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16 April 2012

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Ian Jenkins

Here is a 'Foreign Policy' interview this month that seems relevant to past comments, http://www.foreignpolicy.com/articles/2012/04/16/ed_luce_interview

Extracts:

Financial Times columnist Edward Luce has written a new book called 'Time to Start Thinking: America in the Age of Descent' that has received well-deserved acclaim and recognition. . .

The fact that that the 85 percent [of the world's population] is now catching up in this Great Convergence is something to be expected -- it's going to happen and it should be celebrated. It reduces poverty and expands markets. The question is at what speed it is happening and how we are responding to it.

[In the US] Casinos, sports arenas, and convention centers don't generate income for those who've lost their jobs. . . I think, as [GE CEO] Jeff Immelt said, if globalization were put to a referendum in America, it would lose -- which is troubling

One reviewer said my book should be renamed Time to Start Drinking. If I was asked to write one on Britain I might call it Time to Start Sniffing Glue.

Comment

What is striking is the little political appetite so far to prevent the G20's rules of globalisation leading to a race to the bottom. Then again, massive international defaulter and arch nationaliser Argentina is a member.

Rat Xue

I take issue with
"people who seek to work for Amazon do so voluntarily"
since either refusing to apply for a job with them or to accept a job offered by them may result in the loss of benefit for up to 3 years.

Ian Jenkins

Gone are the days when governments could afford to be picky about foreign investment. The trend now is for international investors to demand, and be granted, more and more rights.

Some nations are happier than others with the way things are going. Recent developments? Australia has benefitted hugely from the 'Asian Century'. Canada hopes to benefit, but public opinion there is very opposed at present to some foreign takeovers - Petronas Rebuffed: Politics Hinders Much Needed Investment in Canadian Oil @ http://www.insidermonkey.com/blog/petronas-rebuffed-politics-hinders-much-needed-investment-in-canadian-oil-27609/

In the UK, there are few restrictions. Should there be more? The Foreign Office, with responsibilities for international trade and investment, seems to be clashing now with the Treasury which prefers loose regulation of finance. Who will win?

Certainly Scotland has little chance trying to hold back the tide on its own. It would surely need the support of the EU or NATO.

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