Bloomberg Markets (November Issue)
The BRICs have been racing ahead, but not all new records are enviable. With over 50 million diabetics, India is now home to more diabetics than any other nation. Over 1 million Indians are expected to die of the disease in 2010, and things are expected to get worse. “As a decade of 7 percent average annual growth lifts 400 million people into the middle class, bodies primed over generations for poverty, malnutrition and manual labor are leaving Indians ill-prepared for calorie-loaded food or the cars, TVs and computers that sap physical activity.”
BBC (November 15)
Unilever unveiled its Sustainable Living Plan. With this business model, the company aims to double sales in 10 years while cutting the environmental impact of its products in half. The company will produce an annual report to document progress on these and other sustainability goals. Unilever’s Chief Executive Paul Polman said a sustainable model is “the only way to do business long term.” Rather than viewing sustainability as conflicting with business growth, he notes “there is a compelling case for sustainable growth—retailers and consumers demand it and it saves us money.” On top of that, “there is no way of arriving at a sustainable world that does not involve businesses making money.” The BBC notes that while many leading multinationals are reducing their environmental impact few “have made such concrete commitments on environmental policy as Unilever.”
Unilever unveiled its Sustainable Living Plan. With this business model, the company aims to double sales in 10 years while cutting the environmental impact of its products in half. The company will produce an annual report to document progress on these and other sustainability goals. Unilever’s Chief Executive Paul Polman said a sustainable model is “the only way to do business long term.” Rather than viewing sustainability as conflicting with business growth, he notes “there is a compelling case for sustainable growth—retailers and consumers demand it and it saves us money.” On top of that, “there is no way of arrive at a sustainable world that does not involve businesses making money.” The BBC notes that while many leading multinationals are reducing their environmental impact few “have made such concrete commitments on environmental policy as Unilever.”
Tags: Annual report, Environment, Sustainability, Unilever
Washington Post (November 15)
Columnist Robert J. Samuelson summarizes current thought on Japan. “It’s hard to remember now that in the 1980s Japan had the world’s most–admired economy….Nowadays, all we hear are warnings not to repeat Japan’s mistakes.” Samuelson, however, draws a different lesson from Japan. Many preach the importance (or sometimes danger) of government stimulus. Others point to the dangers of deflation. The key lesson Samuelson draws from Japan is the importance of job creation. “There is no substitute for vigorous private-sector job creation and investment, and that’s been missing in Japan.”
Columnist Robert J. Samuelson summarizes current thought on Japan. “It’s hard to remember now that in the 1980s Japan had the world’s most–admired economy….Nowadays, all we hear are warnings not to repeat Japan’s mistakes.” Samuelson, however, draws a different lesson from Japan. Many preach the importance (or sometimes danger) of government stimulus. Others point to the dangers of deflation. The key lesson Samuelson draws from Japan is the importance of job creation. “There is no substitute for vigorous private-sector job creation and investment, and that’s been missing in Japan.”
Tags: Deficit spending, Deflation, Japan, Job creation, Lost decade, Stimulus
Boston Globe (November 15)
Recent criticism from abroad of the Federal Reserve’s monetary stimulus program is “way off base.” The “complainers’ chorus” is led by China, Germany and Brazil. The Globe singles out China for “calling the kettle black” by accusing the Fed of currency manipulation. The U.S. should be “unapologetic” about the Fed’s plan to stimulate the US economy. As President Obama pointed out at the G-20 summit a strong U.S. recovery will benefit countries around the globe.
Tags: Currency manipulation, Fed, Quantitative easing, Stimulus, U.S.
Wall Street Journal (November 11)
The Journal salutes British Prime Minister David Cameron for speaking “openly and forcefully on behalf of political freedoms and human rights.” Mr. Cameron lavished praise on China for its economic progress during a speech at Beijing University attended by Prime Minister Wen Jiabao. The praise, however, was balanced with a critique of the political system and the need for a political opening up that grants citizens greater freedom.
Tags: Cameron, China, Economic progress, Freedom
Economist (November 11)
China’s global shopping spree is creating backlash as nations rush to embrace protectionist measures. The Economist believes the Chinese purchases should be welcomed, rather than shunned “for the spread of Chinese capital should bring benefits to its recipients, and the world as a whole.”
Tags: China, Protectionism
New York Times (November 9)
During his trip to Seoul for the G20 meeting, President Obama is likely to face criticism of the Federal Reserve’s $600 billion quantitative easing plan. China, for example, hopes to divert attention from its own long-term currency manipulation. The criticism of the Fed is largely unwarranted. “The Fed’s policy also weakens the dollar, but its objective is to boost demand at home.” In fact, China needs “to shift course, allow its currency to rise against the dollar and rely more on consumption at home.”
Tags: China, Currency manipulation, Fed, Quantitative easing, U.S.
Times of India (November 9)
Barack and Michelle Obama made a positive impression in India with their “air of informality” when interacting with the public and the press. The Times of India laments that Indian politicians are too often bound by formality and protocol, adding ““Our politicians would do well to take a cue from the Obamas.” President Obama also made an impression during his 45-minute address to parliament. Obama’s speech was interrupted more than 36 times by applause. The Times notes the speech hit “all the right notes.”
Tags: India, Obama, Politicians
Independent (November 8)
“Most British businesses fail to comply with government guidance on reporting their carbon footprints.” New voluntary reporting standards were released by the Department for the Environment, Food and Rural Affairs (Defra) in 2009. According to a study by Deloitte, 349 of the top 350 listed companies disclose some information on their carbon footprint, but only37% made formal disclosure in a report while less than 10% complied with Defra guidance or provided third-party assurance. As the Defra guidance may become mandatory from 2012, there is still a long way to go.
Tags: Carbon footprint, Defra, UK
Financial Times (November 7)
The growth of the G20 into a useful forum was “one of the few bright spots in the aftermath of the collapse of Lehman Brothers.” The world’s economic challenges remain, but the G20 appears to be stumbling. The Financial Times urges leaders in Seoul preserve this valuable forum. While cooperation through the G20 “cannot solve all the world’s problems, it can prevent a slide into protectionism.”
The growth of the G20 into a useful forum was “one of the few bright spots in the aftermath of the collapse of Lehman Brothers.” The world’s economic challenges remain, but the G20 appears to be stumbling. The G20 is not perfect, yet the Financial Times urges leaders in Seoul preserve this valuable forum. While cooperation through the G20 “cannot solve all the world’s problems, it can prevent a slide into protectionism.”
Tags: Cooperation, G20, Lehman collapse, Protectionism
