The Great Debate UK

from The Great Debate:

Only Generation Lockdown can resolve America’s gun debate

On the website of the Nationwide Children's Hospital in Columbus there is a statistic worth knowing if you live in Ohio. About 1,100 residents of the Buckeye State lose their lives at the trigger of a firearm every year. That includes homicides, accidental shootings and suicides.

It's also a number that you'd think would be worth knowing if you represented the great state of Ohio in Congress. Yet until April it was not a figure that rolled off the tongue of Senator Rob Portman. Far more astonishing than Portman's ignorance of the number of his constituents killed by guns every year are the circumstances in which this gap in his education was filled. Portman didn't hear it from the hospital, a newspaper or cable news. He learned it from a 13-year-old boy named James Barden.

James had come to Washington with his mother and father and other grieving parents four months after his freckle-faced brother Daniel (who would be eight years old on Friday) was massacred in his first-grade classroom at Sandy Hook Elementary School, along with 19 of his classmates and six dedicated educators. These families had come to implore senators to support a bipartisan bill to ensure all gun sales are accompanied by a simple background check.

During the meeting, one of dozens that the Sandy Hook parents held ahead of the April 17 defeat of the legislation, James informed Portman about how many Ohioans are killed every year by bullets. Then, he asked, "Do you think that this legislation could save just a few of those lives?" Portman bowed his head. Tears welled up in his eyes. "Yes, it probably could," he replied. A couple of days later, Portman voted against the bill.

How central bankers have got it wrong

If you asked someone to list the chief qualities needed to be a good central banker I assume that the list may include: good communicator, wise, attention to detail, clear thinking, credibility, and good with numbers.  However, in recent months these qualities have been sadly lacking, most notably last week when the Federal Reserve wrong-footed the markets and failed to start tapering its enormous QE programme.

The market had expected asset purchases to be tapered because: 1, Ben Bernanke had dropped fairly big hints at his June press conference that tapering was likely to take place sooner rather than later and 2, because the unemployment rate has consistently declined all year and if it continues moving in this direction then it could hit the Fed’s 6.5% target rate in the coming months.

from The Great Debate:

The minister who dreams of a reindustrialized France

The body of Jean-Baptiste Colbert, Louis XIV’s wily finance minister, is encased in a marble tomb in the Church of Saint Eustache in central Paris. But if you believe Arnaud Montebourg, the enfant terrible of French politics, his spirit is still very much alive, 330 years after his death, and about to spark a new, digital-age industrial revolution in France.

Montebourg, 50, an ardent opponent of globalization, has for the past 15 months served as the nation’s “Minister of Productive Renewal,” in charge of industry, a post that -- in theory -- gives him leeway to implement some of his more radical ideas. He spells them out in a book published on Sept.18, “The Battle for Made in France.” Invoking Colbert’s grandiose interventionist approach, it is a strident call for industry to be protected and nurtured. Among other things, Montebourg insists that the outsourcing trend of the past decade needs to be reversed; he dreams of the day when televisions, textiles and toys will once again be made in France, as the nation recaptures its manufacturing glory.

from The Great Debate:

Why Fellini’s films speak to the pope

La Strada may be almost 60 years old, but Federico Fellini's masterpiece is in the news. In an interview published late last week, Pope Francis called La Strada his favorite film.

Some might have expected a more church-friendly movie, like Roberto Rossellini's Rome, Open City -- which Fellini co-wrote -- about a priest helping the Italian Resistance fight Nazi occupiers during World War Two. While he also mentions it, the pontiff's favorite choice crystallizes his embrace of the fallible and the marginalized.

Swift action needed to curb tapering impact on emerging markets

–Shaukat Aziz is the former prime minister of Pakistan. The opinions expressed are his own.–

Emerging markets have seen increasing economic uncertainty in recent months, due to a slowing down in quantitative easing (QE) and a reduction in economic activity. Several countries have experienced rising current account deficits, reducing capital flows, declining foreign reserves and depreciating currency values. Brazil, India, Indonesia, South Africa and Turkey have all seen their currencies drop by more than 10% this year.

from The Great Debate:

China’s commitment to growth will drive the global economy

From outside China, the Bo Xilai trial looks like the Chinese news event of the year, one of the preoccupations of Western media, along with corporate corruption and the clampdown on American and European companies. Yet these issues are no more than sideshows to the most important economic event of recent times, the unveiling and ratification of a major program for reforms for the next decade, which will occur at the Chinese government’s third plenum in November. The reforms promise to bring another great leap forward in China's dramatic ascent.

Chinese officials will reveal how long China will need to make the transition from an investment-led, middle-income country to an innovative, consumer-driven, high-income one -- and thus when it will become the world's largest economy. Can China circumvent what we know as "the middle-income trap" that has for decades denied high-income status for Latin America and Asian countries like Malaysia and Thailand?

UK recovery, but not on the high street

It was only a few days ago that George Osborne declared victory on economic malaise saying that the UK economy has turned a corner. The economic data has improved dramatically in the last six months, which gave Osborne a battering ram to launch a political attack on the Labour Party. Osborne used his moment in the sun to prove Ed Balls and all on the other side of the political bench wrong, saying that his austerity programme is right for Britain.

However, a little over 24 hours after Osborne’s speech a report from the Local Data Company made for uncomfortable reading as it detailed grim conditions on the UK’s high streets. High Street vacancy rates remain stubbornly high; out of 650 town centres in the UK the average vacancy rate is 14.1 percent, which is basically unchanged since February.

from The Great Debate:

A potential turning point for Syria

In the dizzying debate over U.S. military intervention in Syria, one key point of consensus stands out: Both the Obama administration and Congress recognize that the resolution to Syria’s conflict must come through a negotiated settlement. Key international actors share the same conclusion.

But how do we get there? Russia’s recent proposal to put Syrian chemical weapons under international control could open a viable path to a long-sought diplomatic solution.

The digital divide and inspiring young people into science

By Dr Juha Ylä-Jääski, President and CEO, Technology Academy Finland

– The opinions expressed are the author’s own –

Don’t let them be the lost generation.

The young have borne the brunt of the current economic malaise afflicting Europe and much of the developed world, with chronic levels of unemployment and gloomy prospects. At the same time, many are equipped or have the potential to be equipped with the digital skills that can transform our economies through innovation, qualities that their elders often struggle with.

We are failing to grasp this opportunity, however, with demand for tech skills outpacing the ability of educators to provide for it, opening a digital divide that is holding back our economies and our young people.

from The Great Debate:

Is the intelligence on Syria different this time?

The long shadow of the faulty, hyped intelligence in the run-up to the war in Iraq has posed a huge barrier to President Barack Obama's efforts to win public and congressional support for a limited missile strike against Syria.

Remember the "mushroom cloud?" Both President George W. Bush and Condoleezza Rice, his national security adviser, used that terrifying phrase, invoking images of a nuclear holocaust, to push America along the road to war.

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