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The Global Economy in Turbulent Times

Name: The Global Economy in Turbulent Times
Author: See-Yan Lin
ISBN: 9781119059967

by See-Yan Lin

June 2015

Intermediate to advanced

600 pages

27h 11m

English

Wiley

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Royal Prelude
Foreword
Preface
Introduction
About the Book
Acknowledgments
PART I THAT WAS THE WORLD THAT WAS (TW3)
CHAPTER 1 TW3 2008: The Year Free Markets Ran Amok
Annus HorribilisWhat’s in Store for 2009?LessonsWhat, Then, Are We to Do?Notes
CHAPTER 2 2009: “Oxpicious” Year Ahead
Ox YearReassessmentThe Worst Is Yet to ComeWhat, Then, Are We to Do?Notes
CHAPTER 3 Beware of PME in a Jobless 2009 Recovery
Fragile Global RecoveryPME: A Bad IdeaNot to Worry about Inflation and High DebtLesson from the 1930sWhat, Then, Are We to Do?Notes

CHAPTER 4 G-20 Summit, Pittsburgh 2009: Has “It Worked”?
G-20 Promises . . .G-20: The New ChampionNew Global Growth ModelGlobal Imbalances: What Next?What, Then, Are We to Do?Notes
CHAPTER 5 TW3 2009: Growing Again, but Hold on Tight
Dangers Lurk in 2010Optimism Is Not Good EnoughPicking through the WreckageTwo Qualms to UnravelGrowth Strategy—Competitiveness MattersWhat, Then, Are We to Do?Obiter DictumNotes
CHAPTER 6 Summer 2010: In for a Bumpy Ride, Even a Double-Dip?
A Double-Dip?The Deflation DilemmaNew Conventional WisdomWhat, Then, Are We to Do?Notes
CHAPTER 7 G-20 Summit, Toronto 2010: Reflects a Fragile Unity
The Toronto AccordChallenges and RisksNew Conventional WisdomObiter DictumWhat, Then, Are We to Do?Notes
CHAPTER 8 IMF Meet, Fall 2010: A Cop-Out
Global Economic AdjustmentThe Mechanics of RebalancingProblem Not One of CoordinationSimilar Problems, Different PathsWhat, Then, Are We to Do?Notes
CHAPTER 9 G-20 Summit, Seoul 2010: Much Ado about Nothing
The Seoul Action PlanThe Seoul Development Consensus (SDC) for Shared GrowthWhat, Then, Are We to Do?Notes
CHAPTER 10 TW3 2010: The World Trichotomized
State of the World EconomyImporting PessimismWhat, Then, Are We to Do?Notes
CHAPTER 11 Prospects 2011: As the World Turns
State of the WorldImpact of OilMENAAnd Then, There’s JapanA Word on ChinaWhat, Then, Are We to Do?Notes
CHAPTER 12 A Check-up at Mid-Year, 2011
MENA Jasmine RevolutionJapan’s Earthquake and TsunamiEurozone Concerns GrowUS Economy: Worse than It LooksGlobal Growth RevisitedThe Threat of InflationWhat, Then, Are We to Do?Notes
CHAPTER 13 Gloomy Outlook Takes Its Toll, 2011–2012
The ContagionThe Problem Is EuropeDefault by Greece?The Shadow of RecessionHousing IgnoredWhat, Then, Are We to Do?Notes
CHAPTER 14 G-20 Summit, Cannes 2011; APEC, Honolulu 2011: Without Gusto!
G-20 and FranceG-20 and ItalyG-20 Has Little to ShowThe G-20 PactAPEC’s Honolulu DeclarationWhat, Then, Are We to Do?Notes
CHAPTER 15 TW3 2011: Annus Horribilis
Storm Clouds GatherPoor Rich WorldUnited States, Eurozone, and JapanRich Poor WorldChinaWhat, Then, Are We to Do?Notes
CHAPTER 16 G-20 Summit, Los Cabos 2012 GJAP: More of the Same
Los Cabos GJAPIMF War ChestBRICS InitiativeGrowth CompactWhat, Then, Are We to Do?Notes
CHAPTER 17 APEC, Vladivostok 2012: A New Perspective
APEC DeclarationFree and Open MarketsAPEC IntegrationWhat, Then, Are We to Do?Notes
CHAPTER 18 TW3 2012: A Tough Year with a Bleak Outlook
Enter 2013OECD Slashes ForecastEast Asia and Pacific (EAP)What, Then, Are We to Do?Notes
CHAPTER 19 2013: Breadth of Global Slowdown Disconcerting
OECD and IMF DowngradeWhat, Then, Are We to Do?Notes
CHAPTER 20 TW3 2013: Tension and Risks; a Peek at 2014
Emerging Asia 2013Outlook for 2014What, Then, Are We to Do?Notes
CHAPTER 21 Spring 2014 Stock Take: Complex Risks Ahead
The AssessmentThe RisksWhat, Then, Are We to Do?Notes
PART II TROUBLE WITH THE GLOBAL ECONOMY
CHAPTER 22 The Paradox of Thrift
SavingsAggregate DemandThriftJapan and GermanyWhat, Then, Are We to Do?Notes
CHAPTER 23 Deflation Is Not an Option
World Economy“Green Shoots”: Just out of FreefallWorst-Case Scenario: Deflation?Deflation WoesWhat, Then, Are We to Do?Notes
CHAPTER 24 Reality Check on Economic Models
Failure of ModelsMinsky’s ChallengeMarkets Don’t Have All the AnswersRisk and MoralsWhat, Then, Are We to Do?Notes
CHAPTER 25 Commodity and Asset Prices Are Up; Can Inflation Be Far Behind?
Paradox of a Symmetrical RecoveryCommoditiesAsset BubblesInflation and the Quantity Theory of MoneyWhat, Then, Are We to Do?Notes
CHAPTER 26 A New Hazard: Double-Dip Deflation
Double-Dip Talk amid Unusual UncertaintyA History LessonDeflation Is Poorly UnderstoodConcern but Not PanicBiflationWhat, Then, Are We to Do?Notes
CHAPTER 27 The “New Normal”
New Normal for the United StatesNew Normal for the EurozoneNew Normal for Emerging NationsWhat, Then, Are We to Do?Notes
CHAPTER 28 Muddling Through the Inflation
United States and Eurozone InflationEmerging Developing Countries (EDCs)China, India, Other AsiaLatin AmericaThe Subsidy SpreeWhat, Then, Are We to Do?Notes
CHAPTER 29 It’s a Dangerous World out There
In Search of Safe HavenWhat Went Wrong?What, Then, Are We to Do?Notes
CHAPTER 30 “Risk-Off” Episodes
Global Economy SnoresCentral Bank FixRich Nations’ WoesChinaWhat, Then, Are We to Do?Notes
CHAPTER 31 Now’s Not the Time for Austerity
AusterityGrowth and AusterityThe IMF About-FaceA Cri de CoeurWhat, Then, Are We to Do?Notes
CHAPTER 32 The World Economy: Growing Pains and Bubbly Worries
The Worldwide WobbleOut of StepWhat, Then, Are We to Do?Notes
CHAPTER 33 What’s Up Is Down
Why the “Fall Fall”?GDP and the MarketTime for a “Melt-Up”?What, Then, Are We To Do?Notes
PART III THE UNITED STATES: JOBLESS RECOVERY
CHAPTER 34 Jackson Hole “Gunfight” Shoots Blanks
The Official LineUncomfortable Monetary MathNew InsightsWhat, Then, Are We to Do?Notes
CHAPTER 35 The United States Is No Longer AAA
US DowngradeImmediate Global Sell-offEuropean ContagionWhat’s Wrong with the US Economy?What, Then, Are We to Do?Notes
CHAPTER 36 “Occupy Wall Street” Goes Global
US InequalityUS PovertySmart GovernmentWhat, Then, Are We to Do?Notes
CHAPTER 37 Lessons from Marx to Market
Marx and Global DisorderUnbalanced Times AheadLessons from JapanMiddle Classes Also RiseWhat, Then, Are We to Do?Notes
CHAPTER 38 Sachs and Krugman on the Global Crisis
Sachs: Confucian ManSachs’s FocusKrugman: The LiberalWhat, Then, Are We to Do?Notes
CHAPTER 39 Life after Keynes with the Double-Dip
J. M. KeynesFree-Market FundamentalismKeynesianismWhat, Then, Are We to Do?Notes
CHAPTER 40 Growth Dims after the “Cliff”
“Cliff” DealUS Debt CeilingBudget DeficitIdeological DivideUS EconomyGrowth UpdateWhat, Then, Are We to Do?Notes
CHAPTER 41 An Inconvenient Truth: QE Withdrawal Syndrome
Current State of PlayTapering Is Not TighteningWhat, Then, Are We to Do?Notes
CHAPTER 42 An Unnecessary Disaster Spawns Market Fears
Why So?Debt ArmageddonThe ImpactWhat, Then, Are We to Do?PostscriptNotes
CHAPTER 43 US Growth Deficit: Too Loose, Too Long
Growth DeficitTransatlantic GapMessy Jobs StatusReturn of InflationWhat, Then, Are We to Do?Notes
PART IV THE EUROPEAN UNION AND EUROZONE: MORE AUSTERITY
CHAPTER 44 Dark Clouds over Europe and the United States
The Eurozone StumblesThe United States SlidesProductivity: The Critical KeyUS Deficit Is Too LargeWhat, Then, Are We to Do?Notes
CHAPTER 45 ECB and Fed Clear Way to Act
Weakness Dogs the WorldDraghi’s DilemmaBernanke’s Barrel RollWhat, Then, Are We to Do?Notes
CHAPTER 46 Eurozone Growth Can’t Move beyond First Gear but Needs to Keep Deflation at Bay
Definite Weakening“Lowflation” to DeflationQE as Last ResortWhat, Then, Are We to Do?Notes
CHAPTER 47 PIIGS Can’t Fly: The Trouble with Greece
Desperate Times, Desperate MeasuresDebt Jitters SpreadThe RisksHeadlines Miss Woods for the TreesWhat, Then, Are We to Do?Notes
CHAPTER 48 Greece Is Bankrupt
The Greek IllusionGreece Is InsolventThe MacroeconomicsPolitical Solution: Slash and Burn Won’t WorkFew Options LeftWhat, Then, Are We to Do?Notes
CHAPTER 49 Greek Bailout Mark II: It’s a Default
Contagion: Italy and SpainThe Deal: Europeanization of Greek DebtImpact of DefaultGrowing PainsWhat, Then, Are We to Do?Note
CHAPTER 50 Greece and Eurozone: Austerity Fatigue
The EurozoneThe Greece “Lock-in”Unlocking the Greek BailoutPolitics beyond BordersWhat, Then, Are We to Do?Notes
CHAPTER 51 Greece: More Aid Needed to Save the Austerity-Fatigued
Fleeting ReliefSins of the “Father”G-20 and EU SummitAsia’s LessonsNo Pound of FleshWhat, Then, Are We to Do?Notes
CHAPTER 52 New Euro Deal: Not the Whole Bazooka
The DealTough Sell with No GrowthNot Enough FirepowerDrag on AsiaWhat, Then, Are We to Do?Notes
CHAPTER 53 European Union: Favoring Growth Against More Austerity
The Pain“Growth Compact”Economic SuicideThree-Pole Global EconomyWhat, Then, Are We to Do?Notes
CHAPTER 54 European Union: A Summer of Discontent
Austerity BacklashStiffest Test EverAusterity RebukedWhat, Then, Are We to Do?Notes
CHAPTER 55 European Union: Draghi’s Bumblebee
Euro Does Not FlyEurope Limps into the Third Quarter of 2012US Economy CoolsSticky Spell for AsiaChina StabilizesWhat, Then, Are We to Do?Notes
CHAPTER 56 Cyprus’s Bailout Turns Bail-In
Cyprus Is UniqueA Bitter DealCyprus Euro Not the EuroWhat, Then, Are We to Do?Notes
PART V JAPAN: DEAD ON BUT NOT DEADENED
CHAPTER 57 Japan in Deep Hibernation
Sleepwalking in Slow MotionNew Stimulus¥ InterventionDeflation, Status Quo, and RecoveryWhat, Then, Are We to Do?Note
CHAPTER 58 3-11: The Tohoku Disasters One Year On
Japan RemembersThe Fourth DisasterTea at EntokuinDigital ArchiveEconomy Grapples with AftermathWhat, Then, Are We to Do?Notes
CHAPTER 59 Japan Picks Up the Pieces
IMF UpdatesJapan’s OutlookWhat, Then, Are We to Do?Notes
CHAPTER 60 Abenomics: Japan Comes Alive Again
The Three ArrowsTakahashi-nomicsThe RisksWhat, Then, Are We to Do?Notes
CHAPTER 61 Abenomics Hitting Speed Bumps
ImpactSpeed BumpsWages and GrowthWhat, Then, Are We to Do?Notes
PART VI THE INTERNATIONAL FINANCIAL SYSTEM
CHAPTER 62 So, the Gold Bug Still Bugs You
Monetary GoldThe World Running out of Gold?Man’s Addiction to GoldGold Is Looking Less Barbaric?Gold’s Uncertain FutureWhat, Then, Are We to Do?Notes
CHAPTER 63 Man’s Addiction to Gold
Gold StandardUS$ StandardGold and SDRsFuture of GoldWhat, Then, Are We to Do?Notes
CHAPTER 64 In Search of Gold at Bretton Woods: Lust for Gold Not Paying Off
Back to New EnglandBretton Woods AccordBack to HarvardGoldGoldbuggismGold DisappointsConventional Wisdom Is WrongBitcoin—Digital Gold?What, Then, Are We to Do?Notes
CHAPTER 65 What's Wrong with the International Monetary System?
Basic PrinciplesWhat's Wrong?Are Payments Deficits Good or Bad?IMS ReformWhat, Then, Are We to Do?Notes
CHAPTER 66 US Dollar: Cracking at the Seams
MultipolarityA Strong US Dollar: A DelusionThe Euro and the RMBPolicies CoordinationWhat, Then, Are We to Do?Notes
CHAPTER 67 The Dollar Quagmire
US Dollar as Anchor and ReservesThe Bretton Woods SystemAre Payments Surpluses Good or Bad?US Dollar ReservesThe EuroSpecial Drawing Rights (SDRs)New Realities for ChinaChina’s Global RoleWhat, Then, Are We to Do?Notes
CHAPTER 68 The “Trilemma” of Capital Controls
The French ConnectionThe “Trilemma”“Smoke, but Do Not Inhale”Controls Stir DebateWho’s to Blame?What, Then, Are We to Do?Notes
CHAPTER 69 Burgernomics and the Ringgit
PPP in Today’s WorldThe Big Mac IndexValue of the RinggitPPP as a GuideThe Japanese LessonWhat, Then, Are We to Do?Notes
CHAPTER 70 The Yuan Way to a New Monetary Order
ChinaThe YuanOffshore YuanDim-Sum BondsBilateral ArrangementsWhat, Then, Are We to Do?Notes
CHAPTER 71 Why Tokyo Failed to Be Top-Tier IFC
Tokyo Didn’t Make ItGlobal Livable CityWimbledon EffectTop RankingWhat, Then, Are We to Do?Notes
CHAPTER 72 At Risk: Beggar-Thy-Neighbor
Playing with FireThe Battle of Smoot–HawleyThe New ProtectionismThe Many Faces of ProtectionFair-Weather Free TradersWhat, Then, Are We to Do?Notes
CHAPTER 73 Currency Wars at a Time of Deficient Demand
The “Grass Gets Crumpled”The Yuan ScapegoatWhat’s China to Do?What, Then, Are We to Do?Notes
CHAPTER 74 Tension over Exchange Rates
The Swiss FrancThe Devil’s Trade-OffNew Haven: The “Nokkie”The Yen Resists the PressureReprieve for the YuanReturn to Global StrifeWhat, Then, Are We to Do?Notes
CHAPTER 75 RMB: What’s a Budding Currency to Do?
US Dollar in 2013 and to DateChina’s ResolveRMB Global RoleWhat, Then, Are We to Do?Note
CHAPTER 76 The Kiss of Debt
PIIGS Can’t FlyUS and Its AAA RatingTill Debt Do Us PartNo Such Dilemma in AsiaWhat, Then, Are We to Do?Notes
CHAPTER 77 This Obsession with Debt
“Confidence”Growth versus DebtIs Debt Too High?Debts Matter, but Assets Also CountWhat, Then, Are We to Do? The Keynesian WayNotes
CHAPTER 78 The Tobin Tax Revisited
Agenda 21: The Rio DeclarationInnovative MechanismsTobin TaxGlobal Tax on Financial TransactionsTo Tobin or Not to TobinWhat, Then, Are We to Do?Note
CHAPTER 79 Dubai: Or Is It Bye-Bye?
Dubai’s Caustic LessonTail Risk ResurfacesSukuk’s DilemmaLooking Past the SandstormWhat, Then, Are We to Do?Note
CHAPTER 80 Whatever Volcker Wants, Volcker Gets?
The Volcker RuleThe Mayor and the GunslingerWide-Ranging SupportDeciphering the Volcker RuleCan Big Banks Really Walk Alone?What, Then, Are We to Do?Notes
CHAPTER 81 “Too-Big-to-Fail” and the Volcker Rule Faces Fresh Challenges
The Volcker Rule“Too Big to Fail”Potential Loopholes and ChallengesWhat, Then, Are We to Do?Notes
CHAPTER 82 LIBOR Scandal Fuss
What’s LIBOR?What’s Wrong with LIBOR?Why Barclays?Efforts at ReformWhat, Then, Are We to Do?LIBOR Scandal RevisitedRiggingEURIBORSpillover ImpactNew LIBOR AdministratorWhat, Then, Are We to Do?Notes
CHAPTER 83 Wall Street Stock Market Rigged: HFT “Cheetahs” Only Take 13,000ths of a Second to Turn a Profit
The VocabularyWall Street Is RiggedHFT, an Unfair GameWhat, Then, Are We to Do?Notes
CHAPTER 84 Shadow Banking: The Global Bogeyman
Market NicheTrusts on the RunWhat, Then, Are We to Do?Notes
PART VII GOING GREEN
CHAPTER 85 Blue Ocean That’s Also Green
Green GloveSpreading Value AddedWhat, Then, Are We to Do?Notes
CHAPTER 86 The Crimson Goes Green
Flat Is the New UpWhat, Then, Are We to Do?Notes
CHAPTER 87 The Road to Copenhagen
The DangersPerspective to CopenhagenThreats of Denial and DespairThe GridlockA Copenhagen “Political Agreement”?“One Agreement, Two Steps”Climate Change in a Hungry WorldWhat, Then, Are We to Do?Note
CHAPTER 88 RIO+20: What a Huge Disappointment
What Happened at Rio+20?“The Future We Want”Cost of Not “Greening”What, Then, Are We to Do?Notes
PART VIII SOCIAL ISSUES OF CONCERN
CHAPTER 89 9.6 Billion
Supply and DemandWhat’s Enough?WasteCan It Be Done?What, Then, Are We to Do?Obiter DictumNotes
CHAPTER 90 The Seven-Billionth Baby Is Born
How Did We Get Here?The DemographicsDemographic ImbalanceDemographic DividendDemographic Silver LiningSharing Earth’s ResourcesWhat, Then, Are We to Do?Notes
CHAPTER 91 The Ominous Demographic Dilemma
Dispelling the MythsTale of Two “Bellies”Aging Time BombWhat, Then, Are We to Do?Note
CHAPTER 92 The Quality of Life
Soft OptionsRisk ManagementThe Quality of LifeHow to Go about It?Talent ManagementWhat, Then, Are We to Do?Note
CHAPTER 93 The Emerging Bourgeoisie
Who Are They?One-Third RuleNMC SurgesNew HabitsSocial CohesionThe NMC and GrowthScary New RichWhat, Then, Are We to Do?Notes
CHAPTER 94 Rising Income Inequality and the Piketty Blockbuster
Piketty, Kuznets, MarxInequality versus GrowthWhat, Then, Are We to Do?Notes
CHAPTER 95 Has Undergraduate Education Lost Its Way?
Why This Drift?What Universities ForgotCurriculum ReformDignity, Honor, and ResponsibilityBalance between the Sciences and HumanitiesWhat, Then, Are We to Do?Obiter DictumNotes
CHAPTER 96 The MBA: Is It Still Relevant?
You Are Angry, I’m Angry, Too!A Little Bit of HistoryThe Trouble with RankingsManagement Education Adds ValueToo Little Core RevampA Promise to Be EthicalHow Best to Regain TrustWhat, Then, Are We to Do?Notes
CHAPTER 97 375 Years and Still Number One
Rites of PassageHarvard through the YearsToo Selective?Divergent Global PresenceConstancy of ChangeWhat, Then, Are We to Do?Notes
CHAPTER 98 Onward the Harvard Connection
Tenured ProfessorProfessorship FundsBenefitsWhat, Then, Are We to Do?Notes
CHAPTER 99 The Future of University Education: What It Takes to Be Educated
Higher EducationTensionsEnd ProductWhat, Then, Are We to Do?Five QuestionsNotes
CHAPTER 100 Schumpeternomics: Gotta Keep on Learning
Technological ProgressInnovation and Creative DestructionHigher EducationWhat, Then, Are We to Do?Notes
PART IX MALAYSIAN TRANSFORMATION AND INNOVATION
CHAPTER 101 Getting “Cangkul-Ready”
Financial ImpactCloser to HomeWhat, Then, Are We to Do?Note
CHAPTER 102 Now the Real Pain Begins
ImpactNeed for StimuliStimulative PackageWhat, Then, Are We to Do?Notes
CHAPTER 103 Mahathir’s Challenge
The Big PictureThe System That FailedWhat, Then, Are We to Do?Obiter DictumNotes
CHAPTER 104 Stimulating Times
2SPImpactWhat, Then, Are We to Do?Notes
CHAPTER 105 Price Fixing, Market Sharing, and Collusion Are Illegal
Competition Act 2010 (Act 712)Exclusions and ReliefCurrent SituationDawn RaidsWhat, Then, Are We to Do?Notes
CHAPTER 106 Najib’s New Way Forward
The Newly Minted GraduatesThe Way ForwardNew Economic Model: Three PillarsEducationHealth, Energy, and EnvironmentConfucius SaysWhat, Then, Are We to Do?Note
CHAPTER 107 We Still Don’t Get It
Talk, Not ChangeWhat’s at Stake?NEM Is PivotalThe Nasi-Lemak PrincipleWhat, Then, Are We to Do?Note
CHAPTER 108 Creativity: The Key to NEM’s Success
Creativity: A Culture ThingEducation: The Issue of Our TimeContinuing DenialCome on, Get RealThe Talent WarWhat, Then, Are We to Do?Notes
CHAPTER 109 The Mystique of National Transformation
Middle-Income TrapNEM, ETP, and GTPA Lesson from HistoryImportant How the Public “Feels”Human Capital and InnovationWhat, Then, Are We to Do?Notes
CHAPTER 110 Toward Quality Undergraduate Education
Historical PerspectiveLiberal Arts EducationWhat’s Wrong ?ReformDignity and HonorAdding “Breadth” in AustraliaWhat, Then, Are We to Do?Notes
CHAPTER 111 Innovation: Catalyst for Recovery
Recession and Research and DevelopmentJobs, Skills, and TalentWhat, Then, Are We to Do?Notes
CHAPTER 112 On Productivity and Talent Management
ProductivityGovernment as an EnablerVenture CapitalTalent ManagementGlobal Talent WarWhat, Then, Are We to Do?Notes
CHAPTER 113 Finance for Innovative Ventures: Broken Dreams?
Venture Capital versus Private EquityVenture Capital in MalaysiaCompelling ChallengesNew Approach to Venture CapitalWhat, Then, Are We to Do?Notes
CHAPTER 114 Venture Capital Initiatives to Boost Entrepreneurship
Private EquityCrowdfundingWhat, Then, Are We to Do?Notes
PART X EMERGING EAST ASIA, ASEAN, AND BRICS
CHAPTER 115 Export-Led Growth Model: Quo Vadis?
AsiaExport-Led GrowthImports Aren’t So BadThe Paradox of ThriftWhat, Then, Are We to Do?Notes
CHAPTER 116 “Go East, Young Man”
IpohShift in OptimismUS Growth ProspectsImpact of Rising DebtFault Lines Haven’t Gone AwayWhat, Then, Are We to Do?Notes
CHAPTER 117 Asia Feels the Heat
Downswing in SyncUS Growth CorrectsAsia Buckles UnderWhat, Then, Are We to Do?Notes
CHAPTER 118 QE3 Exit and Asia’s Trilemma
Policy TrilemmaImpact on AsiaDicey DominoesBIITS and CRASHWhat, Then, Are We to Do?Notes
CHAPTER 119 Focus of Concern: Emerging Asia at Risk
Take a Deep Breath“Fragile Five”Coping with Cheap Money’s EndRising Cost of CapitalWhat, Then, Are We to Do?Notes
CHAPTER 120 ASEAN Stimulus
The PerspectiveGlobal Recession PersistsStimulusWhat, Then, Are We to Do?Notes
CHAPTER 121 ASEAN+3 Stimuli
East AsiaJapanChinaSouth KoreaWhat, Then, Are We to Do?Notes
CHAPTER 122 AEC Is on the Way, but It’s No Big Deal
ASEANAEC ScorecardGlobal TradeBeyond ASEANWhat, Then, Are We to Do?Notes
CHAPTER 123 South Korea Emerges More Competitive
South Korea before Global CrisisShocks from the Global CrisisPolicy ResponseSouth Korea Post-Crisis, 2009–2010Nothing Is OveroptimisticWhat, Then, Are We to Do?Note
CHAPTER 124 The Philippines: Its Turn Is Next
New Broom, New StrategiesWhy Has Growth Stalled?Growth FrameworkThinking out of the BoxWhat, Then, Are We to Do?Notes
CHAPTER 125 Indonesia Losing Its Footing?
Resource NationalismEconomic Poster ChildDemographic DividendThe OutlookWhat, Then, Are We to Do?Notes
CHAPTER 126 Indonesia and India: Under New Management
IndiaIndonesiaWhat, Then, Are We to Do?Notes
CHAPTER 127 Vietnam Wakes Up: Ding Dong Dung
The PoliticsThe EconomyStruggling AgainMoving ForwardWhat, Then, Are We to Do?Note
CHAPTER 128 Thailand on the Rebound
V-Shaped RecoveryThe RisksWhat, Then, Are We to Do?Notes
CHAPTER 129 Myanmar: Not the Burma I Used to Know
No More BurmaIMF OptimisticNew Exchange RegimeNew Investment LawsWhat, Then, Are We to Do?Notes
CHAPTER 130 Myanmar Spring: “Look, Listen, Learn, and Leave”
Reality CheckNo Turning BackWhat Is Done and What Is There Still to Do?Vietnamese LessonsWhat, Then, Are We to Do?Notes
CHAPTER 131 The BRICS Are Coming . . .
Building BRICSBRICS SummitBRICS and AsiaMissing BRICSA Wall of BRICSWhat, Then, Are We to Do?Notes
CHAPTER 132 BRICS Can’t Run as a Herd
eThekwini Action PlanChina’s DominanceRemaining ResilientWhat, Then, Are We to Do?Notes
CHAPTER 133 Acronym Anxiety: BRICS Are Stumbling
BRICS, MINT, and CIVETSBIITSConvergence MythWhat, Then, Are We to Do?Notes
CHAPTER 134 China: Realities about Its BOP Surpluses
Causes of ImbalanceThe Exchange Rate OptionChina’s Neighbors Less ConcernedUnited States Unlikely to BenefitWhat, Then, Are We to Do?Notes
CHAPTER 135 China: RMB Flexibility Not Enough
Credibility Requires Serious ActionTrading under the New Regime“Hot Money”Non-Deliverable ForwardsInternationalization of the RMBWhat, Then, Are We to Do?Notes
CHAPTER 136 China: Much Ado about Nothing
Japan, China, and the United StatesChina Continues GrowingRedefining ChallengesGDP: Not Necessarily HappinessPursuit of HappinessWhat, Then, Are We to Do?Notes
CHAPTER 137 The “China Dream”
Promises and PledgesTransformationUrbanizationWhat, Then, Are We to Do?Notes
CHAPTER 138 China: Economic Slowdown: A Cause for Concern?
China WorriesShadow BankingReformsUrbanizationWhat, Then, Are We to Do?Notes
CHAPTER 139 China: The Third Plenum Reforms Are Well Received, but the New Deal Flashes Danger Signals
Now for the ActionLeadership Charts the PathEarly ConcessionsPower to ImplementWhat, Then, Are We to Do?Note
CHAPTER 140 China: Multiple Policy Dilemmas
Outlook Still DismalGDP WorshipSustainable GDPGrowth versus DebtBanking ReformWhat, Then, Are We to Do?Notes
CHAPTER 141 China: Rebalancing Growth with Reform and Moving Up to the Next Level
Growth and ReformPragmatism at WorkWhat, Then, Are We to Do?Notes
CHAPTER 142 India: The Outlook Dims
“Rickshaw” PaceWhat Ails India?Netas and BabusQuality of GrowthIndian PoliticsWhat, Then, Are We to Do?Notes
CHAPTER 143 “A Passage to India”: The Outlook Remains Dire
Not on One EngineRupee Shake-UpPressing DilemmaCurrency DefenseThe Elephant and the DragonWhat, Then, Are We to Do?Notes
PART XI CORPORATE GOVERNANCE AND MANAGEMENT
CHAPTER 144 On Corporate Governance and Doing It Right
The Big PictureConflict of InterestOne Hat Is Enough?Independent DirectorsAsia on the GoWhat, Then, Are We to Do?Notes
CHAPTER 145 The CG Blueprint 2011: “Let a Hundred Flowers Bloom”
Independent DirectorsMultiple DirectorshipsSeparating Chairman and Chief Executive OfficerMandatory Poll VotingWomen DirectorsContinuing EducationWhat, Then, Are We to Do?Notes
CHAPTER 146 Creative Destruction: “Kodak Moment” No More
KodakWhat Went Wrong?Kodak versus FujifilmCreative DestructionWhat, Then, Are We to Do?Notes
CHAPTER 147 The F&N Saga
The Deal and the ManF&N: First 100 YearsThe Last 30 YearsTakeover BluesWhat’s F&N to Do?Postscript: The OutcomeNotes
CHAPTER 148 On Global Gaming, Aussie$, the SGX–ASX Merger
Global GamingThe Aussie DollarSGX–ASX MergerA Historical Perspective Is HelpfulWhat, Then, Are We to Do?PostscriptNotes
EPILOGUE
CHAPTER 149 In Search of Growth
October 2014 AssessmentAiling EuropeStock Sell-OffWhat, Then, Are We to Do?Obiter DictumNotes
POSTSCRIPT: ON TO 2015
CHAPTER 150 The Goat Straggles into 2015 amid Rising Risks
Oil’s SlideWounded Bear Heads for #63Europe, Japan Flagging; China SlowingWhy the Differentiation?What, Then, Are We to Do?Notes
CHAPTER 151 2015: A Dismal World Where Oil and Currencies Are Causing Havoc
1990s All Over Again?Oil Slide ResumesCurrency War?What, Then, Are We to Do?Obiter DictumNotes
About the Author
Index
EULA

Overview

This book covers the world economy, in particular US, EU, Japan & the international monetary system - what's wrong with it; the key issues underlying its inadequacy; and what can be done about it. It concentrates on Asia, covering the emerging East Asia, ASEAN and BRICS nations. It also outlines the author's personal views on global demography, the need for quality education; and the emerging middle-class. The book ends with some observations on corporate governance in Malaysia and some thoughts on CSR & management in general.

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Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It

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The Global Economy in Turbulent Times

by See-Yan Lin

Overview

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