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All the world wealth in one chart

Posted by hkarner - 24. Januar 2020

howmuch.net

  • the U.S. remains by far the richest country in the world, controlling some $105.99T of wealth, or almost 30% of the entire world’s net worth.
  • Taken together, countries in Asia have a higher net worth than the U.S. at $141.21T, or about 39% of the world’s total.
  • The poverty of underdeveloped countries is also obvious in our visual. Africa and Latin America only control 1.14% and 2.75% of the world’s wealth, respectively.
  • The U.S., Europe and China control comparable amounts of the world’s wealth, indicating how important trade relationships are to the global economy.

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Germany’s Luxury Car Makers Lose their Shine

Posted by hkarner - 24. Januar 2020

Date: 23‑01‑2020

Source: The Wall Street Journal

Increased competition, legal woes and the push toward electric vehicles hit profits at Daimler, Volkswagen, BMW and Audi

Daimler—owner of the Mercedes‑Benz brand—issued its third profit warning in nine months and said profits fell nearly 50% last year.

BERLIN—After decades of churning out huge profits and setting the standard for premium cars, Germany’s top luxury auto makers are on the retreat, hurt by increased competition, allegations of foul play and tech‑heavy upstarts. 

The combination of forces hitting the German premium brands was on display Wednesday, when Daimler AG  —owner of the Mercedes‑Benz brand—issued its third profit warning in nine months and said profits fell nearly 50% last year. In addition, Tesla Inc. overtook Volkswagen AG as the world’s No. 2 most valuable auto maker. Den Rest des Beitrags lesen »

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The War on Talent

Posted by hkarner - 24. Januar 2020

Anne-Marie Slaughter, a former director of policy planning in the US State Department (2009-2011), is CEO of the think tank New America, Professor Emerita of Politics and International Affairs at Princeton University, and the author of Unfinished Business: Women Men Work Family.

Monica Chellam, former US State Department Foreign Service Officer, works in the technology industry.

A growing body of research suggests that CEOs share more relevant traits with Chief Human Resources Officers than with those of any other C-Suite position. But while CHROs may have a seat at the table, that seat’s occupant – more often than not a woman – is still least likely to become CEO.

WASHINGTON, DC – In the 1950s, during a very tight postwar labor market, American business executives voted Human Resources (HR) the most glamorous area in business. As Wharton School professor Peter Cappelli recounts, “90% of positions (and virtually all those in the top ranks) were filled from within – and 96% of large companies dedicated an entire department to planning for workforce needs.” When companies need talent, he argues, the prestige of HR goes up; when labor markets go slack, HR returns to benefits administration.

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Finding Europe’s Way in the World

Posted by hkarner - 23. Januar 2020

Sigmar Gabriel

Sigmar Gabriel, former Vice Chancellor and Foreign Minister of Germany, is Chairman of Atlantik-Brücke.

Michael HütherMichael Hüther, Director and Member of the Presidium of the German Economic Institute, is a vice chairman of Atlantik-Brücke.

For historical reasons, Europe has long resided in the strategic shadow of the United States, which itself has underwritten decades of globalization and rapidly expanding prosperity. But the global balance of power is rapidly shifting, leaving Europe increasingly exposed.

BERLIN – The European Union, and particularly Germany, have yet to rise to the challenge posed by the United States’ retreat from global leadership. But, given the new competition from China, together with Russia’s renewed great-power aspirations, Western countries must find a way to cooperate more closely. 

To that end, five issues seem vital. The first is Germany’s relationship with the US, which is now under severe stress. The elephant in the room is Germany’s failure to increase its annual defense spending to 2% of GDP, as agreed at the 2014 NATO summit in Wales. For obvious historical reasons, Germany is hesitant to become Europe’s de facto military power. Were it to meet its spending commitment, it would be allocating €80 billion ($89 billion) per year to the Bundeswehr, which is €46 billion more than what France spends. Den Rest des Beitrags lesen »

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Wer zahlt für den grünen Deal?

Posted by hkarner - 23. Januar 2020

Hans-Werner Sinn, Professor of Economics at the University of Munich, was President of the Ifo Institute for Economic Research and serves on the German economy ministry’s Advisory Council. He is the author, most recently, of The Euro Trap: On Bursting Bubbles, Budgets, and Beliefs.

MÜNCHEN – Die EU-Kommission hat Großes vor. Sie will ein eine Billion Euro schweres Klimapaket schnüren, das den Weg in eine kohlenstofffreie Wirtschaft bis zum Jahr 2050 eröffnet. Die Summe soll freilich vor allem durch finanzielle Hebelwirkungen zustande kommen. Das echte Geld, das die EU für diese Zwecke bereit stellt, beträgt im Jahr 2020 nur etwa 40 Mrd. Euro, und davon war der Löwenanteil auch schon vorher eingeplant.  Neu sind wohl nur 7,5 Mrd. Euro. 

Wie schon bei dem erstmals im Jahr 2015 aufgelegten Juncker-Fonds besteht der Trick auch dieses Mal darin, dass der Löwenanteil der genannten Summe über einen Schattenhaushalt aufgebracht wird, den die Europäische Investitionsbank verwalten soll. Die EU-Kommission selbst darf zwar keine Schulden aufnehmen, doch die intergouvernementalen Rettungs- und Investitionsfonds der EU dürfen es. Ähnlich wie die großen Banken die Regulierung vor der Finanzkrise umgangen hatten, indem sie einen Teil ihres Geschäft in in außerbilanzielle Conduits und Zweckgesellschaften verlagerten, verhält sich auch die EU.

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Trade Tensions With Europe Flare as Trump Flexes Economic Muscle

Posted by hkarner - 23. Januar 2020

Date: 22‑01‑2020

Source: The Wall Street Journal

President says he will impose new tariffs on European car imports if EU doesn’t agree to a new trade pact

President Trump talked Tuesday to reporters at the World Economic Forum in Davos, Switzerland. He threatened European allies with new tariffs.

DAVOS, Switzerland—Fresh threats by the U.S. to place tariffs on some of its closest allies—just days after reaching an initial trade deal with China—show that economic pressure remains President Trump’s weapon of choice in international disputes.

Even as he lauded the phase‑one deal the U.S. signed with China last week, Mr. Trump on Tuesday threatened another trade fight with Europe. Mr. Trump, in an interview on the sidelines of the World Economic Forum, said he would impose new tariffs on European car imports if the European Union didn’t agree to a new trade agreement.

Hours earlier, U.S. Treasury Secretary Steven Mnuchin  warned that Italy and Britain would face U.S. levies if they proceeded with a tax on American digital giants such as Alphabet Inc.’s Google and Facebook Inc Den Rest des Beitrags lesen »

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Make no mistake: Poland and Hungary aren’t the only EU states abusing the law

Posted by hkarner - 23. Januar 2020

Date: 22‑01‑2020

Source: The Guardian by Agata Gostynska‑Jakubowska

Countries from Britain to Greece are guilty of democratic backsliding. And that threatens the integrity of the EU itself

‘It has been 10 months since the European People’s party said it would consider the fate of Hungary’s ruling party, Fidesz’, led by Viktor Orbán.

Mention concerns about the rule of law in certain EU countries, and people, even EU officials, automatically assume you are referring to Hungary and Poland. Without doubt, the state of democracy in both countries is worrying. Buoyed by strong electoral mandates, their populist governing parties are interfering with the independence of the judiciary and increasing state control of other institutions, including the media. But an equally worrying trend is less talked about. The decline in respect for the rule of law is happening elsewhere in the EU – indeed, it is an EU‑wide issue and it has the potential to undermine the functioning of the entire bloc.

The World Bank’s governance indicators show a deterioration in Bulgaria, France, Italy and Greece

Make no mistake, the European commission is justified in responding to developments in Warsaw and Budapest. Efforts there to undermine liberal democracy have been flagrant. The EU has responded by launching the so‑called article 7 procedure, sometimes referred to as the nuclear option, as it can ultimately lead to a country being stripped of its voting rights. It has also pursued legal cases against the two states at the European court of justice. Den Rest des Beitrags lesen »

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The Great U.S.‑China Tech Divide

Posted by hkarner - 22. Januar 2020

Date: 21‑01‑2020

Source: The Wall Street Journal

The two countries are headed toward a world where they will have mutually exclusive systems for all important forms of technology

U.S.‑China tech tension centered initially on Huawei and the telecom sector, but has since spread through most of the tech industry. 

In terms of technology, the world had been unifying for years. Now it is reverting back to the likes of the VHS‑versus‑Betamax era, with much bigger consequences.

 Imagine two countries with completely different sets of hardware and software for the internet, electronic devices, telecommunications, and even social media and dating apps.

 That is the direction the U.S. and China are headed in—a world where the two global powers have mutually exclusive technology systems. Den Rest des Beitrags lesen »

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Trump’s greatest ally in the coming election? Facebook

Posted by hkarner - 22. Januar 2020

Date: 21‑01‑2020

Source: The Guardian by John Harris

The internet giant has exempted politics from regulations on falsehood. Good news for a candidacy built on lies

‘The most egregious aspect of the way Facebook treats politics remains untouched.’ An anti‑Facebook protest at the US Capitol Building in 2018.

If you want to know why the worst president in US history currently stands a very good chance of winning again, consider a few facts. Donald Trump’s re‑election campaign is already in full flow, brimming with cash, drenching social media with targeted ads, and reaping oceans of data on voters.

The impeachment drama is, predictably enough, the perfect opportunity to put out material that plays to the idea of Trump as a noble maverick, struggling against the liberal conspiracy implied by his online questionnaires: “Do you agree that President Trump has done nothing wrong? Do you believe the Democrats will try and make up LIES to impeach the president?” Den Rest des Beitrags lesen »

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All Aboard the Crazy Train

Posted by hkarner - 22. Januar 2020

Date: 21‑01‑2020

Source: The Wall Street Journal By Walter Russell Mead

Or at least that’s how populism’s rise feels to those at the World Economic Forum.

Davos, Switzerland

For half a century the annual meeting of the World Economic Forum has brought a mix of business leaders, politicians, pundits, academics, activists, “social entrepreneurs” and celebrities to this small village high in the Swiss Alps. For the year‑round inhabitants, the conference is a mixed blessing. Security barriers and heavy traffic turn the narrow streets into a nightmare. With well‑situated one‑bedroom apartments renting for as much as $5,000 a night, however, many a Davos‑dweller can escape the madness and pocket a nice profit. The resort’s hotels also make out well; with corporations and governments competing to reserve ballrooms and salons for their events, local hoteliers can clear more in a week than they likely could make during the whole ski season in the old pre‑WEF days.

There is something inescapably ridiculous about a gathering this self‑important; certainly Marie Antoinette and her friends dressing up as shepherdesses to celebrate the simple life has nothing on the more than 100 billionaires descending, often by private jet, on an exclusive Swiss ski resort for four days of ostentatious hand‑wringing about the problems of the poor and the dangers of climate change. This year an earnest young aide at registration told me that, to reduce the event’s carbon footprint, no paper maps of the town were being distributed; one could almost feel the waves of relief from the nearby Alpine glaciers at this sign of green progress. Den Rest des Beitrags lesen »

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