Asia Market Quotes

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I'm telling you, this so-called 'prosperity' is going to be the downfall of Asia. Each new generation becomes lazier than the next. They think they can make overnight fortunes just by flipping properties and getting hot tips in the stock market. Ha! Nothing lasts forever, and when this boom ends, these youngsters won't know what hit them
Kevin Kwan (Crazy Rich Asians (Crazy Rich Asians, #1))
It’s April 2006. It’s a Saturday. I’m walking through a market in Seoul, Korea, having a very public screaming match with a young Chinese-Korean woman whom I have recently promoted to Asia-Pacific Regional Manager. Despite the promotion, she is not happy. I think she wants my job. Right now, I’d happily give it to her if it would shut her up and calm me down. If I’d wanted a screaming match, I could have stayed at home; no, correct that, I’ve never had a domestic dispute as loud and unpleasant as this is turning out to be.
Oliver Dowson (There's No Business Like International Business: Business Travel – But Not As You Know It)
...while the IMF certainly failed the people of Asia, it did not fail Wall Street - far from it. The hot money may have been spooked by the IMF's drastic measures, but the large investment houses and multinational firms were emboldened...These fun-seeking firms understood that as a result of the IMF's "adjustments," pretty much everything in Asia was now up for sale - and the more the market panicked, the more desperate Asian companies would be to sell, pushing their prices through the floor.
Naomi Klein (The Shock Doctrine: The Rise of Disaster Capitalism)
Native to Southeast Asia, zannies were skilled torturers, notoriously amoral, and universally despised. Over the years, zannies had spread across the world, and their small population made them highly paid and in higher demand. Every dictator and genocidal maniac worth his salt had a zannie on staff.
Rebecca Schaeffer (Not Even Bones (Market of Monsters, #1))
Given a choice between patterns of subsistence that are relatively unfavorable to the cultivator but which yield a greater return in manpower or grain to the state and those patterns that benefit the cultivator but deprive the state, the ruler will choose the former every time. The ruler, then, maximizes the state-accessible product, if necessary, at the expense of the overall wealth of the realm and its subjects.
James C. Scott (The Art of Not Being Governed: An Anarchist History of Upland Southeast Asia (Yale Agrarian Studies Series))
To many people today, slavery means white people holding black people in bondage. The vast millions of people around the world who were neither white nor black, but who were either slaves or enslavers for centuries, fade out of this vision of slavery, as if they had never existed, even though they may well have outnumbered both blacks and whites. It has been estimated that there were more slaves in India than in the entire Western Hemisphere. China during the era of slavery has been described as “one of the largest and most comprehensive markets for the exchange of human beings in the world.” Slaves were a majority of the population in some of the cities in Southeast Asia. At some period or other in history, as John Stuart Mill pointed out, “almost every people, now civilized, have consisted, in majority, of slaves.
Thomas Sowell (Intellectuals and Society)
All my parents wanted was the open road and a VW camper van. That was enough escape for them. The ocean, the night sky, some acoustic guitar.. what more could you ask? Well, actually, you could ask to go soaring off the side of a mountain on a snowboard, feeling as if, for one moment you are riding the clouds instead of the snow. You could scour Southeast Asia, like the world weary twenty somethings in Alex Garland’s novel The Beach, looking for the one corner of the globe uncharted by the Lonely Planet to start your own private utopia. You could, for the matter, join a new age cult and dream of alien abduction. From the occult to raves to riots it seems that the eternal urge for escape has never enjoyed such niche marketing.
Naomi Klein (No Logo)
if you’re going to a country, particularly in Southeast Asia, [where] you’ve never been before, it’s a very good idea to go to the market first, see what they’re selling, get an idea of what they’re good at, what the people are buying.
Anthony Bourdain (World Travel: An Irreverent Guide)
Nike acted in synchrony, pledging “a $40 million commitment over the next four years to support the Black community in the U.S.”27 This followed Nike’s widely aired commercial featuring former NFL quarterback Colin Kaepernick, who kneeled during the national anthem in protest of social injustice. The trick? Distracting you from Nike’s practice of employing child labor in sweatshops across southeast Asia or marketing $200 sneakers to inner-city black kids who can’t afford to buy books for school.
Vivek Ramaswamy (Woke, Inc.: Inside Corporate America's Social Justice Scam)
What created the Canons, the Samsungs, the Acers and so on in Japan, Korea and Taiwan was the marriage of infant industry protection and market forces, involving (initially) subsidised exports and competition between manufacturers that vied for state support.
Joe Studwell (How Asia Works: Success and Failure in the World's Most Dynamic Region)
Despite beliefs in some quarters that education makes people more tolerant of other cultures and groups, it has been precisely individuals from newly educated groups, often lacking marketable skills, who have promoted group polarization, whether in Europe, Asia, Africa or the Western
Thomas Sowell (Wealth, Poverty and Politics)
Their successes in our country illustrated the importance of a well-functioning non-corrupt government, a free market, a society that values individuals, including girls and women, a culture that tolerates all religious traditions and an environment free of violence and war. No country in South Asia has yet achieved
Hillary Rodham Clinton (Living History)
Globalization gives workers in Asia better access to rich-country markets than ever before, and they can do many of the jobs that used to be done in the rich countries, even without being able to migrate. If this happens on a large scale, Asian wages will rise, and American and European wages will fall, narrowing earnings inequality in the world as a whole. The
Angus Deaton (The Great Escape: Health, Wealth, and the Origins of Inequality)
Over the past 30 years, approximately 300 million people have moved into China’s middle class. And according to the OECD Development Centre, the forecast is for another 200 million people to move into the middle class by 2026. This means the Asia Pacific region, which in 2009 represented 18% of the world’s middle class, will reach 66 percent by 2030. Let’s repeat that. Over the next 15 years, Asia will go from 20 percent to 66 percent of the world’s middle class. At the same time, the developed markets of North America and Europe, which held a combined 54 percent of the global middle class in 2009, are forecast to drop to only 21 percent by 2030. Basically, follow the money. Asia’s middle class consumers are the future. Learn Mandarin.
Jeffrey Towson (The One Hour China Book (2017 Edition): Two Peking University Professors Explain All of China Business in Six Short Stories)
The display, which was called 'Can Democracy Survive the Internet?' was dedicated to a 'global election management' company called Cambridge Analytica. Cambridge Analytica claimed to have gathered 5,000 data points on every American voter online: what you liked and what you shared on social media; how and where you shopped; who your friends were... They claimed to be able to take this imprint of your online self, use it to understand your deepest drives and desires, and then draw on that analysis to change your voting behaviour. The boast seemed to be backed up by success: Cambridge Analytica had worked on the victorious American presidential campaign of Donald Trump; it had also run successful campaigns for US Senator Ted Cruz (twice); and others all across Africa, Asia, the Caribbean, Latin America.
Peter Pomerantsev (This Is Not Propaganda: Adventures in the War Against Reality)
The right to issue unlimited quantities of anonymously tradable shares, along with the institution of a liquid market for them, created something new: corporations with power so immense, it dwarfed that of their countries of origin, and could be deployed in faraway places assiduously to exploit people and resources. Shareholding and well-governed share markets fired up history, separating ownership from the rest of the East India Company’s activities unleashed a fluid, irresistible force. Unchecked, the East India Company grew more powerful than the British state, answerable only to its shareholders. At home, its bureaucracy corrupted and largely controlled Her majesty’s government. Abroad, its 200,000-strong private army oversaw the destruction of well-functioning economies in Asia and a number of Pacific islands and ensured the systematic exploitation of their peoples.
Yanis Varoufakis (Another Now: Dispatches from an Alternative Present)
But beyond the extravagance of Rome's wealthiest citizens and flamboyant gourmands, a more restrained cuisine emerged for the masses: breads baked with emmer wheat; polenta made from ground barley; cheese, fresh and aged, made from the milk of cows and sheep; pork sausages and cured meats; vegetables grown in the fertile soil along the Tiber. In these staples, more than the spice-rubbed game and wine-soaked feasts of Apicius and his ilk, we see the earliest signs of Italian cuisine taking shape. The pillars of Italian cuisine, like the pillars of the Pantheon, are indeed old and sturdy. The arrival of pasta to Italy is a subject of deep, rancorous debate, but despite the legend that Marco Polo returned from his trip to Asia with ramen noodles in his satchel, historians believe that pasta has been eaten on the Italian peninsula since at least the Etruscan time. Pizza as we know it didn't hit the streets of Naples until the seventeenth century, when Old World tomato and, eventually, cheese, but the foundations were forged in the fires of Pompeii, where archaeologists have discovered 2,000-year-old ovens of the same size and shape as the modern wood-burning oven. Sheep's- and cow's-milk cheeses sold in the daily markets of ancient Rome were crude precursors of pecorino and Parmesan, cheeses that literally and figuratively hold vast swaths of Italian cuisine together. Olives and wine were fundamental for rich and poor alike.
Matt Goulding (Pasta, Pane, Vino: Deep Travels Through Italy's Food Culture (Roads & Kingdoms Presents))
By 1900, a small white minority radiating out from Europe would come to control most of world’s land surface, imposing the imperatives of a commercial economy and international trade on Asia’s mainly agrarian societies. Europeans backed by garrisons and gunboats could intervene in the affairs of any Asian country they wished to. They were free to transport millions of Asian labourers to far-off colonies (Indians to the Malay Peninsula, Chinese to Trinidad); exact the raw materials and commodities they needed for their industries from Asian economies; and flood local markets with their manufactured products. The peasant in his village and the market trader in his town were being forced to abandon a life defined by religion, family and tradition amid rumours of powerful white men with a strange god-on-a-cross who were reshaping the world- men who married moral aggressiveness with compact and coherent nation-states, the profit motive and superior weaponry, and made Asian societies seem lumberingly inept in every way, unable to match the power of Europe or unleash their own potential.
Pankaj Mishra (From the Ruins of Empire: The Revolt Against the West and the Remaking of Asia)
The easiest way to run developmentally efficient finance continues to be through a banking system, because it is banks that can most easily be pointed by governments at the projects necessary to agricultural and industrial development. Most obviously, banks respond to central bank guidance. They can be controlled via rediscounting loans for exports and for industrial upgrading, with the system policed through requirements for export letters of credit from the ultimate borrowers. The simplicity and bluntness of this mechanism makes it highly effective. Bond markets, and particularly stock markets, are harder for policymakers to control. The main reason is that it is difficult to oversee the way in which funds from bond and stock issues are used. It is, tellingly, the capacity of bank-based systems for enforcing development policies that makes entrepreneurs in developing countries lobby so hard for bond, and especially stock, markets to be expanded. These markets are their means to escape government control. It is the job of governments to resist entrepreneurs’ lobbying until basic developmental objectives have been achieved. Equally, independent central banks are not appropriate to developing countries until considerable economic progress has been made.
Joe Studwell (How Asia Works: Success and Failure in the World's Most Dynamic Region)
Huperzia serrata   Native to India and Southeast Asia, the Huperzia serrata is also called firmoss. It is used in Chinese and Ayurvedic medicine as medicinal plants to treat different types of maladies. In recent studies, researchers have found out that it contains neuro-protective properties.   Benefits   Unlike other medicinal herbs in Asia, Huperzia serrata is not as common in Western folk medicine. This particular herb contains the compound called huperzine A which is an acetylcholinesterase inhibitor and NMDA receptor antagonist. Below are the benefits of using this medicinal herb.   It is used to improve the brain and cognitive function.   It can also help prevent the occurrence of autoimmune neuromuscular diseases that can lead to muscle weakness and disability.   It has the potential of treating patients suffering from Alzheimer’s disease.   How to Use   This particular medicinal herb is prepared as tea or infusion. However, there are also dietary supplements available from the market that you can take.
Jeff Robson (Medicinal Herbs: The Ultimate Guide to Medical Herbs that Heal)
Sons of ditch-diggers aspired to be bastard sons of kings and thieving aristocrats rather than of rough handed children of dirt and toil. The immense profit from this new exploitation and world-wide commerce enabled a guild of millionaires to engage the greatest engineers, the wisest men of science, as well as pay high wage to the more intelligent labor and at the same time to have left enough surplus to make more and thorough the dictatorship of capital over the state and over the popular vote, not only in Europe and America, but in Asia and Africa. The world wept because within the exploiting group of New World masters, greed and jealousy became so fierce that they fought for trade and markets and materials and slaves all over the world until at last in 1914 the world flamed in war. The fantastic structure fell, leaving grotesque profits and poverty plenty and starvation empire and democracy staring at each other across world depression. And the rebuilding, whether it comes now or a century later, will and must go back to the basic principles of reconstruction in the United States during 1867-1876--Land light and leading for slaves black brown yellow and white...
W.E.B. Du Bois (Black Reconstruction in America 1860-1880)
businesses that could benefit from the way networks behave, and this approach yielded some notable successes. Richard came from a different slant. For twenty years, he was a ‘strategy consultant’, using economic analysis to help firms become more profitable than their rivals. He ended up co-founding LEK, the fastest-growing ‘strategy boutique’ of the 1980s, with offices in the US, Europe and Asia. He also wrote books on business strategy, and in particular championed the ‘star business’ idea, which stated that the most valuable venture was nearly always a ‘star’, defined as the biggest firm in a high-growth market. In the 1990s and 2000s, Richard successfully invested the money he had made as a management consultant in a series of star ventures. He also read everything available about networks, feeling intuitively that they were another reason for business success, and might also help explain why some people’s careers took off while equally intelligent and qualified people often languished. So, there were good reasons why Greg and Richard might want to write a book together about networks. But the problem with all such ‘formal’ explanations is that they ignore the human events and coincidences that took place before that book could ever see the light of day. The most
Richard Koch (Superconnect: How the Best Connections in Business and Life Are the Ones You Least Expect)
A similar vicious circle perpetuated the racial hierarchy in modern America. From the sixteenth to the eighteenth century, the European conquerors imported millions of African slaves to work the mines and plantations of America. They chose to import slaves from Africa rather than from Europe or East Asia due to three circumstantial factors. Firstly, Africa was closer, so it was cheaper to import slaves from Senegal than from Vietnam. Secondly, in Africa there already existed a well-developed slave trade (exporting slaves mainly to the Middle East), whereas in Europe slavery was very rare. It was obviously far easier to buy slaves in an existing market than to create a new one from scratch. Thirdly, and most importantly, American plantations in places such as Virginia, Haiti and Brazil were plagued by malaria and yellow fever, which had originated in Africa. Africans had acquired over the generations a partial genetic immunity to these diseases, whereas Europeans were totally defenceless and died in droves. It was consequently wiser for a plantation owner to invest his money in an African slave than in a European slave or indentured labourer. Paradoxically, genetic superiority (in terms of immunity) translated into social inferiority: precisely because Africans were fitter in tropical climates than Europeans, they ended up as the slaves of European masters! Due to these circumstantial factors, the burgeoning new societies of America were to be divided into a ruling caste of white Europeans and a subjugated caste of black Africans.
Yuval Noah Harari (Sapiens: A Brief History of Humankind)
Professor Joseph Stiglitz, former Chief Economist of the World Bank, and former Chairman of President Clinton's Council of Economic Advisers, goes public over the World Bank’s, “Four Step Strategy,” which is designed to enslave nations to the bankers. I summarise this below, 1. Privatisation. This is actually where national leaders are offered 10% commissions to their secret Swiss bank accounts in exchange for them trimming a few billion dollars off the sale price of national assets. Bribery and corruption, pure and simple. 2. Capital Market Liberalization. This is the repealing any laws that taxes money going over its borders. Stiglitz calls this the, “hot money,” cycle. Initially cash comes in from abroad to speculate in real estate and currency, then when the economy in that country starts to look promising, this outside wealth is pulled straight out again, causing the economy to collapse. The nation then requires International Monetary Fund (IMF) help and the IMF provides it under the pretext that they raise interest rates anywhere from 30% to 80%. This happened in Indonesia and Brazil, also in other Asian and Latin American nations. These higher interest rates consequently impoverish a country, demolishing property values, savaging industrial production and draining national treasuries. 3. Market Based Pricing. This is where the prices of food, water and domestic gas are raised which predictably leads to social unrest in the respective nation, now more commonly referred to as, “IMF Riots.” These riots cause the flight of capital and government bankruptcies. This benefits the foreign corporations as the nations remaining assets can be purchased at rock bottom prices. 4. Free Trade. This is where international corporations burst into Asia, Latin America and Africa, whilst at the same time Europe and America barricade their own markets against third world agriculture. They also impose extortionate tariffs which these countries have to pay for branded pharmaceuticals, causing soaring rates in death and disease.
Anonymous
...the centrality of competitiveness as the key to growth is a recurrent EU motif. Two decades of EC directives on increasing competition in every area, from telecommunications to power generation to collateralizing wholesale funding markets for banks, all bear the same ordoliberal imprint. Similarly, the consistent focus on the periphery states’ loss of competitiveness and the need for deep wage and cost reductions therein, while the role of surplus countries in generating the crisis is utterly ignored, speaks to a deeply ordoliberal understanding of economic management. Savers, after all, cannot be sinners. Similarly, the most recent German innovation of a constitutional debt brake (Schuldenbremse) for all EU countries regardless of their business cycles or structural positions, coupled with a new rules-based fiscal treaty as the solution to the crisis, is simply an ever-tighter ordo by another name. If states have broken the rules, the only possible policy is a diet of strict austerity to bring them back into conformity with the rules, plus automatic sanctions for those who cannot stay within the rules. There are no fallacies of composition, only good and bad policies. And since states, from an ordoliberal viewpoint, cannot be relied upon to provide the necessary austerity because they are prone to capture, we must have rules and an independent monetary authority to ensure that states conform to the ordo imperative; hence, the ECB. Then, and only then, will growth return. In the case of Greece and Italy in 2011, if that meant deposing a few democratically elected governments, then so be it. The most remarkable thing about this ordoliberalization of Europe is how it replicates the same error often attributed to the Anglo-American economies: the insistence that all developing states follow their liberal instruction sheets to get rich, the so-called Washington Consensus approach to development that we shall discuss shortly. The basic objection made by late-developing states, such as the countries of East Asia, to the Washington Consensus/Anglo-American idea “liberalize and then growth follows” was twofold. First, this understanding mistakes the outcomes of growth, stable public finances, low inflation, cost competitiveness, and so on, for the causes of growth. Second, the liberal path to growth only makes sense if you are an early developer, since you have no competitors—pace the United Kingdom in the eighteenth century and the United States in the nineteenth century. Yet in the contemporary world, development is almost always state led.
Mark Blyth (Austerity: The History of a Dangerous Idea)
The attachment voids experienced by immigrant children are profound. The hardworking parents are focused on supporting their families economically and, unfamiliar with the language and customs of their new society, they are not able to orient their children with authority or confidence. Peers are often the only people available for such children to latch on to. Thrust into a peer-oriented culture, immigrant families may quickly disintegrate. The gulf between child and parent can widen to the point that becomes unbridgeable. Parents of these children lose their dignity, their power, and their lead. Peers ultimately replace parents and gangs increasingly replace families. Again, immigration or the necessary relocation of people displaced by war or economic misery is not the problem. Transplanted to peer-driven North American society, traditional cultures succumb. We fail our immigrants because of our own societal failure to preserve the child-parent relationship. In some parts of the country one still sees families, often from Asia, join together in multigenerational groups for outings. Parents, grandparents, and even frail great-grandparents mingle, laugh, and socialize with their children and their children's offspring. Sadly, one sees this only among relatively recent immigrants. As youth become incorporated into North American society, their connections with their elders fade. They distance themselves from their families. Their icons become the artificially created and hypersexualized figures mass-marketed by Hollywood and the U.S. music industry. They rapidly become alienated from the cultures that have sustained their ancestors for generation after generation. As we observe the rapid dissolution of immigrant families under the influence of the peer-oriented society, we witness, as if on fast-forward video, the cultural meltdown we ourselves have suffered in the past half century. It would be encouraging to believe that other parts of the world will successfully resist the trend toward peer orientation. The opposite is likely to be the case as the global economy exerts its corrosive influences on traditional cultures on other continents. Problems of teenage alienation are now widely encountered in countries that have most closely followed upon the American model — Britain, Australia, and Japan. We may predict similar patterns elsewhere to result from economic changes and massive population shifts. For example, stress-related disorders are proliferating among Russian children. According to a report in the New York Times, since the collapse of the Soviet Union a little over a decade ago, nearly a third of Russia's estimated 143 million people — about 45 million — have changed residences. Peer orientation threatens to become one of the least welcome of all American cultural exports.
Gabor Maté (Hold On to Your Kids: Why Parents Need to Matter More Than Peers)
Birch bark lends a mild wintergreen flavor to brewed sodas. Birch beer, flavored with sassafras and birch, is a classic American brew. Birch bark is usually sold in homebrew stores. Bitter Orange (Bergamot) s highly aromatic, and its dried peel is an essential part of cola flavor. The dried peel and its extract are usually available in spice shops, or any store with a good spice selection. They can be pricey. Burdock root s a traditional ingredient in American root beers. It has a mild sweet flavor similar to that of artichoke. Dried burdock root is available in most Asian groceries and homebrew stores. Cinnamon has several species, but they all fall into two types. Ceylon cinnamon is thin and mild, with a faint fragrance of allspice. Southeast Asian cinnamon, also called cassia, is both stronger and more common. The best grade comes from Vietnam and is sold as Saigon cinnamon. Use it in sticks, rather than ground. The sticks can be found in most grocery stores. Ginger, a common soda ingredient, is very aromatic, at once spicy and cooling. It is widely available fresh in the produce section of grocery stores, and it can be found whole and dried in most spice shops. Lemongrass, a perennial herb from central Asia, contains high levels of citral, the pungent aromatic component of lemon oil. It yields a rich lemon flavor without the acid of lemon juice, which can disrupt the fermentation of yeasted sodas. Lemon zest is similar in flavor and can be substituted. Lemongrass is available in most Asian markets and in the produce section of well-stocked grocery stores. Licorice root provides the well-known strong and sweet flavor of black licorice candy. Dried licorice root is sold in natural food stores and homebrew stores. Anise seed and dried star anise are suitable substitutes. Sarsaparilla s similar in flavor to sassafras, but a little milder. Many plants go by the name sarsaparilla. Southern-clime sarsaparilla (Smilax spp.) is the traditional root-beer flavoring. Most of the supply we get in North America comes from Mexico; it’s commonly sold in homebrew stores. Wild sarsaparilla (Aralia spp.) is more common in North America and is sometimes used as a substitute for true sarsaparilla. Small young sarsaparilla roots, known as “root bark” are less pungent and are usually preferred for soda making, although fully mature roots give fine results. Sassafras s the most common flavoring for root beers of all types. Its root bark is very strong and should be used with caution, especially if combined with other flavors. It is easily overpowering. Dried sassafras is available in homebrew stores. Star anise, the dried fruit of an Asian evergreen, tastes like licorice, with hints of clove and cinnamon. The flavor is strong, so use star anise with caution. It is available dried in the spice section of most grocery stores but can be found much more cheaply at Asian markets.
Andrew Schloss (Homemade Soda: 200 Recipes for Making & Using Fruit Sodas & Fizzy Juices, Sparkling Waters, Root Beers & Cola Brews, Herbal & Healing Waters, Sparkling ... & Floats, & Other Carbonated Concoctions)
In opting for large scale, Korean state planners got much of what they bargained for. Korean companies today compete globally with the Americans and Japanese in highly capital-intensive sectors like semiconductors, aerospace, consumer electronics, and automobiles, where they are far ahead of most Taiwanese or Hong Kong companies. Unlike Southeast Asia, the Koreans have moved into these sectors not primarily through joint ventures where the foreign partner has provided a turnkey assembly plant but through their own indigenous organizations. So successful have the Koreans been that many Japanese companies feel relentlessly dogged by Korean competitors in areas like semiconductors and steel. The chief advantage that large-scale chaebol organizations would appear to provide is the ability of the group to enter new industries and to ramp up to efficient production quickly through the exploitation of economies of scope.70 Does this mean, then, that cultural factors like social capital and spontaneous sociability are not, in the end, all that important, since a state can intervene to fill the gap left by culture? The answer is no, for several reasons. In the first place, not every state is culturally competent to run as effective an industrial policy as Korea is. The massive subsidies and benefits handed out to Korean corporations over the years could instead have led to enormous abuse, corruption, and misallocation of investment funds. Had President Park and his economic bureaucrats been subject to political pressures to do what was expedient rather than what they believed was economically beneficial, if they had not been as export oriented, or if they had simply been more consumption oriented and corrupt, Korea today would probably look much more like the Philippines. The Korean economic and political scene was in fact closer to that of the Philippines under Syngman Rhee in the 1950s. Park Chung Hee, for all his faults, led a disciplined and spartan personal lifestyle and had a clear vision of where he wanted the country to go economically. He played favorites and tolerated a considerable degree of corruption, but all within reasonable bounds by the standards of other developing countries. He did not waste money personally and kept the business elite from putting their resources into Swiss villas and long vacations on the Riviera.71 Park was a dictator who established a nasty authoritarian political system, but as an economic leader he did much better. The same power over the economy in different hands could have led to disaster. There are other economic drawbacks to state promotion of large-scale industry. The most common critique made by market-oriented economists is that because the investment was government rather than market driven, South Korea has acquired a series of white elephant industries such as shipbuilding, petrochemicals, and heavy manufacturing. In an age that rewards downsizing and nimbleness, the Koreans have created a series of centralized and inflexible corporations that will gradually lose their low-wage competitive edge. Some cite Taiwan’s somewhat higher overall rate of economic growth in the postwar period as evidence of the superior efficiency of a smaller, more competitive industrial structure.
Francis Fukuyama (Trust: The Social Virtues and the Creation of Prosperity)
What a joy this book is! I love recipe books, but it’s short-lived; I enjoy the pictures for several minutes, read a few pages, and then my eyes glaze over. They are basically books to be used in the kitchen for one recipe at a time. This book, however, is in a different class altogether and designed to be read in its entirety. It’s in its own sui generis category; it has recipes at the end of most of the twenty-one chapters, but it’s a book to be read from cover to cover, yet it could easily be read chapter by chapter, in any order, as they are all self-contained. Every bite-sized chapter is a flowing narrative from a well-stocked brain encompassing Balinese culture, geography and history, while not losing its main focus: food. As you would expect from a scholar with a PhD in history from Columbia University, the subject matter has been meticulously researched, not from books and articles and other people’s work, but from actually being on the ground and in the markets and in the kitchens of Balinese families, where the Balinese themselves learn their culinary skills, hands on, passed down orally, manually and practically from generation to generation. Vivienne Kruger has lived in Bali long enough to get it right. That’s no mean feat, as the subject has not been fully studied before. Yes, there are so-called Balinese recipe books, most, if I’m not mistaken, written by foreigners, and heavily adapted. The dishes have not, until now, been systematically placed in their proper cultural context, which is extremely important for the Balinese, nor has there been any examination of the numerous varieties of each type of recipe, nor have they been given their true Balinese names. This groundbreaking book is a pleasure to read, not just for its fascinating content, which I learnt a lot from, but for the exuberance, enthusiasm and originality of the language. There’s not a dull sentence in the book. You just can’t wait to read the next phrase. There are eye-opening and jaw-dropping passages for the general reader as Kruger describes delicacies from the village of Tengkudak in Tabanan district — grasshoppers, dragonflies, eels and live baby bees — and explains how they are caught and cooked. She does not shy away from controversial subjects, such as eating dog and turtle. Parts of it are not for the faint-hearted, but other parts make you want to go out and join the participants, such as the Nusa Lembongan fishermen, who sail their outriggers at 5.30 a.m. The author quotes Miguel Covarrubias, the great Mexican observer of the 1930s, who wrote “The Island of Bali.” It has inspired all writers since, including myself and my co-author, Ni Wayan Murni, in our book “Secrets of Bali, Fresh Light on the Morning of the World.” There is, however, no bibliography, which I found strange at first. I can only imagine it’s a reflection of how original the subject matter is; there simply are no other sources. Throughout the book Kruger mentions Balinese and Indonesian words and sometimes discusses their derivations. It’s a Herculean task. I was intrigued to read that “satay” comes from the Tamil word for flesh ( sathai ) and that South Indians brought satay to Southeast Asia before Indonesia developed its own tradition. The book is full of interesting tidbits like this. The book contains 47 recipes in all, 11 of which came from Murni’s own restaurant, Murni’s Warung, in Ubud. Mr Dolphin of Warung Dolphin in Lovina also contributed a number of recipes. Kruger adds an introduction to each recipe, with a detailed and usually very personal commentary. I think my favorite, though, is from a village priest (pemangku), I Made Arnila of the Ganesha (Siwa) Temple in Lovina. water. I am sure most will enjoy this book enormously; I certainly did.” Review published in The Jakarta Globe, April 17, 2014. Jonathan Copeland is an author and photographer based in Bali. thejakartaglobe/features/spiritual-journey-culinary-world-bali
Vivienne Kruger
The widely mis-interpreted 1998 'meltdown' of East Asia was a financial symptom of the renewed reality: In fact, it was the first round the world recession again to begin in East Asia and spread from there to the West, instead of vice versa. That marked the beginnings of the return back 360 degrees around the world of the world economic center to Asia where it had always been before those two eighty-year period of temporary Western ascendance. The stock market crash in Hong Kong and the devaluation of the Thai baht and the Indonesian rupia took only 80 seconds to make themselves felt in the London City and on New York's Wall Street. How much of a cultural lag do we still need for popular perception and social theory to catch up with global reality?
André Gunder Frank
In the past, the states best able to manage events beyond their borders have been those best able to avoid the temptation to overreach. Great powers remain great in large measure because they posses wisdom to temper active involvement in foreign interventions - to remain within the limits of a national strategy that balances ambition with military resources. The first principle of the strategic art states simply that the greatest weight of resources be devoted to safeguarding the most vital interests of the state. If a vital interest is threatened, the survival of the state is threatened. Generally, the most vital interest of a liberal democracy include, first and foremost, preservation of the territorial integrity of the state. The example of the attacks on New York and Washington should send a message to those of similar ambitions that the surest way to focus the wrath of the American people against them would be to strike this country within its borders again. The second strategic priority is the protection of the national economic welfare by ensuring free and open access to markets for vital materials and finished goods. Other important but less vital interests should be defended by the threat of force only as military resources permit. Outside the limits of U.S. territory, the strategic problem defining the geographic limits of U.S. vital interests becomes complex. While the United States may have some interests in every corner of the world, there are certain regions where its strategic interests, both economic and cultural, are concentrated and potentially threatened. These vital strategic "centers of gravity" encompass in the first instance those geographic areas essential to maintaining access to open markets and sources of raw material, principally oil. Fortunately, many of these economically vital centers are secure from serious threat. But a few happen to be located astride regions that have witnessed generations of cultural and ethnic strife. Four regions overshadow all others in being both vital to continued domestic prosperity and continually under the threat of state-supported violence. These regions are defined generally by an arc of territories along the periphery of Eurasia: Europe, the Middle East, South Asia, and north East Asia. For the past several centuries, these regions have been the areanas of the world's most serious and intractable conflicts. Points of collision begin with the intersection of Western and Eastern Christianity and continue southward to mark Islam's incursion into southeastern Europe in the Balkans. The cultural divide countries without interruption across the Levant in an unbroken line of unrest and warring states from the crescent of the Middle East to the subcontinent of South Asia. The fault-line concludes with the divide between China and all the traditional cultural competitors along its land and sea borders. Other countries outside the periphery of Eurasia might, in extreme cases, demand the presence of U.S. forces for peacekeeping or humanitarian operations. But it is unlikely that in the years to come the United States will risk a major conflict that will involve the calculated commitment of forces in a shooting war in regions outside this "periphery of Eurasia," which circumscribes and defines America's global security.
Robert H. Scales
We shall not reduce economic ties but, if our Western partners make that mistake, intensive work in other markets will reduce the losses," he said, adding the Russia was developing cooperation with countries of the Asia-Pacific region and with India and China, among others.
Anonymous
Soy Even though a wide range of products made from soybeans have been marketed as a health food in recent years, research proves that (unfermented) soy is extremely unhealthy. Most soy products in the United States are not fermented. Unfermented soy is a problem for the following reasons: 1. It contains dangerous quantities of antinutrients, which are substances that block the body from absorbing important nutrients. The most notable are hemagglutinin, goitrogens, and phytic acid. Hemagglutinin promotes unhealthy blood clotting and blocks oxygen. Goitrogens prevent iodine from reaching the thyroid. Without iodine, the thyroid can enlarge and malfunction. Phytic acid blocks the body's absorption of essential minerals like calcium and magnesium. 2. It has lots of phytoestrogens, which do damage by mimicking estrogen inside the body. 3. It contains lysinoalanine, a known toxin, and nitrosamines, which are known carcinogens. 4. It has harmful levels of the mineral manganese and dangerous amounts of aluminum from being processed in aluminum containers. 5. It has a high risk of contamination with mycotoxins. 6. It is almost always genetically modified. As you can see, soy has pretty much everything going against it. Fortunately, it's easy to avoid processed soy in the United States because it must be listed as an ingredient on product labels. Most soy in Asian cuisine is different because it's been fermented. Fermentation greatly decreases the antinutrient and phytic acid levels. Fermented soy products include tempeh, miso, and natto. Most of these products are still highly processed and artificial, though, and soy sauce naturally contains MSG. To avoid GMO soy, make sure that any fermented soy product you eat is organic, or better yet just don't eat it at all. Even in areas of the world like Asia where fermented soy is common, people actually don't eat much of it. A 1998 study found that Japanese men eat only about eight grams of soy per day (a teaspoon or two). The average misguided American consumes far more than this when he drinks a glass of soy milk or eats a soy burger (and these soy products aren't even fermented).
Lana Asprey (The Better Baby Book: How to Have a Healthier, Smarter, Happier Baby)
Ainoa asia, jota onnetar ei säätele, on käyttäytymiseni.
Nassim Nicholas Taleb (Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto))
YULCHON is a specialized manufacturer of Cold-Drawn Carbon Steel Tubes (DOM Tube) for steering column, rack and pinion steering gears, propeller shaft, gas cylinder, gas spring, hydraulic cylinder, tubes for shock absorber, bush in automotive industry and shaped tube in furniture or construction industry. Since its founding in 1986, we have made steady efforts of technology development and product quality improvement. As a result, we currently export products to USA, Australia, Europe, South-East Asia, China, Middle East etc. and try to expand markets to the rest of the world. We always try to meet customer’s satisfaction with stable quality, on time delivery and competitive price. Our aim is to be the best DOM manufacturer in the world. More here ycpipe.com
ycpipe
s s i o n o f R a t i o n a l S o f t w a r e C o r p o r a t i o n i s t o e n s u r e t h e s u c c e s s o f c u s t o m e r s c o n s t r u c t i n g t h e s o f t w a r e s y s t e m s t h a t t h e y d e p e n d o n . We enable our customers to achieve their business objectives by turning software into a source of competitive advantage, speeding time-to-market, reducing the risk of failure, and improving software quality. We fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications
Anonymous
o n o f R a t i o n a l S o f t w a r e C o r p o r a t i o n i s t o e n s u r e t h e s u c c e s s o f c u s t o m e r s c o n s t r u c t i n g t h e s o f t w a r e s y s t e m s t h a t t h e y d e p e n d o n . We enable our customers to achieve their business objectives by turning software into a source of competitive advantage, speeding time-to-market, reducing the risk of failure, and improving software quality. We fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications, banking and financial services, manufacturing, transportation, aerospace, and defense.They construct software applications for a wide range of platforms, from microprocessors embedded in telephone switching systems to enterprisewide information systems running on company-specific intranets. Rational Software Corporation is traded on the NASDAQ system under the symbol RATL.1
Anonymous
The market is growing, and widening. Translation in continental Europe was once dominated by the “FIGS” (French, Italian, German and Spanish); Japanese, Chinese and Korean were the only Asian languages to speak of. Roughly 90% of online spending is accounted for by speakers of 13 languages, says Don DePalma of CSA. But others are becoming more important, for reasons of both politics and commerce. The European Union’s bureaucrats now have to communicate in 24 tongues. In Asia once-neglected languages such as Vietnamese and Indonesian matter more as those countries grow. Companies active in Africa regard that continent’s languages as increasingly important. Big software firms like Microsoft find it profitable to localise their wares in small languages like Maya or Luxembourgish.
Anonymous
South-east Asia’s high savings rates, most of which flowed into bank deposits, lent themselves to outsize banking systems, which invited godfather abuse. There is, in turn, a pretty direct line from the insider manipulation of regional banks to the Asian financial crisis. The ‘over-banked’ nature of south-east Asia also helps explain a conundrum that has occupied some of the region’s equity investors: why, despite heady economic growth, have long-term stock market returns in south-east Asia been so poor? Since 1993, when a flood of foreign money increased capitalisation in regional markets by around 2.5 times in one calendar year,37 dollar-denominated returns with dividends reinvested (what investors call ‘total’ returns) in every regional market have been lower than those in the mature markets of New York and London, and a fraction of those in other emerging markets in eastern Europe and Latin America.38
Joe Studwell (Asian Godfathers: Money and Power in Hong Kong and South East Asia)
get a sense of how powerful Musk’s work may end up being for the American economy, have a think about the dominant mechatronic machine of the past several years: the smartphone. Pre-iPhone, the United States was the laggard in the telecommunications industry. All of the exciting cell phones and mobile services were in Europe and Asia, while American consumers bumbled along with dated equipment. When the iPhone arrived in 2007, it changed everything. Apple’s device mimicked many of the functions of a computer and then added new abilities with its apps, sensors, and location awareness. Google charged to market with its Android software and related handsets, and the United States suddenly emerged as the driving force in the mobile industry. Smartphones were revolutionary because of the ways they allowed hardware, software, and services to work in unison. This was a mix that favored the skills of Silicon Valley. The rise of the smartphone led to a massive industrial boom in which Apple became the most valuable company in the country, and billions of its clever devices were spread all over the world.
Ashlee Vance (Elon Musk: Inventing the Future)
Page 259: The bottom line is this. Democracy can be inimical to the interests of market-dominant minorities. There were good reasons why the Indians in Kenya and whites in South Africa, Zimbabwe, and America’s Southern states resisted democratization for generations. Market-dominant minorities do not really want democracy, at least not in the sense of having their fate determined by genuine majority rule. Some readers will surely protest. Many market-dominant minorities—the Chinese in Malaysia, for example, or Jews in Russia, and Americans everywhere—often seem to be among the most vocal advocates of democracy. But “democracy” is a notoriously contested term, meaning different things to different people. When entrepreneurial but politically vulnerable minorities like the Chinese in Southeast Asia, Indians in East Africa, or Jews in Russia call for democracy, they principally have in mind constitutionally guaranteed human rights and property protections for minorities. In other words, in calling for democracy, these “outsider” groups are precisely seeking protection against “tyranny of the majority.
Amy Chua (World on Fire: How Exporting Free Market Democracy Breeds Ethnic Hatred and Global Instability)
There have been three major slave revolts in human history. The first, led by the Thracian gladiator Spartacus against the Romans, occurred in 73 BC. The third was in the 1790s when the great black revolutionary Touissant L'Ouverture and his slave army wrested control of Santo Domingo from the French, only to be defeated by Napoleon in 1802. But the second fell halfway between these two, in the middle of the 9th century AD, and is less documented than either. We do know that the insurgents were black; that the Muslim 'Abbasid caliphs of Iraq had brought them from East Africa to work, in the thousands, in the salt marshes of the delta of the Tigris. These black rebels beat back the Arabs for nearly ten years. Like the escaped maroons in Brazil centuries later, they set up their own strongholds in the marshland. They seemed unconquerable and they were not, in fact, crushed by the Muslims until 883. They were known as the Zanj, and they bequeathed their name to the island of Zanzibar in the East Africa - which, by no coincidence, would become and remain the market center for slaves in the Arab world until the last quarter of the 19th century. The revolt of the Zanj eleven hundred years ago should remind us of the utter falsity of the now fashionable line of argument which tries to suggest that the enslavement of African blacks was the invention of European whites. It is true that slavery had been written into the basis of the classical world; Periclean Athens was a slave state, and so was Augustan Rome. Most of their slaves were Caucasian whites, and "In antiquity, bondage had nothing to do with physiognomy or skin color". The word "slave" meant a person of Slavic origin. By the 13th century it spread to other Caucasian peoples subjugated by armies from central Asia: Russians, Georgians, Circassians, Albanians, Armenians, all of whom found ready buyers from Venice to Sicily to Barcelona, and throughout the Muslim world. But the African slave trade as such, the black traffic, was a Muslim invention, developed by Arab traders with the enthusiastic collaboration of black African ones, institutionalized with the most unrelenting brutality centuries before the white man appeared on the African continent, and continuing long after the slave market in North America was finally crushed. Historically, this traffic between the Mediterranean and sub-Saharan Africa begins with the very civilization that Afrocentrists are so anxious to claim as black - ancient Egypt. African slavery was well in force long before that: but by the first millennium BC Pharaoh Rameses II boasts of providing the temples with more than 100,000 slaves, and indeed it is inconceivable that the monumental culture of Egypt could have been raised outside a slave economy. For the next two thousand years the basic economies of sub-Saharan Africa would be tied into the catching, use and sale of slaves. The sculptures of medieval life show slaves bound and gagged for sacrifice, and the first Portuguese explorers of Africa around 1480 found a large slave trade set up from the Congo to Benin. There were large slave plantations in the Mali empire in the 13th-14th centuries and every abuse and cruelty visited on slaves in the antebellum South, including the practice of breeding children for sale like cattle, was practised by the black rulers of those towns which the Afrocentrists now hold up as sanitized examples of high civilization, such as Timbuktu and Songhay.
Robert Hughes (Culture of Complaint: The Fraying of America (American Lectures))
Page 10-11: Because of America's vigorous growth, and because the dollar plays a special role in the international economy, foreigners have been willing to finance the nation's imports and consumption. The bad news is that America's trade and investment deficits with the rest of the world (i.e., the amounts by which it is spending more than it is producing and borrowing more than it is lending) are growing so fast that they threaten to place the United States in the position of Thailand in 1997. That is to say, America's debts to the rest of the world may soon become large enough that its creditors could start wondering about the nation's ability to repay. Should foreigners lose faith in America's creditworthiness, they may start dumping dollars the way they dumped Thai baht. In that case, the American consumer would face significant belt-tightening to enable to country to start paying the debt down. Alternatively, the Federal Reserve could raise interest rates very high. This step would aim at persuading foreigners to keep up their lending by offering them higher rates of return on their loans, but it would also slow down the domestic economy by making the cost of money much more expensive for businesses and consumers. It would also add greatly to the total debt that would have to be repaid. ... A significant U.S. slowdown, therefore, would most likely leave the Japanese and Europeans (plus the Chinese and the rest of Asia and Latin America) with ever greater stockpiles of goods that no one could or would buy. These products would either languish on the shelf, or global price wars would break out, with each country trying to undercut the other in a frantic attempt to trim losses. Nations would either offer their goods for sale for much less than their production costs, or they would devalue their currencies, making them cheaper relative to other currencies. Thus their goods would automatically sell for less in foreign markets, and foreign goods would automatically become more expensive in their market.
Alan Tonelson (The Race To The Bottom: Why A Worldwide Worker Surplus And Uncontrolled Free Trade Are Sinking American Living Standards)
For example, in 1602 when the United Dutch Chartered East India Company (Dutch East India Company, for short) became the first company to issue stock,1 the shares were extremely illiquid. When first issued, no stock market even existed, and purchasers were expected to hold on to the shares for 21 years, the length of time granted to the company by the Netherlands’ charter over trade in Asia. However, some investors wanted to sell their shares, perhaps to pay down debts, and so an informal market for the stock (the very first stock market) developed in the Amsterdam East India House. As more joint-stock equity companies were founded, this informal location grew, and was later formalized as the Amsterdam Stock Exchange, the oldest “modern” securities exchange in the world.2 Despite the structure of the shares of the Dutch East India Company not changing much, their market liquidity and trading volumes changed considerably.
Chris Burniske (Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond)
SIRIUS Partner Group is a Asia Pacific regional advisory group. Our services include: intellectual capital, technology consulting, digital transformation, executive search, market competitor analysis, big data analysis and much more.
SIRIUS Partners
MY DEMOGRAPHIC RESEARCH makes it crystal clear that emerging countries, outside of China and a few others like Thailand, will dominate demographic growth in the next global boom. But the even more powerful factor is the urbanization process, with the typical emerging country only 50 percent urbanized, as compared with 85 percent in the typical developed country. In emerging countries, urbanization increases household income as much as three times from its level in rural areas. As people move into the cities, they also climb the social and economic ladder into the middle class. With the cycles swirling around us for the next several years and the force of revolution reshaping our world, emerging markets are in the best position to come booming out the other side. That’s why investors and businesses should be investing more in emerging countries when this crash likely sees its worst, by early 2020. My research is unique when it comes to projecting urbanization, GDP per capita gains from it, and demographic workforce growth trends and peaks in emerging countries. It’s not what I’m most known for, but it’s the most strategic factor in the next global boom, which emerging countries will dominate. As a general guideline, those in South and Southeast Asia, from the Philippines to India and Pakistan, have strong demographic growth, urbanization trends, and productivity gains ahead. This is not the case for China, though. Latin America has mostly strong demographic growth, but limited continued urbanization and productivity gains. Much of the Middle East and Africa have not joined the democratic-capitalism party, but those regions otherwise have the most extreme urbanization and demographic potential. One day they’ll be the best places to invest, but not yet.
Harry S. Dent (Zero Hour: Turn the Greatest Political and Financial Upheaval in Modern History to Your Advantage)
The American sociologist Barrington Moore proposed a longer-term explanation for the emergence of military dictatorship in Japan. Seeking the ultimate roots of dictatorship and democracy in different routes toward the capitalist transformation of agriculture, Moore noted that Britain allowed an independent rural gentry to enclose its estates and expel from the countryside “surplus” labor who were then “free” to work in its precocious industries. British democracy could rest upon a stable, conservative countryside and a large urban middle class fed by upwardly mobile labor. Germany and Japan, by contrast, industrialized rapidly and late while maintaining unchanged a traditional landlord-peasant agriculture. Thereafter they were obliged to hold in check all at once fractious workers, squeezed petty bourgeois, and peasants, either by force or by manipulation. This conflict-ridden social system, moreover, provided only limited markets for its own products. Both Germany and Japan dealt with these challenges by combining internal repression with external expansion, aided by the slogans and rituals of a right-wing ideology that sounded radical without really challenging the social order. To Barrington Moore’s long-term analysis of lopsided modernization, one could add further short-term twentieth-century similarities between the German and Japanese situations: the vividness of the perception of a threat from the Soviet Union (Russia had made territorial claims against Japan since the Japanese victory of 1905), and the necessity to adapt traditional political and social hierarchies rapidly to mass politics. Imperial Japan was even more successful than Nazi Germany in using modern methods of mobilization and propaganda to integrate its population under traditional authority. Moore’s perceived similarities between German and Japanese development patterns and social structures have not been fully convincing to Japan specialists. Agrarian landlords cannot be shown to have played a major role in giving imperial Japan its peculiar mix of expansionism and social control. And if imperial Japanese techniques of integration were very successful, it was mostly because Japanese society was so coherent and its family structure so powerful. Imperial Japan, finally, despite undoubted influence from European fascism and despite some structural analogies to Germany and Italy, faced less critical problems than those two countries. The Japanese faced no imminent revolutionary threat, and needed to overcome neither external defeat nor internal disintegration (though they feared it, and resented Western obstacles to their expansion in Asia). Though the imperial regime used techniques of mass mobilization, no official party or autonomous grassroots movement competed with the leaders. The Japanese empire of the period 1932–45 is better understood as an expansionist military dictatorship with a high degree of state-sponsored mobilization than as a fascist regime.
Robert O. Paxton (The Anatomy of Fascism)
food prices in Japan are 60 per cent higher than world market prices, and the price of rice is a multiple of the world price. A sense of the extremity of the situation is given by the fact that a single apple in Japan can cost USD5. On my trip from Tokyo to Niigata, I bought apples in convenience stores in Tokyo and Chichibu for USD4 and USD3 respectively, although I balked at paying USD10 for ten strawberries.123 You know that something is wrong when a few strawberries cost what Japan’s lowest-paid temporary workers now make in an hour.
Joe Studwell (How Asia Works: Success and Failure In the World's Most Dynamic Region)
West Germany, even after absorbing the migrants fleeing East Germany, had yet more jobs to fill, and in the 1960s signed agreements with Greece, Morocco, Portugal, Spain, Tunisia, Turkey, and Yugoslavia whereby they would send “guest” workers to West Germany, on condition they would eventually return. In 1973, foreign workers were one-eighth of the labor force in Germany. France was not far behind, with 2.3 million foreign workers, or 11 percent of the labor force. Many of these were employed for childcare, as cooks, and as custodians.20 England drew immigrants from the Caribbean and South Asia, including those expelled by Idi Amin from East Africa.
Raghuram G. Rajan (The Third Pillar: How Markets and the State Leave the Community Behind)
Without a sharp turnaround toward democracy and equality in the United States, Europe will be virtually alone in its commitment to social democracy. The pressures of low-wage immigrant labor, cheap imports from Eastern Europe and Asia, and free-market practices of governments are already threatening once secure areas of employment and causing right-wing populism to pop up in various Western European countries. Surprising numbers of middle-class and working-class voters have supported ultranationalist, neofascist parties throughout Europe because, like white male workers in the United States, they see their status slipping.
Steve Brouwer (Sharing the Pie : A Citizen's Guide to Wealth and Power)
For businessmen tied to Asian financial capital, the sex industry allows men to broker deals by projecting confidence in the Vietnamese market. For Western men and overseas Viet Kieus, who are largely excluded from the segment of the sex industry linked to business transactions and FDI flows—since the vast majority of FDI into Vietnam comes primarily from Asia—the sex industry serves a different purpose, allowing men to displace their status anxieties onto women’s bodies.
Kimberly Kay Hoang (Dealing in Desire: Asian Ascendancy, Western Decline, and the Hidden Currencies of Global Sex Work)
Every corner of the island was ransacked; every human being that could be found, was slain or carried into captivity. Nothing was to be seen in the once smiling land but heaps of ruins, and a few ghastly inhabitants, wandering in a state of starvation among them. Ninety churches and forty villages were delivered to the flames; twenty-five thousand persons, chiefly full grown men, had been slain; forty-five thousand women and children had been dragged into slavery; and fifteen thousand had escaped into the neighboring islands in the last stage of destitution and misery, where the greater part of them died of grief or starvation. For several months, the markets of Constantinople, Egypt, and Barbary, were so stocked with slaves, that their price fell a half; and purchasers were attracted from the farthest parts of Asia and Africa, whither the Greek captives were scattered.
William Deans (History of the Ottoman Empire)
continue polluting while trying to offset the damage through some face-saving corporate philanthropy exercises. We would be fools to assume that we can simply pay our way out of this mess. Nature cannot be bailed out, as if it were a financial market. We need to stop breaking things in the first place. But for this, we need a new development model. We have designed an economic system that sees no value in any human or natural resource unless it is exploited. A river is unproductive until its catchment is appropriated by some industry or its waters are captured by a dam. An open field and its natural bounty are useless until they are fenced. A community of people have no value unless their life is commercialised, their needs are turned into consumer goods, and their aspirations are driven by competition. In this approach, development equals manipulation. By contrast, we need to understand development as something totally different: development is care. It is through a caring relationship with our natural wealth that we can create value, not through its destruction. It is thanks to a cooperative human-to-human interaction that we can achieve the ultimate objective of development, that is, wellbeing. In this new economy, people will be productive by performing activities that enhance the quality of life of their peers and the natural ecosystems in which they live. If not for moral reasons, they should do so for genuine self-interest: there is nothing more rewarding than creating wellbeing for oneself and society. This is the real utility, the real consumer surplus, not the shortsighted and self-defeating behaviour promoted by the growth ideology. The wellbeing economy is a vision for all countries. There are cultural traces of such a vision in the southern African notion of ‘ubuntu’, which literally means ‘I am because you are’, reminding us that there is no prosperity in isolation and that everything is connected. In Indonesia we find the notion of ‘gotong royong’, a conception of development founded on collaboration and consensus, or the vision of ‘sufficiency economy’ in Thailand, Bhutan and most of Buddhist Asia, which indicates the need for balance, like the Swedish term ‘lagom’, which means ‘just the right amount’. Native Alaskans refer to ‘Nuka’ as the interconnectedness of humans to their ecosystems, while in South America, there has been much debate about the concept of ‘buen vivir’, that is, living well in harmony with others and with nature. The most industrialised nations, which we often describe in dubious terms like ‘wealthy’ or ‘developed’, are at a crossroads. The mess they have created is fast outpacing any other gain, even in terms of education and life expectancy. Their economic growth has come at a huge cost for the rest of the world and the planet as a whole. Not only should they commit to realising a wellbeing economy out of self-interest, but also as a moral obligation to the billions of people who had to suffer wars, environmental destruction and other calamities so that a few, mostly white human beings could go on
Lorenzo Fioramonti (Wellbeing Economy: Success in a World Without Growth)
The Netherlands grew rich on the back of trading, particularly between Asia and Europe. However, the Netherlands had no repeat innovation industry. When its trading markets were saturated and as its trading institutions rigidified, there was nowhere new to go. The Netherlands could not repeat its first success. Like Rome, the Netherlands exploited its strategic advantage extremely well but there was no second act.
Edward A. Hudson (Economic Growth: How it works and how it transformed the world)
And, as inflation has fallen, so bonds have rallied in what has been one of the great bond bull markets of modern history. Even more remarkably, despite the spectacular Argentine default – not to mention Russia’s in 1998 – the spreads on emerging market bonds have trended steadily downwards, reaching lows in early 2007 that had not been seen since before the First World War, implying an almost unshakeable confidence in the economic future. Rumours of the death of Mr Bond have clearly proved to be exaggerated. Inflation has come down partly because many of the items we buy, from clothes to computers, have got cheaper as a result of technological innovation and the relocation of production to low-wage economies in Asia. It has also been reduced because of a worldwide transformation in monetary policy, which began with the monetarist-inspired increases in short-term rates implemented by the Bank of England and the Federal Reserve in the late 1970s and early 1980s, and continued with the spread of central bank independence and explicit targets in the 1990s. Just as importantly, as the Argentine case shows, some of the structural drivers of inflation have also weakened. Trade unions have become less powerful. Loss-making state industries have been privatized. But, perhaps most importantly of all, the social constituency with an interest in positive real returns on bonds has grown. In the developed world a rising share of wealth is held in the form of private pension funds and other savings institutions that are required, or at least expected, to hold a high proportion of their assets in the form of government bonds and other fixed income securities. In 2007 a survey of pension funds in eleven major economies revealed that bonds accounted for more than a quarter of their assets, substantially lower than in past decades, but still a substantial share.71 With every passing year, the proportion of the population living off the income from such funds goes up, as the share of retirees increases.
Niall Ferguson (The Ascent of Money: A Financial History of the World)
But instead of U.S. citizens and companies being taxed or U.S. capital markets being obliged to finance the rising federal deficit, foreign economies were obliged to buy the new Treasury bonds being issued. America’s Cold War spending thus became a tax on foreigners. It was their central banks who financed the costs of the war in Southeast Asia.
Michael Hudson (Super Imperialism: The Origin and Fundamentals of U.S. World Dominance)
Henrique Dubugras, the co-founder of Brex, told me he was most excited about companies focused on rebuilding insurance. Mario Schlosser, the co-founder of Oscar Health, pointed to the wealth of opportunities still left to revamp healthcare. Max Mullen, who co-founded Instacart, raved about the future of food; Max Levchin of Affirm and PayPal talked about the importance of “clean water, access to food, climate change, and improvement in education.” For Neha Narkhede of Confluent, it was “the consumerization of the enterprise,” meaning a bottom-up adoption of tools to make enterprise sales happen. Michelle Zatlyn, the co-founder of Cloudflare, was excited about the future of social networks. And on the life science and healthcare side, Arie Belldegrun of Kite Pharma was excited about cell therapy, while Nat Turner of Flatiron Health was keen on the application of data in “neurology, neurodegenerative disease, and cardiovascular diseases.” The most interesting response came from Tony Fadell, the co-founder of Nest. “I think it’s more important to look at the markets than spaces and industries,” he told me. Beyond Silicon Valley, big changes are happening in India, in Southeast Asia, and across Latin America. “These places are going through massive transitions, just like China has already. You need to pay attention to these new markets and see what unique problems you can solve for these markets. You always need to think in the context of the problems of the place you’re going after.
Ali Tamaseb (Super Founders: What Data Reveals About Billion-Dollar Startups)
Established Sino-Burmese businessmen continue to remain at the helm of Myanmar's economy, where the Chinese minority have been transformed almost overnight into a garishly distinctive prosperous business community. Much of the foreign investment capital into the Burmese economy has been from Mainland Chinese investors and channeled through Burmese Chinese business networks for new startup businesses or foreign acquisitions. Many members of the Burmese Chinese business community act as agents for Mainland and overseas Chinese investors outside of Myanmar. In 1988, the State Law and Order Restoration Council (SLORC) came to power, and gradually loosened the government's role in the economy, encouraging private sector growth and foreign investment. This liberalization of state's role in the economy, if slight and uneven, nonetheless gave Burmese Chinese-led businesses extra space to expand and reassert their economic clout. Today, virtually all of Myanmar's retail, wholesale and shipping firms are in Chinese hands. For example, Sein Gayha, a major Burmese retailer that began in Yangon's Chinatown in 1985, is owned by a Burmese Hakka family. Moreover, ethnic Chinese control the nations four of the five largest commercial banks, Myanmar Universal Bank, Yoma Bank, Myanmar Mayflower Bank, and the Asia Wealth Bank. Today, Myanmar's ethnic Chinese community are now at the forefront of opening up the country's economy, especially towards Mainland China as an international overseas Chinese economic outpost. The Chinese government has been very proactive in engaging with the overseas Chinese diaspora and using China's soft power to help the Burmese Chinese community stay close to their roots in order to foster business ties.[9] Much of the foreign investment from Mainland China now entering Myanmar is being channeled through overseas Chinese bamboo networks. Many members of the Burmese Chinese business community often act as agents for expatriate and overseas Chinese investors outside of Myanmar.
Wikipedia: Chinese people in Myanmar
That brings to mind Paul Polman, CEO of Unilever, who surprised me when we were both members of a panel at the World Economic Forum in Davos, Switzerland. He took that opportunity to announce that Unilever had adopted the goal of cutting the company’s environmental footprint in half by 2020 (this was in 2010, giving it a decade to get there). That was laudable, but a little ho-hum: many socially responsible companies announce global warming goals like that.8 But the next thing he said really shocked me: Unilever is committed to sourcing its raw agriculture material from small farms, aiming to link to half a million smallholders globally.9 The farmers involved mainly grow tea, but the sourcing initiative will also include crops for cocoa, palm oil, vanilla, coconut sugar, and a variety of fruits and vegetables. The farms involved are in areas ranging from Africa to Southeast Asia and Latin America, with some in Indonesia, China, and India. Unilever hopes not only to link these small farmers into their supply chain, but also to work with groups like Rainforest Alliance to help them upgrade their farming practices and so become reliable sources in global markets.10
Daniel Goleman (Focus: The Hidden Driver of Excellence)
The Global Plan’s most impressive feature was its incredible adaptability – successive US administrations amended it every time bits of it came unstuck. Their policies toward Japan are an excellent example: after Mao’s unexpected victory, and the demise of the original plan to turn the Chinese mainland into a huge market for Japanese industrial output, US policy makers responded with a variety of inspired responses. First, they utilized the Korean War, turning it into an excellent opportunity to inject demand into the Japanese industrial sector. Secondly, they used their influence over America’s allies to allow Japanese imports freely into their markets. Thirdly, and most surprisingly, Washington decided to turn America’s own market into Japan’s vital space. Indeed, the penetration of Japanese imports (cars, electronic goods, even services) into the US market would have been impossible without a nod and a wink from Washington’s policy makers. Fourthly, the successor to the Korean War, the war in Vietnam, was also enlisted to boost Japanese industry further. A useful by-product of that murderous escapade was the industrialization of South East Asia, which further strengthened Japan by providing it, at long last, with the missing link – a commercial vital zone in close proximity.
Yanis Varoufakis (The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy)
We have increased our population to the level of 7 billion and beyond. We are well on our way toward 9 billion before our growth trend is likely to flatten. We live at high densities in many cities. We have penetrated, and we continue to penetrate, the last great forests and other wild ecosystems of the planet, disrupting the physical structures and the ecological communities of such places. We cut our way through the Congo. We cut our way through the Amazon. We cut our way through Borneo. We cut our way through Madagascar. We cut our way through New Guinea and northeastern Australia. We shake the trees, figuratively and literally, and things fall out. We kill and butcher and eat many of the wild animals found there. We settle in those places, creating villages, work camps, towns, extractive industries, new cities. We bring in our domesticated animals, replacing the wild herbivores with livestock. We multiply our livestock as we've multiplied ourselves, operating huge factory-scale operations involving thousands of cattle, pigs, chickens, ducks, sheep, and goats, not to mention hundreds of bamboo rats and palm civets, all confined en masse within pens and corrals, under conditions that allow those domestics and semidomestics to acquire infectious pathogens from external sources (such as bats roosting over the pig pens), to share those infections with one another, and to provide abundant opportunities for the pathogens to evolve new forms, some of which are capable of infecting a human as well as a cow or a duck. We treat many of those stock animals with prophylactic doses of antibiotics and other drugs, intended not to cure them but to foster their weight gain and maintain their health just sufficiently for profitable sale and slaughter, and in doing that we encourage the evolution of resistant bacteria. We export and import livestock across great distances and at high speeds. We export and import other live animals, especially primates, for medical research. We export and import wild animals as exotic pets. We export and import animal skins, contraband bushmeat, and plants, some of which carry secret microbial passengers. We travel, moving between cities and continents even more quickly than our transported livestock. We stay in hotels where strangers sneeze and vomit. We eat in restaurants where the cook may have butchered a porcupine before working on our scallops. We visit monkey temples in Asia, live markets in India, picturesque villages in South America, dusty archeological sites in New Mexico, dairy towns in the Netherlands, bat caves in East Africa, racetracks in Australia – breathing the air, feeding the animals, touching things, shaking hands with the friendly locals – and then we jump on our planes and fly home. We get bitten by mosquitoes and ticks. We alter the global climate with our carbon emissions, which may in turn alter the latitudinal ranges within which those mosquitoes and ticks live. We provide an irresistible opportunity for enterprising microbes by the ubiquity and abundance of our human bodies. Everything I’ve just mentioned is encompassed within this rubric: the ecology and evolutionary biology of zoonotic diseases. Ecological circumstance provides opportunity for spillover. Evolution seizes opportunity, explores possibilities, and helps convert spillovers to pandemics.
David Quammen (Spillover: Animal Infections and the Next Human Pandemic)
Por lo que respecta a las ventas y el marketing, si diriges una gran empresa en Europa o Estados Unidos, tú y tus empleados tenéis que entender que el mercado mundial del futuro crecerá principalmente en Asia y África.
Hans Rosling (Factfulness: Diez razones por las que estamos equivocados sobre el mundo. Y por qué las cosas están mejor de lo que piensas (Spanish Edition))
Europe’s total banking and trading revenues, $98 billion in 2005, have nearly pulled equal to U.S. revenues of $109 billion. In 2001, 57 percent of high-value IPOs occurred on American stock exchanges; in 2005, just 16 percent did. In 2006, the United States hosted barely a third of the number of total IPOs it did in 2001, while European exchanges expanded their IPO volume by 30 percent, and in Asia (minus Japan) volume doubled. IPOs are important because they generate “substantial recurring revenues for the host market” and contribute to perceptions of market vibrancy.
Fareed Zakaria (The Post-American World)
The market for NAND, the other main type of memory chip, is also Asia-centric. Samsung, the biggest
Chris Miller (Chip War: The Fight for the World's Most Critical Technology)
with the discoveries and exploitation of new markets in the Americas and Asia, the Ottoman economy started to decline.
Billy Wellman (The Ottoman Empire: An Enthralling Guide to One of the Mightiest and Longest-Lasting Dynasties in World History (Europe))
Holland was already a flourishing mercantile state: Amsterdam had a commodities market; the Dutch East India Company was pushing the Portuguese out of the Asia market; the Dutch dominated the slave trade; and their builders owned most of Europe’s trading ships.16 Most trade, however, was in bulky products of relatively low value—grain, timber, iron, and
Edward Kritzler (Jewish Pirates of the Caribbean: How a Generation of Swashbuckling Jews Carved Out an Empire in the New World in Their Quest for Treasure, Religious Freedom and Revenge)
But while the league’s official competition focused on its key markets in Asia, where the popularity of English soccer remains unrivaled, others trained their sights in the opposite direction toward a land of opportunity, a sports-crazy country where fans had disposable income to burn and six TVs in every home. All they had to do was convince America that soccer wasn’t the enemy.
Joshua Robinson (The Club: How the English Premier League Became the Wildest, Richest, Most Disruptive Force in Sports)
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Masia Trade
Most Asian companies rely on their cost and speed advantages, and so have not developed strong marketing skills. Therefore, although in Asia foreign firms may be competing with similar products and targeting the same customer groups, their superior marketing approach can give them an enormous competitive edge when it comes to winning customers.
Michael Backman (Big in Asia: 25 Strategies for Business Success)
There is no such thing as an Asian market. There is not even a singular Chinese market. The degree of adaptation will depend on your product and where in Asia you hope to sell it.
Michael Backman (Big in Asia: 25 Strategies for Business Success)
I’m staying in a wretched little flat in Bela Vista, the same seaside cluster of buildings where people took their one-way vacations twenty years ago. Rent one of these apartments for the weekend, enjoy one last sunset, drink a few beers, and then burn charcoal in one of the rooms. This form of suicide is one of Asia’s worst clichés, much like jumping from a high window or a slow death from drink. Even the reasons can sound trite if you’re not the one enduring them: a crash in the property market, so much homework you only get three hours of sleep a night, parents unwilling to settle for anything less than Oxbridge and a doctorate.
Jason Y. Ng (Hong Kong Noir)
Western companies tend to list on the stock market so that they can raise funds to expand. But the situation is often quite different in Asia. Listings all too frequently are little more than exit strategies, as founding families seek to off-load assets that no longer perform well and that they no longer want. 'What is profitable is mine, but what is not is yours' is the guiding principle of many a majority shareholder in Asia.
Michael Backman (Big in Asia: 25 Strategies for Business Success)
The problem for Rome was that its gold and silver reserves were finite; while the products that the Romans sought in eastern markets were renewable resources for the regimes that controlled production.
Raoul McLaughlin (The Roman Empire and the Silk Routes: The Ancient World Economy & the Empires of Parthia, Central Asia & Han China)
This is because, if China could establish hegemony over Asia, it could then set up a commercial and trading bloc anchored in the world's largest market that would privilege its own and subordinates' economies while disfavoring America's. The resulting drain on American businesses, large and small, would be most keenly felt by the workers, families, and communities who rely on those businesses for jobs, goods, services, and the other benefits that come with a vibrant economy. The steady erosion of America's economic power would ultimately weaken the nation's social vitality and stability. -- This kind of disfavoring is hardly a theoretical concern; China today appears to be seeking to shape the economic map in just this way. Nor is it especially unusual; this sort of policy has a powerful appeal and internal logic and is a regular feature of how aspiring and established hegemons behave. Essentially every aspiring hegemon in history has sought or planned to establish an economic system favoring itself, in order to enrich itself, sustain its predominance, and exclude or disfavor potential competitors.
Elbridge A. Colby (The Strategy of Denial: American Defense in an Age of Great Power Conflict)
Centuries ago, when Karl Marx wrote exhaustively about the callous exploitation of workers by the capitalist class, he may not have imagined how in South Asia, women as brides would be treated as commodities, pitilessly exploited, and violently murdered in their own homes by their abusive husbands for extorting wealth. As the ruthless oppression of the toiling masses could not be prevented by laws or policies, the merciless torture and murder of women could not be regulated despite establishing a legal mechanism in place. Over the decades, predatory capitalism has irrevocably acquired an altered form, and the free-market approach has devised a new mechanism of manipulation. Similarly, the viciousness of the neoliberal forces, clubbed with patriarchy, feudalism, conservatism, rampant materialism, and excessive consumption propelled by extensive consumerism, is aggravating the desire among men and their families to accumulate quick wealth using marriage as a tool to extract resources from women and their families. The bourgeoisie-proletariat categorization, in the situation of dowry practice, is expanded to include the classification of savagely privileged men versus women – rich or poor, and in urban or rural areas. Women from all backgrounds dreadfully suffer for the material gains of men and their families in a harsh and hostile environment fuelled by the neoliberal, Brahmanical capitalist patriarchy.
Shalu Nigam
From the farmer who plants on one acre to the companies who produce on hundreds of hectares knows Massey Ferguson by their hearts, it has been people’s first tractor and from their first unit, which was manufactured to the last, one till today it has a lion’s share in the farming industry. They have plants all over the world through which they manufacture their models and cater to the local market according to the buying powe
Agro Asia Tractors
over that summer of 2014, the Arab Gulf producers began to pick up disconcerting signals from the market. For some unknown reason, they could not sell all their oil in Asia. — The signals, though not easily read at the time, pointed to the momentous change in the world oil market and the global economy. For this was the time when the BRIC era was giving way to the shale era. The most dynamic developments in the global oil industry were no longer on the demand side, in emerging market countries, but rather now on the supply side, in the heartland of American oil.
Daniel Yergin (The New Map: Energy, Climate, and the Clash of Nations)
Take the mad cow “threat” for example: Over a decade of hype, it only killed people (in the highest estimates) in the hundreds as compared to car accidents (several hundred thousands!)—except that the journalistic description of the latter would not be commercially fruitful. (Note that the risk of dying from food poisoning or in a car accident on the way to a restaurant is greater than dying from mad cow disease.) This sensationalism can divert empathy toward wrong causes: cancer and malnutrition being the ones that suffer the most from the lack of such attention. Malnutrition in Africa and Southeast Asia no longer causes the emotional impact—so it literally dropped out of the picture. In that sense the mental probabilistic map in one’s mind is so geared toward the sensational that one would realize informational gains by dispensing with the news.
Nassim Nicholas Taleb (Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto Book 1))
Ocean, the future center of global trade. Why should it not prosper? Nobody can predict the future with 100 percent certainty. I’m not convinced it will happen. But I am a possibilist and these facts convince me: it is possible. The destiny instinct makes it difficult for us to accept that Africa can catch up with the West. Africa’s progress, if it is noticed at all, is seen as an improbable stroke of good fortune, a temporary break from its impoverished and war-torn destiny. The same destiny instinct also seems to make us take continuing Western progress for granted, with the West’s current economic stagnation portrayed as a temporary accident from which it will soon recover. For years after the global crash of 2008, the International Monetary Fund continued to forecast 3 percent annual economic growth for countries on Level 4. Each year, for five years, countries on Level 4 failed to meet this forecast. Each year, for five years, the IMF said, “Next year it will get back on track.” Finally, the IMF realized that there was no “normal” to go back to, and it downgraded its future growth expectations to 2 percent. At the same time the IMF acknowledged that the fast growth (above 5 percent) during those years had instead happened in countries on Level 2, like Ghana, Nigeria, Ethiopia, and Kenya in Africa, and Bangladesh in Asia. Why does this matter? One reason is this: the IMF forecasters’ worldview had a strong influence on where your retirement funds were invested. Countries in Europe and North America were expected to experience fast and reliable growth, which made them attractive to investors. When these forecasts turned out to be wrong, and when these countries did not in fact grow fast, the retirement funds did not grow either. Supposedly low-risk/high-return countries turned out to be high-risk/low-return countries. And at the same time African countries with great growth potential were being starved of investment. Another reason it matters, if you work for a company based in the old “West,” is that you are probably missing opportunities in the largest expansion of the middle-income consumer market in history, which is taking place right now in Africa and Asia. Other, local brands are already establishing a foothold, gaining brand recognition, and spreading throughout these continents, while you are still waking up to what is going on. The Western consumer market was just a teaser for what is coming next.
Hans Rosling (Factfulness: Ten Reasons We're Wrong About the World—and Why Things Are Better Than You Think)
I do not bother with oversea holdings, nor am I concerned about asset or sector allocation - I am focused on particular stocks. Let me explain my reasons. If you're a manager of large institutional funds you'll usually aim for X% in the USA, Y% in South East Asia, Z% in Europe, etc., and similarly a certain percentage in banks and financial stocks, another in media, and yet another in healthcare, etc., and this is the right approach. But I believe that the private investor should forget about all this for their more modestly sized portfolios. I like UK-headquartered and quoted businesses which operate internationally anyway as they seek world markets for their products or services.
John Lee (How to Make a Million – Slowly: Guiding Principles from a Lifetime of Investing (Financial Times Series))
The brutal tectonics of neoliberal globalization since 1978 are analogous to the catastrophic processes that shaped a “Third World” in the first place, during the era of late-Victorian imperialism (1870–1900). At the end of the nineteenth century, the forcible incorporation into the world market of the great subsistence peasantries of Asia and Africa entailed the famine deaths of millions and the uprooting of tens of millions more from traditional tenures. The end result (in Latin America as well) was rural “semi-proletarianization,” the creation of a huge global class of immiserated semi-peasants and farm laborers lacking existential security of subsistence. As a result, the twentieth century became an age not of urban revolutions, as classical Marxism had imagined, but of epochal rural uprisings and peasant-based wars of national liberation.
Mike Davis (Planet of Slums)
The U.S. wants to reverse its declining share of chip fabrication and retain its dominant position in semiconductor design and machinery. Countries in Europe and Asia, however, would like to grab a bigger share of the high-value chip design market. Taiwan and South Korea, meanwhile, have no plans to surrender their market-leading positions fabricating advanced logic and memory chips. With China viewing expansion of its own fabrication capacity as a national security necessity, there’s a limited amount of future chip fabrication business that can be shared between the U.S., Europe, and Asia. If the U.S. wants to increase its market share, some other country’s market share must decrease. The U.S. is implicitly hoping to grab market share from one of the other areas with modern chipmaking facilities. Yet outside China, all the world’s advanced chip fabs are in countries that are U.S. allies or close friends.
Chris Miller (Chip War: The Fight for the World's Most Critical Technology)
Financial Times commentator Martin Wolf concluded in 2010: "We already know that the earthquake of the past few years has damaged Western economies, while leaving those of emerging countries, particularly Asia, standing. It has also destroyed Western prestige. The West has dominated the world economically and intellectually for at least two centuries. That epoch is now over. Hitherto, the rulers of emerging countries disliked the West's pretensions, but respected its competence. This is true no longer. Never again will the West have the sole word." I was reminded of the Asian financial crisis in 1997. When Asian economies were devastated by similarly foolish borrowing the West – including the International Monetary Fund and World Bank – prescribed bitter medicine. They extolled traditional free market principles: Asia should raise interest rates to support sagging currencies, while state spending, debt, subsidies should be cut drastically. Banks and companies in trouble should be left to fail, there should be no bail-outs. South Korea, Thailand, Indonesia were pressured into swallowing the bitter medicine. President Suharto paid the ultimate price: he was forced to resign. Anger against the IMF was widespread. I was in Los Angeles for a seminar organised by the Claremont McKenna College to discuss, among other things, the Asian crisis. The Thai speaker resorted to profanity: F-- the IMF, he screamed. The Asian press was blamed by some Western academics. If we had the kind of press freedoms the West enjoyed, we could have flagged the danger before the crisis hit. Western credibility was torn to shreds when the financial tsunami struck Wall Street. Shamelessly abandoning the policy prescriptions they imposed on Asia, they decided their banks and companies like General Motors were too big to fail. How many Asian countries could have been spared severe pain if they had ignored the IMF? How vain was their criticism of the Asian press, for the almost unfettered press freedoms the West enjoyed had failed to prevent catastrophe.
Cheong Yip Seng (OB Markers: My Straits Times Story)
Cedar Capital Group Tokyo: Construction Site Health & Safety Review Accidents on construction sites are becoming a much more regular occurrence around the globe and can have devastating affects on families, communities and regions. Just recently we witnessed the destruction and heartbreak caused when the crawler crane toppled over onto the Masjid al-Haram, the Grand Mosque in Mecca, Saudi Arabia on 11 September 2015, which killed 118 people and injured a further 394. The majority of accidents on construction sites can be avoided if health and safety requirements are followed. An experienced health & safety advisor can assist you in identifying loss control techniques which in turn minimizes the risk to members of the public, your property and your employees. One of the most frequently occurring accidents construction sites is fire. Ignoring safety policies and procedures can have a disastrous effect and are a common cause of injury on a construction site. Fire extinguishers should be available and close by and you should appoint an employee to be on fire watch. The weather can be a source of accidents on construction sites. Sites become more susceptible as severe weather patterns continue to grow across the globe. In Asia, typhoons have become more frequent, we have seen buildings collapse during high category storms. These types of accidents can be avoided by appointing someone with the responsibility of monitoring the weather to make sure that the construction site is correctly braced before the typhoon arrives. The lack of site is another key factor that causes accidents. Construction sites are like playgrounds for inquisitive children looking for something to do so it’s imperative that you have secured the site with adequate fencing. Posting visible safety signs around the construction site in order to remind and protect the employees, visitors and members of the genera public. Always post safety signs at the entrance and ensure that all visitors wear the correct personal protective equipmentwhich includes a hard hat and safety boots. Cedar Capital Group are a Singapore based, capital equipment, company that leases construction equipment throughout Asia with core markets in Seoul, South Korea and Tokyo, Japan.
Alana Barnet
feces. If a wild bird infects a chicken on a poultry farm, the virus may get opportunities to interact with a range of additional viruses through close contact with pigs and other animals. This is indeed what has happened in the live animal markets and backyard farms of China and southern Asia. Influenza viruses are notorious for their ability to change, through a combination of mutation and “reassortment”—a borrowing of genes from other viruses. An open farm acts like a virus convention, where different strains swap genetic material like conventioneers swap business cards.
Scientific American (The Influenza Threat: Pandemic in the Making)
Castro’s revolution, with all of its supposedly good intentions, put a stop to the growth of Havana. Of course it put an end to the Mafia controlling the casinos and entertainment, but for them it was a minor setback. They just packed their bags and went to Las Vegas where they expanded and developed “The Strip!” Batista and his followers fled Cuba for the Dominican Republic, Europe and South Florida. Many Cubans lost everything they had but others fled taking their wealth with them. The upheaval in 1959 marked the beginning of austerity for this former freewheeling city. The communistic de-privatization of all businesses, along with the embargo imposed by the United States, created a serious decline in Havana’s economy. The constant pressure to nationalize, as well as the severe crackdown by the régime to keep people in line, curtailed growth and placed an enormous hardship on the Cuban people. Since the Castro Revolution, the people of Havana have been severely affected, because of the absence of commerce with its former trading partner, the United States, located only 90 miles to the north. In all Havana has taken a severe toll economically, with its dilapidated houses, and the pre-1959 cars on the streets of the city being a testimony to the bygone era. It is only now that with the hope of normalization between the governments of Cuba and the United States that perhaps the people will benefit. For the greatest part, the Port of Havana has also been bypassed, chiefly due to the restrictions placed on them by the United States. However, the Cuban government is now attempting a comeback by attracting tourism from Canada, Mexico, the Bahamas, Latin America, Asia and Europe. The city of Havana has renovated the Sierra Maestra Cruise Port, but only very few cruise companies consider Havana a port of call. Slowly, German and British ships started to arrive, including the Fred Olsen Cruises and Carnival Cruise Line. Technically Real Estate Brokers and Automobile Dealers are illegal in Cuba, although real-estate offices and car dealerships are blatantly open for business. The buying and selling of real estate and cars, which was forbidden for many years, can now be done because of some changes brought about by Raúl Castro, but only by full-time residents of Cuba. However, gray market sales are thriving through the use of friends and family as proxies.
Hank Bracker
It seems no one is guaranteed a job anywhere anymore. These are troubled times for workers. The creeping sense that no one’s job is safe, even as the companies they work for are thriving, means the spread of fear, apprehension, and confusion. One sign of this growing unease: An American headhunting firm reported that more than half of callers making inquiries about jobs were still employed—but were so fearful of losing those jobs that they had already started to look for another.5 The day that AT&T began notifying the first of forty thousand workers to be laid off—in a year when its profits were a record $4.7 billion—a poll reported that a third of Americans feared that someone in their household would soon lose a job. Such fears persist at a time when the American economy is creating more jobs than it is losing. The churning of jobs—what economists euphemistically call “labor market flexibility”—is now a troubling fact of work life. And it is part of a global tidal wave sweeping through all the leading economies of the developed world, whether in Europe, Asia, or the Americas. Prosperity is no guarantee of jobs; layoffs continue even amidst a booming economy. This paradox, as Paul Krugman, an MIT economist, puts it, is “the unfortunate price we have to pay for having as dynamic an economy as we do.”6 There is now a palpable bleakness about the new landscape of work. “We work in what amounts to a quiet war zone” is the way one midlevel executive at a multinational firm put it to me. “There’s no way to give your loyalty to a company and expect it to be returned anymore. So each person is becoming their own little shop within the company—you have to be able to be part of a team, but also ready to move on and be self-sufficient.” For many older workers—children of the meritocracy, who were taught that education and technical skills were a permanent ticket to success—this new way of thinking may come as a shock. People are beginning to realize that success takes more than intellectual excellence or technical prowess, and that we need another sort of skill just to survive—and certainly to thrive—in the increasingly turbulent job market of the future. Internal qualities such as resilience, initiative, optimism, and adaptability are taking on a new valuation. A
Daniel Goleman (Working With Emotional Intelligence)
But by the late twentieth century, with more Americans going to college, making more money, and, thanks to more affordable airfares, traveling to Europe and Asia, the market for art was expanding, as were the number of artists.18 A growing educated middle class had the money to support the ballooning number of galleries. David Brooks had noticed the blending of bohemian and bourgeois—or “bobo”—sensibilities in 2000.19 Gentrified neighborhoods are the urban habitus of the bobo, and art galleries are about as good a signifier of gentrification as wine and coffee bars. In fact, many wine and coffee bars in gentrified areas are art galleries where a revolving cast of local artists display their work. By the mid-2000s, “a new kind of ambition was taking hold,” writes Ann Fensterstock of Williamsburg in Art on the Block, a history of the turn-of-the-millennium New York art scene. There was “a thirst for critical attention in the wider, increasingly international art world. The notion of producing art for profit was no longer anathema.
Kay S. Hymowitz (The New Brooklyn: What It Takes to Bring a City Back)
In sales and marketing, if you run a big business in Europe or the United States, you and your employees need to understand that the world market of the future will be growing primarily in Asia and Africa, not at home.
Hans Rosling (Factfulness: Ten Reasons We're Wrong About the World—and Why Things Are Better Than You Think)
This book should never have happened. If it wasn’t for the most bizarre and twisted sequence of events involving a diverse array of people it wouldn’t have. Let us explain. If someone we, the authors, had wanted to impress - a publisher, say, or a book reviewer - had asked us how it had emerged, we could have come up with all kinds of things to establish our credentials for writing it. But they would have been only a small part of the story of how it came about, and not the interesting bit either. The truth is much more human and fascinating - and it also gets to the heart of the book and shows how networks really work. Greg has always been fascinated by ‘network theory’ - the findings of sociologists, mathematicians and physicists, which seemed to translate to the real world of links between people. Early in his professional life at Auto Trader magazine in Canada he got to see an extraordinary network of buyers and sellers in operation. Later, when he became a venture capitalist - someone who invests in new or young companies, hoping that some of them will become very valuable - he applied what he’d learned. He invested in businesses that could benefit from the way networks behave, and this approach yielded some notable successes. Richard came from a different slant. For twenty years, he was a ‘strategy consultant’, using economic analysis to help firms become more profitable than their rivals. He ended up co-founding LEK, the fastest-growing ‘strategy boutique’ of the 1980s, with offices in the US, Europe and Asia. He also wrote books on business strategy, and in particular championed the ‘star business’ idea, which stated that the most valuable venture was nearly always a ‘star’, defined as the biggest firm in a high-growth market. In the 1990s and 2000s, Richard successfully invested the money he had made as a management consultant in a series of star ventures. He also read everything available about networks, feeling intuitively that they were another reason for business success, and might also help explain why some people’s careers took off while equally intelligent and qualified people often languished. So, there were good reasons why Greg and Richard might want to write a book together about networks. But the problem with all such ‘formal’ explanations is that they ignore the human events and coincidences that took place before that book could ever see the light of day. The most
Richard Koch (Superconnect: How the Best Connections in Business and Life Are the Ones You Least Expect)
I think the biggest impacts on marketing for Australia in the future will be the ability to understand and meet the needs of Asian consumers
Peter Hanami (Getting into Advertising, Marketing and Selling Australia)
Japanese students when compared to other countries students clearly stand out as highly desirable long-term students. Their high level of literacy, visa access, motivation to study, scholastic ability, and value as alumni make them a sort after student market in Asia
Peter Hanami (Buyer Behaviour of Japanese Students in Australia)
Roskind and Bill Koch heard from clients that there was very strong demand in East Asia for a chemical called acetic acid, which was in tight supply. The companies that made acetic acid were aware of the supply crunch, and they were not about to let go of their product easily. This made it almost impossible to buy acetic acid at a price that would make it profitable to turn around and sell it in Asia. But a good trader knows what is happening simultaneously in different markets. Bill Koch knew that the companies that made acetic acid often used corn as a feedstock for the product. Bill Koch also knew how to get corn at a cheap price on the futures market in Chicago. So Koch Trading bought corn on the futures market and bartered it with acetic acid manufacturers for large quantities of their product. Then they sold the acetic acid at a much higher price in Asia. Roskind said he made $1 million off that single trade.
Christopher Leonard (Kochland: The Secret History of Koch Industries and Corporate Power in America)
The deals were too specialized for open exchanges, and they were often done one-on-one, confidentially, over the phone. Bill Koch was largely responsible for getting Koch Industries into the chemical trading business. It was a business that would become an integral part of the company. Bill came across chemical trading shortly after he graduated from MIT. He was living in Boston and looking for new companies that Koch Industries could buy with the massive amounts of cash the company was generating. In his search for new investments, Bill Koch stumbled across a chemical trader named Herbert Roskind, who ran what was basically a one-man chemical trading firm called Monocel. As a trader, Roskind was one of the few middlemen in the global market for industrial chemicals. He sold barges full of sulfur made in Louisiana to factories in Asia that needed it as an ingredient in their manufacturing plants. Roskind spent much of his day in an office in suburban Boston, working the phones to call contacts in Europe or Singapore or Houston, finding people who wanted to buy and sell giant quantities of things like chlorine, caustic soda, polyethylene, and polyvinyl chloride.
Christopher Leonard (Kochland: The Secret History of Koch Industries and Corporate Power in America)
Plucking a flower with my fingers, I brought it close to my nose. Like pomegranate seeds and spices, its fragrance was overpowering. I smelled sweet success as I closed my eyes and immersed myself in its scent. This was the essence of the Fleur de Rosalind Collection, which was launched to acclaimed success in the Asia Pacific market.
Wan Phing Lim (Two Figures in a Car and Other Stories)
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best market research companies in Myanmar
This table only counts physical health effects due to disruptions that took place in the Illusion of Control phase. It considers both short-run and long-run effects. Each of the claimed effects is based on a published study about that effect. First on the list is the disruption to vaccination programs for measles, diphtheria, cholera, and polio, which were either cancelled or reduced in scope in some 70 countries. That disruption was caused by travel restrictions. Western experts could not travel, and within many poor countries travel and general activity were also halted in the early days of the Illusion of Control phase. This depressive effect on vaccination programs for the poor is expected to lead to large loss of life in the coming years. The poor countries paying this cost are most countries in Africa, the poorer nations in Asia, such as India, Indonesia and Myanmar, and the poorer countries in Latin America. The second listed effect in the table relates to schooling. An estimated 90% of the world’s children have had their schooling disrupted, often for months, which reduces their lifetime opportunities and social development through numerous direct and indirect pathways. The UN children’s organisation, UNICEF, has released several reports on just how bad the consequences of this will be in the coming decades.116 The third element in Joffe’s table refers to reports of economic and social primitivisation in poor countries. Primitivisation, also seen after the collapse of the Soviet Union in the early 1990s, is just what it sounds like: a regression away from specialisation, trade and economic advancement through markets to more isolated and ‘primitive’ choices, including attempted economic self-sufficiency and higher fertility. Due to diminished labour market prospects, curtailed educational activities and decreased access to reproductive health services, populations in the Illusion of Control phase began reverting to having more children precisely in those countries where there is already huge pressure on resources. The fourth and fifth elements listed in the table reflect the biggest disaster of this period, namely the increase in extreme poverty and expected famines in poor countries. Over the 20 years leading up to 2020, gradual improvements in economic conditions around the world had significantly eased poverty and famines. Now, international organisations are signalling rapid deterioration in both. The Food and Agriculture Organisation (FAO) now expects the world to have approximately an additional 100 million extremely poor people facing starvation as a result of Covid policies. That will translate into civil wars, waves of refugees and huge loss of life. The last two items in Joffe’s table relate to the effect of lower perinatal and infant care and impoverishment. Millions of preventable deaths are now expected due to infections and weakness in new mothers and young infants, and neglect of other health problems like malaria and tuberculosis that affect people in all walks of life. The whole of the poor world has suffered fewer than one million deaths from Covid. The price to be paid in human losses in these countries through hunger and health neglect caused by lockdowns and other restrictions is much, much larger. All in the name of stopping Covid.
Paul Frijters (The Great Covid Panic: What Happened, Why, and What To Do Next)