Wall Street Journal (October 12)
Japan’s dilemma over whether to proceed with the sales tax increase to 10% “mirrors the dynamics in Europe, where France and Italy recently delayed deficit-reduction plans, fearing that spending cuts could tip their fragile economies back into recession.” With much of the developed world facing aging demographics and similar quandaries, all eyes are on Japan. “In a world haunted by stubbornly slow growth and low inflation, Japan’s clinical trial—whether it ends up cure or toxin—will inform other countries when they reach Japan’s state.”
Tags: Deficit reduction, Demographics, Dilemma, Economies, Europe, France, Growth, Inflation, Italy, Japan, Recession, Sales tax, Spending cuts
The Economist (August 30)
“If Germany, France and Italy cannot find a way to refloat Europe’s economy, the euro may yet be doomed.” With inflation “perilously low” at just 0.4%, “the euro zone stands (or wobbles) in stark contrast with America and Britain, whose economies are enjoying sustained growth.”
Wall Street Journal (May 26)
Populist, anti-EU candidates did well in the recent election for European Parliament. Nowhere more so than France where Marine Le Pen’s National Front party swept by both the Socialists and the Gaullists. Compared with “the milder populist advances elsewhere in the European vote, France produced a spectacle of nihilism that damages the West and delights Vladimir Putin.”
Tags: Anti-EU, Candidates, Damage, Election, European Parliament, France, Gaullists, Marine Le Pen, National Front, Nihilism, Populist, Socialists, Vladimir Putin, West
New York Times (May 6)
“French officials should not seek to block G.E. simply because it’s based in Connecticut.” The protectionist arguments being used to thwart the sale of Alstom’s energy business “can only discourage non-European businesses from investing in France, further damaging a sluggish economy that already suffers from a 10.4 percent unemployment rate.”
Tags: Alstom, Economy, Energy business, France, G.E., Investing, Officials, Protectionist, Unemployment
Forbes (February 10, 2014)
“Beijing is becoming more dependent on the U.S. and the rest of the world for its strength and prosperity.” Though it may be the largest holder of U.S. Treasuries, this is not a sign of strength. “The idea that a government gains strength by piling up dollars or other foreign currencies is a mercantilist holdover from the 16th to 18th centuries, when France, Spain and others thought amassing gold and silver was how a country became wealthy. Trade, not hoarding, makes for a powerful economy.”
Tags: Beijing, China, Currencies, Dependent, Dollars, Economy, France, Gold, Government, Hoarding, Mercantilist, Prosperity, Silver, Spain, Strength, Trade, U.S. Treasuries, Wealth
Washington Post (January 24, 2014)
“France’s counterterrorism operations in Africa deserve U.S. support.” Though the U.S. is now largely disengaged from the area, West Africa continues to be a hot bed of al-Quaeda activity. Fortunately, France has moved to fill the vacuum and will likely have 3,000 troops stationed in the region by year end. “For the government of François Hollande, this is a costly and risky initiative, and it deserves strong support from the United States.”
Tags: Africa, Al-Quaeda, Costly, Counterterrorism, Disengagement, France, Initiative, Risky, Support, Troops François Hollande, U.S., Vacuum, West Africa
Bloomberg (December 27, 2013)
Medical implants have cleared another hurdle with a successful surgery to implant “an artificial heart that is expected to last five years.” The new heart was developed by the French startup Carmat. “Europe often leads the U.S. in bringing replacement body parts to the market — not because its researchers have much of an edge but because its health-care regulations are less cumbersome.”
Tags: Artificial heart, Carmat, Europe, France, Health care, Implant, Market, Regulations, Replacement body parts, Researchers, Surgery, U.S.
Wall Street Journal (August 29)
“In 1950 France had five people of working age per retiree. Today it has 1.4, and the ratio is expected to fall to 1.2 by 2050.” France’s newly unveiled pension reform will not “defuse” the pension bomb. “Paying for a growing number of retirees with a pay-as-you-go system that invests little for the future is a losing game. It will ultimately require much smaller pensions or much higher taxes, a fact that French businesses understand well even if the political class won’t admit it.”
Financial Times (May 30)
“In France, when public servants cash in by taking private sector jobs, it is called pantouflage. In Japan, it is amakudari (“descent from heaven”); and, in the US, it is normal.” The revolving door between government and private sector jobs is a perplexing global issue that recently garnered attention in Britain when the head of tax collection became a consultant to Deloitte.
Tags: Amakudari, Britain, Deloitte, France, Government, Japan, Private-sector, Public servants
Financial Times (February 23)
French leaders “should listen when international business leaders say how their French operations must change to be competitive. Ministers should share with multinationals a common interest in achieving that outcome. Otherwise, the workers will not be alone in facing accusations of being unproductive.”
