Global News Journal
Beyond the World news headlines
Far from being lauded as a virtue, China's high savings rate has been blamed for the economic imbalances underlying the global financial crisis. The criticism being that the Chinese spend too little and rely too much on exporting to Western consumers.
But in their intriguingly named paper, 'A Sexually Unbalanced Model of Current Account Imbalances', New York-based researchers Du Qingyuan and Wei Shang-Jin suggest China's gender imbalance could also be a significant factor in the persistence of its high savings rate.
The pair argue that intensifying competition in the Chinese marriage market is causing men -- or indeed parents with sons -- to raise their savings rates to improve their relative allure among a shrinking pool of potential brides.
In a country like Spain, where a large majority still identify themselves as at least more-or-less Catholic, you'd think the government would shy away from taking on the Roman Catholic Church. In fact, there are probably few things Spanish Prime Minister Jose Luis Rodriguez Zapatero likes better than a brawl with the bishops.
Lingering anti-clerical sentiment in sectors of Zapatero's Socialist Party, particularly on its left-most fringes, means the PM has few more effective tools for rallying his voters than the sight of a protest march led by priests and nuns.
By C. Bryson Hull
Sri Lanka’s army has the Tamil Tigers on the run with a string of convincing military victories. Many people are asking if one of Asia’s longest-running civil wars is near its end after 25 years.
The U.S. Democratic Party has gained a larger following over the past two decades but America's ideological landscape has remained largely unchanged over the past two decades, according to a new report by the Pew Research Center for the People & the Press. You can see the analysis here.
What is of interest for readers of this blog may be the implications of this "cultural trench warfare" -- with neither side gaining much ground from the other -- for red-hot social issues such as abortion rights and the future prospects for both the Republicans and the Democrats.
Each side accuses the other of trying to scare voters ahead of Ireland’s referendum on the EU treaty on Thursday.
“No” groups have campaigned on issues ranging from abortion and euthanasia to taxation and Ireland’s military neutrality. They also say new decision-making mechanisms mean small states will lose influence and get trampled by the EU’s heavyweights.
The government’s response is to accuse treaty opponents of scaremongering by campaigning on emotive and extraneous issues that will not be affected by the treaty.
In some cases neutral voices are inclined to agree, with the Catholic archbishop of Dublin and referendum commission weighing in to say there is nothing in the treaty that threatens Ireland’s strict abortion and euthanasia laws.
The government warns of “dire consequences” for Ireland’s economy and diplomatic clout if a nation that has gained so much from EU support and subsidies is ungrateful enough to reject the treaty.
The “No” camp accuses the government of bullying, blackmail and exaggeration. Indeed a number of economists say that while a “Yes” vote would be best for future prosperity, rejection of the treaty is unlikely to have any severe repercussions.
So who is the biggest bully in the playground? Or is it just an inevitable flaw in referendums that they become a lightning rod for irrelevant issues and for politicians who don’t trust us to be able to debate the question we’re being asked?