The global elitist are not hiding or denying the New World Order anymore. GREAT, I can start wearing my tin-foil hat out in public now that it's becoming fashionable!!! L☺L! I knew it would come into style eventually.... ;) I know it's not a laughing matter. In fact, this news is actually surreal. Asian countries and Russia are seeing an opportunity for growth and advancement and are strategically grabbing it with both hands. Meanwhile our very own government is enabling our economic demise!!! Sad, just sad... :/
I have come across more and more articles from around the world openly referencing "The New World Order". Certain key figures and a select few media outlets are now starting to include that term regularly. I think like a subliminal message... slowly easing it into our vocabulary. Then BAM! It's done and nobody was the wiser.
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The Hindu
written by C.R.L. Narasimhan
Monday June 28, 2010
Asian economies, led by China and India, are in the forefront of a global recovery. According to international institutions such as the International Monetary Fund, these economies will not only make up for the stuttering growth in the developed economies but also play a key role in a future world order that will be well supported by a more robust and stable economic and financial framework.
In a speech delivered recently in Singapore*, IMF Deputy Managing Director Naoyuki Shinohara discussed the current global economic outlook and the policy challenges facing Asia. Highlights of the speech are given here.
Even though the worst economic crisis in 60 years has abated, shock waves are still being felt. The continuing European debt crisis has brought substantial volatility to the financial markets. There are three important messages from the recent experiences: (a) No country or region stands alone in today's global economy. (b) Policies and institutions must evolve with the global economy. (c) Global growth depends on a collaborative policy across countries and regions.
The lessons learnt from the crisis need to be used to forge a better balanced and more inclusive global economy in the future. Asia is well positioned to assume the leadership role, set the standards of policies, performance and collaboration in the years ahead.
Policymakers everywhere face two sets of challenges: (a) Framing policies that support global recovery and achieve a more sustainable and balanced growth path. (b) Finding ways of strengthening the international monetary system to reduce the risks of another crisis.
Uneven growth
Growth is uneven across regions and even within regions. In the developed world, growth is fragile and beset with uncertainties. The U.S. has fared better than Europe where a number of countries face problems of public finance.
The outlook is better for many emerging and developing economies. Asia is leading the way. Its growth has rebounded swiftly and output in many cases is well above pre-crisis levels.
For the first time, Asia's contribution to global recovery is outstripping that of others. But unlike before, domestic consumption, particularly household con- sumption, rather than exports, is reinforcing Asian growth. Also, instead of the slow return of capital inflows that was the norm in the past, there has been a surge. The IMF sees this as a vindication of sound economic policies pursued by many Asian countries.
Buoyed by strong recoveries in China and India, Asia is expected to post a 7 per cent growth but the pace of recovery will vary across the region.
Downside risks
The global outlook remains unusually uncertain and downside risks have increased significantly. first, many advanced economies have either run out of fiscal space for continued policy support or nearing the limit. Such financial vulnerabilities pose a threat to the global economy.
Please click HERE to read the entire article...
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Bloomberg Financial News
written by Lyubov Pronina and Lucian Kim
June 18, 2010
Russia will help lead efforts to recast the global economic hierarchy as the world emerges from the financial crisis, President Dmitry Medvedev said.
“We really live at a unique time, and we should use it to build a modern, prosperous and strong Russia, a Russia that will be a co-founder of the new world economic order,” Medvedev said at the annual St. Petersburg International Economic Forum today.
Russia will use tax incentives and other free-market economic policies to turn the country into a destination for innovators from around the world, Medvedev told an audience including Citigroup Inc. Chief Executive Officer Vikram Pandit and French Finance Minister Christine Lagarde.
Medvedev, in the third year of his presidency, is promoting modernization to transform Russia from an oil-and-gas economy into a magnet for high technology. Its reliance on natural resources exacerbated the steepest contraction among major emerging markets last year, when the economy shrank a record 7.9 percent.
The government will abolish taxes on capital gains from long-term direct investments starting next year, seeking to lure funds to reduce the economy’s energy dependence and subdue speculative capital, Medvedev said.
‘Critical’
“Such investments are critically important for modernizing the national economy and we are ready to create institutions to facilitate such investments,” he said. The government will create an investment fund within a year to help draw “strategic investors” by raising 3 rubles of private capital for each 1 ruble of state money.
“We understand that international competition is the decisive stimulus for our modernization,” the president said. “Russia should become an attractive country to which people from the whole world will come in search of their dreams.”
Foreign direct investment slipped an annual 17.6 percent to $2.6 billion in the first quarter.
Russia will cut the number of so-called “strategic enterprises,” which are restricted for foreign investors, to 41 from 208, Medvedev said.
Medvedev in March asked billionaire Viktor Vekselberg, owner of holding company Renova Group, to oversee efforts to create a Russian version of Silicon Valley in the Moscow suburb of Skolkovo, where tax breaks and other incentives will be offered to lure investment to spur innovation and production of high-technology products. Cisco Systems Inc. and Nokia Oyj plan to join the project.
Moscow ‘Hub’
Citigroup’s Pandit backed Medvedev’s plans announced last year to create a financial center in the capital.
“It’s a real opportunity to turn Moscow into a hub,” Pandit said in St. Petersburg today.
Please click HERE to read the entire article...
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