This is me walking down the streets of Manhattan talking about the Clinton Conference.
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Posted on General | 12:17 am
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This is the year in which Europe will either fall apart or emerged stronger. I give it 75% that it emerges as a stronger union but the risk of collapse is still there. Germany has the key to solve the problem because of the size of its economy, its saving rate and its export volume. Germany has to decide on whether it continues to transfer some of its wealth in order to create markets for its exports or it let’s Europe fall apart and ends up with an overvalued currency and deteriorated markets. Already today it started paying negative interest rates which is a prelude in my view to a huge rise in the DM should it be born again. Tough choice. I think Germany can actually both save Europe and make money by buying underpriced Italian and Spanish bonds and selling them after stabilization. It can do what the FED did with many financial institutions, make a profit by providing much needed liquidity at a critical time.
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Posted by kei - September 22, 2006 12:22 pm - #
I found interesting that you questioned why wealthy Africans or Latin Americans are not making commitments to help environment in each region. (I guess that was what you were saying)
There are Japanese expression that until you are satisfied (enough) with your clothing and foods, you won’t learn the manner. Not same as manner, but contribution for the society or others must be farther away. And I feel that the base of the society (farming culture or hunting culture) must make a difference.
I founded an environment improvement venture for China with energy saving engineering to heavy industries. Chinese companies moves to save the environment because they could make money in there with the CDM programs.