Monday, December 18, 2017

Tag: Globalization

China’s Xi Jinping At Davos, World’s Most Powerful Beggar

Xi Jinping will address the World Economic Forum on Tuesday in Davos, the first time a Chinese leader has done so. Chinese state media tells us he will speak strongly in favor of globalization. That message will be difficult to accept, however, as his country is closing off its market,...

Xi Jinping’s Swiss visit to present positive Chinese message: ambassador

Chinese President Xi Jinping's upcoming Swiss visit will present a confident, open, responsible and positive Chinese voice to the world, Ma Zhaoxu, China's Permanent Representative to the United Nations Office at Geneva (UNOG) and Other International Organizations in Switzerland, wrote in a signed article published on People’s Daily on...

China’s Xi to promote globalization at Davos, not war and poverty

China's President Xi Jinping will promote "inclusive globalization" at this month's World Economic Forum (WEF) in Davos and will warn that populist approaches can lead to "war and poverty", Chinese officials said on Wednesday. This year's forum, from Jan. 17-20, is expected to be dominated by discussion of a surge...

Can Corporate Raider Wilbur Ross Deliver on Trump’s Blue-Collar Promises?

Trump's pick for commerce secretary has a track record of saving American jobs. Whether he can bring many back to the Rust Belt remains to be seen. A decade ago, cheap Chinese cloth was hammering American textile makers. Companies like Burlington Industries and Cone Mills, two big U.S. makers of...

Lagarde Says Globalization Needs to Have a More Inclusive Face

Supporters of globalization need to develop a new way to promote open markets that relies on smaller trade deals and helps people who are feeling left out, International Monetary Fund Managing Director Christine Lagarde said. “I certainly hope there is not a move toward deglobalization,” Lagarde said Friday in an...

As Deadline Looms, WikiLeaks Reveals Corporate Demands from the European Union in the Trade...

Demands by the EU to Lock in Privatization of Public Services in Developing Countries; Financial Services Deregulation; and Antidevelopment Provisions Revealed; Secretive, Antidemocratic Deal Must Not Be Rushed to Conclusion Today, for the first time, WikiLeaks released demands by the EU to lock in a wide list of services sectors...

Posting New Secret Trade Docs, Wikileaks Further Exposes Corporate Plot

Despite its importance both the US Presidential candidates Hillary Clinton and Donald Trump have thus far given no position on the TISA Agreement. Even as it continued to post new batches of emails from Clinton campaign chairman John Podesta, Wikileaks on Friday also published new draft chapters of the Trade...

UN fears third leg of the global financial crisis – with prospect of epic...

The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history. It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal...

The End of the G-20: Has the Group Outlived Its Purpose?

Over Labor Day weekend, the leaders of the G-20 countries gathered in Hangzhou, China, for their annual summit. Their goal this year: save the good name of globalization, which has recently taken a beating. In the wake of Brexit, the U.S. Republican presidential candidacy of Donald Trump, the rise...

US seeking bilateral trade deal with UK to press EU on TTIP

American officials moving swiftly to cement economic relationship with Britain and speed up stalled transatlantic trade deal with Europe. A potentially swift bilateral trade and investment deal with the UK is being suggested by American officials as a way of pressing the European Union to speed up its own stalled...

A Stunning Email About Brexit Vote As Elites Panic And Global Collapse Edges Closer

After the stunning Brexit vote to “Leave” the EU followed by turmoil in world markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, warned the elites are now panicking as global collapse edges closer. But first, the powerful...

Brexit Is Only the Latest Proof of the Insularity and Failure of Western Establishment...

The decision by U.K. voters to leave the EU is such a glaring repudiation of the wisdom and relevance of elite political and media institutions that — for once — their failures have become a prominent part of the storyline. Media reaction to the Brexit vote falls into two general categories: (1) earnest, candid attempts...

Global Wealth 2016: Navigating the New Client Landscape

The growth of global private wealth hit a speed bump in 2015, especially in the developed markets, with all regions other than Japan experiencing a slowdown relative to last year. This development, combined with the ongoing decline of revenue and profit margins—all amid shifting client needs in both traditional...

Exposed: Sweatshop slaves earning just 44p an hour making empowering Beyonce clobber

BEYONCE'S new high street sportswear range for Topshop is made using sweat shop labour earning just £4.30 a day, we can reveal. The revelation heaps more pressure on under-fire fashion tycoon Sir Philip Green, who faces a grilling from MPs about his role in the collapse of BHS. The chain’s demise...

Did China Trade Cost the United States 2.4 Million Jobs?

The question of whether trade with China has inflicted lasting harm on the United States is the subject of some much-celebrated research by three distinguished economists: David Autor, David Dorn, and Gordon Hanson. They argue that import growth from China cost the United States about 2.4 million jobs over a dozen years....

At Conference of Elites, the Distress of Others Is an Investment Opportunity

I’m reasonably certain I was the only attendee arriving to the Milken Institute Global Conference by Los Angeles public bus. The organizers recommended that, with parking at a premium around the Beverly Hilton, people use “limo, Uber, Lyft, or taxi,” in that order. A fifth option was presumably a corporate...

A Slavers’ Coup in Brazil?

Among the many groups pushing for the impeachment of Dilma Roussef, one is seldom discussed: companies that profit from slavery. Among the opponents of Brazil’s embattled president, Dilma Rousseff, who is about to be driven from office, is an interest group thought to have lost political power over a century...

The Untouchables: Why it’s getting harder to stop multinational corporations

Chachengwa had been growing maize and cotton here her whole life. Every year, she took out loans for seeds and fertilizer, and then paid them back with her harvest. Since she lost her husband, she had relied on her two daughters and eight grandchildren to help tend her 75-acre plot.

Next Financial Crisis Could Overwhelm World’s Defenses, IMF Says

The global financial safety net has become increasingly fragmented, making it harder to respond to crises in a world roiled by volatile capital flows, International Monetary Fund staffers warned. Defenses haven’t kept up with the growth of external debt in recent years, the Washington-based fund said in a report released...

Africa’s $700 Billion Problem Waiting to Happen

The Horn of Africa region is central to the world’s maritime trade. It’s also beginning to fall apart. Back in 2002, Meles Zenawi, then prime minister of Ethiopia, drafted a foreign policy and national security white paper for his country. Before finalizing it, he confided to me a “nightmare scenario”...

Too Many Boats for Too Little Cargo Leaves Shippers High and Dry

Shippers of commodities are in the midst of an unprecedented crisis as waning Chinese growth and a surge in supply push earnings to new lows. These charts show how it happened, how commodity shipping is collapsing and how there’s one glimmer of hope for owners to turn things around. 1....

Deutsche Bank Über Alles

While Germans weren’t looking, the quiet steward of German industry became a globalized risk-taking behemoth that might take the country’s economy down with it. Modern Germany was built around iconic firms, and over the past year, quite a few have taken a knock. Siemens is only now starting to recover...

Germany’s Deutsche Bank in crisis

After a record loss of €6.8 billion in the 2015 business year, Deutsche Bank’s shares have plunged in value by 35 percent in the first weeks of 2016, reaching their lowest level since 2008. By comparison, even in the year of the 2008 financial crisis, the bank’s losses amounted...

World faces wave of epic debt defaults, fears central bank veteran

Exclusive: Situation worse than it was in 2007, says chairman of the OECD's review committee. The global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned. "The situation is worse than it was in 2007....

Ultra-Rich Philanthrocapitalist Class Undermining Global Democracy: Report

As foundations and wealthy individuals funnel money into global development, what "solutions" are they pursuing? From Warren Buffett to Bill Gates, it is no secret that the ultra-rich philanthropist class has an over-sized influence in shaping global politics and policies. And a study (pdf) just out from the Global Policy Forum,...
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Global Conflict and the Geopolitics of US-China Relations: Michel Chossudovsky

With reports emerging that China has signed on to Russia’s military coalition in Syria at the same time that the Chinese are signing new cooperation agreements with the US, the question is once again being raised: What is the nature of China-US rivalry? Michel Chossudovsky talks about the forces in...

I didn’t think TTIP could get any scarier, but then I spoke to the...

With just eight words she exposed everything that's wrong with the deal, and why it needs to be defeated. I was recently granted a rare glimpse behind the official façade of the EU when I met with its Trade Commissioner in her Brussels office. I was there to discuss the...
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How the West Re-colonized China

In the last three decades, a remarkable change has transformed the face of the world’s most populous country. The figures are mind-boggling. Since 1980, China's Gross Domestic Product has increased by over 3000%, from $300 billion to over $10 trillion. This boom has been fueled by the remarkable rise...
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Julian Assange on the Trans-Pacific Partnership: Secretive Deal Isn’t About Trade, But Corporate Control

As negotiations continue, WikiLeaks has published leaked chapters of the secret Trans-Pacific Partnership — a global trade deal between the United States and 11 other countries. The TPP would cover 40 percent of the global economy, but details have been concealed from the public. A recently disclosed "Investment Chapter"...

The TPP and TTIP Trade Agreements: “A Dystopian Future in which Corporations Rather Than...

The Obama-proposed international-trade deals, if passed into law, will lead to “a dystopian future in which corporations and not democratically elected governments call the shots,” says Alfred De Zayas, the UN’s Special Rapporteur on Promotion of a Democratic and Equitable International Order. These two mammoth trade-pacts, one (TTIP) for Atlantic...

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