A decent article in the LA Times about the challenges facing the Chinese: China tries to put brakes on overheated economy - How well China succeeds in slowing its economy without triggering a slump holds enormous consequences for the rest of the world economy. The essence is that the Chinese economy, which has been … Continue reading China’s Challenge
I'm back from the Higher Learning Commission conference in Chicago, which is why postings have been sparse. I probably won't get really back up to speed on postings for yet another few days because I've teaching, grading, and taxes to do.In Japan, the aftershocks continue from the massive March 11 earthquake and tsunami. The global … Continue reading Aftershocks: Prepare for the Slowdown
Some information is starting to develop about the economic impacts of the events in Japan. A week ago, just after the triple disasters of earthquake, tsunami, and nuclear plant partial meltdown, it was much too difficult to foresee the probable impacts of the crisis. Now it's starting to show and the news is not encouraging … Continue reading Possible Economic Effects of Japanese Disasters
The U.K. Guardian brings us the telecommunication news yesterday of a new cell phone overlord in the U.S.: In what would be one of the biggest deals since the financial crisis broke, the US telecoms giant AT&T has agreed to buy T-Mobile USA from Deutsche Telekom for $39bn (£24bn), creating the biggest mobile operator in … Continue reading AT&T and T-Mobile: New Boss, Same As Old Boss
Boeing is learning a hard lesson in what micro-economists call the "theory of the firm". Theory of the firm is the branch of econ that explores the question of "why do corporations exist?" and "why do they vary in size?". First, from the LA Times (much more at the linked article itself): The airliner is … Continue reading Boeing Learns a Lesson In Theory of the Firm – Outsourcing Isn’t Always Profitable
Interesting Q & A on Labor Compliance in China. Did Anyone Learn Anything from Nike? from All Roads Lead to China. ... what are the biggest compliance issues that exist in china? The more common compliance issue in China is about working time. It is found in almost every factory as the Chinese law is … Continue reading China: Working Conditions & Globalization
Ecuador resorts to protectionism in the crisis. Major nations are also leaning towards protectionism. Can we avoid the kind of disaster that happened to world trade in the 1930's. More at Christian Science Monitor. "Ecuador is really the outlier here, it's been the most enthusiastic," says Gary Hufbauer, a trade policy expert at the Peterson … Continue reading Will G-2o actually resist protectionism? or is Ecuador showing the way?
I will comment further at LCC Global Perspectives Conference, but All the idols of capitalism over the past three decades crashed. The assumptions and presumptions, paradigm and prognosis of indefinite progress under liberal free market capitalism have been tested and have failed. We are living the end of an entire epoch: Experts everywhere witness the … Continue reading Change in Econ Systems: The era of US-dominated Globalization ending