Thursday, October 30, 2008
Monday, October 27, 2008
Boeing strike: High stakes in outsourcing - Los Angeles Times
Boeing strike: High stakes in outsourcing - Los Angeles Times
Yet the company would argue that building next-generation planes like the 787 requires not only an injection of outside development capital, but also outside expertise.
"Take composites: This is a huge, huge change in the way airplanes are built, moving from aluminum as the dominant technology for the skin of the airplane to composites. Boeing doesn't have the same experience with composites. As it turns out, there is a fair amount of experience over in Japan," said Richard L. Nolan, management professor at the University of Washington and a former Boeing employee.
The move to outsourcing, he said, "is not just an issue of low-cost labor. It's tapping into a global workforce, a global market and building strategies that will allow you to effectively compete."
Yet the company would argue that building next-generation planes like the 787 requires not only an injection of outside development capital, but also outside expertise.
"Take composites: This is a huge, huge change in the way airplanes are built, moving from aluminum as the dominant technology for the skin of the airplane to composites. Boeing doesn't have the same experience with composites. As it turns out, there is a fair amount of experience over in Japan," said Richard L. Nolan, management professor at the University of Washington and a former Boeing employee.
The move to outsourcing, he said, "is not just an issue of low-cost labor. It's tapping into a global workforce, a global market and building strategies that will allow you to effectively compete."
Sunday, October 26, 2008
The fright and the wrong
The fright and the wrong
we are not a small economy. Exports are only 13 per cent of our GDP and while some will suffer due to a global recession, some sectors will benefit hugely from a weaker rupee. There is an enormous domestic demand for goods and services and hundreds of billions worth of infrastructure to build. Yes, capital will be scarce, but why don’t we also factor in the cost reduction because of crashing commodity prices? Because of falling crude prices, the Government could save Rs 100,000 crore this year alone on fuel and fertiliser subsidies; going ahead it could be two and a half times as much. Over the next few weeks, we see Inflation falling drastically, a cut in fuel prices, a drop in interest rates and the release of Pay Commission arrears. Households in India are heading for a much better year compared to the last couple, though of course those invested in stocks would rue the loss of their net worth. You are still looking at an economy on the up, and one that is uniquely positioned to fight back, and take advantage of this global crisis. But, for that, something has to inspire us to hunker down with confident stoicism, and fight back, much like Sundarji’s platoon on that second hill feature.
Saturday, October 25, 2008
Greenspan's blind spot - Los Angeles Times
Greenspan's blind spot - Los Angeles Times
What Greenspan and the rest of the aiders-and-abettors of Wall Street's greed spree don't want to admit is that there's something wrong in the economy and financial system that new regulations on trading and disclosure won't correct. Long before the financial system melted down, American business' share of the social compact melted completely away. The corrosion didn't begin at the top but at the bottom -- with the renunciation of any corporate loyalty toward working men and women. For nearly as long as Greenspan has hovered in the financial stratosphere, U.S. companies have been encouraged to treat their workers like any other "expense." Wall Street has rewarded -- indeed, lionized -- companies "tough enough" to treat workers like the electric bill. Presto! Layoffs became "cost management."
No one begrudges a company about to go out of business the right to cut payroll, but now nobody blinks when a CEO throws people out of work for an uptick in the stock price or to ease the service of ill-considered debt. It's been a long time since anyone who analyzes the economy has been willing to say that it's immoral for a profitable firm to deprive families of their income and health insurance, to strip hardworking men and women of labor's dignity.Perhaps only an economic education prepares a man to draw as his conclusion from catastrophe the gnomic declaration that fallible human beings are not infallible. Some things, however, are true 100% of the time: Societies in which the few are allowed to fatten themselves without limit on the labor of many are not just; they aren't even particularly productive for very long. Countries -- like companies -- that cling to notions that allow some to pursue their own interests by behaving indecently toward others come to bad ends.
What Greenspan and the rest of the aiders-and-abettors of Wall Street's greed spree don't want to admit is that there's something wrong in the economy and financial system that new regulations on trading and disclosure won't correct. Long before the financial system melted down, American business' share of the social compact melted completely away. The corrosion didn't begin at the top but at the bottom -- with the renunciation of any corporate loyalty toward working men and women. For nearly as long as Greenspan has hovered in the financial stratosphere, U.S. companies have been encouraged to treat their workers like any other "expense." Wall Street has rewarded -- indeed, lionized -- companies "tough enough" to treat workers like the electric bill. Presto! Layoffs became "cost management."
No one begrudges a company about to go out of business the right to cut payroll, but now nobody blinks when a CEO throws people out of work for an uptick in the stock price or to ease the service of ill-considered debt. It's been a long time since anyone who analyzes the economy has been willing to say that it's immoral for a profitable firm to deprive families of their income and health insurance, to strip hardworking men and women of labor's dignity.Perhaps only an economic education prepares a man to draw as his conclusion from catastrophe the gnomic declaration that fallible human beings are not infallible. Some things, however, are true 100% of the time: Societies in which the few are allowed to fatten themselves without limit on the labor of many are not just; they aren't even particularly productive for very long. Countries -- like companies -- that cling to notions that allow some to pursue their own interests by behaving indecently toward others come to bad ends.
Wednesday, October 22, 2008
Aus outplayed, out-verballed in Mohali: Oz media
Aus outplayed, out-verballed in Mohali: Oz media
Australia has been seriously outplayed and out-verballed in the match. A colossus which strode the world virtually unchallenged for more than a decade, Australia is now finding that India is treating it in the same way that Australia confronted the West Indies to claim the world crown in 1995.
Australia has been seriously outplayed and out-verballed in the match. A colossus which strode the world virtually unchallenged for more than a decade, Australia is now finding that India is treating it in the same way that Australia confronted the West Indies to claim the world crown in 1995.
Monday, October 20, 2008
Shortcuts - When Job Hunting, Be Your Own Salesman - NYTimes.com
Shortcuts - When Job Hunting, Be Your Own Salesman - NYTimes.com
In that case, he is one step ahead of a lot of people. William Wright-Swadel, executive director of career services at Duke University, said job hunters had to acknowledge first that “networking is not an easy thing. People think there’s a magic wand that will make it simple.”
It is important, especially if you’ve been at it awhile, to step back and see how you are perceived. You don’t want to project a “you wouldn’t want to hire me,” attitude. Or thinly veiled desperation.
In that case, he is one step ahead of a lot of people. William Wright-Swadel, executive director of career services at Duke University, said job hunters had to acknowledge first that “networking is not an easy thing. People think there’s a magic wand that will make it simple.”
The trouble is, networking brings up many of the same emotions as dating — fear of rejection, fear of looking like an idiot, fear of overstepping boundaries, fear of failing.
Rather, think specifically about what your aims are and what information you’re trying to transmit. Learn how to tell your story — what you’ve done, what your strengths are, what you’re looking for — clearly and concisely. Or in the parlance of networking, practice your “elevator speech”: how you can sell yourself in as short a time as an elevator ride.
“Don’t just say, ‘I have very good communications skills,’ ” Mr. Wright-Swadel said. “What does that mean? Say, ‘I listen well, I can create trust relations with a wide variety
“What does that mean? Say, ‘I listen well, I can create trust relations with a wide varietyIt is important, especially if you’ve been at it awhile, to step back and see how you are perceived. You don’t want to project a “you wouldn’t want to hire me,” attitude. Or thinly veiled desperation.
Finally, listen to the messages you are getting. It may be painful to acknowledge, but perhaps you need to reconsider your job expectations, at least in these economic times.
“If someone tells you that you’re overshooting the mark, that’s great information,” Mr. Wright-Swadel said. It does not mean you have to give up your aspirations, but take such comments into consideration. And perhaps revise your networking strategy.
My last piece of advice is trite but true. Be nice, or at least civil to everyone, if possible. Because the one person whose phone calls you ignored in the past may be the very person you are now asking to hire you. And if there is one thing harder than getting a job, it’s explaining to a potential boss why you acted like a jerk.
Saturday, October 18, 2008
BBC NEWS | Europe | Russia fleet 'may leave Ukraine'
BBC NEWS | Europe | Russia fleet 'may leave Ukraine'
Nearly 20 years since the end of the Cold War, Russians feel let down by the West. Gone is the early euphoria. Instead most Russians now feel encircled by the West as a result of Nato's enlargement and are convinced the West wants Russia to be weak.
They also feel misunderstood by the West and argue that we are the true Cold War warriors, not them.
Yes Russia is in many ways its own worst enemy," said Vladimir Pozner, a Soviet propagandist during Communist times who is now one of Russia's sharpest commentators.
"But there are far too many things the West does not get about Russia. Most of all it does not want to understand that if you are a country which has never had democracy in its entire history then you cannot expect it in the space of 15 or 20 years to go 'Bingo - we're now democratic'. It's going to take generations. This country is still run by people who grew up in Soviet times."
Give this country a break. Let the Russians evolve and don't put that much pressure on them because if you do you'll bring out the worst. You'll bring out the super patriots who will say: 'You see, we told you can't trust the West'."
It is a warning echoed less diplomatically by one of Mr Putin's greatest admirers - Nikita Mikhailkov, the most powerful figure in Russia's film industry who is a personal friend of the prime minister.
"You don't like me, Englishman," he told Panorama. "You haven't liked me for centuries, but I respect you. I want to engage with you, but on equal terms. I want you to respect me as I respect you."
"Russia must be respected, not least because it's strong and can answer back. It can say no, you want to talk let's talk. You want to fight, let's fight. But then don't complain."
Friday, October 17, 2008
Op-Ed Contributor - Buy American. I Am. - NYTimes.com
Op-Ed Contributor - Buy American. I Am. - NYTimes.com
A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
Let me be clear on one point: I can’t predict the short-term movements of the stock market. I haven’t the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.
A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.Thursday, October 16, 2008
RIA Novosti - Opinion & analysis - Greece to buy new Russian infantry fighting vehicles
RIA Novosti - Opinion & analysis - Greece to buy new Russian infantry fighting vehicles
Greece subsequently bought the S-300 delivery contract from Russia, while deciding not to purchase Patriot missiles. So, the entire Greek air-defense system, which is part of joint NATO air defenses, now comprises Russian-made weaponry.
The S-300 example shows that Brussels' reluctance to implement military-technical cooperation projects with Moscow under the pretext that Russian weapons are incompatible with NATO standards is absolutely unjustified.
Russia's Strategy: 'What's Looming in Ukraine Is more Threatening than Georgia' - SPIEGEL ONLINE - News - International
Russia's Strategy: 'What's Looming in Ukraine Is more Threatening than Georgia' - SPIEGEL ONLINE - News - International
Nikonov: Yes, Ukraine is an existential issue for us. Our military analysts say if Ukraine joins NATO our last defense against a military emergency would be gone.
Nikonov: Yes, Ukraine is an existential issue for us. Our military analysts say if Ukraine joins NATO our last defense against a military emergency would be gone.
Wednesday, October 15, 2008
Bash-Bushonomics
Bash-Bushonomics
Read Krugman and you get the sense that he will sacrifice almost anything, logic included, to have another go at the George Bush administration. Many, many examples can be given. Let’s take the latest one: the column he wrote a day before he got the Nobel. Krugman praised the British government’s bank bailout strategy — buy equity and therefore infuse funds — and said the Bush administration was hamstrung by its ideology and is only now being forced into taking the same route.Let’s examine this a little closely. The Paulson-Bernanke plan on buying up toxic financial assets was greeted by howls of protest from the right and the left in America. The right protested because it didn’t want any Government support for failed firms. The left protested because it thought government support was a parachute for crooked, greedy bankers. Would a plan that from the beginning spoke of injecting government equity on a mass scale into all big US financial firms have found political acceptance at that time? Plus, it is not as if the Paulson-Bernanke team (Krugman blames Paulson more) was ideologically inflexible on emergency government takeover. What happened to AIG? What happened to Fannie Mae and Freddie Mac? And as for the apparently unwavering brilliance of Britain’s Labour government, it let Northern Rock go under when clearly it should have saved that financial institution.
Read Krugman and you get the sense that he will sacrifice almost anything, logic included, to have another go at the George Bush administration. Many, many examples can be given. Let’s take the latest one: the column he wrote a day before he got the Nobel. Krugman praised the British government’s bank bailout strategy — buy equity and therefore infuse funds — and said the Bush administration was hamstrung by its ideology and is only now being forced into taking the same route.Let’s examine this a little closely. The Paulson-Bernanke plan on buying up toxic financial assets was greeted by howls of protest from the right and the left in America. The right protested because it didn’t want any Government support for failed firms. The left protested because it thought government support was a parachute for crooked, greedy bankers. Would a plan that from the beginning spoke of injecting government equity on a mass scale into all big US financial firms have found political acceptance at that time? Plus, it is not as if the Paulson-Bernanke team (Krugman blames Paulson more) was ideologically inflexible on emergency government takeover. What happened to AIG? What happened to Fannie Mae and Freddie Mac? And as for the apparently unwavering brilliance of Britain’s Labour government, it let Northern Rock go under when clearly it should have saved that financial institution.
The sensible thing to observe here is that in this crisis everyone is stumbling and learning, the Bush administration included. The Germans first said Europe could not have a financial crisis like America, then a week later rescued one of their biggest financial firms, then said a Europe-wide plan to buy equity into banks was a bad idea, and now has come up with a big chunk of money to do precisely that. Does that make the German government a schizophrenic incompetent or just another government trying to understand on the fly how to deal with a biggest financial crisis in 75 years? So why only pick on the Bush administration?
Monday, October 13, 2008
Saturday, October 11, 2008
Vote Republican If You Want Equal Pay - WSJ.com
Vote Republican If You Want Equal Pay - WSJ.com
Democratic candidates Barack Obama and Joseph Biden have proclaimed that they favor equal pay for women, and have alleged that Republicans do not. Sen. Biden has also insisted that Republicans, including vice presidential nominee Sarah Palin, represent a step backwards for women. The economic record says exactly the opposite.
Democratic candidates Barack Obama and Joseph Biden have proclaimed that they favor equal pay for women, and have alleged that Republicans do not. Sen. Biden has also insisted that Republicans, including vice presidential nominee Sarah Palin, represent a step backwards for women. The economic record says exactly the opposite.
One nuclear deal done, more lined up
One nuclear deal done, more lined up:
"Early December is when Russian President Dmitry Medvedev will visit India, and when the Indo-Russian agreement for civil nuclear cooperation will be signed. With intense pressure from the US, Russia and France to effect long-term commercial deals, sources said, India has decided to operationalise all three agreements simultaneously. In fact, France is said to be keen on starting uranium supply immediately and wants India to sign the agreement that would allow Areva to set up European Pressurised Reactors in India.
Looking beyond, India has extended an invitation to Kazakhstan President Nursultan Nazarbayev to be the chief guest at this year’s Republic Day Parade. Kazakhstan has 15 per cent of the world’s uranium reserves and is an important prospective seller for India. Negotiations are also underway with Niger for uranium, shortage of which is currently hampering the Indian programme.
The government also plans to amend the Atomic Energy Act to strengthen the Atomic Energy Regulatory Board as a precursor to allowing private investment. Discussions are underway whether to go in for a one-time amendment that opens doors for private investment or to move one step at a time by first strengthening the regulatory mechanism"
"Early December is when Russian President Dmitry Medvedev will visit India, and when the Indo-Russian agreement for civil nuclear cooperation will be signed. With intense pressure from the US, Russia and France to effect long-term commercial deals, sources said, India has decided to operationalise all three agreements simultaneously. In fact, France is said to be keen on starting uranium supply immediately and wants India to sign the agreement that would allow Areva to set up European Pressurised Reactors in India.
Looking beyond, India has extended an invitation to Kazakhstan President Nursultan Nazarbayev to be the chief guest at this year’s Republic Day Parade. Kazakhstan has 15 per cent of the world’s uranium reserves and is an important prospective seller for India. Negotiations are also underway with Niger for uranium, shortage of which is currently hampering the Indian programme.
The government also plans to amend the Atomic Energy Act to strengthen the Atomic Energy Regulatory Board as a precursor to allowing private investment. Discussions are underway whether to go in for a one-time amendment that opens doors for private investment or to move one step at a time by first strengthening the regulatory mechanism"
Op-Ed Contributor - No, Really, the Fundamentals of the Economy Are Strong - NYTimes.com
Op-Ed Contributor - No, Really, the Fundamentals of the Economy Are Strong - NYTimes.com:
"THE Treasury Department is now thinking about using some of the $700 billion it has been given to rescue Wall Street to buy ownership stakes in American banks. The idea is that banking is so central to the American economy that the government is justified in virtually nationalizing much of the industry in order to save us from a potential depression.
There are two faulty assumptions here. First, saving America’s banks won’t save the economy. And second, the economy doesn’t really need saving. It’s stronger than we think."
"THE Treasury Department is now thinking about using some of the $700 billion it has been given to rescue Wall Street to buy ownership stakes in American banks. The idea is that banking is so central to the American economy that the government is justified in virtually nationalizing much of the industry in order to save us from a potential depression.
There are two faulty assumptions here. First, saving America’s banks won’t save the economy. And second, the economy doesn’t really need saving. It’s stronger than we think."
Nuke deal is signed, sealed, and delivered-USA-World-The Times of India
Nuke deal is signed, sealed, and delivered-USA-World-The Times of India:
"Having assured itself that US President George Bush asserted his executive stamp over legislative opinion in his statement that accompanied the signing of the nuclear bill into law, New Delhi sent its entire negotiating team led by External Affairs Minister Pranab Mukherjee on a 10,000-mile, 12-hour visit to Washington for the 123 Agreement signing ceremony -- a modest affair in the State Department’s glittering Benjamin Franklin room. The team arrived in the afternoon, signed the agreement in the evening, and left for Delhi in the night.
Secretary of State Condoleezza Rice, whose visit to New Delhi last week for the same purpose was rendered fruitless because of India’s anxiety over Bush’s signing statement, politely and pointedly thanked Mukherjee ''who flew all the way here from New Delhi to do this signing,'' before seeing them off without even a meal (the team dined at the their hotel). But for Mukherjee, a diplomatic maestro with nearly three-decades in the business, the objective of asserting India’s stand one last time in Washington was achieved.
''This is an agreement about civil nuclear cooperation and reflects a careful balance of rights and obligations. The agreement has been passed by the U.S. Congress without any amendment. This provision is now legally binding on bot"
"Having assured itself that US President George Bush asserted his executive stamp over legislative opinion in his statement that accompanied the signing of the nuclear bill into law, New Delhi sent its entire negotiating team led by External Affairs Minister Pranab Mukherjee on a 10,000-mile, 12-hour visit to Washington for the 123 Agreement signing ceremony -- a modest affair in the State Department’s glittering Benjamin Franklin room. The team arrived in the afternoon, signed the agreement in the evening, and left for Delhi in the night.
Secretary of State Condoleezza Rice, whose visit to New Delhi last week for the same purpose was rendered fruitless because of India’s anxiety over Bush’s signing statement, politely and pointedly thanked Mukherjee ''who flew all the way here from New Delhi to do this signing,'' before seeing them off without even a meal (the team dined at the their hotel). But for Mukherjee, a diplomatic maestro with nearly three-decades in the business, the objective of asserting India’s stand one last time in Washington was achieved.
''This is an agreement about civil nuclear cooperation and reflects a careful balance of rights and obligations. The agreement has been passed by the U.S. Congress without any amendment. This provision is now legally binding on bot"
Friday, October 10, 2008
India, US sign landmark 123 Agreement-India-The Times of India
India, US sign landmark 123 Agreement-India-The Times of India:
"External Affairs Minister Pranab Mukherjee and US Secretary of State Condoleezza Rice put the final seal on the agreement at an impressive ceremony held in the Benjamin Franklin Room of the State Department, culminating a crisis-ridden process initiated on July 18, 2005 in Washington during Prime Minister Manmohan Singh's visit for talks with US President George W Bush."
"External Affairs Minister Pranab Mukherjee and US Secretary of State Condoleezza Rice put the final seal on the agreement at an impressive ceremony held in the Benjamin Franklin Room of the State Department, culminating a crisis-ridden process initiated on July 18, 2005 in Washington during Prime Minister Manmohan Singh's visit for talks with US President George W Bush."
Thursday, October 09, 2008
Bush keeps his word on nuke deal, assures fuel supply and reprocessing rights-USA-World-The Times of India
Bush keeps his word on nuke deal, assures fuel supply and reprocessing rights-USA-World-The Times of India
U.S President will be remembered for Iraq War, but I think he will be remembered for changing the dynamics of Indo-US Relationship and helping India on to the World Stage.
No matter how much people today dislike him, but when history is written, it won't be as bad.
Like a friend told me under this president we haven't had one terrorist attack after 9/11/2001.
U.S President will be remembered for Iraq War, but I think he will be remembered for changing the dynamics of Indo-US Relationship and helping India on to the World Stage.
No matter how much people today dislike him, but when history is written, it won't be as bad.
Like a friend told me under this president we haven't had one terrorist attack after 9/11/2001.
Wednesday, October 08, 2008
US and us
US and us
India got its nuclear deal from America as America was writing its new New Deal. This was a coincidence but a powerfully symbolic one. The substance behind this symbol is this: it’s in India’s interest that America emerges from the financial crisis without significant damage to its geopolitical influence. Wishing this is of course not the same as assuming it. It is necessary to ask what are the chances the crisis will undermine American power. The answers may not be as gloomy as some people around the world would hope them to be. But first let’s take a look at those people. That will explain why staking our future on a world with a weakened America is a worse bet than anything seen on Wall Street.
India got its nuclear deal from America as America was writing its new New Deal. This was a coincidence but a powerfully symbolic one. The substance behind this symbol is this: it’s in India’s interest that America emerges from the financial crisis without significant damage to its geopolitical influence. Wishing this is of course not the same as assuming it. It is necessary to ask what are the chances the crisis will undermine American power. The answers may not be as gloomy as some people around the world would hope them to be. But first let’s take a look at those people. That will explain why staking our future on a world with a weakened America is a worse bet than anything seen on Wall Street.
So we may see a rough repeat of what happened after the oil shock led the West into stagflation in the 1970s: America is affected by the crisis, but other major players are affected probably even more, and their capacity for remedial action seems less than America’s. In relative terms, America emerged stronger geopolitically after the oil shock. The same may happen this time. Certainly, shifting confidence from the dollar to the euro when euro-nations are bickering in the midst of a crisis seems an odd choice.
So chances are that post-crisis America will emerge with its geopolitical pole position intact.
Ratan Tata announces Nano plant in Gujarat
Ratan Tata announces Nano plant in Gujarat-Business-Broadband - Indiatimes.com
I love it how he says that 'he belongs to the land of Gujarat' in Gujarati.
I love it how he says that 'he belongs to the land of Gujarat' in Gujarati.
Tuesday, October 07, 2008
Monday, October 06, 2008
Friday, October 03, 2008
Op-Ed Columnist - Save the Fat Cats - NYTimes.com
Op-Ed Columnist - Save the Fat Cats - NYTimes.com:
"Then Japanese politicians, acting with the same sublime ineptitude that our own House of Representatives displayed this week, ignored a growing banking crisis and dithered on a bailout. And so I watched from Tokyo as a mighty economy melted like an iceberg in the Caribbean.
Japan’s failure to respond urgently and decisively to its banking mess caused the country to endure a “lost decade” of economic stagnation. If America wants to avoid Japan’s decline, the House should follow the Senate’s lead and approve the bailout — immediately.
Just as in the U.S. today, most Japanese did not initially appreciate how devastating a banking crisis could be to the real economy. Banks and real estate tycoons in Japan were corrupt, profligate and unsympathetic figures, and no one wanted to help them. On corporate expense accounts, they sipped coffee with gold leaf and patronized “no-panties shabu-shabu” restaurants, which had mirrored floors and miniskirted waitresses."
"Then Japanese politicians, acting with the same sublime ineptitude that our own House of Representatives displayed this week, ignored a growing banking crisis and dithered on a bailout. And so I watched from Tokyo as a mighty economy melted like an iceberg in the Caribbean.
Japan’s failure to respond urgently and decisively to its banking mess caused the country to endure a “lost decade” of economic stagnation. If America wants to avoid Japan’s decline, the House should follow the Senate’s lead and approve the bailout — immediately.
Just as in the U.S. today, most Japanese did not initially appreciate how devastating a banking crisis could be to the real economy. Banks and real estate tycoons in Japan were corrupt, profligate and unsympathetic figures, and no one wanted to help them. On corporate expense accounts, they sipped coffee with gold leaf and patronized “no-panties shabu-shabu” restaurants, which had mirrored floors and miniskirted waitresses."
Editorial - Legal Immigration? Anybody? - NYTimes.com
Editorial - Legal Immigration? Anybody? - NYTimes.com:
"Every year Congress authorizes a certain number of permanent-resident visas, or green cards, for immigrants to come to work in the United States or to rejoin their families. And every year bureaucratic delays prevent a certain portion of those visas from being claimed.
It seems unlikely that a visa-recapture bill would make it through this year. But don’t blame Congress’s focus on the economic mess for that. Recapturing visas is a modest fix that should have been made a long time ago. The country needs to build a smoother path to legal entry and citizenship. The blame for its failure to do that lies squarely with the hard-liners who rage against illegal immigrants, but are strangely uninterested in helping people who “play by the rules” and “wait in line.”"
"Every year Congress authorizes a certain number of permanent-resident visas, or green cards, for immigrants to come to work in the United States or to rejoin their families. And every year bureaucratic delays prevent a certain portion of those visas from being claimed.
The result? Every year thousands of potential green cards vanish, like unused cellphone minutes. The huge backlogs in legal immigration, which span years or even decades for applicants from some countries, continue to fester. The myth of Ellis Island becomes more mythical.
Teachers, nurses, engineers, researchers and other aspiring immigrants who follow the rules, file their paperwork, pay their fees and wait — and wait — get the chilly message that they are not wanted. Some of them feel great pressure to go illegally around the immigration system, instead of through it, as their wait to rejoin their loved ones becomes intolerable.
A House bill that could recapture an estimated 550,000 lost visas, sponsored by Representative Zoe Lofgren, a California Democrat, has been moving slowly through the committee process Congress has already authorized these green cards, and many would go to highly skilled workers who have already lived here for years on temporary visas. The bill is as much about keeping workers as gaining them.It seems unlikely that a visa-recapture bill would make it through this year. But don’t blame Congress’s focus on the economic mess for that. Recapturing visas is a modest fix that should have been made a long time ago. The country needs to build a smoother path to legal entry and citizenship. The blame for its failure to do that lies squarely with the hard-liners who rage against illegal immigrants, but are strangely uninterested in helping people who “play by the rules” and “wait in line.”"
Thursday, October 02, 2008
Rise of the Rest: The Challenges of the New World Order - SPIEGEL ONLINE - News - International
Rise of the Rest: The Challenges of the New World Order - SPIEGEL ONLINE - News - International
A number of new books published in the United States describe these shifts in the political landscape. The new administration that arrives in Washington in 2009 ought to consider taking a close look at "The Post American World" by Fareed Zakaria, "The Second World" by Parag Khanna, "The Great Experiment" by Strobe Talbott, as well as "Rivals" by Bill Emmott and " The War for Wealth" by Gabor Steingart. Each of these authors accepts the premise of a multipolar world, though their analyses and policy prescriptions are vastly different. Bill Emmott, Fareed Zakaria, and Gabor Steingart imagine continued American or transatlantic leadership, while Parag Khanna sees a burgeoning competition between Europe, China, and the United States to win the favor of states like Russia and India, which he assigns to the "second world." Whatever their differences though, each of the authors takes a clear-eyed look at the realities of the present day -- unlike the neoconservatives who have been largely responsible for steering American foreign policy during the last eight years.
A number of new books published in the United States describe these shifts in the political landscape. The new administration that arrives in Washington in 2009 ought to consider taking a close look at "The Post American World" by Fareed Zakaria, "The Second World" by Parag Khanna, "The Great Experiment" by Strobe Talbott, as well as "Rivals" by Bill Emmott and " The War for Wealth" by Gabor Steingart. Each of these authors accepts the premise of a multipolar world, though their analyses and policy prescriptions are vastly different. Bill Emmott, Fareed Zakaria, and Gabor Steingart imagine continued American or transatlantic leadership, while Parag Khanna sees a burgeoning competition between Europe, China, and the United States to win the favor of states like Russia and India, which he assigns to the "second world." Whatever their differences though, each of the authors takes a clear-eyed look at the realities of the present day -- unlike the neoconservatives who have been largely responsible for steering American foreign policy during the last eight years.
These countries are neither enemies of one another, nor are they friends; they are "frenemies," competitors for the world’s scarce resources. These countries assure their people that they can shape the coming global order and provide for their future welfare, but their respective visions of the future can differ greatly. A potential "clash of futures" looms on the horizon of the multipolar world.
Not all "frenemies" are democracies in the Western sense. The successes of Singapore and China, as well as of the Gulf states, prove that states need not be democratic to guarantee their people a high standard of living. But, that need not be cause for pessimism. Within the new nondemocratic world powers, productive elites are replacing parasitic elites. Where the former get the upper hand, they produce a system more free and just than the one they inherited. Their goal is to develop the economy and correct social inequalities. They know that where there are slums there will be "failing cities" and "failing states."
In the league of extraordinary PMs-India-The Times of India
In the league of extraordinary PMs-India-The Times of India:
"Manmohan Singh understood well the changes in the international trends and the opportunities the post-cold-war world order presented to India. He enabled Indian entrepreneurship to take full advantage of the favourable international trends.
The result was the unprecedented 8% growth rate. His handicap was the political alliance with the Left, still steeped in Stalinist and cold war orthodoxy. This resulted in his reform programme being slowed down.
In the first four years he appears to have opted to keep the government going. However, in the fifth year he faced a choice between sacrificing the opportunity to achieve for India the liberation from technology apartheid and recognition as a legitimate sixth nuclear power, or, a few more months in office without risking a confidence vote. He decided to stake the life of the coalition government.
He succeeded in winning the vote of confidence for his government and timed it well. That timing generated pressures on international community to get India the IAEA safeguards, the NSG waiver and completion of the Indo-US nuclear deal in quick succession.
Manmohan Singh has been reviled by his opponents — that is nothing new in Indian politics. Shastri was called a ‘‘prisoner of indecision’’. Indira Gandhi was called a ‘‘Goongi"
"Manmohan Singh understood well the changes in the international trends and the opportunities the post-cold-war world order presented to India. He enabled Indian entrepreneurship to take full advantage of the favourable international trends.
The result was the unprecedented 8% growth rate. His handicap was the political alliance with the Left, still steeped in Stalinist and cold war orthodoxy. This resulted in his reform programme being slowed down.
In the first four years he appears to have opted to keep the government going. However, in the fifth year he faced a choice between sacrificing the opportunity to achieve for India the liberation from technology apartheid and recognition as a legitimate sixth nuclear power, or, a few more months in office without risking a confidence vote. He decided to stake the life of the coalition government.
He succeeded in winning the vote of confidence for his government and timed it well. That timing generated pressures on international community to get India the IAEA safeguards, the NSG waiver and completion of the Indo-US nuclear deal in quick succession.
Manmohan Singh has been reviled by his opponents — that is nothing new in Indian politics. Shastri was called a ‘‘prisoner of indecision’’. Indira Gandhi was called a ‘‘Goongi"
Nuclear deal to be a win-win for India, US-Intl Business-Business-The Times of India
Nuclear deal to be a win-win for India, US-Intl Business-Business-The Times of India
One of the first reactions to the landmark deal came from the little-known Thorium Power Ltd, a McLean, Virginia-based company which recognizes India’s leadership in the use of thorium in the nuclear fuel cycle and which claims to have engaged various entities in India's private and governmental sectors for many years.
"India is in the forefront of the world in recognizing the distinct advantages of using thorium in the nuclear fuel cycle while Thorium Power is the world leader in developing non-proliferative, low waste thorium nuclear fuels. There is much we can learn from each other and much we can do together," the company said in a statement following the passage of the nuclear legislation. "This agreement allows us to hold advanced discussions with some of the leading entities and we anticipate that these business opportunities will move forward."
Thorium Power Ltd president and CEO Seth Crae reckons that India will become a "significant player" on the international nuclear market "given the nations great number of highly skilled nuclear engineers and scientists, and successful and far reaching multinational corporations." The 123 Agreement, he says, "affords a unique opportunity to combine India's great strengths with innovative American technology to significantly advance the world-wide nuclear renaissance."
One of the first reactions to the landmark deal came from the little-known Thorium Power Ltd, a McLean, Virginia-based company which recognizes India’s leadership in the use of thorium in the nuclear fuel cycle and which claims to have engaged various entities in India's private and governmental sectors for many years.
"India is in the forefront of the world in recognizing the distinct advantages of using thorium in the nuclear fuel cycle while Thorium Power is the world leader in developing non-proliferative, low waste thorium nuclear fuels. There is much we can learn from each other and much we can do together," the company said in a statement following the passage of the nuclear legislation. "This agreement allows us to hold advanced discussions with some of the leading entities and we anticipate that these business opportunities will move forward."
Thorium Power Ltd president and CEO Seth Crae reckons that India will become a "significant player" on the international nuclear market "given the nations great number of highly skilled nuclear engineers and scientists, and successful and far reaching multinational corporations." The 123 Agreement, he says, "affords a unique opportunity to combine India's great strengths with innovative American technology to significantly advance the world-wide nuclear renaissance."
Subscribe to:
Comments (Atom)