Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Nationalism’

The World Needs Europe

Posted by hkarner - 16. Januar 2019

Date: 15-01-2019
Source: Project Syndicate by Jean-Claude Juncker

Jean-Claude Juncker is President of the European Commission.

Having emerged from centuries of bloodshed to become the poster child for integration and collaboration, Europe has a distinct service to offer the rest of the world. With the international order coming apart and populist nationalism on the rise, now is the time for the European Union to show leadership, both at home and abroad.

BRUSSELS – As we usher in a new year, the future direction of the European Union has never been more important, both for Europe and for the rest of the world. In these increasingly tumultuous times, the EU can provide the stability and hope that the world so desperately needs.

For decades, Europe has been the poster child for integration and cooperation in a fractured world. Since the end of World War II, the continent has been living proof that multilateralism works. Europe’s troubled past has given way to a peace spanning seven decades, and to a Union of 500 million citizens living in freedom and prosperity. By any metric, Europe is now the most tolerant, free, and equal place to live anywhere in the world.

But the EU is not a given. Peace is not inevitable, and war is not implausible. The year 2018 marked the centenary of the end of World War I, the lessons of which must still be heeded. The Europeans of 1913 thought that war was impossible, that they were too interlinked to turn on one another. We Europeans have a rich tradition of ignoring premonitions of ruin at our own peril. Den Rest des Beitrags lesen »

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Consequences of Downward Trending Growth

Posted by hkarner - 9. Januar 2019

Date: 08-01-2019
Source: YaleGlobal

Investors worldwide worry about numerous shocks that could disrupt the global economy – war, cyberattacks or natural disasters. After a decade of low interest rates that fueled record levels of debt, governments recognize that economic growth is slowing. Other warning signs: Nationalism and populism flourish and threaten cooperative blocs like the European Union, the US-China trade war extends into 2019, political leaders continue deficit-spending without reforms, rising interest rates add to struggles over debt repayment. These trends contribute to uncertainty. Economist David Dapice urges cooperation, warning that nations will find it impossible to reduce risks or meet global challenges on their own “The upside of these problems, even migration and climate change, is that they are amenable to better policy – which does not make those policies popular or easy,” he concludes. “The political class must find a way to be honest with voters and persuade them that what is necessary is reasonable.” – YaleGlobal

Governments contend with debt and sluggish growth; many worldwide risks – known and unknown – could add complications

Multinational solutions for national problems: US traders worry about a falling stock market, and British citizens increasingly express a desire to reverse Brexit

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The Fourth Founding: The United States and the Liberal Order

Posted by hkarner - 13. Dezember 2018

Date: 12-12-2018
Source: Foreign Affairs By Gideon Rose

The United States began as a radical experiment with grandiose ambitions. Its founders believed in Locke’s idea that free individuals could escape the perils of anarchy by joining together and cooperating for mutual benefit—and they created a country to show it wasn’t just talk. The signers of the Declaration of Independence bound themselves in a common political project, establishing a limited government to secure their rights and advance their interests. That act, noted Secretary of State John Quincy Adams in 1821, “was the first solemn declaration by a nation of the only legitimate foundation of civil government. It was the corner stone of a new fabric, destined to cover the surface of the globe.”

From the start, the United States was understood to be both country and cause, a distinct national community and the standard-bearer of a global political revolution. Destiny would take a long time to play out. Until it did, until the surface of the globe was covered with a fabric of democratic republics, the good new country would have to survive in the bad old international system. “Probably for centuries to come,” Adams guessed. So how should the nation behave during the lengthy transition? Den Rest des Beitrags lesen »

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Across Europe, a Political Landscape Defined by Deep Divisions

Posted by hkarner - 12. Dezember 2018

Date: 11-12-2018
Source: The Wall Street Journal By Marcus Walker

Schisms over economics, culture and geography underlie dramas simmering in the U.K., France, Italy and elsewhere

The U.K. government’s pratfalls over Brexit show one thing still unites London with the continent: the growing difficulty of governing Western European nations in which new schisms have made it hard to find a majority for any way forward.

British Prime Minister Theresa May’s decision to delay a parliamentary vote on her withdrawal deal with the European Union, and avoid a humiliating defeat on Tuesday that could have brought her down, sets up the tensest weeks for Brexit since Britons voted to leave the EU in 2016.

Meanwhile, political dramas are also simmering in France, Italy, Germany and Spain. Issues and plotlines differ by country. Despite much-discussed international trends such as the rise of populism, “European politics is and remains, first and foremost, national politics,” says Cas Mudde, a political scientist at the University of Georgia.

Yet the underlying drivers share some resemblance. Divisions over economics, culture and geography are challenging governments’ longevity or their ability to pursue their agenda. Den Rest des Beitrags lesen »

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The Powerlessness of the Most Powerful

Posted by hkarner - 22. Oktober 2018

Oct 20, 2018 Javier Solana, Project Syndicate

Javier Solana was EU High Representative for Foreign and Security Policy, Secretary-General of NATO, and Foreign Minister of Spain. He is currently President of the ESADE Center for Global Economy and Geopolitics, Distinguished Fellow at the Brookings Institution, and a member of the World Economic Forum’s Global Agenda Council on Europe.

The president of the leading global power has made it clear that he has no interest in getting involved in resolving any of the world’s shared problems, dressing up his foreign policy as one of „principled realism.“ But there is nothing principled or realistic about it.

MADRID – The annual General Debate of the United Nations General Assembly is one of the most notable events on the international diplomatic calendar. As usual, this year’s meeting, during the last week of September, brought together a long list of world leaders, although perhaps the term “world leader” should no longer be used so lightly. The president of the leading global power has made it clear that he has no interest in getting involved in resolving any of the world’s shared problems. Unfortunately, he is not alone.

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The Jungle Grows Back: America and Our Imperiled World

Posted by hkarner - 10. Oktober 2018

Date: 04-10-2018, The Economist
Source: Robert Kagan

We now live in a world:

„Where once people believed that the nation-state was a thing of the past in an increasingly cosmopolitan and interconnected age, we now see nationalism and tribalism reemerging, more than able to hold their own in the brave new world of the Internet.

Meanwhile, a profound and extended crisis of confidence besets the democratic world, even in the birthplace of modern democracy.

Liberal international institutions like the European Union, once considered the vanguard of a postmodern future, are now under assault from without and within.

In America, racial and tribal forces that have always been part of the “subterranean stream” of American history have reemerged to reshape politics and society.

Where thirty years ago the dreams of Enlightenment thinkers going back three centuries seemed to be on the cusp of fulfillment, today a Counter-Enlightenment of surprising potency stirs in Moscow, Budapest, Beijing, Tehran, and Cairo, in parts of Western Europe, and even in the nation that saved liberalism seventy-five years ago. Den Rest des Beitrags lesen »

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Europe’s Critical Election

Posted by hkarner - 26. September 2018

Ana Palacio, a former Spanish foreign minister and former Senior Vice President of the World Bank, is a member of the Spanish Council of State, a visiting lecturer at Georgetown University, and a member of the World Economic Forum’s Global Agenda Council on the United States.

Ahead of the European Parliament election in May 2019, nationalist parties across Europe are unifying behind a message that is clear, forceful, and, for many, compelling. If Europe’s defenders are to win, they will need to offer a vision that is similarly powerful – and not hide behind French President Emmanuel Macron.

MADRID – Discussions about Europe-wide elections are invariably infused with expectations of dramatic change that rarely, if ever, are met. But the upcoming European Parliament election in May 2019 may break the mold, as it could determine the outcome of an ongoing struggle between two visions for Europe’s future: progress toward greater openness and interconnectedness or a reversion to divisive and blinkered nationalism.

Previous European Parliament elections have been preceded by promises that the vote would mean something to the electorate. But, whatever structural and institutional changes have occurred, from increasing the body’s powers to introducing new campaigning procedures, the results have remained lackluster. Den Rest des Beitrags lesen »

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The world has not learned the lessons of the financial crisis

Posted by hkarner - 8. September 2018

Date: 06-09-2018
Source: The Economist

Banks are safer, but too much of what has gone wrong since 2008 could happen again

WHEN historians gaze back at the early 21st century, they will identify two seismic shocks. The first was the terrorist attacks of September 11th 2001, the second the global financial crisis, which boiled over ten years ago this month with the collapse of Lehman Brothers. September 11th led to wars, Lehman’s bankruptcy to an economic and political reckoning. Just as the fighting continues, so the reckoning is far from over.

Lehman failed after losing money on toxic loans and securities linked to America’s property market. Its bankruptcy unleashed chaos. Trade fell in every country on which the World Trade Organisation reports. Credit supplied to the real economy fell, by perhaps $2trn in America alone. To limit their indebtedness, governments resorted to austerity. Having exhausted the scope to cut interest rates, central bankers turned to quantitative easing (creating money to buy bonds).

Just as the causes of the financial crisis were many and varied, so were its consequences. It turbocharged today’s populist surge, raising questions about income inequality, job insecurity and globalisation. But it also changed the financial system. The question is: did it change it enough? Den Rest des Beitrags lesen »

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Nationalism, Immigration, and Economic Success

Posted by hkarner - 19. Juli 2018

Jason Furman

Jason Furman, Professor of the Practice of Economic Policy at the Harvard Kennedy School and Senior Fellow at the Peterson Institute for International Economics, was Chairman of President Barack Obama’s Council of Economic Advisers from 2013-2017.

There can be no question that immigration provides a net economic benefit to advanced economies, particularly those experiencing a retirement boom. But as long as anti-immigrant sentiment dictates the political narrative, growth will suffer, and resurgent populist forces will grow stronger.

CAMBRIDGE – One of the central challenges facing the world’s advanced economies is slowing growth. Over the last decade, growth rates in the advanced economies have averaged 1.2%, down from an average of 3.1% during the previous 25 years.

History shows that slower economic growth can make societies less generous, less tolerant, and less inclusive. So, it stands to reason that the past decade of sluggish growth has contributed to the surge of a damaging form of populist nationalism that is taking hold in a growing number of countries. Den Rest des Beitrags lesen »

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Nationalism Will Go Bankrupt

Posted by hkarner - 21. Juni 2018

Anatole Kaletsky is Chief Economist and Co-Chairman of Gavekal Dragonomics. A former columnist at the Times of London, the International New York Times and the Financial Times, he is the author of Capitalism 4.0, The Birth of a New Economy, which anticipated many of the post-crisis transformations of the global economy. His 1985 book, Costs of Default, became an influential primer for Latin American and Asian governments negotiating debt defaults and restructurings with banks and the IMF.

The opposite of populist nationalism is not globalist elitism; it is economic realism. And in the end, countries such as Britain, the United States, and now Italy will learn the hard way that reality always eventually wins.

ROME – Nationalism versus globalism, not populism versus elitism, appears to be this decade’s defining political conflict. Almost wherever we look – at the United States or Italy or Germany or Britain, not to mention China, Russia, and India – an upsurge of national feeling has become the main driving force of political events.

By contrast, the supposed rebellion of “common people” against elites has not been much in evidence. Billionaires have taken over US politics under President Donald Trump; unelected professors run the “populist” Italian government; and all over the world, taxes have been slashed on the ever-rising incomes of financiers, technologists, and corporate managers. Meanwhile, ordinary workers have resigned themselves to the reality that high-quality housing, education, and even health care are hopelessly beyond their reach. Den Rest des Beitrags lesen »

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