Angela Merkel refuses to levy tariffs of 47% on Chinese solar panel imports because she fears damaging China-Germany relations and being shut out of its market. However, in Ray Kwong’s view, Berlin is too dependent on China’s economic engine, which could crack anytime due to territorial conflicts, too-rapid expansion of credit, lax environmental oversight, widening discontent among the population and many other legitimate problems.
VALENCIA | By Lucía Sapiña | Recent research has reopened the ethical debate on the limits of science and the mostly feared possibility of human cloning.
A new dispute among EU members has arisen. This time is not an austerian versus keynesian brawl but a shall-we-punish-Chinese-dumping one. Next week the Commission will decide whether to impose big tariffs to the $27 billion worth of solar panels that China sells to Europe each year. In this battle over how to respond to Beijing trade practices, will domestic interests prevail?
By Ray Kwong | Broad strokes, when you’re talking about the 21st century possibly becoming the Asian Century, one thing becomes crystal clear: it’s not preordained and it’s not just all about China. With its varied cultures and emphasis on education, self-reliance and upward mobility, Asia may overtake the West as the world’s economic engine.
NEW YORK | By Ana Fuentes | The last huge tornado in Oklahoma could cost as much as 2 billion dollars. The center of the state has been devastated, 24 people dead, around 13,000 homes destroyed, cars and schools totally ruined. The final bill for the State, the regional government and private insurers is going to be one of the highest in US history.
BARCELONA | By Jordi Gual, economist | The euro area’s double dip recession is due to inopportune management of the sovereign debt crisis and slow advances towards European integration.
WASHINGTON | By Pablo Pardo | Robert Skidelsky: “There are technical economists in finance that had told us again and again that 2008-like ‘accidents’ were simply impossible. What connections do they have to the investment industry?”
China turns into a urban nation. A transformation that entails a dramatic achievement and a challenge without precedents in the world. As cities become better places to live they become more expensive too, to the extent that people can’t afford the luxury of inhabiting these mega-cities. Without a fairer model, which fosters job creation and an equal access to resources, urbanization risks undermining the country’s transition towards domestic consumption.
NEW YORK | As the country plunges into recession, the government proposal on a France culture tax as high as 1% on the sale of smartphones, tablets and other Internet devices is seen with skepticism the United States. Paris claims it would support to create digital cultural content inside France and counterbalance foreign content invasion. Protectionism or a smart move in times of crisis?
BEIJING | By Caixin Magazine | Global opinion on China economic prospects appears to have soured of late. Credit ratings agency Fitch downgraded the country’s long-term local-currency rating from AA– to A+ last month, followed by Moody’s lowering the country’s credit outlook from “positive” to “stable.” Are market bears right? For many, this means Beijing must put reform back on its agenda.