YOYO-ISG 101128 Tea with the Economist

YOYO-ISG 101128 Tea with the Economist

文章Kooper » 週日 11月 21, 2010 8:03 pm

Please watch one of the two video clips on the web page(http://video.economist.com/?fr_chl=1257fd4a3f457735719f845205531ed840915d9c) and make a summary or essay on it. Both of them are about the US/UK economy.

1. Jeffrey Sachs on solvable problems
2. Michael Spence on the world economy
Kooper
Vice President
 
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Re: YOYO-ISG 101128 Tea with the Economist

文章sophie3333 » 週一 11月 22, 2010 12:41 am

Dear Kooper,
@@ It's hot but difficult issue to me.
Nowaday few strong country in the past 100 years, has deficit(赤字,負債) and social care system slop.

Zz. after few munites of auditing this video clips.
Animal planet is more relaxing.
Sophie3333 :roll:
頭像
sophie3333
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Re: YOYO-ISG 101128 Tea with the Economist

文章Kooper » 週一 11月 22, 2010 3:03 pm

Hi Sophie,

I checked a few video clips but failed to find any one that are both informative and light-hearted. The two were picked simply because I'd run out of my time. I have to admit that they're a bit dry to watch. :?
Kooper
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Re: YOYO-ISG 101128 Tea with the Economist

文章Sherry Liao » 週二 11月 23, 2010 6:04 am

My summary of the second clip: Michael Spence on the world economy

The Nobel laureate Michael Spence said he was fairly glooming about the economic growth in the US. He thought the market and policy makers were too optimistic at predicting the speed of recovery. The world was now facing a “new normal”, and the US would finally found that they actually had a structured competitive problem on economy.

Spence suggested that the government work out together with private sectors including multinational companies to find out the problems and to come up with some solutions. Also, Spence believed that the US should learn from emerging countries, like China, to spend around one third of the GDP on investment. He said the American had to sacrifice, and the government needed to increase tax revenue for investment.

Spence indicated that if the economy in advanced countries was worsened ten years ago, it would have a big impact on emerging countries. But today emerging countries were growing fast and the economy mass was bigger, so they were less influenced by the sluggish economy of Western countries. Moreover, the economic growth empowered people in the countries to consume, which made those countries be able to sustain the high growth. However, he didn’t think the emerging countries would be able to sustain the growth if there was a major downturn or if the advanced countries turned protectionism.

As to the global currency war, Spence believed that undervalue currency was not a growth strategy, and those emerging countries, like China, knew it pretty well. They also realized that labor-intensive manufacturing was in the dying phase. There was going to a structure transformation in those countries, and the appreciation of currency would have effects on some of the structure change. Falling exchange was not what really mattered and it would finally come to a balance.

Lastly, Spence felt pessimistic about the prospect of global economy. He didn’t see a restored and sustained pattern of the economy in advanced countries, and some bad events were adversely affecting the emerging world. He believed the global economy would not go well if the advanced countries’ economic problems remained unsolved.
Sherry Liao
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Re: YOYO-ISG 101128 Tea with the Economist

文章Sherry Liao » 週六 11月 27, 2010 10:48 pm

Dear members,

I am involved in a family activity, so I cannot join the meeting tomorrow morning. Hope you all enjoy the discussion.
Sherry Liao
YOYO member
 
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Re: YOYO-ISG 101128 Tea with the Economist

文章Kooper » 週六 11月 27, 2010 11:27 pm

I'm afraid I won't be able to complete my work before the meeting, so here I post what I have done so far. I'll finish the rest tomorrow after the meeting.


It is not rare in America that an election campaign could be launched as early as two years before the vote date. The result is most of the time there is always a major campaign running somewhere in the country. The prevalence of campaigns has adversely impacted the politics of the United States. Today’s politicians, both Republicans and Democrats, become more short-sighted than their predecessors. Rather than providing visions for future and zeroing in on policies that could lay the foundations for the well-being of the country in the long run, modern American political leaders focus on projects that can make instant improvements, in other words, “shovel-ready” projects. In the interview, the economist Jefferey Sachs questioned the effectiveness of the 2nd stimulus package, saying that today’s economic dilemma results from a decade’s wrong policies and wrong behavior and thus there is no magic bullet for it. He further criticized the 2nd quantitative easing for distracting the government from dealing with problems that are crucial to the country’s medium-term success, such as government’s abysmal fiscal hole, dwindling technical competitiveness and large income inequality.
Kooper
Vice President
 
文章: 2420
註冊時間: 週三 4月 11, 2007 11:40 pm

Re: YOYO-ISG 101128 Tea with the Economist

文章janet12tw » 週日 11月 28, 2010 7:58 am

Jeffrey Sachs is known as the director of the earth institute economy in New York and one of the best economists. He thinks America is facing many problems in the economy now. And we need to make a ten-year plan to solve the problems. First, we have to increase the tax to solve the deficit problem as well as increase the spending to solve the crisis in Afganistan. Second, we should rebuild the infrastrure and invest in the energy system to cope with enviromental threat. Third, the poverty problem in the society needs to be solved. Considering America is regarded as one of the strongest countries in the world, we need to make sure the children from the poorer families are also given a good start and able to receive good education.
janet12tw
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Re: YOYO-ISG 101128 Tea with the Economist

文章Kooper » 週日 11月 28, 2010 10:43 am

Here is my summary of the 1st video clip.


It is not rare in America that an election campaign is launched as early as two years before the vote date. The result is most of the time there is always a major campaign running somewhere in the country. The prevalence of campaigns has already had an adverse impact on the politics of the United States. Today’s politicians, both Republicans and Democrats, are becoming more short-sighted than ever. Rather than providing visions for future and zeroing in on policies that could lay the foundations for the well-being of the country in the long run, modern American political leaders focus on projects that can make instant improvements, in other words, “shovel-ready” projects.

In the interview, the economist Jeffrey Sachs questioned the effectiveness of the 2nd stimulus package, saying that today’s economic dilemma results from a decade’s reckless credit expansion and no magic bullet can solve it. He dismissed the 2nd quantitative easing as a distraction from dealing with problems that are truly crucial to America’s medium-term success, such as the government’s abysmal fiscal hole, dwindling technical competitive edge and large income inequality. These issues, Jeffrey said, will take the US ten years to counteract. His prescription: the government should tighten its belt and raise taxes, like British government did, with an attempt to put the budge deficit under control; meanwhile, they should invest in infrastructure and renewable energy technology to regain the country’s leadership in advanced technologies; education is the best way for the young to break free from poverty. The rate of youngsters getting tertiary education needs to be raised.
Kooper
Vice President
 
文章: 2420
註冊時間: 週三 4月 11, 2007 11:40 pm


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