The Times (January 11)
The Times pays tribute to great translations, noting good translations aren’t noticed. Great English translations read as if the original was “written in English in the first place.” Bad translations, on the other hand, “scream” their presence. This creates a paradox: the work of successful translators most often passes unnoticed.
Financial Times (January 7)
To help Japan avoid another lost 0decade, the Financial Times offers advice to finance minister Naoto Kan. “Kansian economics” should stimulate domestic demand, encourage the Bank of Japan to ease the money supply, and champion stronger corporate governance. As an example of strong corporate governance, the newspaper holds up German corporations. Japanese corporations are “irrationally frugal,” with dividends to shareholders 75% lower (in relative terms) than those paid out by German corporations.
Wall Street Journal (January 5)
The 828-meter Burj Dubai tower officially opened. The Wall Street Journal calls the $4.1 billion skyscraper “a modern-day Tower of Babel.” Built on a foundation of sand, the Burj Dubai is mostly empty, unwanted and unneeded. Other towers, scattered from New York to Malaysia, have also been born of vanity. The Burj tops them all and even boasts the world’s heaviest gold ring, which weighs over 60 kg. For the moment, Dubai has clearly won the “quest for excess.”
New York Times (January 3)
President Obama must avoid “a Japanese decade.” Two mistakes must be avoided: balancing the budget too soon and failing to fix the banks. Until the recovery firmly takes root, the government should not cut back on spending. The U.S. should, however, immediately pass banking reforms that ensure banks are well capitalized and not allowed to take excessive risks.