Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Globalization’

Only Radical Thinking and Action Can Tame Globalization

Posted by hkarner - 7. Juli 2017

Date: 06-07-2017
Source: SPIEGEL

The G-20 in an Unjust World

In Hamburg this week, thousands are preparing to launch protests against the exploitation of labor, the degredation of the environment and the extremes of capitalism. To solve the world’s problems, a radically new approach is necessary.

Can Our World Be Fixed?

There are injustices that have become so familiar that few are even bothered by them anymore. A brief reminder: Every 10 seconds, a child dies of starvation somewhere in the world, despite there being enough food on the planet to feed between 10 and 12 billion people — and the global population is just 7.5 billion. Almost 800 million people in the world live in extreme poverty, despite there being more money in the world than ever before. Fully 81 percent of the energy produced in the world is the product of burning fossil fuels, even though this practice warms the climate and alternatives such as wind and solar are available.

When G-20 leaders gather in Hamburg later this week, they will have an opportunity to at least mitigate some of the most blatant contradictions facing our world. After all, they are largely responsible for the existence of such contradictions in the first place. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »

A grim diagnosis for Western politics

Posted by hkarner - 24. Juni 2017

Date: 22-06-2017
Source: The Economist

Edward Luce believes that the liberal order cannot be fixed without a clear view of what has gone wrong

The Retreat of Western Liberalism. By Edward Luce. Grove Atlantic; 234 pages; $24. Little Brown; £16.99.

FEW doubt that something big happened in Western politics during the past 12 months but nobody is sure what. Turmoil in Washington and London contrasts with centrist stability in Paris and Berlin. Edward Luce, a commentator for the Financial Times in Washington, is well placed to observe the shifts and shocks. “The Retreat of Western Liberalism” offers a brisk, timely survey.

“Fusion”, the longest of just four chapters, describes the successes of economic globalisation, but also the costs borne by the less well-off in rich countries, notably Britain, America and France. Next, “Reaction” attributes the recent “degeneration” of Western politics to slowing economic growth and to the rich taking an undue share of what little growth there is. Den Rest des Beitrags lesen »

Posted in Books | Verschlagwortet mit: , , , , , , | Leave a Comment »

Why Globalization Stalled: And How to Restart It

Posted by hkarner - 15. Juni 2017

Date: 14-06-2017
Source: Foreign Affairs

For many decades after World War II, a broad range of countries shared a fundamental economic vision. They endorsed an increasingly open system for trade in goods and services, supported by international institutions; allowed capital, corporations, and, to a lesser extent, people to flow freely across borders; and encouraged the rapid spread of data and technology. As trade expanded, global living standards improved dramatically, and hundreds of millions of people escaped from poverty.

Today, every aspect of this globalized economy is under assault. A popular backlash against free trade and unrestricted cross-border movements of capital has picked up momentum. The ideal of freely flowing information has clashed with growing calls for privacy rights, the protection of intellectual property, and increased cybersecurity. Across the developed world, sentiments have turned strongly against immigration, especially as waves of Middle Eastern refugees have flooded Europe. And after several successful rounds of multilateral trade negotiations in the postwar years, new agreements have become much rarer: the World Trade Organization (WTO) has not completed a single full round of successful negotiations since its creation in 1995. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »

Now, Globalization With Chinese Characteristics

Posted by hkarner - 8. Juni 2017

Date: 07-06-2017
Source: YaleGlobal

Since 2009, when author Wenshan Jia coined the term “Chiglobalization,” China has continued to embrace globalization. China’s leaders have forged ahead with new connections in ways that outpace the rhetoric and globalization endeavors of Europe, the United Kingdom and the United States. “China’s initial effort to exercise global influence is subsequently solidified by the recent exponential growth of her outbound economic clout,” explains Jia, a professor of communication theory, referring to exports and foreign direct investment combined with grassroots connections through education and business. Cross-border interdependence and mutual influences have inspired terms like “Chimerica” and “Chinafornia.” Concerns over trade imbalances and jobs have prompted Donald Trump’s America First policies, which may hurt US soft-power endeavors and speed Chiglobalization. China’s advances in many areas place the country on a path for global leadership. Rather than pursue military connections with bases around the globe, China’s strategy depends on connections, infrastructure development, modernization for developing nations and a larger role in global governance. China once resisted globalization, but now defies containment. –

China defies containment and pursues globalization with strategy of connections, infrastructure development and modernization of developing nations
Wenshan Jia
Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »

The Renewal of Europe’s Center?

Posted by hkarner - 6. Juni 2017

Posted in Artikel | Verschlagwortet mit: , , , , , , , , | Leave a Comment »

The Need for Nations

Posted by hkarner - 5. Juni 2017

Date: 02-06-2017
Source: The Wall Street Journal

The ‘we’ of nationality binds people together, builds an important legacy of social trust and blunts the sharp edges of globalization

By Roger Scruton

There is a respectable opinion among educated people that nations are no longer relevant. Their reasoning runs roughly as follows:

We live in an interconnected world. Globalization and the internet have created new networks of belonging and new forms of social trust, by which borders are erased and old attachments vaporized. Yes, we have seen the growth of nationalism in Europe, the Brexit vote in the U.K. and the election of the populist Donald Trump, but these are signs of reactionary sentiments that we should all have outgrown. The nation-state was useful while it lasted and gave us a handle on our social and political obligations. But it was dangerous too, when inflamed against real or imaginary enemies.

In any case, the nation-state belongs in the past, to a society in which family, job, religion and way of life stay put in a single place and are insulated against global developments. Our world is no longer like that, and we must change in step with it if we wish to belong. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , | Leave a Comment »

The Liberal Order Is Rigged: Fix It Now or Watch It Wither

Posted by hkarner - 24. April 2017

Date: 23-04-2017
Source: Foreign Affairs

Prior to 2016, debates about the global order mostly revolved around its structure and the question of whether the United States should actively lead it or should retrench, pulling back from its alliances and other commitments. But during the past year or two, it became clear that those debates had missed a key point: today’s crucial foreign policy challenges arise less from problems between countries than from domestic politics within them. That is one lesson of the sudden and surprising return of populism to Western countries, a trend that found its most powerful expression last year in the United Kingdom’s decision to leave the EU, or Brexit, and the election of Donald Trump as U.S. president.

It can be hard to pin down the meaning of “populism,” but its crucial identifying mark is the belief that each country has an authentic “people” who are held back by the collusion of foreign forces and self-serving elites at home. A populist leader claims to represent the people and seeks to weaken or destroy institutions such as legislatures, judiciaries, and the press and to cast off external restraints in defense of national sovereignty. Populism comes in a range of ideological flavors. Left-wing populists want to “soak the rich” in the name of equality; right-wing populists want to remove constraints on wealth in the name of growth. Populism is therefore defined not by a particular view of economic distribution but by a faith in strong leaders and a dislike of limits on sovereignty and of powerful institutions. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , , , , | Leave a Comment »

Defending Digital Globalization

Posted by hkarner - 22. April 2017

ate: 21-04-2017
Source: Foreign Affairs

Let the Data Flow

Over the last 25 years, the Internet has become a conduit for trillions of dollars in commerce, transforming industries, national economies, and the nature of globalization itself. Today, as global trade in goods and services has plateaued and global financial flows have declined dramatically, cross-border data flows are exploding in volume. Data flows in and out of the United States alone are estimated at 80 terabytes per minute—eight times the size of the entire print content of the Library of Congress. Since 2005, they have increased by a factor of 80, from just 5 terabits per second to an estimated 400 per second.

International data flows take many forms. Individuals generate them through e-mails, Skype calls, e-commerce transactions, social media posts, and Internet searches, as well as through the consumption of digital goods from around the world. By 2020, consumers are expected to spend $1 trillion on cross-border e-commerce. But these flows are more than just consumer transactions and social media posts. They are an integral part of the way companies now operate. According to research we conducted at the McKinsey Global Institute (MGI), cross-border data flows already make a larger contribution to global GDP than the goods trade. We term this rapid increase in both the size and the value of cross-border data flows “digital globalization.” Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »

IWF entdeckt Schattenseiten der Globalisierung

Posted by hkarner - 20. April 2017

András Szigetvari aus Washington, 20. April 2017, 07:15 derstandard.at

Der Streit um Globalisierung, Freihandel und Ungleichheit dominiert Wahlkämpfe in Europa und den USA. Nun springt der Währungsfonds auf das Thema auf

Washington – Von ihrem kleinen Büro an der 19th Street in Washington, D.C., hat Mitali Das in den vergangenen Monaten die Revolution vorbereitet. Die Ökonomin arbeitet für den Internationalen Währungsfonds (IWF). Sie sammelte Daten aus dutzenden Ländern. Ein Team unter ihrer Leitung führte die Kalkulationen durch, jedes Ergebnis wurde penibel nachgeprüft. Fehler durften nicht passieren, dafür war die Materie zu heikel. In einer soeben publizierten Studie ist Mitali Das der Frage nachgegangen, wie sich globaler Handel und technischer Fortschritt auf Einkommen und Einkommensverteilung ausgewirkt haben.

Wo der IWF in dieser Frage ideologisch steht, ist klar: Jahrzehntelang haben die Experten des Fonds gepredigt, dass Liberalisierung und Marktöffnung der beste Weg zu mehr Wohlstand für alle sind. Ungleichheit und Verteilungsfragen spielten in diesen Überlegungen keine Rolle. Die Arbeiten von Das, einer indischstämmigen ehemaligen Professorin an der Columbia-Universität, haben das verändert.

Lohnquote

Die Ökonomin und ihre Kollegen haben sich angesehen, wie sich der Anteil der Arbeitseinkommen im Verhältnis zur Wirtschaftsleistung (BIP) entwickelt hat. Unter die Lupe genommen wurde die Entwicklung dieser Lohnquote in 50 Ländern seit 1991. Das Ergebnis: Weltweit erhalten Arbeiter und Angestellte heute in der Mehrzahl der Länder einen geringeren Teil vom erwirtschafteten Wohlstand als zu Beginn der 1990er-Jahre. Auf Kapitalerträge dagegen entfällt ein größerer Teil des Kuchens. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , , , , , | Leave a Comment »

«The Fundamental Problems of the Financial Crisis Are Still with Us»

Posted by sschleicher - 13. April 2017

Christoph Gisiger, Chicago, Finanz und Wirtschaft, April 7, 2017

Raghuram Rajan: «The US housing boom was an attempt to ward off the changes caused by technological progress, global trade and the disappearance of many middle-class jobs.»

Raghuram Rajan, Professor of Finance at the University of Chicago and former governor of the Reserve Bank of India, warns of more turmoil ahead if the developed world fails to adapt to the fundamental forces of global change.It is a pivotal moment on the eve of the financial crisis. In the late summer of 2005, the world’s most influential central bankers and economists gather in Jackson Hole at the foot of the Rocky Mountains. The atmosphere is carefree. Financial markets have nicely recovered from the bust of the dotcom bubble and the global economy is humming. Under the topic »Lessons for the Future» the presentations celebrate the era of Federal Reserve chairman Alan Greenspan, who has announced to resign in a few months. Since 1987 at the helm of the world’s most powerful central bank, he presided over a period of continuous growth and was one of the leading forces of deregulation in the financial sector. Den Rest des Beitrags lesen »

Posted in Artikel | Verschlagwortet mit: , , | Leave a Comment »