Posted by hkarner - 7. September 2015
Klaus Schwab is Founder and Executive Chairman of the World Economic Forum.
Richard Samans is Head of the Center for the Global Agenda and a member of the managing board of the World Economic Forum.
SEP 7, 2015, Project Syndicate
GENEVA – There is no bigger policy challenge preoccupying leaders around the world than meeting the need to expand participation in the benefits of economic growth and globalization. Indeed, a geographically and ideologically diverse consensus has emerged that a new – or at least much improved – model of economic development will be required if truly greater inclusiveness is to be achieved.
Unfortunately, this political consensus has so far remained aspirational, rather than prescriptive. Policymakers have yet to develop an internationally recognized policy framework – with a corresponding set of indicators and measurable milestones – to guide countries targeting broad-based improvements in living standards, rather than simply continuing to use GDP growth as the bottom-line measure of national economic performance. Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Globalization, Growth, Inclusion, Samans, Schwab, Spence, WEF | Leave a Comment »
Posted by hkarner - 5. September 2015
Source: The Guardian
The stock market declines in China herald a new era with fewer imbalances. The economic slowdown was expected and may signal other countries are developing and restoring capabilities to manufacture. US consumers have eased spending and can no longer be depended on to snap up exports from around the globe. China oversaw a huge economic expansion, lifting many from poverty. The government invested in the country’s future and will continue to post growth rates envied by other nations. Still, double-digit growth could not be sustained, notes an editorial in the Guardian, and the government did not handle the market declines well, going into denial and targeting messengers who delivered bad news. The end is in sight for “a terribly skewed system in which western consumers made up for disappointing wages by borrowing money from Chinese producers, who in turn bought up western bonds, banks and land,” concludes the Guardian, and that is good for both China and the West. – YaleGlobal
A mad system in which the West’s workers make up for poor wages with cheap credit from China is drawing to a close – good riddance Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: china, Globalization, Guardian | Leave a Comment »
Posted by hkarner - 25. Juni 2015
Source: Project Syndicate
Joschka Fischer was German Foreign Minister and Vice Chancellor from 1998-2005, a term marked by Germany’s strong support for NATO’s intervention in Kosovo in 1999, followed by its opposition to the war in Iraq. Fischer entered electoral politics after participating in the anti-establishment protests of the 1960s and 1970s, and played a key role in founding Germany’s Green Party, which he led for almost two decades.
BERLIN – The latest G-7 summit, in the beautiful Alpine setting of Garmisch-Partenkirchen in Germany, has come and gone. No longer the G-8, owing to Russia’s suspension, the forum is again composed exclusively of traditional Western powers. At a time when the emergence of large, densely populated economic powerhouses like Brazil, China, India, and Indonesia is challenging Western dominance, many believe that the current international system is due for an overhaul.
In fact, a new world order is almost certain to emerge – and very soon. The shape it takes will be determined by two key phenomena: globalization and digitization. Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: china, Fischer, G7, Globalization, Project Syndicate, USA | Leave a Comment »
Posted by hkarner - 10. Mai 2015
Source: Reuters by James Saft
Much of the world is trying to put a pause on global trade, immigration and other means of integration and globalization. The global credit crisis triggered the trends: “De-globalization is the partial unwinding of the long-running shift to arrangements that allow capital, goods and services to move more freely around the world,” writes James Saft. He describes evidence of resistance to globalization: Proposals in the British electoral campaign to withdraw from the European Union, tighter bank regulations and threats from bankers to relocate from traditional banking centers, and opposition to the Trans-Pacific Partnership trade agreement over fears about a loss of jobs. Global trade is slowing. The hope among some analysts, Saft notes, is that slowing globalization could reduce inequality: “If globalization led to stronger growth but less-equal distribution of the proceeds, then de-globalization may well produce the reverse.” He concludes that the trends aiming to reduce inequality could reduce asset prices and profit margins, increase barriers to entry and improve benefits of diversification. Investors must adjust to a new landscape. – YaleGlobal
Investors must adjust to trends of slowing globalization and demands to reduce inequality: slowing global trade, more regulations, lower profit margins.
The world is becoming a bigger, not a smaller place, a process financial markets and investors may not enjoy. Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Globalization, Investment, Reuters, Saft | Leave a Comment »
Posted by hkarner - 30. April 2015
The world economy’s operating system is being rewritten. In this exclusive excerpt from the new book No Ordinary Disruption, its authors explain the trends reshaping the world and why leaders must adjust to a new reality.
In the Industrial Revolution of the late 18th and early 19th centuries, one new force changed everything. Today our world is undergoing an even more dramatic transition due to the confluence of four fundamental disruptive forces—any of which would rank among the greatest changes the global economy has ever seen. Compared with the Industrial Revolution, we estimate that this change is happening ten times faster and at 300 times the scale, or roughly 3,000 times the impact. Although we all know that these disruptions are happening, most of us fail to comprehend their full magnitude and the second- and third-order effects that will result. Much as waves can amplify one another, these trends are gaining strength, magnitude, and influence as they interact with, coincide with, and feed upon one another. Together, these four fundamental disruptive trends are producing monumental change. Den Rest des Beitrags lesen »
Posted in Artikel, Books | Getaggt mit: Dobbs, Globalization, Manyika, McKinsey, Woetzel | Leave a Comment »
Posted by hkarner - 8. Februar 2015
Michael Huberman, Christopher M. Meissner, Kim Oosterlinck 06 February 2015, voxeu
Understanding the relationship between trade and growth is still at the core of the economics profession. This column seeks to identify the pathways by which globalisation affects economic growth looking at the case of Belgium in the decades preceding the First World War. It argues that the collapse in fixed export costs promoted the entry of uncompetitive firms into export markets and as the trade component of GDP rose, the share of high performing firms contracted, slowing growth.
Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Globalization, Growth, Hubermann, Meissner, Oosterlinck, voxeu | Leave a Comment »
Posted by hkarner - 2. Februar 2015
Source: Project Syndicate
KOFI A. ANNAN
Kofi A. Annan, a former secretary-general of the United Nations, is the founding chair of the Kofi Annan Foundation and also chairs The Elders and the Africa Progress Panel. In 2001, he and the United Nations were jointly awarded the Nobel Prize for Peace.
GENEVA – As 2015 begins, the values enshrined in the Charter of the United Nations and the Universal Declaration of Human Rights are under threat. Around the world, personal liberty, human rights, and democracy are at risk – even in countries that have embraced democratic ideals. The international community is deeply divided, blocking progress on a host of global challenges, ranging from the crises in Syria, Iraq, and Ukraine to climate change and international trade.
Three factors – all likely to persist this year – are driving these unsettling trends.
First, globalization may have delivered many benefits, but it has also eroded the capacity of societies to determine their own destinies. Many modern challenges – including tax avoidance, organized crime, cyber insecurity, terrorism, climate change, international migration, and financial flows, both licit and illicit – have one thing in common: the traditional instruments of a sovereign state have become inadequate to manage them.
Second, failed military solutions in Afghanistan and Iraq have played a large role in undermining the international community’s unity, and eroding confidence in intervention in general, even as established powers cut budgets and emerging powers shy away from taking on new responsibilities. In 2014, leaders in my native Africa and elsewhere challenged the objectivity and effectiveness of the International Criminal Court, the creation of which was a major milestone in the struggle to end impunity for national leaders. Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Annan, Globalization, Project Syndicate | Leave a Comment »
Posted by hkarner - 21. Januar 2015
Source: The Wall Street Journal
As Davos Begins, a Look at Developments Over the Past Year That Risk Further Erosion of Our Internationalized, Interconnected World Economy
The perils of forecasting: 12 months ago, as World Economic Forum delegates gathered in Davos, nobody predicted Russia would, within months, annex part of a neighboring state, and anyone anticipating a halving of oil prices would have been guided to a darkened room and told to lie down.
But other developments were more foreseeable: Low growth and low inflation in the eurozone were to hold back Europe’s ability to emerge from its debt crisis and reduce high unemployment. Partly as a result, the political mainstream in many European countries weakened, and nationalist parties grew in strength. Governments elsewhere struggled to cope with the powerful currents buffeting their nations.
In one way or another, most of these developments—foreseen or not—now risk further erosion of the fabric of our internationalized, interconnected world economy.
“Globalization has helped raise hundreds of millions out of poverty,” says Robin Niblett, director of the Chatham House think tank in London. But, he says, it’s moving faster than people and states can adapt to, politically, socially and institutionally. As a result, “levels of trust between governments and citizens are fraying at an alarming rate.” Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Globalization, Growth, WEF, WSJ | Leave a Comment »
Posted by hkarner - 3. Dezember 2014
Olivier Blanchard, Luc Laeven, Esteban R Vesperoni 03 December 2014, voxeu
Events of the last five years have forcefully reminded the global community of the risks present in the global economy and the interconnections among nations. Intense discussions have arisen on the optimal way to combine fiscal, monetary, and financial policies to deal with spillovers across nations, and on the scope for coordination of such policies. In this context, the theme chosen for the IMF’s 15th Jacques Polak Annual Research Conference was “Cross-Border Spillovers”.1 This column discusses the conference highlights. Den Rest des Beitrags lesen »
Posted in Artikel | Getaggt mit: Blanchard, Globalization, IMF, Risk, Spillover, voxeu | Leave a Comment »
Posted by hkarner - 28. November 2014
Source: Project Syndicate
Ian Goldin, Director of the Oxford Martin School, Professor of Globalization and Development at the University of Oxford, and Vice-Chair of the Oxford Martin Commission for Future Generations, is the co-author of The Butterfly Defect: How Globalization Creates Systemic Risks, and What to Do about It.
OXFORD – The last few decades of globalization and innovation have resulted in the most rapid progress that the world has ever known. Poverty has been reduced. Life expectancy has increased. Wealth has been created at a scale that our ancestors could not have imagined. But the news is not all good. In fact, the achievements brought about by globalization are now under threat.
The world has simultaneously benefited from globalization and failed to manage the inherent complications resulting from the increased integration of our societies, our economies, and the infrastructure of modern life. As a result, we have become dangerously exposed to systemic risks that transcend borders.
These threats spill across national boundaries and cross the traditional divides between industries and organizations. An integrated financial system propagates economic crises. International air travel spreads pandemics. Interconnected computers provide rich hunting grounds for cybercriminals. Middle Eastern jihadis use the Internet to recruit young Europeans. Living standards rise – and greenhouse-gas emissions follow, accelerating climate change. Den Rest des Beitrags lesen »
Posted in weitere Artikel | Getaggt mit: Globalization, Goldin, Project Syndicate, Risk | Leave a Comment »