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Archive for 12. Juni 2019

Globalization’s Wrong Turn

Posted by hkarner - 12. Juni 2019

Date: 11-06-2019
Source: Foreign Affairs By Dani Rodrik

And How It Hurt America

Globalization is in trouble. A populist backlash, personified by U.S. President Donald Trump, is in full swing. A simmering trade war between China and the United States could easily boil over. Countries across Europe are shutting their borders to immigrants. Even globalization’s biggest boosters now concede that it has produced lopsided benefits and that something will have to change.

Today’s woes have their roots in the 1990s, when policymakers set the world on its current, hyperglobalist path, requiring domestic economies to be put in the service of the world economy instead of the other way around. In trade, the transformation was signaled by the creation of the World Trade Organization, in 1995. The WTO not only made it harder for countries to shield themselves from international competition but also reached into policy areas that international trade rules had not previously touched: agriculture, services, intellectual property, industrial policy, and health and sanitary regulations. Even more ambitious regional trade deals, such as the North American Free Trade Agreement, took off around the same time.

In finance, the change was marked by a fundamental shift in governments’ attitudes away from managing capital flows and toward liberalization. Pushed by the United States and global organizations such as the International Monetary Fund and the Organization for Economic Cooperation and Development, countries freed up vast quantities of short-term finance to slosh across borders in search of higher returns. Den Rest des Beitrags lesen »

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Foxconn Says Prepared to Move Apple Production Out of China if Necessary

Posted by hkarner - 12. Juni 2019

Date: 11-06-2019
Source: The Wall Street Journal

Taiwan-based company tries to brush off investor worries over U.S.-China trade row

A Foxconn executive said the company’s manufacturing capacity outside of China is sufficient to meet demand in the U.S. from Apple and other customers.

HONG KONG— Foxconn Technology Group said it is ready to shift production out of China if necessary for Apple Inc., its biggest customer, as the electronics assembler tried to assuage investors’ concerns over the U.S.-China trade conflict.

In its first-ever investor meeting and conference call since going public in 1991, senior executives at Taiwan-based Foxconn sought to address investor uncertainty as it prepares for a leadership transition.

Tuesday’s events were aimed at outlining a succession plan for when Terry Gou, Foxconn’s founder, stands down as chairman to focus on his campaign for Taiwan’s presidency. Den Rest des Beitrags lesen »

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