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Globalization- Weekly Roundup, June 15, 2011
The latest on "the rise of the rest": curbing inflation in India and China, the effort to keep IMF leadership in European hands, business ventures courting Latin American online audiences and Indonesia's globalization vision
There have recently been troublesome indications in some of the world's fastest-growing economies: rising inflation coupled with slowing growth in India and the central bank in China raising the reserve ratio for the 6th time this year to counter its own inflation problems...if there are two stories about it in the New York Times on the same day (the links to which are embedded above) it's probably worth keeping an eye on.
A new development in the race to suceed Dominique Strauss-Kahn as managing director of the IMF has further exemplified the European countries' willingness to try every tool at their disposal to keep management out of the hands of non-Europeans. With the Bank of Israel governor and India's candidate now both removed from the running and the Mexican candidate as a self-described "long-shot candidate" behind the French favorite, it is likely that their efforts will be successful.
Portada, a leading source for Hispanic marketing and advertising news and resources, published an interesting analysis article on whether it makes sense to invest in ventures targeting global Latin American audiences. (Hint: their short answer is yes.) For example, the rationale behind many companies' decisions to invest in such firms:
“the Hispanic and Latin American audience online has gotten to critical mass and continues to grow rapidly. It has substantial buying power but is underserved..."- Greg Sands, Managing Director of Sutter Hill Ventures, 2006
...Spain’s Grupo Prisa’s Paul Westhorpe, Managing Director Global Digital Sales & Strategy, assert[ed] that by 2015 Prisa expects 70% of its digital revenues to come from the U.S Hispanic market and Latin America.
The Jakarta Globe wrote a very blunt article on Monday on why the globalization genie can't be put back in the bottle. Below is the President of Indonesia's statement on how countries should be responding:
...the solution is for business leaders to work with government to drive growth through innovation and push for greater economic openness.
He also expresses a need for Asian governments not to revert to short-term thinking and protectionist policies.
On modernizing policies to keep up with globalization: women's empowerment, ending protectionism, skill-building and worker protection programs
Arnab Chakraborty with India Blooms reports on U.S. Consul General Elizabeth A. Payne's belief that efforts towards women's empowerment are imperative to keep up with globalization and the challenges it brings. Below is an excerpt from the article on the main areas of women's empowerment that she believes must be focused on:
...three prime areas demanding immediate attention as they are necessary requisites for empowering women in all spheres of society, namely – education, economic self-sufficiency and political voice.
Continuing the fight against protectionism: a new statement from India's Minister of Labour and Employment on why labor standards are no excuse for enacting protectionist trade policies (as well as India's plans for instituting programs on skill building and protection for workers)