Tuesday, February 07, 2012
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Of superpowers and the small boat S'pore
IN AN interview on CNN's 'Fareed Zakaria GPS', Prime Minister Lee Hsien Loong talks about US overtures in Asia, China's economic growth and military profile, and how Singapore addresses inequality. Here are excerpts from the interview: ON CHINA'S ROUGH LANDING MR FAREED ZAKARIA: One of the great concerns people have, looking out this year, is that the Chinese economy is going to slow down ... that in order to get out of the financial crisis, the government overspent, over-lent, and that these excesses are now going to begin some kind of a tough...
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Expect China to shape the next Bretton-Woods pact
by Philip Coggan
When the world economy heads into crisis, the international currency system often breaks down. This occurs either because debtors can't meet their obligations, or because creditors fear they are not being repaid in sound money. The first condition exists today...
Get to the social root of the problem
by James Clemence and Margaret Duong
As he prepares to deliver the 2012 Budget on Feb 17, the Finance Minister is in an unenviable position. The global economy has not rebounded with the vigour hoped for 12 months ago. It appears the road to recovery may be longer, and perhaps steeper, than many...
Facebook is using you
by Lori Andrews
Last week, Facebook filed documents with the United States government that will allow it to sell shares of stock to the public. It is estimated to be worth at least US$75 billion (S$93.2 billion). But unlike other big-ticket corporations, it doesn't have an...
The trials of a reluctant superpower
by David Pilling
In 1793 the Emperor Qianlong airily dismissed the emissary of King George III on the grounds that China was the self-sufficient centre of the world and had no conceivable need of imports. Modern China should be so lucky. As well as foreign technology, Beijing now requires foreign oil, foreign copper, foreign iron ore and heaps of other foreign commodities to...
Parking charges make no Budget sense
by
Conrad Raj
The apparent lack of planning foresight has put yet another dent on our reputation for efficiency. This time, we find out that there are inadequate car park lots at the Budget Terminal in Changi. This has led to exorbitant charges for overnight parking. For...
Just how much are credit raters paid?
by Jonathan Weil
So many times when the big credit-rating companies have embarrassed themselves, the world has sighed and chalked it up to a business model that, by design, invites corruption and incompetence. Perhaps never before have the public's expectations for the industry been lower. The fundamental flaw is that the major rating companies, led by Moody's Investors...
What Harvard owes its top Asian-American applicants
by Stephen Hsu
It is a common belief among Asian-American families that their children are held to higher academic standards than college applicants from other ethnic groups. Such practices were openly acknowledged after investigations at universities like Berkeley and Stanford in the 1980s and 1990s. Have they been corrected? The United States Education Department is...
Fierce financial management for the Year of the Dragon
by Brian McGrory
The Chinese New Year brings a few superstitions with it. For one, people start cleaning up their homes prior to the New Year's eve to rid themselves of any lingering bad luck from last year and to get ready to welcome the brand new year. One good thing is that...
A new page opens at Facebook
by April Dembosky
Before lifting his head from his pillow in the morning, Sam Van Dellen reaches for his smartphone, opens Facebook and scrolls through the news headlines and personal updates his friends have posted. ''Yay! Oatmeal,'' reads one wake-up message from a friend. It...
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