Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Globalization’

Davos Leader Sees Progress in Trump’s First Year

Posted by hkarner - 11. Januar 2018

Is he so positive because Trump is attending??? He ruins the credibility of the WEF! (hfk)

Date: 10-01-2018
Source: The Wall Street Journal

Klaus Schwab tells WSJ Editor in Chief Gerard Baker fears of confrontation haven’t come to pass

Prof. Klaus Schwab, who heads the World Economic Forum in Davos, Switzerland, spoke with The Wall Street Journal’s Editor in Chief Gerard Baker.

President Donald Trump has had a rough first year in office but has made important diplomatic progress with China and other key countries toward resolving some of the biggest sources of international tension, according to the head of the World Economic Forum.

In an interview ahead of the 48th annual meeting of the gathering of world leaders in politics, business, culture and the arts in Davos, Switzerland, Professor Klaus Schwab  expressed concern that the U.S. president had upended many of the norms of international relations in his first year in office but noted that fears of greater global tension had not been realized. Den Rest des Beitrags lesen »

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Globalisation may soon accelerate again – time to get domestic policies right

Posted by hkarner - 20. Dezember 2017

Professor of International Economics, Graduate Institute, Geneva; President of CEPR; Vox Editor-in-Chief

Managing Director of the Research Institute of the Finnish Economy (ETLA)

Richard Baldwin, Vesa Vihriälä 19 December 2017, voxeu

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The Globalization of Our Discontent

Posted by hkarner - 6. Dezember 2017

Joseph E. Stiglitz, recipient of the Nobel Memorial Prize in Economic Sciences in 2001 and the John Bates Clark Medal in 1979, is University Professor at Columbia University, Co-Chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and Chief Economist of the Roosevelt Institute. A former senior vice president and chief economist of the World Bank and chair of the US president’s Council of Economic Advisers under Bill Clinton, in 2000 he founded the Initiative for Policy Dialogue, a think tank on international development based at Columbia University. His most recent book is Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump

Globalization, which was supposed to benefit developed and developing countries alike, is now reviled almost everywhere, as the political backlash in Europe and the US in recent years has shown. The challenge is to minimize the risk that the backlash will intensify, and that starts by understanding – and avoiding – past mistakes.

NEW YORK – Fifteen years ago, I published Globalization and Its Discontents, a book that sought to explain why there was so much dissatisfaction with globalization within the developing countries. Quite simply, many believed that the system was “rigged” against them, and global trade agreements were singled out for being particularly unfair.

Now discontent with globalization has fueled a wave of populism in the United States and other advanced economies, led by politicians who claim that the system is unfair to their countries. In the US, President Donald Trump insists that America’s trade negotiators were snookered by those from Mexico and China. Den Rest des Beitrags lesen »

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Left in the lurch: Globalisation has marginalised many regions in the rich world

Posted by hkarner - 21. Oktober 2017

Date: 19-10-2017
Source: The Economist

What can be done to help them?

EVEN before the disaster, Scranton had been having a poor century. In 1902 the Lackawanna Steel Company left north-east Pennsylvania in search of better access to transport and a less assertive labour force. The area still had coal, and enough spark to start new industries: in the 1920s a local button-maker became the country’s leading presser of 78rpm records. But after the second world war demand for coal fell. Then, in 1959, miners working coal seams broke through the bed of the Susquehanna river, which flowed into the caverns below like bathwater swirling down a plughole. The mines never recovered.

The damage is in plain sight. The valley through which the Susquehanna runs is lined with shuttered factories. The city of Scranton faced near-bankruptcy in 2012. Yet despite almost a century of economic blows, more than half a million people remain in the area. It is a similar story in a host of other once-proud parts of the industrialised world. They have not found ways to thrive in a digitised, globalised economy. But they have not disappeared. Den Rest des Beitrags lesen »

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Germany’s Economic Road Ahead

Posted by hkarner - 26. September 2017

Clemens Fuest is President of the Ifo Institute and Professor of Economics at the University of Munich.

The next German government will have a chance to lay the groundwork for the country’s future prosperity. But if policymakers are to make the most of the opportunity, they will have to act neither rashly nor reticently.
MUNICH – The next German government will face economic-policy challenges in five key areas: digitalization and automation, demographic change, globalization, climate change, and European integration. 

With respect to digitalization, Germany tends to fluctuate between excessive enthusiasm for expanding fiber-optic networks and fear of the impact of new, largely unregulated business models, such as those underpinning avatars of the “sharing economy” like Uber and Airbnb.

But German policymakers must not respond to such sentiments with kneejerk reactions. Rolling out a nationwide fiber-optic network, rather than simply servicing the locales that are most in need, would be both expensive and inefficient. And politicians should focus their regulatory efforts on ensuring that sensible digital business models and private investment are not obstructed. Den Rest des Beitrags lesen »

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BIS Says Globalization Is Answer to Inflation Puzzle

Posted by hkarner - 24. September 2017

Date: 23-09-2017
Source: The Wall Street Journal

Bank’s chief economist says research has implications for central-bank policy

The Yangshan deep-water port in Shanghai, China. Globalization is the most likely explanation for surprisingly low rates of inflation, suggesting that central banks should be patient in seeking to meet their targets and avoid providing too much stimulus, according to the BIS.

Globalization is the most likely explanation for surprisingly low rates of inflation, suggesting that central banks should be patient in seeking to meet their targets and avoid providing too much stimulus, a senior official at the Bank for International Settlements said Friday. Den Rest des Beitrags lesen »

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The Future of the Global Economy

Posted by hkarner - 12. September 2017

September 10, 2017

– Benjamin Disraeli, prime minister of England, novelist

In any bureaucracy, the people devoted to the benefit of the bureaucracy itself always get in control, and those dedicated to the goals the bureaucracy is supposed to accomplish have less and less influence, and sometimes are eliminated entirely…. In any bureaucratic organization there will be two kinds of people: those who work to further the actual goals of the organization, and those who work for the organization itself. Examples in education would be teachers who work and sacrifice to teach children, vs. union representatives who work to protect any teacher including the most incompetent. The Iron Law states that in all cases, the second type of person will always gain control of the organization, and will always write the rules under which the organization functions. [Pournelle’s law of Bureaucracy]

– Jerry Pournelle, prolific science-fiction writer, August 7, 1933 – September 8, 2017 Den Rest des Beitrags lesen »

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Financial Globalization 2.0

Posted by hkarner - 6. September 2017

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Why Globalization Stalled, And How to Restart It

Posted by hkarner - 1. September 2017

Date: 31-08-2017
Source: Foreign Affairs by Fred Hu and Michael Spence

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, orporations, and, to a lesser extent, people to flow freely across borders; and encouraged the rapid spread of data and  echnology. 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 »

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The Guardian of the Liberal World Order

Posted by hkarner - 20. August 2017

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