Washington Post (December 19, 2013)
“Blue-ribbon panels are often toothless and useless. But the eminences appointed by President Obama to review the out-of-control National Security Agency (NSA) have produced a surprisingly tough report filled with good recommendations.” The report bluntly stated that the NSA had obtained records on every call to or from the U.S., yet these mounds of intrusive data were essentially useless in preventing terrorism.
Bloomberg (December 18, 2013)
‘Many Chinese consumers underestimate the volume of GMOs in their food, and thus, the debate often lags behind actual situation in China’s kitchens and pantries.” The government is divided on GMOs, which are already pervasive in China. There is broad support from the Ministry of Agriculture and opposition from quarantine officials, who recently stopped 180,000 tons of U.S. corn from entering China. This makes “the anti-GMO justification for blocking the U.S. corn shipments so suspect.” The root cause is likely trade tension and politics.
Tags: China, Consumers, Corn, GMO, Government, Ministry of Agriculture, Politics, Quarantine, Suspect, Trade tension, U.S.
Institutional Investor (December 17, 2013)
With the introduction of a new single supervisory mechanism, the European Central Bank (ECB) is positioned to play a integral role. “The coronation of the ECB as banking supervisor will make the central bank an even more powerful institution, along the lines of the Fed, which emerged from the crisis as the dominant U.S. financial regulator.”
Tags: Banking, Central bank, Crisis, ECB, eurozone, Fed, Financial regulator, Supervisory mechanism, U.S.
New York Times (December 17, 2013)
With average incomes nearly tripling “over the past decade, India has reached a tipping point. “The old politics are over. The governing Indian National Congress, the centrist reference point of the nation’s democracy, seems out of touch, and with it the Gandhi dynasty. Passivity is giving way to a ferocious engagement. It is driven by anger over corruption, incompetence, inequality and inertia.” Change seems assured, but little else. “New forces and parties are emerging with unpredictable, perhaps even dangerous, consequences.”
Tags: Corruption, Democracy, Engagement, Gandhi, Income, Incompetence, India, Indian National Congress, Inequality, Inertia, Passivity, Tipping point
Wall Street Journal (December 16, 2013)
“China’s first lunar probe touched down over the weekend and deployed an endearingly named rover, Jade Rabbit. Congratulations are in order for this space success, all the more so because it was a peaceful exploration mission…. Mankind in general should benefit from more such risk-taking.”
Tags: China, Exploration, Jade Rabbit, Lunar probe, Mankind, Mission, Peaceful, Risk-taking, Rover, Space, Success
The Economist (December 14, 2013)
Despite its modest scope, “the first global deal since the World Trade Organisation (WTO) came into existence in 1995” is an achievement. “It includes some useful stuff: by one estimate, cutting customs red tape could raise annual global output by $400 billion, with much of the gain flowing to developing economies.” With fresh approaches, this momentum can be this leveraged to achieve other modest, but noteworthy deals.
Tags: Customs, Deal, Developing economies, Fresh approaches, Global output, Momentum, Red tape, WTO
BBC (December 13, 2013)
The purge and execution of Kim Jong-un’s uncle Chang Song-thaek has provided fodder for speculation, such as whether the dramatic events herald a broader purge. “Such a public display of state brutality is unprecedented, but the ultra-secretive nature of the state means that observers can never really claim to know exactly what happened and when,” let alone forecast what will ensue.
Tags: Brutality, Chang Song-thaek, Execution, Kim Jong Un, North Korea, Observers, Purge, Secretive, State
Washington Post (December 12, 2013)
Manufacturing has bounced back in the U.S. since the Great Recession, rising each year since 2010. “Profits are soaring — in 2012, after-tax profits of manufacturing firms hit a record high of $290 billion. Share values have soared with them. The Standard & Poor’s 500 Industrials Index has risen 59 percent more than the overall 500-stock index since 2009.”
Tags: Great Recession, Industrials, Manufacturing, Profits, S&P 500, Share values, U.S.
New York Times (December 10, 2013)
“Unesco just picked Japanese cuisine as a world cultural heritage, recognition that the Japanese government had lobbied hard for. Toyota, Sony and Nintendo may have once served as symbols of national identity, but they are now eclipsed.”
Tags: Cuisine, Government, Heritage, Japan, Japanese, Lobbied, National identity, Nintendo, Sony, Symbols, Toyota, Unesco
Financial Times (December 10, 2013)
“South Korea was one of the only winners in the summer’s emerging market sell-off, sparked by fears about the outlook for US monetary policy.” In search of a safe haven, foreign buyers poured into South Korea, but now they are pouring out in favor of more promising markets. “Caught between Japan’s fresh Abenomics-fuelled rally and reform-gripped China, South Korea looks in need of a new narrative.”South Korea, Emerging markets, Sell-off, Outlook, U.S., Monetary policy, Safe haven, Foreign buyers, Abenomics, Rally, Reform, China, South Korea
Tags: Abenomics, China, Emerging markets, Foreign buyers, Monetary policy, Outlook, Rally, Reform, Safe haven, Sell-off, South Korea, U.S.
