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Archive for 5. Juni 2019

Trump’s Case Against Europe

Posted by hkarner - 5. Juni 2019

Date: 04-06-2019
Source: The Wall Street Journal By Walter Russell Mead

The president sees Brussels as too weak, too liberal, and anti-American on trade.

President Trump

“Why does he hate us?” is the question American foreign-policy types often hear from European friends and colleagues when the subject of Donald Trump comes up—as it often does. With Mr. Trump and Secretary of State Mike Pompeo in Europe this week, it seems an auspicious time to attempt an answer.

The news isn’t all bad. When Mr. Trump and senior administration officials talk about China, they attack it for abusing the international system in a ruthless quest for global hegemony. Their reading of Europe is different: that a mix of dysfunctional policies, unrealistic ideas about world politics, and poor institutional arrangements has locked the Continent on a trajectory of decline. As Mr. Trump’s team sees it, they aren’t trying to weaken Europe; they are trying to save Europe from itself.

There are five elements of the Trump critique of the European Union. First, some of the “new nationalists” believe multinational entities like the EU are much weaker and less effective than the governments of nation-states—so much so that the development of the EU has weakened the Western alliance as a whole. In this view, cooperation between nation-states is good and through it countries can achieve things they couldn’t achieve on their own. But trying to overinstitutionalize that cooperation is a mistake. The resulting bureaucratic structures and Byzantine politics and decision-making processes paralyze policy, alienate public opinion, and create a whole significantly less than the sum of its parts. Den Rest des Beitrags lesen »

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The End of the World As We Know It

Posted by hkarner - 5. Juni 2019

Date: 04-06-2019
Source: by Joschka Fischer

Joschka Fischer was German Foreign Minister and Vice Chancellor from 1998-2005, a term marked by Germany’s strong support for NATO’s intervention in Kosovo in 1999, followed by its opposition to the war in Iraq. Fischer entered electoral politics after participating in the anti-establishment protests of the 1960s and 1970s, and played a key role in founding Germany’s Green Party, which he led for almost two decades.

Last month, under pressure from US President Donald Trump’s administration, Google terminated its cooperation with Huawei, thereby depriving the Chinese smartphone maker of the license to use Google’s Android software and related services. The move marks both a new pinnacle in the Sino-American conflict and the end of US-led globalization.

BERLIN – After three decades of moving toward a single global market governed by the rules of the World Trade Organization, the international order has undergone a fundamental change. The United States and China are locked in a tariff war that at first seemed to be about the bilateral trade balance, but has turned out to be about much more. Until recently, one could find hope in the fact that, despite frequent exchanges of threats, the two countries were negotiating. Not anymore. Den Rest des Beitrags lesen »

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China Deserves Donald Trump

Posted by hkarner - 5. Juni 2019

Date: 04-06-2019
Source: The New York Times By Thomas L. Friedman

It took a human wrecking ball to get China’s attention.

President Trump insists that his tough approach to China will benefit the United States.

A U.S. businessman friend of mine who works in China remarked to me recently that Donald Trump is not the American president America deserves, but he sure is the American president China deserves.

Trump’s instinct that America needs to rebalance its trade relationship with Beijing — before China gets too big to compromise — is correct. And it took a human wrecking ball like Trump to get China’s attention. But now that we have it, both countries need to recognize just how pivotal this moment is.

The original U.S.-China opening back in the 1970s defined our restored trade ties, which were limited. When we let China join the World Trade Organization in 2001, it propelled China into a trading powerhouse under rules that still gave China lots of concessions as a developing economy.

This new negotiation will define how the U.S. and China relate as economic peers, competing for the same 21st-century industries, at a time when our markets are totally intertwined. So this is no ordinary trade dispute. This is the big one. Den Rest des Beitrags lesen »

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Lega-Chef Salvini will Parallelwährung in Italien

Posted by hkarner - 5. Juni 2019

Dominik Straub aus Rom, 3. Juni 2019, 09:00 derstandard.at

Partei fordert Ausgabe staatlicher Schuldtitel in kleiner Stückelung – diese könnten den Euroaustritt einleiten, warnen Experten

Rom – Sollte es in naher Zukunft zu einem Ausscheiden Italiens aus der europäischen Einheitswährung kommen, dann kennt man inzwischen das genaue Datum, wann der erste Schritt dazu eingeleitet wurde: am 28. Mai 2019. An diesem Tag hat die italienische Abgeordnetenkammer einen Antrag verabschiedet, der es der Regierung erlaubt, die zweistelligen Milliardenschulden des italienischen Staates gegenüber den einheimischen Unternehmen unter anderem auch durch die Ausgabe von sogenannten Mini-Bots in kleiner Stückelung zu begleichen. Bot ist die Abkürzung für Buono ordinario del tesoro: Staatsanleihen mit kurzer Laufzeit (maximal zwölf Monate), die normalerweise zur Erhöhung der kurzfristigen Liquidität des Staates dienen. Der Nennwert der bisherigen Bots lautet auf mindestens 1.000 Euro – und genau das ist der Haken der neuen Mini-Bots: Bei diesen läge der Nennwert bei 100 Euro oder noch tiefer. Experten warnen: Sind die neuen Mini-Bots erst einmal ausgegeben, könnten sie schnell als Zahlungsmittel verwendet werden – und so zu einer Art Parallelwährung werden.

Austritt in Trippelschritten

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1989 and the Birth of State Capitalism in China

Posted by hkarner - 5. Juni 2019

Date: 04-06-2019
Source: The Wall Street Journal

In the 1980s, Beijing allowed decentralized markets to flourish and private firms to prosper. After Tiananmen, the party took more economic control to ensure its own power and survival.

China’s 1989 massacre of pro-democracy protesters in Beijing is remembered as a pivot point in the country’s political evolution. But the crackdown also prompted a historic shift in China’s economic reforms—one that would unleash three decades of explosive growth while laying the groundwork for many of China’s present-day troubles, including its escalating confrontation with the U.S.

The Tiananmen crackdown triggered an exodus from policy-making of a generation of young economists who, three years after Mao Zedong’s death in 1976, had begun overhauling China’s collapsing command economy. One of them was Zhang Weiying, who had been drafted into service by a government-run think tank after writing an influential paper on price reform in 1984 as a 24-year-old graduate student. In the frenzied first decade of economic liberalization, Mr. Zhang was among dozens of scholars in their 20s or 30s who worked on reforms that allowed China’s farmers to sell surplus crops and open small businesses, while transferring revenues and authority from the central government to local authorities. Den Rest des Beitrags lesen »

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