The Great Debate UK

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.

Montebourg’s political fortunes hit a low point in December 2012 when he threatened to resign after being overruled in a very public clash with the London-based steel magnate Lakshmi Mittal. President François Hollande personally asked him to reconsider, and today, he seems to be back in favor.

On Sept. 12, Montebourg and Hollande stood shoulder to shoulder at the Elysée Palace to announce a new direction for French industrial policy. A video made for the occasion starts with a solemn pledge that “France is reinventing itself.” With Vivaldi music swelling in the background, images of great inventors and inventions of the past give way to more forward-looking activities, such as medical biotechnology and cloud computing. These are some of the 34 sectors Montebourg and his team have singled out, with the help of McKinsey and Co, as the standard bearers of French industry of tomorrow.

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

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–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

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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

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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.

from John Lloyd:

Why democracy is an insufficient force against WMD

The British parliament’s refusal to countenance military intervention in Syria, and President Barack Obama’s decision to delay a strike until Congress approves it, point to a larger, even more dangerous contradiction of the mass destruction age.

That is, parliamentary democracy and weapons of mass destruction (WMD) sit ill together. Each confounds the other’s natural working.

from The Great Debate:

The politics of Syria

Congressional Democrats are in a bind. If they vote to authorize a military strike on Syria, they could be putting the country on a slippery slope to war. But if they vote no, they will deliver a crushing defeat to their president.

What President Barack Obama did was call their bluff. Last week, more than 50 House Democrats signed a letter urging the president to “seek an affirmative decision of Congress” before committing to any military engagement. That was the Democrats' way of going on record to express reservations about what Obama sounded like he was going to do anyway. Then, lo and behold, the president decided to do exactly what they asked. Now it's their decision.

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