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Archive for 13. Juli 2019

Supply chains are undergoing a dramatic transformation

Posted by hkarner - 13. Juli 2019

Date: 11-07-2019
Source: The Economist

This will be wrenching for many firms, argues Vijay Vaitheeswaran

Tom linton, chief procurement and supply-chain officer at Flex, an American contract-manufacturing giant, has his finger on The Pulse. That is the name of his firm’s whizzy command centre in California, which is evocative of a Pentagon war room. The kit allows him to monitor Flex’s 16,000 suppliers and 100-plus factories, producing everything from automotive systems to cloud-computing kit for over 1,000 customers worldwide. Mr Linton is one of the acknowledged kings of the supply chain—the mechanism at the heart of globalisation of the past few decades by which raw materials, parts and components are exchanged across multiple national boundaries before being incorporated into finished goods. Ask him about the future, however, and he answers ominously: “We’re heading into a post-global world.”

A few years ago that would have been a heretical thought. The combination of the information-technology revolution, which made communications affordable and reliable, and the entry of China into the world economy, which provided bountiful cheap labour, had transformed manufacturing into a global enterprise. In his book “The Great Convergence”, Richard Baldwin argues that the resulting blend of Western industrial know-how and Asian manufacturing muscle fuelled the hyper-globalisation of supply chains. From 1990 to 2010, trade boomed thanks to tariff cuts, cheaper communications and lower-cost transport. Den Rest des Beitrags lesen »

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The most dangerous man in Europe

Posted by hkarner - 13. Juli 2019

Date: 11-07-2019
Source: The Economist

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How to defuse the threat that Matteo Salvini poses to the euro
There needs to be a deal between the European Commission and Italy

On july 8th euro-zone watchers breathed a sigh of relief. The zone’s 19 finance ministers backed the European Commission’s decision that Italy should not be penalised for allowing its public-debt burden to rise in 2018 in violation of the eu’s fiscal rules. Thanks to savings of 0.4% of gdp for the current year, cobbled together by Italy’s governing coalition, a damaging confrontation seems to have been resolved.

In truth, however, it has merely been postponed. The grim reality of Italy’s public finances remains unchanged. Its deficit is on course to exceed the eu’s threshold of 3% of gdp in 2020, its debt is sky high and, worst of all, it is plagued by a persistent absence of growth. If Italy is to dispel the ever-present air of crisis, a much more far-sighted deal will be needed.

Since the euro was introduced, over 20 years ago, Italy has steadily fallen behind the rest of Europe. The average citizen in Germany, France and Spain is a fifth better off, in real terms, than in 1999; incomes in eastern Europe have more than doubled. But the average Italian is no richer. Den Rest des Beitrags lesen »

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attac fordert elektronisches Zentralbankgeld für alle

Posted by hkarner - 13. Juli 2019

Monetative e.V. 12/07
Die Bundes-AG Finanzmärkte und Steuern von attac fordert in ihren aktuellen „Vorschlägen zur Regulierung der Finanzmärkte“ auf Seite 5 unter anderem folgendes:
Jeder Bürger hat Anspruch auf ein kostenfreies Konto bei der Zentralbank. Das dort gelagerte Geld ist elektronisches Zentralbankgeld und damit gleichwertig zu Bargeld.“
In der dazugehörigen Pressemeldung „Mit Facebook-Geld droht völlige Privatisierung des Geldes  wird diese Forderung weiter konkretisiert. In der attac-Sommerakademie in Bochum wird am 1. August eine Kampagnenidee mit dem Namen „Das Geld gehört uns- das Girokonto mir“ präsentiert und ausgearbeitet. Gerne rufen wir dazu auf, bei der Ausarbeitung dieser Kampagne mitzuarbeiten (Anmeldung bis zum 24.7.) und werden diese als Verein Monetative e.V. auch nach Kräften unterstützen! Den Rest des Beitrags lesen »

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Germany Inc. Shudders as Deutsche Bank, Others Face Challenges

Posted by hkarner - 13. Juli 2019

Date: 12-07-2019
Source: The Wall Street Journal

From Bayer to BASF, Germany’s best-known corporations have hit a rough patch

Many of Germany’s best-known companies are struggling. Earlier this year, VW said it would cut 7,000 jobs.

BERLIN—German efficiency has taken a hit this year as many of the country’s most recognizable corporate names have faced setbacks, hurt by a slowing local economy, questionable business decisions and trouble shifting to a digital world.

In the past week, Deutsche Bank AG abandoned its global ambitions and initiated layoffs, the chief executive of BMW AG said he would step down. Sharp profit warnings from BASF SE and Daimler AGwhich issued its second in less than a month on Fridayhave rattled markets.

That news followed the continuing legal woes facing Bayer AG for its acquisition of Monsanto, the maker of weedkiller Roundup, and continued fallout for auto makers from the diesel-emissions scandal and depressed global new car sales. Meanwhile, German blue chips from software maker SAP SE to industrial giant Thyssenkrupp AG have announced a combined tens of thousands of job cuts this year.

One in three large public companies in Germany’s DAX index have reported profit warnings, job cuts or restructurings, or are dealing with legal disputes or investigations from authorities. More firms based here are slipping from the rankings of the most valuable global companies, leading consulting firm Ernst & Young to conclude this month that “German companies are losing their importance.”
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How conservatives—on the left and on the right—can defeat the populists

Posted by hkarner - 13. Juli 2019

Date: 12-07-2019
Source: The Economist: Open Future

Oakeshott! thou shouldst be living at this hour: the world hath need of thee

MICHAEL OAKESHOTT is largely forgotten. Even at the peak of his powers, as a professor of political science at the London School of Economics from 1951 to 1969, he was overshadowed by more demonstrative talents of both right and left: Karl Popper, F.A. Hayek and Harold Laski (all more or less contemporaries at LSE). Yet Oakeshott has more to teach us about our turbulent, populist times than the others, let alone the more illustrious names in the Conservative canon.

Oakeshott’s focus was on the conduct of politics itself, with governance. Unconcerned with the minutiae of policy proposals or manifesto pledges, his work was to articulate a praxis of politics to serve a nation. He was writing at a time when –isms dominated politics. Keynesianism, socialism and central planning had captured the politics of the West, while varying degrees of collectivism and Communism prevailed behind the Iron Curtain. But Oakeshott’s was a rare voice rejecting the received wisdom of the day.

In his most famous essay, “Rationalism in Politics”, published in 1962, he attacked the intellectual conceit that underpins all these –isms, namely the misplaced faith in “rationalism” that stemmed from the 18th-century enlightenment. “To the Rationalist”, Oakeshott wrote, “nothing is of value merely because it exists (and certainly not because it has existed for many generations), familiarity has no worth, and nothing is to be left standing for want of scrutiny.” Den Rest des Beitrags lesen »

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