Japan Exposure, Second Society, 40 Success Stories, China Boxed, Immigration Truths, Lucky Qaddafi, Top 200, Dancing 70s
Now we have entered a new phase in the disaster in Japan.
First, after five days of hell, there have been over 200 aftershocks, the cracks in social cohension are beginning to show.
The government has asked people not to panic buy food and water, but the shelves have emptied.
Second, the Prime Minister started finger pointing with the company responsible for the Fukushima nuclear power plant in the firing line.
Third, all three of the Fukushima's nuclear power plant have suffered an explosion, a fouth building that caught fire housed spent fuel rods.
Finally, global markets are taking risk of the table as equity prices fall.
Also the social force behind the Arab spring, the importance of cross border development assistance, a critique of the likelihood of China's growth shift, dispelling myths about immigration, a dictator gets a break, the top 200 universities, and dance in New York in the seventies.
FT – Japan’s Nuclear Crisis Deepens
Japan appears to be losing control of its nuclear crisis after a fresh explosion at an atomic plant north of Tokyo released more radiation into the air, prompting the prime minister to appeal for calm and accelerating a big sell-off of Japanese shares.
Uber-Japan strategist Peter Tasker on why he would be buying Japanese equities right now. (ed’s note – we would wait until the all clear signal from the nuclear power plant issue, but we take his point)
FT – Japan Will Re-Emerge From Devastating Tragedy
The earthquake that struck Japan on Friday with such devastating human cost was powerful enough to shift the earth on its axis and move the Japanese land mass six feet.
A different view. Selling JGBs to raise cash.
FT – Japan’s Megabank Bond Tremors
This is not your typical Japanese government bond post.
Australia’s exposure to Japan’s economic shock.
TD Economics have done an excellent summary of economic impact of Japan’s earthquake/tsunami disaster. (ed’s note – nuclear issue still a wildcard)
Key points - directly affected area is 8% of Japan’s economy, rebuilding will add to economic growth lifting real GDP for 2012 from 1.6% to 2.0%, the financial impact of the natural disaster is limited to Japanese equities, the fiscal cost of rebuilding will not create a sovereign debt problem for Japan, and the near-term weakness in Japan will have a limited impact on the world economy, or the economies of Canada and the United States.
Pdf below -- Economic Impact of Japan's Natural Disaster
Economist – Stoicism Amid the Debris
AMONG THE the panoply of disasters that has besieged Japan since Friday’s earthquake and tsunami it appears that the risks of a serious nuclear accident may be rising again.
Historically related, Tokyo 1923.
Economist – The Great Kanto Earthquake
WORDS very inadequately express the emotions aroused by such a tragedy as that which has occurred this week in Japan.
NYT – In Deadly Earthquake, Echoes of 1923
The earthquake hit in the early afternoon off the coast of Honshu, Japan’s most populous island, triggering unprecedented destruction.
And the good news? Flights between Japan and the West Coast will be shorter.
NYT – Quake Moves Japan Closer to the US and Alters Earth’s Spin
The magnitude-8.9 earthquake that struck northern Japan on Friday not only violently shook the ground and generated a devastating tsunami, it also moved the coastline and changed the balance of the planet.
Explaining the Arab spring: a large demographic bulge of young people, a surge in higher education, a communication revolution, and the rise in non-governmental institutions. Thanks to Robin of Victoria for sending this in.
INSEAD -- Arab youths, revolutions, and the rise of the ‘second society’
The sudden and rapid change that has swept across the Arab world over the recent few months has taken the world by surprise.
Quote worth quoting.
“Today’s movement is different: its very plurality could render it invulnerable to being hijacked by any particular interest group. It is the dawn of a new power base not only in the Arab world, but in the world as a whole.”
NATO Review – What Social Media Can Do, and What It Can’t Do
Does social media make change easier?
There is much debate about the correct role of the state not only within its borders but outside. Here is important evidence of the positive impact that countries can have across borders ‘international public goods’ in an area that will increase in importance in the next two decades, agriculture. Thanks to Gordon of Montpellier for sending this in.
Pdf below – 40 Findings on the Impacts of CGIAR Research 1971-2011
Much as been made, rightly, that the shock of the Japan disaster to its state finances will be muted by the fact that Japan self-finances its government debt. This is decidedly not the case for the United States. (ed's note – recent leveling off is due to Fed purchases).
Merk Funds – US Government: Evermore Reliant on Foreign Investors
Despite the Fed recently surpassing China as the largest owner of U.S. government debt, the U.S. remains heavily reliant on foreigners to fund the government’s ongoing fiscal largess.
One of the most common assumptions about the Chinese economy is that the secular shift from savings-investment-exports to borrowing-consumption-imports will be smooth and easy. No it won’t.
FT – China Must Bridge the Growth Gap
While inflation dominated the news about last week’s National People’s Congress, a more interesting story may be the contentious internal debate about rebalancing Chinese growth from investment to consumption.
Pdf below -- What A Hard Landing in China Would Mean for Canada
Research for Canada’s Excellent Future is leading us to the conclusion that designing public policy that will double Canada’s population to 60 million by 2050 could be positively game changing for the country. At the centre of such a policy is maintaining or even elevating current immigration levels.
A constant criticism of immigration is that there aren’t enough jobs to go around, and that immigrants reduce wages. Both have been proven to be untrue, particularly for countries like Canada that have high education thresholds that a core number of immigrants must pass.
The reasons are simple.
First, more people means more jobs because of the impact on demand for housing, transportation, food, and other services. The argument that immigration ‘takes jobs away’ misunderstands how an economy works.
Second, the more skilled the immigrant force the more productive and diversified the economy becomes. Immigration properly designed will increase productivity and is the lifeblood of a successful economy.
Pdf below -- Immigration and Wages
Pdf below -- Jobs Americans Won't Do
And a dictator catches a break.
NYT – As Diplomacy Falters, Qaddafi Forces Launch Major Assault
Using tanks, heavy artillery and airstrikes, forces loyal to Col. Muammar el-Qaddafi began a sustained assault here on Tuesday, seeking to rout a ragtag army of insurgents and would-be revolutionaries holding the last defensive line before the rebel capital of Benghazi.
The top 200 universities in the world, will Canadian excellence depend on getting one in the top 10? Thanks to Charlie of Toronto for sending this in.
Times Higher Education – Top 200
University of Toronto (17), University of British Columbia (30), McGill (37), McMaster (93), University of Alberta (127), University of Montreal (138), Dalhousie (193), Simon Fraser (199).
In the 1970s New York was falling apart, a city spoken about in the past tense. So how come that decade and that city created a time of dance creativity whose reverberations we can still feel today? Cheap rent helped. (ed’s note – no different that Berlin in the late 1920s).
City Journal – Dancing the Body Electric
New York City in the seventies was its own circle of hell.
Our friend in Tokyo Jeremy Scofield’s most recent blog.
jeremyscofield.ca – Earthquake in Tokyo: A Few Days Later
It is March 15th, and I am sitting here in a Starbucks sipping an iced tea and listening to music.
|Economic Impact of Japan's Natural Disaster.pdf||576.96 KB|
|40 Findings on the Impacts of CGIAR Research 1971-2011.pdf||85.62 KB|
|What A Hard Landing in China Would Mean for Canada.pdf||169.04 KB|
|Immigration and Wages.pdf||697.95 KB|
|Jobs Americans Won't Do.pdf||526 KB|
|Add your opinion||Rate this story||Share||Subscribe|
Login using social networks
Twin Virtues: Inequality of Outcomes & Equality of Opportunity©
LimeSpot: Own Your Experience.