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The Economist (October 28)

2010/ 10/ 29 by jd in Global News

“Tokyo’s governor is starting to look like yesterday’s sushi” proclaims the Economist. Tokyo voters may once have enjoyed the antics of Shintaro Ishihara, but his penchant for confrontation is wearing thin. Ishihara is now fighting fish mongers to relocate Tsukiji fish market to a polluted site where benzene levels exceed the safety threshold by up to 43,000 times. Ishihara’s latest fight suggests 11 years of power may have “gone to his head.”

 

Institutional Investor (October)

2010/ 10/ 28 by jd in Global News

U.S. companies are playing it safe and wasting “growth opportunities in an innovation-hungry international marketplace.” They should be investing in new technologies and growth. The impact will be felt across the economy. “Risk aversion is squandering what could be the last great opportunity for a U.S. innovation revolution – an era that could build shareholder value and insulate us from future financial crises.”

 

BBC (October 27)

2010/ 10/ 27 by jd in Global News

The French National Assembly will vote on President Nicolas Sarkozy’s proposal to raise the retirement age from 60 to 62. Most French agree pension reform is essential, yet the measure is explosive. Massive strikes crippled the country and Sarkozy’s approval ratings fell below 30%. The strikes and protests appear to be abating, with employees back to work at 5 of 12 oil refineries. However, a BBC correspondent reports, “the last skirmishes of this battle will still be dangerous both to the government and the economy.”

The French National Assembly will vote on President Nicolas Sarkozy’s proposal to raise the retirement age from 60 to 62. Most French agree pension reform is essential, yet the measure is explosive. Massive strikes crippled the country and Sarkozy’s approval ratings fell below 30%. The strikes and protests appear to be abating, with employees back to work at 5 of 12 oil refineries. However, a BBC correspondent reports, “the last skirmishes of this battle will still be dangerous both to the government and the economy.”

 

New York Times (October 26)

2010/ 10/ 26 by jd in Global News

The U.S. ranks 48th globally in math and science instruction. Of 29 wealthy countries, the U.S. finishes 27th per capita in undergraduate engineering and science degrees. Foreign graduate students in these subjects are increasingly returning to their home countries. A third of U.S. manufacturers had difficulty “finding enough skilled workers” in 2009. Unless funding for science is increased, the U.S. will “continue to lose economic ground to foreign competitors.”

 

Boston Globe (October 25)

2010/ 10/ 25 by jd in Global News

Better training is helping more runners qualify for the Boston Marathon, but the limited number of spots is leaving some of them disappointed. The criteria for the nation’s oldest marathon are strict, yet the 26,800 spots were snapped up in less than a day. The Boston Globe believes several thousand spots could safely be added. “In the future, the Boston Athletic Association should adjust by modestly expanding the field, and resist the temptation to toughen its already strict qualifying standards.”

 

Financial Times (October 20)

2010/ 10/ 21 by jd in Global News

A UN report has put “a price on the priceless,” valuing global environmental damage at $2-4.5 trillion each year. Though the estimate is wide, it is still useful. The estimate drives home the extent of the damage we inflict on the natural world. “Pricing the toll of human activity also allows us to prioritize our actions more rationally.”

 

Wall Street Journal (October 19)

2010/ 10/ 20 by jd in Global News

“Like OPEC in the 1970s, Beijing seems willing to put the developed world over a barrel.” China has become the world’s final assembler, and aspires to more. By placing a stranglehold on the export of rare earths, Beijing thinks it can force technology transfer. If essential rare earths are difficult to attain overseas, companies will have to move high-end processes to China. The Wall Street Journal believes this gambit is unacceptable. China’s accession to the WTO in 2000 specifically forbids quotas on all products and export taxes on rare earths.

 

Washington Post (October 18)

2010/ 10/ 19 by jd in Global News

Newsweek editor Fareed Zakaria writes that the U.S., China and South Korea need to think hard about “the collapse of North Korea.” The extensive measures Kim Jong Il is taking to shore up his son as successor suggest instability. In addition to a bad economy, food shortages and famine, North Koreans are “beginning to learn more and more about the outside world.” With South Koreans earning $28,100 versus each North Korean’s $1,900, it is only a matter of time before “North Koreans are going to start moving south, to jobs, money, opportunity and freedom.” Unless plans are made now, there will be chaos with potential for “serious geopolitical instability.”

 

The New York Times (October 16)

2010/ 10/ 18 by jd in Global News

Fearing deflation, the Federal Reserve appears poised to adopt quantitative easing measures. The Fed is widely expected to print new money and buy Treasury bonds, hence increasing the money supply. The Fed can’t, however, succeed alone. The New York Times calls on President Obama and Congress to adopt new stimulus measures to kick start the economy. “To put millions of Americans back to work, a lot more needs to be done. Mr. Bernanke can’t do it alone.”

 

The Guardian (October 14)

2010/ 10/ 18 by jd in Global News

The British Government announced a plan to eliminate, merge or downgrade many of the existing quasi-autonomous non-governmental organizations (quangos). Under the plan, 192 quangos would be abolished, 118 merged and 171 reformed. In total, the 901 existing quangos would be reduced to 648. The plan aims to move responsibility for decision-making back to elected policy makers, but the Guardian points out “scrapping key agencies in health, justice and consumer rights has raised alarm.”

 

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