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Roughly half of world comprises four by 1 billion: girls, young women. mothers, grandmoms- HYPOTHESIS 2020s economistamerica.com needs now to celebrate freedom of young metoo lives matter. Try to stay out of the way of Men's supreme triad Donald , Vladamir, Yong. Maths at Codesmeta.com.Dad, The Economist's Norman Macrae would have been 100 in 2023 (see below Glasgow celebration MES). Da'ds first trip to USA: 1951 year secondemnt by The Economist. He met Von Neumann: they agreed greatest sccopp journalists would ever mediate - what GOOD will peoples do with 100 times more tech every decade : 1930s to 2020s. GOD measnt a lot to both men- Von Neumann had less than 6 years left to deliver good tech legacy from the Goats of maths (including Einstein, Turing); these immigramnts had aminly been forced to work on the bad of nucleasr weapons; my dad had spent his last dayas as a teen in bomber command naviagting airplanes our of Burma; as well as survival his good fortune mapsd of the old woirld's tri-contiment in his head; notably the indo pacific whose coastline three quarters of humans depended on for world trade but which particularly britain had enginee4rd to enrich the west and trap asians in poverty- still with 100 times more good tech to go round - could everyone win-win; for example webbing life critical knowhow locally multiplies value in use unlike consuming up things. HOW DID DAD FOLLOW UP Neuman's Gift. He chered on twin AI Labs facing pacific out of stanford (eg see 10th birthday celebration of place branded silicon valley) and facing atlantic out of MIT. His bio of V neuman has been published in American and japanese. He wrote over 2000 anonymous leaders for The Economist and aged 39 was permitted one signed survey a year. You can see ost of tehse at tecahforsdgs.com- what did he write about? In the 1960s countries whose peoples had worried him most -starting with the Jpanese he had bomber consider Jpana 1962 (Russia 1963, latin Am 1964 , Algeria & S SAfrica; he concluded 1960s interviwing how dismally different Nixon's economit admin had been from jfk - the least national leader to celebartae with youyth 100 times more (moon race, mapping worldwide interdependence).Ironically Neumann's computational gift was sperading a macroeconomic numbers man whose systems compounded opposite of sustainability. Rather than argue with american academai- dad rebranded his purpose as future historian and entrepreneurial revolutionary. Still the main question search through 70s and up to 83 wgat good 100 times more. Then to offere a diferent end game to orewell's big brother we co-austhored from 18=984 2025 reports- -webs we expected to be designed from 1990; opportumities and threats of milennials first quarter centiry - the first sustainability generation or the first extintion generation. Join in the final tipping points now- support UN2.0 ,educatirs on web3 and metaverse, indsutrial revolution 4, society 5.0 depending which culture you come from and whether you traingularise valuation of 8 billion beings by corpoiarte ESG , civil society emwpoermemnt or what gov2.0 does gov

Sunday, December 29, 2019

can americans ever recover win-win trading maps


A profitable student: America wants the World Bank to stop making loans to China

- Dec 14th 2019
THE CARIBBEAN islands of St. Kitts and Nevis are known for luxury tourism (visitors include Meryl Streep and Oprah Winfrey), pricey citizenship (on sale for $150,000), and a sprint world champion (Kim Collins). But despite the country’s many assets (including a national income per person of over $18,000) it is eligible for loans from the World Bank, an institution dedicated to eradicating extreme poverty.
Because the islands are so small, this draws little comment. Not so for China. Its income per person is half that of St. Kitts and Nevis, and lower than that of Poland, Malaysia, Turkey and 15 other potential borrowers. But its eligibility to borrow from the World Bank strikes many Americans as anomalous, even scandalous.
One of them is President Donald Trump. “Why is the World Bank loaning money to China? Can this be possible?” he tweeted on December 6th, a day after the bank discussed a new five-year lending framework for America’s rival. Another used to be the World Bank’s president, David Malpass, in his former job as an American treasury official. In 2017 he argued that “it doesn’t make sense to have money borrowed…using the US government guarantee, going into lending in China”. Steven Mnuchin, the treasury secretary, heard similar sentiments in a congressional hearing on December 5th. “What are you doing to stop those loans?” asked a Democrat. “It’s unconscionable to me that our taxpayers should...be subsidising the Chinese growth model,” said a Republican. On this question, at least, America’s legislature is almost as harmonious as its Chinese counterpart.
America had objected to the new framework, Mr Mnuchin said. But it cannot have surprised him. In a deal struck last year, America agreed to an increase in the bank’s capital, in return for which the bank agreed to charge its richer borrowers higher interest rates, lend to them more sparingly and encourage more of them to “graduate” (ie, cease to be eligible for the bank’s loans).
But graduating from the bank is like graduating from a German university: neither brisk nor uniform; leaving behind many dauerstudenten (eternal students). Once a country reaches a national income of $6,975 per person, a “discussion” begins. The bank also considers a country’s access to capital markets and the quality of its institutions. Of the 17 countries that have graduated since 1973, five later sank back into eligibility, according to a study by the Policy Centre for the New South, a Moroccan think-tank. South Korea left in 1995, then needed the bank’s help in the Asian financial crisis. It remained eligible for further loans until 2016, when its income per person was almost three times China’s current level.
The bank will, however, lend to China more selectively. The country now owes it about $14.7bn. Over the next five years, it envisages lending $1bn-1.5bn a year, 15-40% less than it averaged in 2015-19. The new money aims to encourage fiscal reforms, private enterprise, social spending and environmental improvements. If the bank can help nudge China towards cleaner growth that will benefit everyone, including China’s geopolitical rivals. It also hopes to finance pilot projects that poorer countries can learn from. It has paid for Ethiopian officials to study China’s irrigation and Indian officials to study its trains.
But would the money not be better spent in poorer countries themselves? The bank’s friends point out that its lending to China earns a tidy profit (roughly $100m last year). It charges China a higher interest rate than it pays on its own borrowing. That is money that can then be used to help poor people who live elsewhere.
In theory, its donor governments could do all this more cheaply and simply themselves. They could issue an equivalent amount of low-yielding sovereign bonds, buy higher-yielding emerging-market securities and donate any profits to low-income countries. But that is not what critics of China’s lending are proposing.
Given the profits it can earn, the bank is eager to keep lending to China. Harder to explain is why China wants to keep borrowing from the bank. The sums are small (0.01% of GDP) and the process can be cumbersome. China may value the bank’s expertise. But if so, why not buy it without a loan attached?
There are examples of China doing just that. It bought advice on how to improve in the bank’s assessment of the ease of doing business. But China may feel a loan gives the bank more skin in the game. Consultants paid only for advice can always blame disappointments on poor implementation of their sound prescriptions. A lender has a greater stake in solving difficulties. Institutions like the bank and the IMF stress the importance of borrowers taking “ownership” of reform programmes. China may feel the same about the lenders it deigns to borrow from.
Print Pages
US Pages: 
66 65
UK Pages: 
62 61
EU Pages: 
60 59
AP Pages: 
62 61
Print Issue Volume: 
433
Print Issue Number: 
9173
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