Category Archives: Foreign Policy

Patiently Watching India’s Rise

I started off the morning at a breakfast forum titled "Are You Ready for Asia," and the discussion was promising and highly optimistic about global business opportunities in the region. India is still growing at a 7.50-percent rate (with some individual states at 10 percent) and China is cooling off at 8 percent. One panelist pledged that India will spend $1 trillion on infrastructure in the next 6-8 years. When the issue of the mulitbrand retail rollout and abrupt pull-back was raised to a prominent Indian business leader, he confidently predicted that this proposal (allowing retail companies like WalMart to enter into the market) would be re-visited and subsequently passed in six months. While this would be great news, it underscores the lessons of practicing patience, doing your political due diligence, and realizing the volatility in the environment for these major transactions.
Posted on January 26, 2012 By Tim Roemer
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The World’s “Big Economic Headache”

One of the keynote speakers, Dr. Angela Merkel, spoke to the attendees at Davos with a message sprinkled with stark realism regarding the difficult challenges facing Europeans yet encouraging them to reach for "new methods" to build for a more prosperous future. She asked Europe to learn lessons from the current crisis and help define what their role will be in shaping the future of the world. While Europe currently comprises about 7 percent of the world's population and 20 percent of the GDP, it is probably perceived as the " big economic headache" for the world economy right now, she lamented to the crowd.
Posted on January 25, 2012 By Tim Roemer
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Can Italy Derail the U.S. Recovery?

As the United States sees its unemployment rate drop from 9.5 percent to 8.5 percent having created approximately 1.6 million part- and full-time jobs in 2011, a slow but steady growth path seems to open up for 2012 with a forecast of 2.5-3 percent growth for the country as well as for the global economy. Its exorbitant indebtedness would have been deadly if investors were not considering the United States as the strongest credit in the world, and clearly continue to purchase U.S. Treasuries at record low interest rates. With China and India still expected to grow by 8 and 6 percent respectively, the threat should not come from emerging markets.
Posted on January 10, 2012 By Virtual Vantage Points
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Obama, Medvedev, Hu Jintao Headline Final Day at APEC

The APEC CEO Summit came to a close yesterday after a very full final day. Highlights included remarks by President Obama, Chinese President Hu Jintao and Russian President Medvedev. The plenaries concluded with a 4-minute video of the 3-day summit, a vivid display of the incredible gathering of talent and the lively discussions that took place here. This was followed by the passing of the gavel (literally) from Microsoft’s Craig Mundie, chair of the U.S. APEC Host Committee, to his Russian counterpart, the chair of next year’s APEC meetings. The first major event of the day was a speech delivered by President Hu Jintao. President Hu, who delivered his remarks in the traditional format, standing at a podium alone on stage, talked about China’s huge market potential and pledged stronger action by his government to crack down on intellectual property rights violations. He also said that China will work hard to turn itself into an innovation-driven country and transition from “made in China” to “created in China.” And he stressed green growth as a priority for China’s future economic development.
Posted on November 13, 2011 By Virtual Vantage Points
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Conversations and Negotiations Continue at APEC Summit

A very intense day of activity took place at APEC yesterday, featuring remarks by Hillary Clinton followed by a candid discussion with her, bilats with President Sang of Vietnam, President Humala of Peru, Prime Minister Gillard of Australia, new Commerce Secretary John Bryson, and a host of other events including the signing of the Terms of Reference for the new U.S.-Indonesia Commercial Dialogue. The evening featured the arrival in Honolulu of President Obama, who flew in after watching an NCAA basketball game on the USS Vincent in San Diego (the first-ever staged on the deck of an aircraft carrier), a fitting event for Veterans Day. The day concluded with a “nightcap” conversation on “Realizing APEC’s Economic Growth through Sound Energy Policy,” a discussion that featured, among others, U.S. Undersecretary of State Bob Hormats and Indonesia’s Minister of Trade Gita Wirjawan and drew a big crowd despite the late hour and the long day. Secretary Clinton spoke eloquently about the importance of empowering women and girls. Continuing the theme she spoke about so powerfully at the Women and the Economy Summit in San Francisco, she talked about how important it is to unleash the potential of women, not only to achieve justice and equality and because it is the right thing to do, but also as the best way to grow our economies in the 21st century. Later, during the candid conversation with host Nina Easton of Fortune, in response to the question of what she will do when she finishes this term as secretary of state, Ms. Clinton said she is not focused on what she will do, but on what she won’t do. She pointed out that she is in beautiful Hawaii but has been in closed-door, windowless meeting rooms non-stop since 8 a.m. “There’s got to be a better way to see Hawaii,” she said.
Posted on November 12, 2011 By Virtual Vantage Points
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Syria’s Double Diplomatic Muscle

Harkening back to the grand old days of Sino-Soviet diplomatic chicanery, Moscow and Beijing yesterday jointly vetoed a watered-down United Nations Security Council resolution condemning Syria for its escalating brutality against democracy protestors. With the draft resolution in the diplomatic oven for months as violence throughout Syria escalated, the pitiful display of international indifference to the plight of the Syrian people says a lot about who is on what side of Arabs seeking greater freedom. Memo to the Syrian people: It's Russian-built tanks and military aircraft which are targeting you.
Posted on October 6, 2011 By Marc Ginsberg
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