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Posts Tagged ‘Globalization’

Beijing Is No Champion of Globalization

Posted by hkarner - 24. Januar 2017

Date: 23-01-2017
Source: Foreign Affairs

The Myth of Chinese Leadership

Chinese President Xi Jinping is treading on dangerous ground. In his speech before the World Economic Forum’s annual conclave of political and economic luminaries in Davos, Xi set out to establish himself as the standard-bearer for globalization and China as a beneficiary from globalization in the past and a leader in the future. Many observers have been quick to support China’s claim to a leadership position, not only because China wants the job but also because the United States appears not to. Rhetoric from the incoming U.S. leadership, with its threat of high tariffs and trade wars, has a distinct antiglobalization flavor. Yet whatever path Washington elects moving forward, anointing China as the world’s “champion of globalization” would be a mistake.

Certainly China has already assumed many of the trappings of global leadership. It is the world’s largest trading power, it boasts the largest standing army, and it behaves like a global leader, proposing new international institutions and arrangements such as the Asian Infrastructure Investment Bank and the huge connectivity project One Belt, One Road. China’s military has likewise gone global, establishing its first logistics base in Djibouti; and more such bases will likely follow. There is also talkin China’s foreign policy community of the need for the country to build formal alliances, further cementing its position not simply as an emerging or regional leader but as a global power. And, of course, China has embraced opportunities to showcase its leadership potential by hosting prestigious international gatherings such as the G-20 and the Olympics. Den Rest des Beitrags lesen »

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Davos befindet sich auf der falschen Seite der Geschichte

Posted by hkarner - 20. Januar 2017

Kern und Kurz hätten besser getan, nicht am WEF teilzunehmen. Es wird – in Zeiten der Ungleichheit – immer unappetitlicher! (hfk)

Gastkommentar. Davos muss zurück zu den Wurzeln, die Cocktailparties vor Ort vermeiden, sich auf die Ziele der Politik konzentrieren, um eine 99 prozentige Veränderung herbeizuführen.

Lassen Sie uns doch mal an die Delegierten denken, die diese Woche zum Weltwirtschaftsforum nach Davos reisen. Typischerweise verbindet man damit sofort die Worte ‚Verwirrung‘ und ‚Krise‘. Denn ihre Weltanschauung wird gerade so sehr wie noch nie von wütenden Wählern infrage gestellt – vor dem Hintergrund eines bröckelnden Wirtschaftsmodells und auf Kosten der Globalisierung.

Kritik an Davos ist nichts Neues und langweilt ja auch irgendwie: Nichtsdestotrotz ist das Weltwirtschaftsforum eine Quasselbude, in der nichts entschieden, aber dafür sehr viel Geld ausgegeben wird. Davos ist eine extravagante Streiterei der Eitelkeiten, in der sich diejenigen, die viel haben, mit denen, die noch mehr haben, treffen, um Deals abzuschließen.

Durch den Brexit und wegen der Wahl von Donald Trump zum nächsten US-Präsidenten hat sich die Kritik dieses Jahr noch verschärft. Beide Wahlen wurden – wenn auch vielleicht nur zum Teil – durch die überwältigende Ablehnung des Establishments und seiner Art Geschäfte zu machen, angetrieben. Den Rest des Beitrags lesen »

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Davos Elites See an ‘Abyss’: The Populist Surge Upending the Status Quo

Posted by hkarner - 20. Januar 2017

Date: 20-01-2017
Source: The New York Times

Many investors at the gathering in Davos, Switzerland, have struggled to make sense of recent political upheavals.

DAVOS, Switzerland — For the investors and market-movers at the annual World Economic Forum here, a threat lurks.

At cocktail parties where the Champagne flows, financiers have expressed bewilderment over the rise of populist groups that are feeding a backlash against globalization. In the halls of the Davos Congress Center, where many of the meetings this week are taking place, investors have tried to make sense of the political upheaval.

The world order has been upended. As the United States retreats from the promise of free trade, China is taking up the mantle. The stark shift leaves investors trying to assess the new risk and opportunities in the global economy.

“This is the first time there is absolutely no consensus,” said William F. Browder, a co-founder of Hermitage Capital Management who has been coming to Davos for 21 years. “Everyone is looking into the abyss.”

Fear of the Populist ‘Threat’
The religion of the global elite — free trade and open markets — is under attack, and there has been a lot of hand-wringing over what Christine Lagarde of the International Monetary Fund has declared a “middle-class crisis.” Den Rest des Beitrags lesen »

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What Leaders Must Do Now

Posted by hkarner - 20. Januar 2017

Article imageHans-Paul Bürkner is Chairman of The Boston Consulting Group.
January 18, 2017, BCG Perspectives

Globalization is facing its biggest test. For 40 years, the process of closer integration through the free movement of goods, capital, people, and ideas around the world has recorded many remarkable achievements.

The overall standard of living has never been higher. According to the United Nations, there are more than 200 million fewer hungry people than there were 25 years ago. Also, almost all boys and girls go to school. Meanwhile, life expectancy increased by five years between 2000 and 2015, the fastest increase since the 1960s, according to the World Health Organization.

In other words, the world is flatter—more equal—than it has ever been.

And yet, in the past year, there has been an astonishing backlash, mainly in developed countries. In the United States, the great bulwark of globalization, there is a rising clamor to reverse the trend towards greater integration, signaled by the election of a president who has pledged to unpick free trade agreements and build walls between nations (rather than tear them down). Den Rest des Beitrags lesen »

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To be relevant, economists need to take politics into account

Posted by hkarner - 19. Januar 2017

Date: 13-01-2017
Source: The Economist: Free exchange

The advent of the Trump administration finds the economics profession in crisis

EVERY January more than 10,000 economists meet for the annual conference of the American Economic Association (AEA). This year, the shindig was in balmy Chicago, a stone’s throw from its second-tallest building, the name TRUMP stamped in extra-large letters across its base. Most papers had been written months in advance; few sessions tackled the electoral earthquake in November. Yet there was no mistaking the renewed sense, following its failure to foresee the 2007-08 financial crisis, of an academic field in a crisis of its own. The election was seen as a defeat for liberalisation and globalisation, and hence for an economics profession that had championed them. If economists wish to remain relevant and useful, the modest hand-wringing at this year’s meetings will need to yield to much deeper self-reflection.

Their theories had always shown that globalisation would produce losers as well as winners. But too many economists worried that emphasising these costs might undermine support for liberal policies. A “circle the wagons” approach to criticism of globalisation weakened the case for mitigating policies that might have protected it from a Trumpian backlash. Perhaps the greatest omissions were the questions not asked at all. Most dismal scientists exclude politics from their models altogether. As Joseph Stiglitz, a Nobel laureate, put it on one star-studded AEA panel, economists need to pay attention not just to what is theoretically feasible but also to “what is likely to happen given how the political system works”. Den Rest des Beitrags lesen »

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In Defense of Globalization

Posted by hkarner - 18. Januar 2017

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We Can’t Undo Globalization, But Can Improve It

Posted by hkarner - 12. Januar 2017

Enligthening! No „post truth“ story, but real! (hfk)

Date: 11-01-2017
Source: Harvard Business Review

Global flows of trade and investment add economic value, and dismantling systems that rely on globalization would reduce prosperity. “While the impulse to erect trade barriers is understandable given the pain experienced by workers in a range of industries and communities in recent years, it is not the way to create lasting growth and shared prosperity,” notes a Harvard Business Review article. “During the past decade, the United States was the world’s largest recipient of foreign direct investment, with nearly $2 trillion invested in a range of sectors, companies, and workers across the country.” Still, managers and politicians cannot ignore the costs of trade and globalization, and must support communities with transition. The authors recommend solutions: Job hunters should be willing to relocate. Companies should expand export and trade capability. Globalization is more digital in nature, and firms should explore opportunities. Retraining should be customized for fields and communities, and benefits should be portable across state lines. Expanding globalization’s opportunities, rather than limiting cross-border flows, would be the better approach to boosting prosperity. – YaleGlobal
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The Age of Trump

Posted by hkarner - 11. Januar 2017

Joseph E. StiglitzStiglitz

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America’s Failures of Representation and Prospects for Democracy

Posted by hkarner - 9. Januar 2017

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A Brief History of Immigrants

Posted by hkarner - 3. Januar 2017

Credit to Rob Creemers.



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