The Socialists, the main opposition, said on Friday they would back special measures to impose central rule on the region to thwart the secessionist-minded Catalan government and end a crisis that has unsettled the euro and hurt confidence in the euro zone’s fourth-largest economy.
Prime Minister Mariano Rajoy, who wants opposition support to be able to present a united front in the crisis, has called an emergency cabinet meeting on Saturday to pave the way for Madrid establishing central control in the region.
US President Donald Trump’s administration understands the central importance of China to any strategy to rein in North Korea’s nuclear ambitions.
But, so far, the US has relied on threats, such as halting $650 billion in bilateral trade, to persuade China to cooperate. This is not a stick, but a boomerang – one that will hit China and immediately return to smack the US.
Even worse, a report by Thomson Reuters last year named Samsung, Huawei, LG, State Grid Corp. of China, ZTE, Qualcomm, Ericsson, Sony, NTT and Fujitsu as the top 10 global innovators in the telecommunications industry for 2015. No mention again of an Indian telco.
Speaking on Wednesday, less than a month before President Donald Trump is due to make his first state visit to China, Tillerson said the United States had begun to discuss creating alternatives to Chinese infrastructure financing in Asia.
In another comment likely to upset Beijing, he said Washington saw room to invite others, including Australia, to join U.S.-India-Japan security cooperation, something Beijing has opposed as an attempt by democracies to gang up on it.
“The United States seeks constructive relations with China, but we will not shrink from China’s challenges to the rules-based order and where China subverts the sovereignty of neighboring countries and disadvantages the U.S. and our friends,” Tillerson told the Center for Strategic and International Studies think tank.
Undeterred by such failures, these economic models remain entrenched in academia and political institutions. Worse, policies like food stamps, minimum wages, government training and workforce programs, and government spending are at least partly advocated to boost growth, when in fact they accomplish the opposite.
The truth is that work and value-adding production make an economy prosper, and eliminating disincentives to doing so, such as high taxation and regulatory burdens, stimulates growth. But until we discard the idea that demand is the driver of economic performance, our policies will continue to do more harm than good.
“The cluster concept is often used to consider local factors,” Valeria Giacomin says, “but there’s a growing awareness that many clusters are also driven by external forces, such as foreign direct investment and multinational corporations, which results in a connection that occurs through knowledge exchange on the local level or across wider cluster networks.”
In that sense, she says, clusters become platforms for development, which has present-day implications for corporations, governments, and individual actors, especially in emerging economies.
“Bitcoin was designed to operate outside of the influence of governments and central banks, and is doing exactly that,” said Iqbal Gandham, Managing Director at retail trading app eToro, which has seen huge increases in cryptocurrency trading volumes.
The data point for the U.S., indeed, fits the White House narrative: During that period, the U.S. lost manufacturing jobs while its trade balance deteriorated (as all other countries in the lower left panel).
However, that is not the story for most countries. In fact, Mexico increased its share of workers in manufacturing even though its trade balance also deteriorated during that same period.
But most, importantly, most countries—in the lower right panel of the figure—lost jobs in manufacturing even if their trade balance improved.
In short, the White House is trying to sell a fallacy that the trade deficit has destroyed American jobs.