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By Daniel Gross, on May 21st, 2013 The air conditioning worked. The cable TV channels were abundant. And that king-size bed!! Screw the skeptics—this is what makes America great, writes a wide-eyed Daniel Gross.
Continue reading Can This Hotel Save America?
By , on May 17th, 2013 <!– google_ad_section_start –> Well-respected Malaysian graft buster, Paul Low Seng Kwan, 67, has his work cut out for him. Low – the president of Transparency International Malaysia (TI), an NGO that monitors political and corporate corruption – was appointed to the cabinet of Prime Minister Najib Razak in a surprise move that was greeted with applause and scepticism. <!– google_ad_section_end –>
Continue reading Graft buster Paul Low joins Najib’s cabinet
By , on May 17th, 2013 <!– google_ad_section_start –> Japan’s premier will on Friday unveil the next stage of his plan to reboot the economy, reports said, as he seeks to capitalise on the feel-good mood of a booming stock market and a plunging yen. Prime Minister Shinzo Abe is set to announce broadbrush outlines of the third of his “three arrows” of a plan dubbed “Abenomics”, which is intended to turn around years of deflation in the world’s third-largest economy. <!– google_ad_section_end –>
Continue reading Japanese PM to announce new growth plans
By , on May 17th, 2013 <!– google_ad_section_start –> President Thein Sein’s historic invitation to the White House is an endorsement of “Myanmar’s Spring” and a further sign that the former pariah’s reforms are irreversible, a senior Myanmar official said. Washington will welcome the former general on Monday in a hugely symbolic reward for sweeping changes since he took power two years ago. He will be the first leader of the former military-ruled nation to visit since 1966. <!– google_ad_section_end –>
Continue reading US visit endorses ‘Myanmar’s Spring’, says Thein Sein aide
By Daniel Gross, on May 16th, 2013 Sucks to be Venezuelan: the country has run out of toilet paper, thanks to price controls straight out of a Woody Allen movie. Daniel Gross on Bolívar’s backward business legacy.
Continue reading The Crappiest Economy?
By , on May 16th, 2013 <!– google_ad_section_start –> BEIJING (AP) — Global economic malaise has knocked the stuffing out of Luo Yan’s business making toy animals. Sales of Hello Kitty dolls and plush rabbits have fallen 30 percent over the past six months, according to Luo, owner of Tongle Toy Enterprise, which employs 100 people in the southern city of Foshan, near Hong Kong. Orders from the United States and debt-crippled Europe are down 80 percent. “We don’t talk about profits anymore,” said Luo. <!– google_ad_section_end –>
Continue reading Slower Chinese growth adds to pressure on leaders
By David Frum, on May 15th, 2013 I'm working on a little less than all cylinders this week, but I don't want to overlook an important piece by Derek Thompson in the Atlantic. Thompson contrasted the decisive and effective government response to the financial crisis of 2008 to the weak and exhausted response to the unemployment problem.
Continue reading DC Decides That Unemployment is so 2009
By , on May 12th, 2013 <!– google_ad_section_start –> Finance ministers from the world’s richest industrialised countries have avoided a public rift with Japan, which has managed to convince its partners that it is not manipulating its currency as part of a bold attempt to lift its economy out of nearly two decades of stagnation. The rapid slide in the yen has sparked fears of a currency war, with countries engaging in competitive devaluations to make their exports cheaper. Last week, the yen fell to more than 100 units against the US dollar for the first time in over four years. <!– google_ad_section_end –>
Continue reading G7 avoids rift over Japanese monetary stimulus and weaker yen
By , on May 11th, 2013 <!– google_ad_section_start –> Hundreds of protesters gathered in the Chinese financial hub of Shanghai on Saturday to oppose plans for a lithium battery factory, highlighting growing social tension over pollution. Police stood by as residents marched peacefully along a busy street in the Songjiang district of the city, gathering at an intersection near the site of a Carrefour hypermarket, chanting and holding signs saying “No factory here, we love Songjiang.” Many wore matching t-shirts with an image of a smoky factory enclosed by the red “no” symbol. <!– google_ad_section_end –>
Continue reading Battery plant protest refects rising anger over pollution
By , on May 10th, 2013 <!– google_ad_section_start –> Afghan President Hamid Karzai, who has irked Washington with his frequent criticism of American military operations in his country, says that his government is now ready to let the US have nine bases across Afghanistan after most foreign troops withdraw in 2014. <!– google_ad_section_end –>
Continue reading Karzai says US can keep 9 military bases in Afghanistan after 2014
By By ANNIE LOWREY, on May 10th, 2013 The anemic economy has left millions struggling to get ahead. Student debt is making it even harder for many of them, as they delay purchases of things like homes and cars.
Continue reading Student Loan Debt Is a Drag on the Economy, Too
By By HIROKO TABUCHI and GRAHAM BOWLEY, on May 10th, 2013 The Bank of Japan’s efforts to reinvigorate the nation’s economy are showing results, at least in the sinking value of the yen.
Continue reading Pro-Inflation Policies Show Signs of Helping the Japanese Economy
By , on May 8th, 2013 <!– google_ad_section_start –> President Xi Jinping’s crackdown on Chinese government extravagance has emptied top-end restaurants and dented the sale of expensive food and drink, putting downward pressure on the world’s second largest economy. High-end caterers in Beijing and other big cities have borne the brunt of Xi’s austerity drive, which he launched in November in an attempt to tackle pervasive corruption and allay criticism of the lifestyles led by some officials. <!– google_ad_section_end –>
Continue reading Sea cucumbers, abalone off the menu in China frugality drive
By , on May 6th, 2013 <!– google_ad_section_start –> After six consecutive years of brutal recession, with homeless and unemployment rates skyrocketing, Greek society is experiencing an “unheard-of fragmentation”, made worse by fierce austerity measures, experts say. Battered by the eurozone’s three-year debt crisis and four years of austerity, Greece has the highest unemployment rate in the 27-nation European Union, with more than one in four people out of work. And this economic crisis has now transformed into a social emergency, according to UN expert on debt and human rights, Cephas Lumina. <!– google_ad_section_end –>
Continue reading Crisis-hit Greece sees rise in social inequality
By , on May 6th, 2013 <!– google_ad_section_start –> South Korea on Monday dismissed an “incomprehensible” list of North Korean demands for reviving suspended operations at a jointly-run industrial park. The Kaesong Industrial Complex, opened north of the border in 2004 as a rare symbol of co-operation, has been shut indefinitely with the withdrawal of all North and South Korean workers amid soaring military tensions. On Sunday, the North’s National Defence Commission led by leader Kim Jong-un said re-starting the complex would require the South to cease all “hostile acts and military provocations”. <!– google_ad_section_end –>
Continue reading South Korea rejects ‘incomprehensible’ North demands
By , on May 3rd, 2013 <!– google_ad_section_start –> Amid heated debate over remarks by National People’s Congress Law Committee chairman Qiao Xiaoyang on criteria for chief executive candidates in 2017, political analysts have speculated that the government is reluctant to consult the people because Beijing had yet to give it instructions on the matter. <!– google_ad_section_end –>
Continue reading Leung Chun-ying says Beijing’s consent to start reform talks not needed
By By STEVEN LEE MYERS, on May 3rd, 2013 Lifting the ban is the latest effort by the Obama administration to reward Myanmar after its president, Thein Sein, began to open the country’s political system and economy in 2011.
Continue reading U.S. Lifts Visa Ban on Officials From Myanmar
By By NORIMITSU ONISHI, on May 2nd, 2013 A technology boom that once created middle-class jobs and lifted the overall economy now fuels a growing gap between the very rich and everyone else.
Continue reading Airport Exposes Class Divisions in Silicon Valley
By By BINYAMIN APPELBAUM, on May 1st, 2013 As expected, the Federal Reserve said on Wednesday that it would continue its stimulus campaign at the pace it has maintained since December.
Continue reading Federal Reserve to Continue Stimulus Efforts
By By ALLISON KOPICKI, on May 1st, 2013 About one-third said the automatic cuts to military and domestic programs would have no effect on the economy one way or the other, according to a New York Times/CBS News poll.
Continue reading Almost Half of Americans Say Budget Cuts Will Hurt Economy
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Graft buster Paul Low joins Najib’s cabinet
<!– google_ad_section_start –> Well-respected Malaysian graft buster, Paul Low Seng Kwan, 67, has his work cut out for him. Low – the president of Transparency International Malaysia (TI), an NGO that monitors political and corporate corruption – was appointed to the cabinet of Prime Minister Najib Razak in a surprise move that was greeted with applause and scepticism. <!– google_ad_section_end –>
Continue reading Graft buster Paul Low joins Najib’s cabinet
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