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Hulumas
Supreme |
05-Jul-2010 11:03
Yells: "INVEST but not TRADE please!" |
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No one minds you stop buying!
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pharoah88
Supreme |
05-Jul-2010 10:53
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SKYPE VIDEO SUMMIT is FREE & GREEN & SECURED |
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pharoah88
Supreme |
05-Jul-2010 10:49
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I So, let’s make our own account of how the G8 did. The answer, alas, is a failing grade. The G8 this year illustrates the difference between photo-ops and serious global governance. Of all of the G8’s promises over the years, the most important was made to the world’s poorest people at the 2005 G8 Gleneagles Summit in Scotland. The G8 promised that, by this year, it would increase annual development assistance to the world’s poor by US$50 billion ($70 billion) relative to 2004. Half of the increase, or US$25 billion per year, would go to Africa. The G8 fell far short of this goal, especially with respect to Africa. Total aid went up by around US$40 billion rather than US$50 billion, and aid to Africa rose by US$10-US$15 billion per year rather than US$25 billion. The properly-measured shortfall is even greater, because the promises that were made in 2005 should be adjusted for inflation. Re-stating those commitments in real terms, total aid should have risen by around US$60 billion, and aid to Africa should have risen by around US$30 billion. In effect, the G8 fulfilled only half of its promise to Africa — roughly US$15 billion in increased aid rather than US$30 billion. Much of the overall G8 increase in aid went to Iraq and Afghanistan, as part of the US-led war effort, rather than to Africa. Among G8 countries, only the UK is making a bold effort to increase its overall aid budget and direct a significant portion to Africa. Since the G8 was off track in its aid commitments for many years, I long wondered what the G8 would say this year, when the commitments actually fell due. In fact, the G8 displayed two approaches. First, in an “accountability report” issued before the summit, the G8 stated the 2005 commitments in current dollars rather than in inflation-adjusted dollars, in order to minimise the size of the reported shortfall. Second, the G8 Summit communique simply did not mention the unmet commitments at all. In other words, the G8 accountability principle became: If the G8 fails to meet an important target, stop mentioning the target — a cynical stance, especially at a summit heralded for “accountability”. n hosting the 2010 G8 summit of major economies (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States), Canadian Prime Minister Stephen Harper called for an “accountability summit”, to hold the G8 responsible for the promises that it made over the years.A MATTER OF LIFE AND DEATH FOR WORLD ’S POOR The G8 did not fail because of the current financial crisis. Even before the crisis, the G8 countries were not taking serious steps to meet their pledges to Africa. This year, despite a massive budget crisis, the UK government has heroically honoured its aid commitments, showing that other countries could have done so if they had tried. But isn’t this what politicians like to do — smile for the cameras, and then fail to honour their promises? I would say that the situation is far more serious than that. First, the Gleneagles commitments might be mere words to politicians in the rich world, but they are matters of life and death for the world’s poor. If Africa had another US$15 billion to US$20 billion per year in development aid this year, as promised, with the amounts rising over future years (also as promised), millions of children would be spared an agonising death from preventable diseases, and tens of millions of children would be able to get an education. Second, the emptiness of G8 leaders’ words puts the world at risk. The G8 leaders promised last year to fight hunger with US$22 billion in new funds, but so far they are not delivering. They promised to fight climate change with US$30 billion of new emergency funds, but so far they are not delivering. My own country, the US, shows the largest gap between promises and reality. Hosting this year’s G8 summit reportedly cost Canada a fortune, despite the absence of any significant results. The estimated cost of hosting the G8 leaders for one-and-a-half days, followed by the G20 leaders for one-and-a-half days, reportedly came to more than US$1 billion. This is essentially the same amount that the G8 leaders pledged to give each year to the world’s poorest countries to support maternal and child health. It is absurd and troubling to spend US$1 billion on three days of meetings under any circumstances (since there are much cheaper ways to have such meetings and much better uses for the money). ***** SKYPE SUMMIT is F R E E ******** But it is tragic to spend so much money and then accomplish next to nothing in terms of concrete results and honest accountability. What’s needed: PROFE SSIONAL MANA GEMENT There are three lessons to be drawn from this sorry episode. First, the G8 as a group should be brought to an end. The G20, which includes developing countries as well as rich countries, should take over. Second, any future promises made by the G20 should be accompanied by a clear and transparent accounting of what each country will do, and when. The world needs true accountability, not empty words about accountability. Every G20 promise should spell out the specific actions and commitments of each country, as well as the overall promise of the group. Third, the world’s leaders should recognise that commitments to fight poverty, hunger, disease and climate change are life-and-death issues that require professional management for serious implementation. The G20 meets later this year in South Korea, a country that has emerged from poverty and hunger over the past 50 years. South Korea understands the utter seriousness of the global development agenda, and the poorest countries’ needs. Our best hope is that South Korea will succeed as the next host country, picking up where Canada has fallen far short. Project Syndicate The writer is Professor of Economics and Director of the Earth Institute at Columbia University. He is also Special Adviser to the United Nations Secretary-General on the Millennium Development Goals. This commentary is exclusive to Today in Singapore.
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pharoah88
Supreme |
05-Jul-2010 10:31
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COMMITTEE is DESiGNED to AVOiD DiRECT RESPONSiBiLiTY iN LEADERSHiP The BiGGER the cOmmittee LiKE G20 the EASiER to AVOiD DiRECT LEADERSHiP RESPONSiBiLiTY iF these sO called LEARDERS are Only capable of working in COMMITTEE, they should form the National Committee with ALL their Oppositions to create and innovate National sOlutions iNTERNALLY. They should nOt WASTE TiME and RESORUCES in iNternational Committee which is nOt iNTERESTED in each's National iNTERESTS....
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alexchia01
Elite |
05-Jul-2010 10:26
Yells: "Catch The Stars And Ride With Them" |
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It's still too early to tell where is STI heading.
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pharoah88
Supreme |
05-Jul-2010 10:24
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The unaccountable G8 Why the G20 should take over and make promises that aren’t just empty words Jeffrey Sachs |
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Blastoff
Elite |
05-Jul-2010 09:41
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STI opens higherSINGAPORE shares opened higher on Monday, with the benchmark Straits Times Index at 2,851.71 in early trade, up 0.26 per cent, or 7.52 points. Around 56.3 million shares exchanged hands. Gainers beat losers 69 to 33. |
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pharoah88
Supreme |
02-Jul-2010 14:08
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Financial markets could face new turbulence SINGAPORE Taken together with the credit crisis in Europe, Aberdeen Asset Management said the result is a “vexed economic climate”. And given the increased volatility, it said investors should adopt a global approach to cut risk and increase returns. This involves diversifying from portfolios that are overweight in developed markets’ currencies and bonds. While investors still remain underweight in emerging markets and Asian currencies and bond markets, Aberdeen is favouring emerging markets, especially those in Asia over the next three to five years. “The fact that the Chinese government is going to allow the yuan to appreciate against the US dollar will encourage other central banks in the region to let their currencies appreciate as well,” said Mr Donald Amstad, director at Aberdeen Asset Management Asia. “So, I would say our base case is for broadly against the US dollars, 3 to 5 per cent currency appreciation for Asian currencies per annum for the next couple of years,” he added. Aberdeen said the Korean won, Malaysian ringgit and Indonesian rupiah are among the currencies that will likely appreciate. Meanwhile, the firm expects equity returns to be in the single digits this year, given the strength of market returns last year. As such, investors may opt for oil-related stocks, which fell in the short-term due to the oil spill in the Gulf of Mexico. Investors should buy equities based on fundamentals rather than following benchmark indices, Aberdeen said. —The combination of high public debt in the West and constant global imbalances has affected economic growth.Travis Teo |
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Hulumas
Supreme |
02-Jul-2010 13:49
Yells: "INVEST but not TRADE please!" |
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Strike makes China faster for reformation process of macro and micro economic modeling path.......... Good for China and CRIIB countries but not the world as a whole, especially US and EU.
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Hulumas
Supreme |
02-Jul-2010 13:43
Yells: "INVEST but not TRADE please!" |
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No, I do not think so, for more and more US and EU various value added products global market share could be eaten up or eventually replaced by China and Asia region countries!
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boyikao3
Master |
02-Jul-2010 13:42
Yells: "Money or reputation ?" |
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I think he eats Tom Yam elephant balls (deep fried) ! 
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pharoah88
Supreme |
02-Jul-2010 13:32
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The Hu Jintao leadership’s attempt to reduce inequality, move back towards freer health and education, improve conditions for migrant workers and “green” production are seen by some, like the academic Lin Chun, as “signs of a resumption of reform socialism”. From enthusiasts for more privatisation and capitalism, there are at the same time increasing grumbles that “the state advances, the private sector retreats”; while the strike wave has emboldened senior former state officials and “old revolutionaries” to call publicly for the “restoration of the working class as the leading class” and “re-establishment of public ownership as the principle part of the economy”. |
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pharoah88
Supreme |
02-Jul-2010 13:28
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RETURN TO REFORM SOCIALISM They are also under intense pressure to respond to revulsion at the gross inequality that has disfigured China in the years of its explosive economic breakthrough. Hence, the introduction of stronger labour protection legislation a couple of years back and sharp rises in minimum wage rates, even before the latest strikes. |
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pharoah88
Supreme |
02-Jul-2010 13:19
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The chairman of the state-owned partner of Honda and Toyota, for instance, insisted the workers’ demands were “reasonable”. The party’s Global Times warned the strikes showed the necessity of “organised labour protection”, complaining “ordinary workers” had received the “smallest share of economic prosperity” from China’s opening to the world market. |
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pharoah88
Supreme |
02-Jul-2010 13:15
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mOre STRiKES in CHiNA and ASiA WiLL LEAD tO wOrld ecOnOmic recOvery, especially iN US and EU ? |
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pharoah88
Supreme |
02-Jul-2010 12:57
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STRiKES and prOtests LEVEL the PLAYiNG FiELDS fOr TRUE DEMO-CRACY ? In TRUE DEMO-CRACY, EXPLOiTATiON cannOt EXiST ? STRiKES and prOtests are absent iN the presence Of FEARS and THREATS ? |
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pharoah88
Supreme |
02-Jul-2010 12:51
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In a nation where strikes are discouraged and often barely reported, the response of the authorities to the latest wave of stoppages has verged on the supportive. The reason is clear enough. China’s leaders are determined to increase consumption at home, shift resources from cheap labour to a more hi-tech output and transfer production to the poorer interior.
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pharoah88
Supreme |
02-Jul-2010 12:48
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Strikes good for China — and world Factory protests against exploitation could help shift the Chinese model in a way to benefit us all Seumas Milne |
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Hulumas
Supreme |
02-Jul-2010 10:10
Yells: "INVEST but not TRADE please!" |
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STI >3000 is imminent!
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iPunter
Supreme |
02-Jul-2010 07:36
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Theres's so much money to be made... hehehe...
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