By Jonathan Adelman – The United States is the world leader and likely to remain there for decades. It has the greatest soft power in the world by far. The United States still receives far more immigrants each year (1 million) than any other country in the world. The United States leads the world in high technology (Silicon Valley), finance and business (Wall Street), the movies (Hollywood) and higher education (17 of the top 20 universities in the world in Shanghai’s Jaotong University survey). The United States has a First World trade profile (massive exports of consumer and technology goods and imports of natural resources).
Right now, there is no one on the horizon that will overtake or even seriously challenge the United States, however ailing, for at least the next decade or two. more> http://tinyurl.com/lnlzv3v
Posted in Business, EARTH WATCH, Economy, Education, Energy, History, Leadership, Technology
Tagged China, First World, Hollywood, Industrial economy, Middle East, Organization, Shanghai, Silicon Valley, United States, Wall Street
By Stephen Mihm – Like so much having to do with China’s economy, this environmental degradation seems unprecedented. It isn’t.
One of the defining features of industrial revolutions past and present is the shift to fossil fuels such as coal, particularly in urban centers. Much like contemporary China, England became an economic powerhouse by relying on cheap coal to power its factories as well as to heat and illuminate the cities that would become crucibles of industrial capitalism: Manchester, Birmingham and above all, London.
Some creatures even adapted to the changed environment. The peppered moth, for example, which was white with gray flecks, evolved via a process that scientists dubbed “industrial melanism.” By the 1890s, almost 98 percent of the moths had switched colors. more> http://tinyurl.com/o4upumt
Posted in Business, EARTH WATCH, Economic development, Economy, Energy & emissions, Nature, Science, Technology
Tagged Business, Capitalism, China, Climate change, England, Health, London, Melanism, Peppered moth, Technology
CBC News – London is now ahead of any other financial center in the race to become an important hub for yuan trading, after the Chinese central bank granted London-based institutional investors a quota of 80 billion yuan ($12.7 billion) to invest in Chinese stocks.
Osborne said China’s state-owned banks will be allowed to expand their operations in Britain by setting up wholesale branches.
Britain and China signed an agreement in June to have their central banks swap 200 billion yuan for £20 billion ($32 billion), giving U.K. financial institutions more access to large amounts of yuan than had been available in the past outside of China. more> http://tinyurl.com/mv3gt9m
Posted in Banking, Business, Economic development, Economy, Education, Leadership
Tagged Britain, Business improvement, Capital, Central bank, China, Finance, Government, Leadership, London, Monetary policy
By Lawrence White and Michael Flaherty – A U.S. banking regulator’s probe into JPMorgan’s hiring practices in China will have rival banks scrambling to review their own records, lawyers say, in a market where ties to political and business leaders can be key to winning big deals.
“If JPMorgan put the person down in their books as a legitimate hire, and then it turns out that the person is there just to get certain connections, then anything you pay can be considered a bribe,” said the China-based lawyer, who was not authorized to speak publicly about the issue. more> http://tinyurl.com/mb582ox
Posted in Banking, Business, Economy, Leadership
Tagged Banking in the People's Republic of China, Business, Capital, China, Hong Kong, Industrial economy, JPMorgan Chase, U.S. Securities and Exchange Commission, United States