges.
Susan_Rice  Donald_Trump  White_House  alliances  post-WWII  NATO  TPP  leadership  APNSA  values  global_economy  new_normal 
june 2017 by jerryking
Empty talk on innovation is killing Canada’s economic prosperity
Mar. 19, 2017 | Globe & Mail | by JIM BALSILLIE.

Immigration, traditional infrastructure such as roads and bridges, tax policy, stable banking regulation and traditional trade agreements are all 19th- and 20th-century economic levers that advance Canada’s traditional industries, but they have little impact on 21st-century productivity.

The outdated economic orthodoxy behind our discourse on innovation is causing the steady erosion of our national prosperity.

Over the past 30 years, commercialization of intellectual property (IP) became the primary driver of new wealth. The structure of the 21st-century company shifted and IP became the most valuable corporate asset. IP is an intangible good that requires policy infrastructure that’s completely different than the infrastructure required to get traditional tangible goods to market. IP relies on a tightly designed ecosystem of highly technical interlocking policies focused on scaling companies, which are “agents” of innovation outputs.....Canada doesn’t have valuable IP to sell to the world so we continue exporting low-margin resource and agricultural goods while importing high-margin IP. If our leaders want to create sustainable economic growth, Canada’s growth strategy must focus on creating high-margin IP-based exports that the world wants and must pay for.........IP ownership is the competitive driver in the new global economy, not exchange rates that adjust production costs. That’s why despite the strong U.S. dollar, U.S. company valuations and exports are soaring – IP-intensive industries added $6.6-trillion (U.S.) to the U.S. economy in 2014. So what is Canada’s strategy to increase our ownership of valuable IP assets and commercialize them globally? Supply chains in the innovation economy are different than in traditional economies because IP operates on a winner-take-all economic principle with zero marginal production costs. IP is traded differently than tangible goods because IP moves across borders on the principle of restriction, not free trade. Trade liberalization increases competition and reduces prices, but increased IP protection does the exact opposite. The economy for intangible goods is fundamentally different than the one for tangible goods. Productivity in the global innovation economy is driven by new ideas that generate new revenue for new markets. What Canada needs is a strategy to turn its new ideas into new revenue.....The Growth Council missed our overriding priority for growth: a national strategy to generate IP that Canadian companies can commercialize to scale globally.

We urgently need sophisticated strategies to drive the commercialization of Canadian ideas through our most innovative companies.
innovation  Jim_Balsillie  happy_talk  intellectual_property  scaling  tax_codes  winner-take-all  productivity  intangibles  digital_economy  ideas  self-deception  patents  commercialization  national_strategies  global_economy  property_rights  protocols  borderless 
march 2017 by jerryking
Preparing Young Americans for a Complex World - The New York Times
the American economy is inextricably linked to the global economy. It’s estimated that one-fifth of jobs here are now tied to international trade. Moreover, many of the world’s major challenges — climate change, instability in financial markets, food and water insecurity, infectious diseases, migration, war and terrorism — are complex, interdependent and borderless. And with 40 million foreign-born residents, the United States is itself a global society with deep emotional ties to many nations and cultures. To survive and thrive, Americans have to learn how to manage greater complexity and collaborate across lines of difference.
complexity  globalization  international_trade  global_economy 
february 2017 by jerryking
6 Ways Pretend Investors Differ From the Real Ones
NOV. 21, 2016 | The New York Times | By CARL RICHARDS.

* Have a long term plan
* Don't react to every single event that happens in the short term. Financial pornography is not 'actionable information' on which to make a decision about.
* Make changes to my investments based on what happens in my own life. If my goals change or there is a fundamental change in my financial situation, then I should consider an alteration.
* Real investors know that it takes a long time for a tree to grow, and it will not help to dig it up to see if the roots are still there. The same rule applies to investments. And because watching things get big slowly is not very exciting, real investors tend not to talk about that tree all that much.
* Real investors understand the difference between the global economy and their personal economy (aka micro economy) and choose to focus on the latter.
* Focus on the things I can control, like saving a bit more next year, keeping my investment costs low, not paying fees unless it’s necessary and managing my behavior by not buying high and selling again when prices are low.
howto  investors  advice  personal_finance  beyond_one's_control  habits  microeconomics  personal_economy  actionable_information  long-term  span_of_control  financial_pornography  patience  noise  discretion  global_economy 
november 2016 by jerryking
Canada’s winning combination for the new global economy - The Globe and Mail
BRUCE SIMPSON AND SREE RAMASWAMY
Contributed to The Globe and Mail
Published Saturday, Mar. 26,
Canada  globalization  global_economy 
march 2016 by jerryking
Aiming Financial Weapons From Treasury War Room - NYTimes.com
By ANNIE LOWREYJUNE 3, 2014

“The United States needs to remain involved in the world, but does not necessarily need to remain involved just through military power,” said David S. Cohen, Treasury’s under secretary for terrorism and financial intelligence, who is sometimes described within the administration as President Obama’s favorite combatant commander. “There are other ways of projecting U.S. power that are consequential.”

Mr. Cohen oversees the obscure Office of Foreign Assets Control, the engine that creates and administers the steadily increasing number of financial sanctions. They are a policy tool once considered largely ineffectual but are now used against a wide range of actors, from Iran’s revolutionary guard to Mexican drug traffickers to cronies of President Vladimir V. Putin of Russia....Sanctions have also become a central policy lever with Iran, Syria, South Sudan and North Korea — as well as drug cartels, arms traders and terrorists. In no small part, their swelling number is because of their improved potency, analysts said: Today’s sanctions tend to be “smart,” narrow rather than broad, and designed to pressure elites rather than squeezing average citizens....Legal changes during the Bill Clinton and George W. Bush administrations bolstered the tool. Analysts started focusing on travel bans and asset freezes, rather than whole-country or whole-industry sanctions. The interconnectedness of the global economy has also made sanctions stronger.

“We’re very nuanced about how to use the tool and, I think, very thoughtful about it,”
Iran  geopolitics  U.S.Treasury_Department  statecraft  21st._century  travel_bans  asset_freezes  sanctions  North_Korea  interconnections  economic_warfare  economic_policy  specificity  hard_power  rogue_actors  policy_tools  potency  global_economy 
june 2014 by jerryking
Davos diary: A new angst settles over the world's elites - The Globe and Mail
John Stackhouse - Editor-in-Chief

Davos, Switzerland — The Globe and Mail

Published Friday, Jan. 24 2014,

Another machine revolution is upon us. There is a new wave forming behind the past decade’s surge of mobile technology, with disruptive technologies like driverless cars and automated personal medical assistants that will not only change lifestyles but rattle economies and change pretty much every assumption about work....For all the talk of growth, though, the global economy is also in an employment morass that has the smartest people in the room humbled and anxious. The rebound is not producing jobs and pay increases to the degree that many of them expected. Most governments are tapped out, fiscally, and can only call on the private sector – “the innovators” – to do more....If a 3-D printer can kneecap your construction industry, or an AI-powered sensor put to pasture half your nurses, what hope is there for old-fashioned job creation?

The new digital divide – it used to be about access, now it’s about employment – stands to further isolate the millions of long-term jobless people in Europe and North America, many of whom have left the workforce and won’t be getting calls when jobs come back.... Say’s Law--a theory that says successful products create their own demand.
Davos  John_Stackhouse  Say’s_Law  Eric_Schmidt  digital_disruption  joblessness  fault_lines  Google  McKinsey  creative_destruction  Joseph_Schumpeter  unemployment  machine_learning  disruption  autonomous_vehicles  bots  chatbots  artificial_intelligence  personal_assistants  virtual_assistants  job_creation  global_economy 
january 2014 by jerryking
Atomico to spend $476-million on startups outside Silicon Valley - The Globe and Mail
Nov. 19 2013 | G&M | Mia Shanley.

“Ten years ago people thought you had to be in Silicon Valley to build a global technology business. That is no longer the case,” said Atomico founder Niklas Zennstrom, a Swedish entrepreneur who co-founded Skype, a web phone service which was sold to Microsoft Corp for $8.5-billion in 2011.

“We see entrepreneurs from all over the world achieving global success faster than ever before and across every sector of the global economy. Our new fund is aimed squarely at this opportunity,” he said
Atomico  venture_capital  Silicon_Valley  vc  Niklas_Zennstrom  global_economy 
november 2013 by jerryking
The biggest threat to the global economy? The weather -
Sep. 06 | The Globe and Mail |ERIC REGULY

In an interview in Munich, Peter Hoppe, the meteorologist who is head of the reinsurance giant’s georisk unit, said: “Climate change will create security problems because of the migrations it will create.”

Drought is emerging as one of the biggest natural hazards. It has the potential to reshape human landscapes and entire economies, mostly for the worse but sometimes for the better. Canada is less prone to drought than the United States; it could emerge as the world’s emergency breadbasket if the warming trend extends the growing season and the amount of productive agricultural land....Droughts are especially ugly because they sometimes develop gradually, meaning that their potential to cause harm is often ignored, and can last many years. ...The former boss of the World Food Program, Josette Sheeran, was fond of saying that the desperately hungry do one of three things: They riot, they migrate or they die. The Syrian civil war is giving the world an uncomfortable taste of the effects of mass migration. An enormous drought could make that migration look small and its security and economic consequences would be hard to fathom. It appears that no country, rich or poor, has a plan to deal with mass drought and mass migration.
extreme_weather_events  weather  climate_change  insurance  Munich_Re  Eric_Reguly  natural_calamities  droughts  farmland  food  hunger  mass_migrations  agriculture  threats  security_&_intelligence  slowly_moving  geopolitical-risk  global_economy  imperceptible_threats 
september 2013 by jerryking
Skills Don’t Pay the Bills - NYTimes.com
Illustration by Peter Oumanski
By ADAM DAVIDSON
Published: November 20, 2012

As the instructor Joseph Goldenberg explained, today’s skilled factory worker is really a hybrid of an old-school machinist and a computer programmer. Goldenberg’s intro class starts with the basics of how to use cutting tools to shape a raw piece of metal. Then the real work begins: students learn to write the computer code that tells a machine how to do it much faster....many believe that the manufacturing's future (and, to some extent, the future of the American economy) lies in training a new generation for highly skilled manufacturing jobs — the ones that require people who know how to run the computer that runs the machine.

This is partly because advanced manufacturing is really complicated. Running these machines requires a basic understanding of metallurgy, physics, chemistry, pneumatics, electrical wiring and computer code. It also requires a worker with the ability to figure out what’s going on when the machine isn’t working properly...yet, even as classes like Goldenberg’s are filled to capacity all over America, hundreds of thousands of U.S. factories are starving for skilled workers....The secret behind this skills gap is that it’s not a skills gap at all. I spoke to several other factory managers who also confessed that they had a hard time recruiting in-demand workers for $10-an-hour jobs....Yet according to the Bureau of Labor Statistics, the number of skilled jobs has fallen and so have their wages... “Trying to hire high-skilled workers at rock-bottom rates,” the BCG study asserted, “is not a skills gap.” The study’s conclusion, however, was scarier. Many skilled workers have simply chosen to apply their skills elsewhere rather than work for less, and few young people choose to invest in training for jobs that pay fast-food wages. As a result, the United States may soon have a hard time competing in the global economy....It’s easy to understand every perspective in this drama. Manufacturers, who face increasing competition from low-wage countries, feel they can’t afford to pay higher wages. Potential workers choose more promising career paths. “It’s individually rational,” says Howard Wial, an economist at the Brookings Institution who specializes in manufacturing employment. “But it’s not socially optimal.”...this isn’t a narrow problem facing the manufacturing industry. The so-called skills gap is really a gap in education, and that affects all of us.
skilled_trades  skills  skills_training  skills_shortage  manufacturers  BCG  education  low-wage_countries  talent_allocation  skills_gap  paradoxes  global_economy  young_people 
november 2012 by jerryking
The Race for the World - WSJ.com
September 27, 2012 | WSJ| By DAVID P. GOLDMAN.
The Race For the World
To triumph in today's winner-take-all market, entrepreneurs need deep pockets—and deep insights into technology.

Review of Entrepreneurship and the Global Economy
By Henry Kressel and Thomas V. Lento
(Cambridge, 266 pages, $45)
entrepreneurship  winner-take-all  books  book_reviews  global_economy 
october 2012 by jerryking
Three big questions for the 21st century
Jun. 21 2012 |The Globe and Mail |CHRYSTIA FREELAND, Special to The Globe & Mail.

it is no accident that so many economies are sputtering at the same time, or that so many people around the globe are angry.

One reason for the synchronized gloom is the synchronization of the global economy. Another is that everyone is trying to figure out three big questions, the answers to which will shape the 21st century.

The first is how nation-states fit into a globalized world economy.
The second question is even knottier. Why is 21st-century capitalism failing at the very important task of delivering jobs and rising incomes to the middle class in rich countries.
The third question is one we speak about the least and should probably worry about the most: Can rich women be persuaded to have children? Why, once a country achieves middle-income status, its middle-class women stop having many children.
Chrystia_Freeland  21st._century  middle_class  demographic_changes  job_destruction  job_displacement  think_threes  global_economy 
july 2012 by jerryking
Arabs and free trade -
13 May 2003 |The Globe and Mail A.18 | editorials

The decades-old Arab economic boycott of Israel is a "cut off your nose to spite your face" kind of measure -- hurtful to Israel's Western-oriented economy but equally damaging to Arab economies, which would benefit from trade with the Middle East's strongest player.

In a sense, though, the boycott is standard fare among Arab countries. They don't simply close their borders to Israeli products; they close them to each other's products, too. Arab states have some of the global economy's highest tariff barriers, averaging 20 per cent or more. Many, including Saudi Arabia, are not even members of the World Trade Organization.

It has been almost 30 years since the oil embargo against the West, which proved to be the high-water mark for Arab economic influence. Since then, Arab countries have failed to diversify, even into oil-related products such as petrochemicals. Dependence on fluctuating oil revenues has only grown. Meanwhile, according to the International Monetary Fund, many Arab countries maintain greater state control over their economies than existed in the old Soviet bloc.

Per-capita incomes, unsurprisingly, are declining. The gross domestic product of the entire Arab world is less than Spain's, and only four-fifths of Canada's. Last year, Arab countries received less foreign investment than did Sweden.
ProQuest  editorials  Middle_East  Arab-Muslim_world  boycotts  decline  global_economy 
july 2012 by jerryking
Terror is nasty, but what about that flu pandemic? -
12 July 2005 | Globe and Mail pg .13. | by Jeffrey Simpson.That's the thing about flu. It can travel fast, and it can be virulent. By the time a vaccine is produced, many people in infected areas can die.

SARS showed how fast diseases can travel. Once SARS appeared in China, people in five countries were infected within 24 hours, and in 30 countries within several months; 43 people died in Canada. The Canadian Tourism Commission estimated that SARS cost the economy $419-million. The cost to Ontario's health-care system exceeded $700-million.

The U.S. National Intelligence Council, looking ahead to 2020, says a global pandemic is the single most important threat to the global economy. The growing literature about the likelihood of a pandemic, probably a flu one, is filled with quasi-apocalyptic material: millions dead, billions of dollars of commerce disrupted, serious security risks.

Michael Osterholm, a U.S. public-health expert, writes: "A pandemic is coming. It could be caused by H5N1 or by another novel [flu] strain. It could happen tonight, next year, or even 10 years from now." The number of poultry and wildlife that carry the strain(s) has exploded. Should these deadly strains get into the human food chain, watch out.
pandemics  ProQuest  Jeffrey_Simpson  threats  H1N1  SARS  vaccines  WHO  flu_outbreaks  food_chains  virulence  global_economy  security_&_intelligence  the_single_most_important 
october 2011 by jerryking
U.S. needs to try harder on the global stage - The Globe and Mail
CHRYSTIA FREELAND | Columnist profile
From Friday's Globe and Mail
Oct. 20, 2011

I had breakfast this week with Jeffrey Immelt, chief executive officer of GE, and the main dish on the menu was tough love. In an Americans can still win in the global economy – but that they need to fight harder...The competition Mr. Immelt and Ms. Clinton want U.S. companies to win is the battle for dominance in the global marketplace and for the chequebook of the growing global middle class....As a cautionary counterexample, he cited Japan. “When I was a young guy, when I first started with GE, Jack Welch sent us all to Japan because in those days Japan was gonna crush us,” he said. “And we learned a lot about Japan when we were there. But over the subsequent 30 years, the Japanese companies all fell behind. And the reason why they fell behind is because they didn’t globalize. They didn’t have to go out and sing for their dinner in every corner of the world. That’s not the case with GE. It’s not the case with other American multinationals.”...Smart businesses have figured out how to globalize. We don’t yet know if countries can do the same.
globalization  GE  Jeffrey_Immelt  Chrystia_Freeland  multinationals  exporting  national_identity  tough_love  global_economy 
october 2011 by jerryking
Stephen Harper, meet your unofficial opposition - The Globe and Mail
Oct. 08, 2011 | Globe and Mail |John Ibbitson

As the global economy trembles, all Canadian governments could soon face collapsing revenues and increased stress on the social safety net.

“They're going to battle over money,” Prof. Klassen predicts. In difficult times, “it's easiest for the federal government to download to the provinces, and it's easiest for the provinces to want the federal government to take on more.”

Herewith, the front bench of the real opposition to the Tories in Ottawa.
Greg_Selinger  Robert_Ghiz  Kathy_Dunderdale  John_Ibbitson  loyal_opposition  Ontario  Stephen_Harper  Dalton_McGuinty  Alison_Redford  Alberta  provincial_governments  safety_nets  global_economy  GoC 
october 2011 by jerryking
Three Core Questions
OCTOBER 27, 2006 | SmartMoney.com | By DONALD LUSKIN.

Canadian economists Dan Ciuriak and John Curtis argue in a provocative new study that maybe we have “everything all wrong” about how the global economy works. They’ve identified a series of anomalies that “call into question the basic understanding of economics that underpins policy formulation today,” in their paper, What If Everything We Know About Economic Policy is Wrong?
personal_finance  Ken_Fisher  investment_advice  economists  anomalies  questions  pretense_of_knowledge  think_threes  global_economy 
october 2011 by jerryking
America’s Apple economy widens the winner-loser gap - The Globe and Mail
CHRYSTIA FREELAND | Columnist profile
ASPEN, COLO.— From Friday's Globe and Mail
Published Thursday, Jun. 30, 2011

“Innovation and Job Creation in a Global Economy: The Case of Apple’s
iPod,” was published last month in The Journal of International Commerce
and Economics. by Greg Linden, Jason Dedrick and Kenneth Kraemer, a
troika of scholars who have made a careful study in a pair of recent
papers of how the iPod has created jobs and profits around the world.
....One of their findings is that in 2006, the iPod employed nearly
twice as many people outside the United States as it did in the country
where it was invented – 13,920 in the United States and 27,250
abroad....That’s because the global economy over all – powered by the
emerging markets – continues to grow strongly, and Mr. Banks’s American
“high-net-worth individuals” are not just U.S. citizens, but global
capitalists.
Chrystia_Freeland  globalization  high_net_worth  Apple  global_economy  innovation  job_creation  iPod  design 
august 2011 by jerryking
Streetwise strategy for an urban future
March 28 2011 | FT.com | By Andrew Hill. The McKinsey Global
Institute, the consultancy’s research arm, has projected how hundreds of
cities may fuel the global economy in 2025. Its “Urban World” report
suggests a bigger contribution to growth, the lodestone of corporate
strategy, will come from places below the top rank than from megacities
like Shanghai, New York and Delhi. What’s more, 230 of those places –
“middleweight” cities, poised to expand – don’t even appear in today’s
top 600.

The report sends an urgent invitation to companies to rethink their
country- and continent-specific approach to strategy and look more
closely at urban centres and clusters. Farewell, Emea and Brics. Hello,
Huambo, Medan and Viña del Mar.
McKinsey  urban  Richard_Florida  demographic_changes  North_Star  cities  China  unilever  Yum_Brands  clusters  megacities  growth  global_economy 
march 2011 by jerryking
A New Vocabulary for Trade
Aug 4, 2005 | WSJ pg. A.12 | Jagdish Bhagwati. The flat world
metaphor is, , both inept and mistakenly alarming. The real problem in
the increasingly globalized economy is rather that most producers in
traded activities -- an expanding set because services have become
steadily more tradeable -- face intensified competition. A specific
producer here will find rival suppliers stealing up on him from
somewhere, whether Portugal, Brazil or Malaysia, indeed from sources
which may not include India and China....Historically, comparative
advantage was "thick," shielded by big buffers. This is no longer so:
not predictably from India and China, but almost certainly from
somewhere. Hence I use the metaphor: "kaleidoscopic comparative
advantage." Today, you have it; but in our state of knife-edge
equilibrium, you may lose it tomorrow and regain it the day after.
...[How quickly can Ontario's colleges pull together a new course? How
much of the content is general vs. specific? for Dianne-- pinboard search on "institutional_integrity" "legal system" ]
ProQuest  flat_world  globalization  Tom_Friedman  metaphors  India  China  comparative_advantage  impermanence  transient  kaleidoscopic  instability  accelerated_lifecycles  global_economy 
december 2010 by jerryking
Unboxed - Governments Embracing a Role in Innovation - NYTimes.com
June 20, 2009 | NYT | By STEVE LOHR. Innovation policy, to
be sure, is an emerging discipline, lacking crisp definitions or
metrics. What is the appropriate government role in creating industries
and jobs in today’s high-technology, global economy?...John Kao, a
former professor at HBS and founder of the Institute for Large Scale
Innovation....innovation policy is an attempt to bring some coordination
to often disparate government initiatives in scientific research,
education, business incentives, immigration and even intellectual
property....governments are increasingly wading into the innovation
game, declaring innovation agendas and appointing senior innovation
officials. The impetus comes from two fronts: daunting challenges in
fields like energy, the environment and health care that require
collaboration between the public and private sectors; and shortcomings
of traditional economic development and industrial policies.
innovation  large_companies  Finland  government  John_Kao  industrial_policies  shortcomings  scaling  policy  state-as-facilitator  global_economy  policymaking  innovation_policies 
december 2010 by jerryking
It’s a whole new game, and the U.S. doesn’t like the rules
Nov. 11, 2010 | G & M | Chrystia_Freeland. Mohamed
El-Erian, CEO of bond giant Pimco, and a former IMF economist, describes
the problem: “National responsibilities are conflicting with global
responsibilities for both the US & China. That is the real problem
for the global economy.”...Poor countries are accustomed to being told
by outsiders (e.g. IMF) what they need to do to participate in the
global economy...What's different today is that the world’s dominant
economy & its rising one are the 2 countries whose domestic
priorities are causing the greatest disruption for the rest of the
world. Small countries are used to accommodating big ones. But big
countries are accustomed to setting the rules. El-Erian believes that
“we will be writing about this period as one of fundamental global
realignment.” A big part of that realignment is figuring out how to
balance national needs against global ones--doing this is hard if you
are used to determining the international rules of the game.
Chrystia_Freeland  China  U.S.  rules_of_the_game  Mohamed_El-Erian  Pimco  global_economy 
november 2010 by jerryking
American Dream is Changing | Nye - Gateway to Nevada's Rurals
Oct. 31, 2010 | Nye Gateway | by Fareed Zakaria. What can
you do to make yourself thrive in this new global economy? (1) Be
unique. Try to do something that is a specialized craft or art,
something that is as much art as craft, something that feels more like
artisanship than routine work, things that are custom & custom-made
still survive. (2) Go local. Do something that can’t be outsourced,
jobs involving personal face-to-face contact will never go to India. (3)
Be indispensable. Can everyone become indispensable? Well, no, but if
you learn a difficult craft and are good at it, if you can collaborate
well, synthesize well, put things together, work with others and work
well across countries and cultures, you will have a leg-up. (4) Learn a
foreign language (e.g. Spanish or Mandarin or Hindi). (5) Excel at
mathematics, able to manipulate data, algorithms, symbols, graphs,
balance sheets and all of these skills are the essential skills for a
knowledge-based economy.
Fareed_Zakaria  21st._century  ksfs  indispensable  specialization  local  languages  mathematics  organizing_data  advice  new_graduates  artisan_hobbies_&_crafts  bespoke  quantitative  global_economy  digital_economy  knowledge_economy  the_American_dream  in-person  face2face  uniqueness 
october 2010 by jerryking
Fareed Zakaria on How to Restore the American Dream -- Printout -- TIME
Oct. 21, 2010 | TIME | By Fareed Zakaria. Job growth divides
neatly into 3 categories. (1) managerial, professional & technical
occupations, held by highly educated workers who are comfortable in the
global economy. Jobs have been plentiful in this segment for the past 3
decades. (3) service occupations, involving "helping, caring for or
assisting others," e.g.security guard, cook and waiter. Most of these
workers have no college education and get hourly wages that are on the
low end of the scale. Jobs in this segment too have been growing
robustly. In between are (3) skilled manual workers & those in
white collar operations like sales & office mgmt.--the beating heart
of the middle class. Those in them make a decent living, usually .the
median family income ($49,777), and they mostly did fine in the 2 two
decades before 2000. But since then, employment growth has lagged the
economy in general, It has been this middle-class segment which has been
hammered.
blue-collar  Fareed_Zakaria  America_in_Decline?  high-school_graduated  college-educated  hourly_workers  global_economy  the_American_dream  white-collar 
october 2010 by jerryking
Rock stars, Africa and the challenge to Canada
May. 10, 2010 | The Globe and Mail | by John Stackhouse,
Editor-In-Chief. "Today, in another first, Ory Okolloh – a fearless
Kenyan-born, Harvard-educated lawyer – will help run our website, from
her base in Johannesburg. If you go to globeandmail.com, you’ll find her
work and a rich hub devoted to G20 issues – from the global economy and
banks to terrorism and poverty. And yes, a lot of Africa. We’ll
continue to surprise you with new material right through the summit. "
Africa  Canada  John_Stackhouse  ufsc  fearlessness  global_economy 
august 2010 by jerryking
Off the Shelf - ‘Fault Lines’ Concludes Global Economy Remains Vulnerable - NYTimes.com
July 31, 2010 | NYT | By NANCY F. KOEHN reviews “Fault Lines:
How Hidden Fractures Still Threaten the World Economy” by Raghuram G.
Rajan who concludes that the financial crisis erupted “because in an
integrated economy and in an integrated world, what is best for the
individual actor or institution is not always best for the system.” Like
geological fault lines, the fissures in the world economic sys. are
more hidden and widespread than many realize. And they are potentially
more destructive than other culprits, e.g greedy bankers, sleepy
regulators and irresponsible borrowers. Rajan, a finance prof at the U.
of Chicago and former chief economist at the IMF argues that the
actions of these players (and others) unfolded on a larger worldwide
stage, that is subject to the imperatives of political economies. He
cites 3 fault lines: domestic political stresses; trade imbalances among
countries; and the tensions produced when financial sys. with very
different structures interact.
book_reviews  economic_downturn  financial_crises  crisis  threats  interconnections  interdependence  books  systemic_risks  vulnerabilities  fault_lines  hidden  latent  regulators  uChicago  global_economy  imbalances 
august 2010 by jerryking
Business.view: Not up in the air
Apr 20th 2010 | From The Economist online. The volcanic
disruption is a classic example of the sort of low-probability event
that might once have been marginal for businesses, but has acquired far
greater significance thanks to the growing interconnectedness of the
globalized economy.
risk-assessment  risk-management  natural_calamities  global_economy  low_probability 
april 2010 by jerryking
Holman Jenkins: China Convicts Itself - WSJ.com
* MARCH 31, 2010

China Convicts Itself
Beijing needs to commit to the global economy.

*
By HOLMAN W. JENKINS, JR.
Holman_Jenkins  China  global_economy 
april 2010 by jerryking
Stance by China to Limit Google Is Risk by Beijing - NYTimes.com
March 23, 2010 | New York Times | By MICHAEL WINES. Google’s
decision may not cause major problems for China right away, experts
said. But in the longer run, they said, China’s intransigent stance on
filtering the flow of information within its borders has the potential
to weaken its links to the global economy.

It may also sully its image — promoted to its own people as well as to
the international community — as an authoritarian country that is
economically on the move, perhaps even more so than the sclerotic,
democratic West. Bill Bishop, a Beijing Internet entrepreneur and author
of the technology blog Digicha,
Google  China  censorship  authoritarianism  global_economy 
march 2010 by jerryking
Emerging Markets, Emerging Giants
April 22, 2007 | New York Times | By WILLIAM J. HOLSTEIN. A
NEW wave of foreign competitive pressure is beginning to ripple through
the United States economy, from companies in emerging markets like
Brazil, Russia, India and China. “We are seeing a rebalancing of the
global economy back to where it was before the Industrial Revolution,
when China and India were major powers in the world.” says Antoine van
Agtmael, author of a new book, “The Emerging Markets Century: How a New
Breed of World-Class Companies Is Overtaking the World.” The emerging
multinationals haven’t had time to establish brand names, as Sony or LG
have done, but they will compensate for that. “They are either going to
buy American companies and use their brands or develop their own brand
names."
BRIC  globalization  KPMG  publishing  ripple_effects  Gadi_Prager  books  emerging_markets  multinationals  China  market_entry  mergers_&_acquisitions  M&A  brands  Industrial_Revolution  history  global_economy 
december 2009 by jerryking
Business Prophet
JANUARY 23, 2006 | Business Week | By Pete Engardio. Strategy
guru C.K. Prahalad is changing the way CEOs think. Prahalad's 2004 work
on the topic that today's needy masses are the future of the global
economy. His book, The Fortune at the Bottom of the Pyramid, has been
hailed as one of the most important business books in recent years and
turned Prahalad into a celebrity in the field of international
development. Trickle-up innovation.
Bottom_of_the_Pyramid  C.K._Prahalad  global_economy  gurus  India  Indian-Americans  Indians  international_development  low-income  management_consulting  reverse_innovation  strategy  trickle-up 
december 2009 by jerryking
Unboxed - Governments Embracing a Role in Innovation - NYTimes.com
June 20, 2009 | New York Times | By STEVE LOHR. The rising
worldwide interest in innovation policy represents the search to answer
an important question: What is the appropriate government role in
creating industries and jobs in today’s high-technology, global economy?
San_Antonio  innovation  government  start_ups  Steve_Lohr  PPP  economic_development  industrial_policies  innovation_policies  global_economy  policymaking 
june 2009 by jerryking

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