business

NEWS: The Country Training People to Leave

March 9, 2015 // 0 Comments

A great article to discuss when teaching BRAINDRAIN. The country training people to leave By Stephen SackurBBC, Philippines The Philippines has one of the fastest growing economies in Asia – but there aren’t enough jobs to go around. So every year the government teaches thousands of people the skills they need to get jobs abroad. When I arrive at the state-run Housemaids Academy in Manila morning exercises are well under way. A squad of uniformed cleaners is poking feather dusters into all corners of the sitting room. In the kitchen trainee cooks are immersed in the finer points of salad preparation. The academy has the feel of a soap-opera set – each room meticulously dressed to ape the reality of a grand residence. Below stairs is a classroom filled with old fashioned school desks. Here, I’m told, the trainee house servants take lessons in hygiene, respect and personal finance. The Philippines government schools tens of thousands of maids, chauffeurs, [...]

NEWS via psMag: Ironic Gentrification and the Migration of Globalization

March 24, 2014 // 0 Comments

Ironic Gentrification and the Migration of Globalization BY JIM RUSSELL • March 20, 2014 • 2:00 AM Cherry blossom trees in Buffalo, New York, in bloom. (Photo DragonFire1024/Wikimedia Commons) Higher education and health care, two major elements of the new Legacy Economy, are attracting global talent and gentrifying the neighborhoods that surround them, pricing out residents who toil in the local or regional labor market. I link economic globalization to gentrification with migration. Gentrification itself is an indicator of intensifying globalization. The influx of migrants who toil in a global labor market move into a neighborhood and compete with residents who toil in a local or regional labor market. Soon enough, the rent is too damn high. Or, if you like (I do), the wages are too damn low. Both cost for shelter and income impact housing affordability. A conventional measure that captures both variables is percentage of income dedicated to housing. In that light, some [...]

NEWS via BloombergBusinessWeek: Megadams Are Dismal Investments

March 22, 2014 // 0 Comments

Megadams Are Dismal Investments By Blake Schmidt March 13, 2014 Photograph by Taylor Weidman/Zuma Press Indigenous Munduruku men at the quarry site for Belo Monte It’s hard to overstate the massive proportions of Belo Monte. When completed, it will be the world’s third-largest dam. Set in the heart of the Brazilian Amazon, it will funnel water through 18 turbines, each with the diameter of the Space Shuttle. When the last one is switched on in 2019, Belo Monte will have a capacity of 11,233 megawatts—enough to supply power to 40 percent of Brazil’s households. Construction crews, which began work in 2011, will have to dig up almost twice as much dirt as was removed to build China’s Three Gorges Dam, and truck in enough steel to build 16 Eiffel Towers, according to the dam’s developers. About 26,000 laborers toil in shifts around the clock. Massive is a word that also applies to the hydropower project’s price. Norte Energia, the consortium awarded a 35-year concession [...]

NEWS via CNN: Plugging China’s talent pool

March 20, 2014 // 0 Comments

Plugging China’s talent pool By Zarina Banu for CNN March 20, 2014 — Updated 0603 GMT (1403 HKT) Many are leaving China for reasons like education, food and wealth security and air quality. STORY HIGHLIGHTS China sees 8.5 million mainly middle-class living abroad with less than 10% moving in Paper in China calls exodus “the world’s worst brain drain” Hong Kong (CNN) — “Culture is not the main reason why most Chinese people leave. This is a romantic view. Most people leave China because of practical reasons like education, food and wealth security and air quality.” This is the view of Li Chen, who moved to Hong Kong from the mainland two years ago. A combination of pragmatism and aspiration led the 32-year-old Masters of Journalism student to leave. He said when his wife was offered the chance to relocate to Hong Kong, the timing for the couple was just right. The move allowed Li to pursue his passion for photography and will earn him [...]

NEWS via ABQjournal: Mexican economy’s growth in overdrive

March 19, 2014 // 0 Comments

Mexican economy’s growth in overdrive By Jerry Pacheco / For the Journal PUBLISHED: Monday, March 17, 2014 at 12:05 am The current economic situation in Mexico reminds me of what was going on in this country in the early 1990s. At that time, Mexico had fully committed to opening up its economy and opting for trade liberalization. It had a young president who was openly supportive of commerce and of foreign direct investment in his country. A wave of privatization, reversing the trends in the 1980s, was sweeping the country as it opened up its telecommunications and financial industries. The North American Free Trade Agreement was implemented in 1994 and Mexico was going full steam ahead to create a modern economy. Perhaps more than anything, there was a spirit of change and excitement in the air. Fast-forward 20 years and this same feeling seems to be in the air, as the Mexican economy grows and change is happening daily. Since taking office at the end of 2012, Mexican President [...]

NEWS via CNN: Crimea-Economic fallout of a ‘yes’ vote

March 16, 2014 // 0 Comments

Crimea: Economic fallout of a ‘yes’ vote By Alanna Petroff and Mark Thompson  @CNNMoney March 15, 2014: 7:54 AM ET Crimea is voting on Sunday in a referendum to decide if the region should break from Ukraine and join Russia.  LONDON (CNNMoney) The Ukrainian region of Crimea votes Sunday on whether to join Russia, a move that could tip Europe back into a Cold War with its powerful eastern neighbor. The West has called the vote illegal, saying Russian military activity in Crimea violates Ukraine’s sovereignty and will influence the outcome of the referendum. U.S. and European leaders say Russia will pay a price for annexing Crimea, and German Chancellor Angela Merkel has warned of a potential “catastrophe.” Related: Live coverage of the crisis in Ukraine If, as expected, Crimeans choose Russia over Ukraine, the fallout could ultimately affect economic growth, trade, investment and energy supplies. Sanctions: Western powers may move as early as Monday [...]

NEWS via Guardian Liberty Voice: China Population Structure Change Demands Economic Reform

March 15, 2014 // 0 Comments

China Population Structure Change Demands Economic Reform Added by Tina Zhang on March 15, 2014. On March 13, China’s annual parliament meeting closed. Reforms in financialsector, economic structure, environmental protection, and many other areas were proposed. During the nine days of the meeting, there was plenty of news showing disappointing performance in areas such as investment, retail sales and factory output in the first two months of this year. These already invited speculations that policy easing from the government should be imminent. Beijing repeated said it would tolerate slower economic growth in exchange for economic structural transformation. Aside from the often-quoted reasons for such reform, the unstoppable change of the population structure demands China must tough through the pain of slowing economy and its structural reform. China’s working-age population shrank for the first time in 2012 by 3.45 million. Looking into the future, the number of 15 to 24 [...]

NEWS via CNN Money: 11 cities where workers are disappearing

March 14, 2014 // 0 Comments

NEW YORK (CNNMoney) Cincinnati, Cleveland and Dayton, Ohio The labor force has been shrinking in all of Ohio’s major cities other than its state capital, Columbus. Cleveland has lost 52,000 workers, or about 5% of its labor force, since November 2007, and Cincinnati lost 39,000 workers, or about 4% of its labor force, since May 2009, according to U.S. Bureau of Labor Statistics data. Job growth is anemic, particularly in Ohio’s main industry, manufacturing. Signs point to workers giving up, said Amy Hanauer, executive director of Policy Matters Ohio. “I think people are getting discouraged and leaving the labor market,” she said. Ohio lost 388,000 jobs in the financial crisis, and has since gained only about a fifth of them back. Phoenix and Tucson, Ariz. The fallout from the housing bust is still felt here. The construction sector slashed more than half its jobs in the crisis, and they’ve only started to trickle back in the last few months. But the [...]

NEWS via NewYorkTimes: Some Who Fled Cuba Are Returning to Help

March 7, 2014 // 2 Comments

Some Who Fled Cuba Are Returning to Help By DAMIEN CAVEMARCH 4, 2014 At Atelier, foreigners and Cubans find food and service that had disappeared from Havana for decades. Credit Todd Heisler/The New York Times HAVANA — The business ideas have ranged from a bikini franchise to a peanut farm, restaurants, and design firms for software and home interiors. But even more novel than the pitches — in a country where entrepreneurship used to be illegal — is the financial muscle behind them: Cuban-Americans whose families lost their previous ventures to Cuba’s Communist government. “It’s all about people not losing hope and seeing that starting a business is a way to improve their lives,” said Eduardo Mestre, 65, a Wall Street banker who returned to Cuba last year for the first time since 1960 to see the start-up training he helps finance. “Emotionally, it’s very hard not to connect with people who have all this ambition in a place where maintaining hope is very hard to [...]
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