|Joined||04 Feb '06 18:48|
|First Post||04 Feb '06 20:22|
|Last Post||27 May '15 11:07|
Last 10 posts
27 May '15 11:07Middle Eastern Political Economy
From today's news.
US-China war 'inevitable' unless Washington drops demands over South China Sea
26 May '15 19:47Middle Eastern Political Economy
China may be bringing Israel's settlements on Palestinian land into the dispute.
China to extend military reach, build lighthouses in disputed waters
China outlined a strategy to boost its naval reach on Tuesday and held a groundbreaking ceremony for two lighthouses in disputed waters, developments likely to escalate tensions in a region already jittery about Beijing's maritime ambitions
White House spokesman Josh Earnest said President Barack Obama considered the security situation in the South China Sea "critically important" to U.S. national security and the global economy and said Washington was committed to working with other Asia-Pacific states to protect the free flow of commerce there.
China has overlapping claims with the Philippines, Vietnam, Malaysia, Taiwan and Brunei in the South China Sea, through which $5 trillion in ship-borne trade passes every year.
Chinese Defence Ministry spokesman Yang Yujun said China's reclamation in the Spratlys was comparable with construction of homes and roads on the mainland.
Beijing's maritime ambitions? Joint naval exercises in the Mediterranean confirm the desire of China and Russia to be perceived as global naval powers.
25 May '15 17:03Financial Markets, Subprime, & The Credit Crunch
In addition to being responsible for flawed financial regulation globally, the BofE is in trouble nationally.
It is reported in the FT that a leading barrister thinks the inquiry into the foreign exchange rigging scandal was a whitewash in exonerating the Bank. Apparently the US Department of Justice has its own worries about the BoE review.
Separately, the BoE faces an unprecedented criminal inquiry by the Serious Fraud Office over the possible manipulation of its money market auctions that were designed to inject money into credit markets as the financial crisis took hold.
See Europe forum, 23 May '15 17:21.
25 May '15 14:04Financial Markets, Subprime, & The Credit Crunch
The constitutional safeguards on public finance in the UK are totally ineffective, cynic 09? Certainly seems so. Billions at risk.
Little wonder the Bank of England feels free to corrupt financial stability elsewhere - eg in the global economy [chairing the G20's Financial Stability Board] .
25 May '15 11:19Financial Markets, Subprime, & The Credit Crunch
If a government sees its job as protecting patrons, while keeping electors quieted about the cost of this, the policy can't continue much longer.
We've had independent regulators' concerns about banks being dismissed in the UK, only to result later in huge bailouts from the public purse.
Many papers are railing against the looting of treasuries.
For example, from the latest Economist:
Unfair cop - America’s approach to punishing financial crime is muddled, lenient and self-defeating
After the savings-and-loan crisis of the early 1990s, Ms Warren pointed out, over 1,000 people were prosecuted, and more than 800 convicted. Yet since the financial crisis of 2007-08, which did far more damage to the economy, no senior banker has been convicted of any crime related to it.
America’s regulators and prosecutors, Ms Warren complained, were not only failing to pursue those responsible; they were also declining to take the banks themselves to court. Instead, they were negotiating murky settlements, in which financial firms agree to pay big fines if prosecutors promise not to press charges.
Events this week [re currency manipulation] have only made the senator more apoplectic.
Negotiated settlements are no substitute for criminal proceedings. For one thing, the punishment falls on shareholders, since the bumper fines come straight out of profits. For another, the lack of trials means there is no proper public examination of the merits of the cases or the calculus behind the penalties
Yet this is the way the Obama administration has handled all manner of alleged misdeeds at banks, from turning a blind eye to money-laundering to helping customers get round American sanctions. Even its campaign against banks that abet tax evasion, the one financial crime it is widely reckoned to have tackled with firmness and consistency, looks muddled on close scrutiny.
24 May '15 11:15Middle Eastern Political EconomyBorders are closing and banks are in retreat. Is globalisation dead?
I have always thought that the greatest threat to globalisation is the US -
Fred Bergsten, economist
23 May '15 17:21European Political EconomyBritain resigns as a world power
This is what a country gets if its people disagree with US foreign policy.
Conflating the US with the international community is a common mistake.
See 19 May '15, 08.19. UK PM's Eden, Major and Blair didn't have this abuse. Worse is to come for Cameron - he may give people a vote on Trident.
23 May '15 16:21Middle Eastern Political Economy
An economic advisor to the Japanese government, highly placed in a leading US university, has suggested a return to the past: piracy in international seas is OK. In the absence of effective international law the country should do whatever benefits it.
22 May '15 15:58Middle Eastern Political Economy
In his new book Superpower
Ian Bremmer questions the support for US foreign policy:
America is the only country with the political, economic, and military muscle to persuade governments in every region of the world to take actions they wouldn’t otherwise take. That’s a working definition for the global projection of power.
But most Americans don’t want their government to project power as it has in past decades. And so America faces an identity crisis. What does America stand for? Americans don’t know. US allies and enemies don’t either. This has become the world’s biggest geopolitical question mark.
The arrogance below is astounding:
Why won't China negotiate with neighbours? What are the objectives for the Islands in China's mind? What about the UN Convention on Law of the Sea.
Questioning the foreign policy of other nations certainly takes the heat away from US foreign policy for the time being.
21 May '15 19:29Middle Eastern Political Economy
Goel, You can't stop this world beating economic/technological juggernaut.
President Obama thinks it's possible to discipline the global economy. See 20 May '15 16:24.
But the official inquiries into the crash in 2008 found that national politics had refused to discipline even national finances, at a cost to the public purse of $billions. Little has changed since then - the president surely can't be serious.
In fact the huge fines on banks we see now, and the refusal to allow international adjudication, suggests that governments encouraged the wrong-doing.