Global News Journal

Beyond the World news headlines

from MacroScope:

Sssh. Don’t say stimulus

William Safire, the language maven whose musings on how we use words have graced The New York Times and other newspapers for decades, has discovered something about the current crisis. Not for the first time, politicians are scrambling to avoid using common words that might get too close to the truth.

This time the target is the economy, specifically what needs to be done about it. In a column, Safire notes that some Democrats, notably the incoming White House chief of staff Rahm Emanuel, are steering away from using the world "stimulus" when referring to efforts to, er, stimulate the economy. "Recovery" is being used instead. As in, recovery plan.

Who could argue with that? Republicans, apparently. According to Safire, they are favouring "spending", presumably as in spend, spend, tax, tax etc.

 Let's think up some more. How about the "defibrillation" plan?

Shenzhen: Gateway to China’s roaring economy

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By Nick Macfie

I first arrived in Hong Kong in 1982 and stayed, on and off,  for 14 years. One of the most exciting day trips for tourists to the British colony back in those days was to the border, by clattering, non-air-conditioned train and then a short taxi drive to a vantage point, close to the fancy Fanling Golf Club, where you could look across the paddy fields at the stange goings-on in Communist China.

Old Hakka women in their broad-rimmed hats would pester you to buy postcards and Mao badges as you peered by telescope at what was once the tiny fishing village of Shenzhen to watch the villagers in their Mao suits go about their business — leading ducks down narrow paths between the rice fields, or carting vegetables on baskets hung over shoulders on bouncing, bamboo poles. Hong Kong farmers were doing the same thing in the New Territories, but this was fascinating, Communist China!

from Pakistan: Now or Never?:

“Plan C” – Pakistan turns to the IMF.

Pakistan has agreed with the International Monetary Fund (IMF) on a $7.6 billion emergency loan to stave off a balance of payments crisis. 

Shaukat Tarin, economic adviser to the prime minister, said the IMF had endorsed Pakistan's own strategy to bring about structural adjustments. The agreement is expected to encourage other potential donors, who are gathering in Abu Dhabi on Monday for a "Friends of Pakistan" conference.

from Africa News blog:

Should developing world have more say in crisis talks?

When world leaders meet in Washington to tackle the global financial crisis, Africa will be represented only by South Africa.

 

African officials meeting in Tunis this week to discuss the impact of the crisis argued that the continent needed better representation, given the effects that the turmoil is having in Africa as well as the continent’s growing financial importance. The complaint could apply equally to other developing countries.

“Deja vu all over again” in struggling Hungary?

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Hungary has negotiated a $25 billion economic rescue package with the IMF, the EU and the World Bank. What else is new? As that non-Hungarian philosopher of gamesmanship Yogi Berra put it, it’s ”like déjà vu all over again”.  

 

Consider the words of historian Paul Lendvai who wrote: ”Its economy in tatters, Hungary accepts a loan of 250 million gold crowns.” “Fiscal stability was restored, a currency reform was introduced…and after a modest upswing the value of industrial production stood 12 percent higher…”

Is Africa run better than before?

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“People look at headlines from two or three countries and forget there are 55 countries in Africa and in most of them life is normal.”

That is what Mo Ibrahim, a Sudanese-born telecoms entrepreneur and one of Africa’s best known business leaders, told Reuters at the launch of the 2008 Index of African Governance by his foundation.

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