View Video presented by TED.COM.
Can the interests of an individual nation be reconciled with humanity’s greater good? Can a patriotic, nationally elected politician really give people in other countries equal consideration? Following his TEDTalk calling for a global ethic, UK Prime Minister Gordon Brown fields questions from TED Curator Chris Anderson
See Video. Rob Hopkins reminds us that the oil our world depends on is steadily running out. He proposes a unique solution to this problem — the Transition response, where small communities can prepare themselves for life without oil and sacrifice luxuries to build systems and communities that are completely independent of fossil fuels.
I recently wrote a 3rd Quarter Update for The ONE1 Asian DM Center which said,
“We go into the 3rd Quarter 2009 with a sense of wonderment and thankfulness. It is indeed wonderful and hopeful to see how the world and its communities, when well informed can work in synergy to counteract the systemic shocks it inevitably generates from time to time… like the financial crisis and the swine flu pandemic that we are in the midst of. Whatever the cynics may say, we are indeed living in a well tuned world!”
As the world becomes one major system…systemic failures with global effects, like what was recently experienced will occur again. Market volatility will continually challenge governments, businesses and individuals. They will have to increasingly build on their internal stability, strength and flexibility to survive and thrive.
Older generation leaders tend to believe that systems should not go wrong….when it does they point fingers, blame..and try to cut out the wounds…aggravating the situation even further.
Insulation and Isolation are hardly a solution except perhaps in the prevention of a pandemic growing into larger proportions. Even in this respect, without open communications, cooperation and collaboration between health authorities around the world, the disease will probably have spread far more extensively.
We are thankful that the new generation leaders seemed to have learned lesson from untidy, disruptive fast pace progress of the 1990s to manage the turbulence of the 2,000s.
Its ironic that while the man on the street actually blames globalization for the current state of mess, world leader’s primarily European leaders are calling for a even stronger world economic governance. They envision the world with a global central bank and a global.
Many believe that this is inevitable….while others think that this is just a European ploy to take control of the USA. The state of the economy in the EU does nlot in any way suggest that states are better off centrally managed. Surprising United Kingdom that has opted out of the European Currency order is now a strong advocate for golabl economic governance under Gordon Brown. Has he been promised the presidency of the new world order under some unholy collusion?
This debate will undoubtedly intensify over our depressed years. What is important is that citizens of the world must begin to educate themselves on this issue…and if democracy does not itself collapse…they should insist on being able to vote on this issue…rather than being ridden roughshod over by the politicians.
Today business leaders have fallen… Private sector political strength have declined. Politician are beginning to rise to the fore, taking the high road, and distancing themselves from being the cause of the problems … advocating solution that will strengthen their own power and priviledge.
Recession or prosperity, money and power grabbing will continue unabated. The question is how ordinary world citizen can protect themselves from being sacrificial pawns.
Watching for Economic Stimulus has become avid activity for many recession watches. Knowing the sectors that may be directly stimulated is of course important to businesses seeking opportunities.
This information is extracted from the 2009 Budget Debate Roundup Speech by Finance Minister THARMAN SHANMUGARATNAM, 5th February 2009.
Singapore has rolled out a SIN$20.5 billion Resilience Package in face of the economic conditions, to help preserve jobs and viable companies to pull through. This according to Lee Yi Shan, Minister of State for Trade and Industry is the largest stimulus package on a per capita basis anywhere in the world.
Click this link to read the full full text of speech which outlines the array of current measures taken by the Singapore Government to prop the economy that has already gone into recession.
More detailed information about Singapore 2009 Budget and her response the crisis may be found in the Roundup Speech by Mr Tharman Shannurgaratham, Minister of Finance, at Budget 2009 Debate, 05 February 2009.
This morning, (16th Nov 2008) New York Times carried a feature, by Louis Uchitelle. It says…
“ The failure of one or more of Detroit’s Big Three automakers would put a huge initial dent in American manufacturing, but in time foreign car companies would pick up the slack by stepping up production in their plants here, many industry experts and economists say.”
It this another signal for major change in the US System?
The Auto Industry has indeed a history of greatness and has been a lynch pin in the history of US Industrial Development. It is an American heritage. However it is one that one longer propel the nation as a global force. And it is, undeniably and inevitably a global world.
In my last post, I mentioned that Americans, having won the cause of democracy and free enterprise, must now share in the evolution of a new global democracy and free enterprise system .
The American car industry may have to go the same way.
Even if Detroit goes, American industries will continue to contribute to the world motor industry, not in the fabrication process, but in the cutting edge of creating technologies and solutions for a more efficient personal mobility.
America has voted, and it is a decisive victory for the Democrats and President Obama.
Every US election is a watershed event for the world as the US President has so much capacity to influence world events and global trends. In the last century American Presidents and their people has championed the cause of capitalism and a free society. By year 2000, there is hardly any tinge of communism left in the world…thereare even few democratic socialist movements left! Liberal and permissive values are the order of the day.
As pioneers and champions of causes, we all know that often we win the war and lose it.
Capitalism, individual Freedom are today Universal and no longer American Values. Where human injustice, tyranny exists, it is usually a an aberration of the free system rather than a remnant of any autocratice, state planning system.
The battle for a free and capitalistic world has been won. It is time to learn how to manage a Global Capitalistic Economy in an universal and not in the American Way.
Hollywood,and the American Media can of course do what it wants…but it is my main hope prayer is that under this new administration, Americans leaders will begin to see themselves as a partner in the free world and not as an advocate and defender of American Style Human Rights and Capitalism.
Under this new arrangement of shared global leadership.. ,being progressive nation is filled enterprise and initiative, she will undoubtedly continue to lead in many issues that affect the world.
It is my hope, and I prayer that America will lead in showing the world
Herald Tribune Blog, 2 Sep 2008, posted a interesting article on “Lesson on the sales of a team” commenting on former Thai Minister’s sale of Manchester City to an AbuDhabi Consortium.
http://blogs.iht.com/tribtalk/business/globalization/?p=797
“Thai billionaire is selling an English team to some Arabs swimming in oil money”
Daniel Altman, the author pointed out that this move has significance not only for Football but for the Global Economy.
Football clubs and football players have become a Global Investment Instrument.
“For some of them, an expensive team is basically a toy, for others, it’s a heavily leveraged investment” says Altman.
From the comments, not many people are too worried about this..
S Lakshma Reddy, commented…
“This will pave the way to global personal merit and talent, pure and simple, and will receive global recognition and compensation. No national bias or prejudices and only global spirit and merit and citizenship.”
Many commented that as long as the owner changed, and the game remained as in this case in England, then it is good for England. Many were concerned that like in the US, teams abandoned one city for another, after the City has spend a great deal of investment in building a stadium and other infrastructure for them.
Whilst not abandoning their cities, increasingly English, Italian and Spanish teams are playing more games outside their country and city.
Would teams in time find it more lucrative to play their games overseas than in their home country? It’s really a question of how much local sponsors are willing to pay, and Fan are willing to fork out to watch their teams, isn’t it?
Many Asian markets are closed this week for the Lunar New Year. Meanwhile the Dow is falling. It is fearful to think about what Asian markets will open with next week. Are we overacting?
My observations do suggest that there is enough money globally to be swished around…and adequate courage to make these moves. The huge investments by sovereign funds in troubled US financial institutions are evidence of this. Despite huge budget deficits, the US senate has voted without blinking an eye, to provide handouts and rebates to the American public… a macro-play we can expect to see more of around the world.
Fear is the only factor that really influences liquidity. With no fear of liquidity, banks can continue to do their business, make loans, support construction, collaterize debts and make lots of money. Life can go and improve and progress.
I am optimistic that we can spend out way out of the situation…avoid a major recession. There are concerns that the current spending spree and economic stimulation will have negative impacts in the longer term….but we cannot worry about that when we feel the impact. These days time just have too many things up its sleeve!
The picture for shareholders, especially those in financial service companies may be different. Asset losses have to be somehow accounted for even if there are sufficient funds to maintain liquidity… Some of these losses may show up as balance sheet items resulting profits taking a hit. Others may show up as off- the-balance sheet items…meaning the investors in funds managed directly or indirectly by the bank take the hit directly, rather than the bank shareholders. Both situations will result in severe loss of confidence as consumers for financial products marketed by banks or as investors in bank shares. Both situations should if one is concerned with fundamentals lead to a lower valuation of bank shares in the market place.
Hopefully this may not be, as governments and politicians all over the world have vested interest in promoting the strength of their financial sectors, and will spare no effort in restoring confidence in these businesses. Confidence counts more than fundamentals in today’s stock markets.
Conclusion? Perhaps we are making too much about a recession being eminent. We, the people and the governments can probably can fearlessly spend our way out of it
May the New Year of the rat prevail and be prosperous,
