Wall Street Journal (May 4)
What accounts for the landslide victory of Stephen Harper’s Conservative Party on Monday? The Journal thinks the success is due to the conservative economic policies that Harper has put in place since 2006. “Canada’s general sales tax fell to 5% from 7%. Mr. Harper has also cut the federal corporate tax rate, which is now 16.5% and is scheduled to fall to 15% in 2012.” To be sure, Canada also benefited from oil and mineral deposits, which helped boost GDP growth beyond that of the U.S. Moreover, Harper has pledged to “balance the budget by fiscal 2014-2015 without raising taxes, which was a clear dividing line in the recent campaign.”
Boston Globe (May 3)
“Thousands of young people took to the streets to cheer the death of Osama bin Laden.” Though unseemly, it’s easy to understand why the revelry was greatest in New York, Washington and Boston. These were “the cities most directly affected by the 9/11 attacks.” Nobody can forget what happened on September 11, when the lives of a nation changed forever. “Bin Laden’s death was, for many, the first event to diminish the sense of horror that arrived in their childhood and followed them ever since.” Unseemly or not, the cheering is understandable.
Tags: Osama bin Laden, September 11, U.S.
Time (May 2)
Urbanization is transforming the global economy and lifting millions out of poverty. A study from the McKinsey Global Institute shows that 20% of the world’s population resides in 600 urban centers, which “account for some 60% of worldwide GDP.” McKinsey believes the mix of urban areas will change dramatically by 2025. Emerging cities, and especially those in China, must be a focus for businesses that want to succeed globally. By 2025, 21 of the 25 top growth cities are forecast to be in the developing world, flanked by Tokyo, New York, London and Los Angeles from the developed world.
Urbanization is transforming the global economy and lifting millions out of poverty. A study from the McKinsey Global Institute shows that 20% of the world’s population resides in 600 urban centers, which “account for some 60% of worldwide GDP.” McKinsey believes the mix of urban areas will change dramatically by 2025. Emerging cities, and especially those in China, must be a focus for businesses that want to succeed globally. By 2025, 21 of the 25 top growth cities are forecast to be in the developing world, flanked by Tokyo, New York, London and Los Angeles from the developed world.
Institutional Investor (April)
Over 1,000 investment professionals were surveyed to select Institutional Investor’s 2011 All-Japan Research Team, the 18th annual. BofA Merrill Lynch Global Research shared the top spot with Nomura. Both firms captured 24 positions on the all star team. UBS (18 positions), Daiwa Securities Group (15 positions) and Citi (13 positions) rounded out the top 5.
Over 1,000 investment professionals were surveyed to select Institutional Investor’s 2011 All-Japan Research Team, the 18th annual. BofA Merrill Lynch Global Research shared the top spot with Nomura. Both firms captured 24 positions on the all star team. UBS (18 positions), Daiwa Securities Group (15 positions) and Citi (13 positions) rounded out the top 5.
Financial Times (April 27)
The UK’s economy remains fragile. GDP rose by 0.5% in Q1 of 2011, but it had fallen by that amount in Q4 of 2010: “Output stands where it did last September.” Cuts associated with the Government’s austerity budget are just beginning to take effect, leading to concerns of a double dip. Will the economy have the momentum to power through these cuts? It could go either way. “The Bank of England should not tighten monetary policy soon.” Moreover, Chancellor George Osborne must be flexible about changing “tack if things go awry” and, for instance, utilizing tax rebates or infrastructure projects to stimulate the economy. The Financial Times believes the odds need to be stacked in the economy’s favor because “China is spluttering, the eurozone remains vulnerable and the banking system is not fixed.”
The UK’s economy remains fragile. GDP rose by 0.5% in Q1 of 2011, but it had fallen by that amount in Q4 of 2010: “Output stands where it did last September.” Cuts associated with the Government’s austerity budget are just beginning to take effect, leading to concerns of a double dip. Will the economy have the momentum to power through these cuts? It could go either way. “The Bank of England should not tighten monetary policy soon.” Moreover, Chancellor George Osborne must be flexible about changing “tack if things go awry” and, for instance, utilizing tax rebates or infrastructure projects to stimulate the economy. The Financial Times believes the odds need to be stacked in the economy’s favor because “China is spluttering, the eurozone remains vulnerable and the banking system is not fixed.”
