Some thoughts on China and other news and views
False Alarm on China - The prospect of an economic meltdown in China has been sending tremors through global financial markets at the start of 2016. Yet such fears are overblown. While turmoil in Chinese equity and currency markets should not be taken lightly, the country continues to make encouraging headway on structural adjustments in its real economy. This mismatch between progress in economic rebalancing and setbacks in financial reforms must ultimately be resolved as China now enters a critical phase in its transition to a new growth model. But it does not spell imminent crisis.
China’s Bumpy New Normal - China’s shift from export-driven growth to a model based on domestic services and household consumption has been much bumpier than some anticipated, with stock-market gyrations and exchange-rate volatility inciting fears about the country’s economic stability. Yet by historical standards, China’s economy is still performing well – at near 7% annual GDP growth, some might say very well – but success on the scale that China has seen over the past three decades breeds high expectations.
Hysteria over China has become ridiculous - China is recovering but the world is not yet out of the woods. Capital outflows are dangerous wild card in China's currency drama. By Ambrose Evans-Pritchard: ... Any hint of relative optimism on China in the currently wildly-polarized mood can easily be misunderstood. My view has long been - and continues to be - that China has left it too late to wean the economy off debt-driven growth and over-investment in industry, and will therefore drift into the middle-income trap. Since China's banking system is an arm of the state, bad debts will be rolled over in perpetuity. There will be a slow loss of dynamism rather than a "Minsky" moment. It will be a denouement "a la japonaise", a landscape of soporose companies. The Communist Party may have bought another year to 18 months. If so, the reckoning has been delayed again. Optimism means nothing more than that.
Climate outlook overview - Above average February to April rainfall favoured in central and southern Australia, but drier than average in the far north; Temperatures more likely to be cooler than average in central regions but warmer in the far north and far south; Climate influences include a record-warm Indian Ocean basin, a weakening El Niño and warm sea surface temperatures around much of the Australian coastline, particularly near Tasmania
What Were The Least (And Most) Corrupt Countries In 2015? - No country is free of public corruption, a scourge that has wide-ranging effects on the lives of billions of people. But in 2015, more countries saw drops in corruption than those that saw gains, according to the new Corruption Perceptions Index.
Mexico is having the grown-up conversation about marijuana that every country should have
Hysteria over China has become ridiculous - China is recovering but the world is not yet out of the woods. Capital outflows are dangerous wild card in China's currency drama. By Ambrose Evans-Pritchard: ... Any hint of relative optimism on China in the currently wildly-polarized mood can easily be misunderstood. My view has long been - and continues to be - that China has left it too late to wean the economy off debt-driven growth and over-investment in industry, and will therefore drift into the middle-income trap. Since China's banking system is an arm of the state, bad debts will be rolled over in perpetuity. There will be a slow loss of dynamism rather than a "Minsky" moment. It will be a denouement "a la japonaise", a landscape of soporose companies. The Communist Party may have bought another year to 18 months. If so, the reckoning has been delayed again. Optimism means nothing more than that.
Rank | Country/territory | 2015 Score | 2014 Score | 2013 Score | 2012 Score |
1 | Denmark | 91 | 92 | 91 | 90 |
2 | Finland | 90 | 89 | 89 | 90 |
3 | Sweden | 89 | 87 | 89 | 88 |
4 | New Zealand | 88 | 91 | 91 | 90 |
5 | Netherlands | 87 | 83 | 83 | 84 |
5 | Norway | 87 | 86 | 86 | 85 |
7 | Switzerland | 86 | 86 | 85 | 86 |
8 | Singapore | 85 | 84 | 86 | 87 |
9 | Canada | 83 | 81 | 81 | 84 |
10 | Germany | 81 | 79 | 78 | 79 |
10 | Luxembourg | 81 | 82 | 80 | 80 |
10 | United Kingdom | 81 | 78 | 76 | 74 |
13 | Australia | 79 | 80 | 81 | 85 |
13 | Iceland | 79 | 79 | 78 | 82 |
15 | Belgium | 77 | 76 | 75 | 75 |
16 | Austria | 76 | 72 | 69 | 69 |
16 | United States | 76 | 74 | 73 | 73 |
18 | Hong Kong | 75 | 74 | 75 | 77 |
18 | Ireland | 75 | 74 | 72 | 69 |
18 | Japan | 75 | 76 | 74 | 74 |
21 | Uruguay | 74 | 73 | 73 | 72 |
22 | Qatar | 71 | 69 | 68 | 68 |
23 | Chile | 70 | 73 | 71 | 72 |
23 | Estonia | 70 | 69 | 68 | 64 |
23 | France | 70 | 69 | 71 | 71 |
23 | United Arab Emirates | 70 | 70 | 69 | 68 |
27 | Bhutan | 65 | 65 | 63 | 63 |
28 | Botswana | 63 | 63 | 64 | 65 |
28 | Portugal | 63 | 63 | 62 | 63 |
30 | Poland | 62 | 61 | 60 | 58 |
30 | Taiwan | 62 | 61 | 61 | 61 |
32 | Cyprus | 61 | 63 | 63 | 66 |
32 | Israel | 61 | 60 | 61 | 60 |
32 | Lithuania | 61 | 58 | 57 | 54 |
35 | Slovenia | 60 | 58 | 57 | 61 |
36 | Spain | 58 | 60 | 59 | 65 |
37 | Czech Republic | 56 | 51 | 48 | 49 |
37 | Korea (South) | 56 | 55 | 55 | 56 |
37 | Malta | 56 | 55 | 56 | 57 |
40 | Cape Verde | 55 | 57 | 58 | 60 |
40 | Costa Rica | 55 | 54 | 53 | 54 |
40 | Latvia | 55 | 55 | 53 | 49 |
40 | Seychelles | 55 | 55 | 54 | 52 |
44 | Rwanda | 54 | 49 | 53 | 53 |
45 | Jordan | 53 | 49 | 45 | 48 |
45 | Mauritius | 53 | 54 | 52 | 57 |
45 | Namibia | 53 | 49 | 48 | 48 |
48 | Georgia | 52 | 52 | 49 | 52 |
48 | Saudi Arabia | 52 | 49 | 46 | 44 |
50 | Bahrain | 51 | 49 | 48 | 51 |
50 | Croatia | 51 | 48 | 48 | 46 |
50 | Hungary | 51 | 54 | 54 | 55 |
50 | Slovakia | 51 | 50 | 47 | 46 |
54 | Malaysia | 50 | 52 | 50 | 49 |
55 | Kuwait | 49 | 44 | 43 | 44 |
56 | Cuba | 47 | 46 | 46 | 48 |
56 | Ghana | 47 | 48 | 46 | 45 |
58 | Greece | 46 | 43 | 40 | 36 |
58 | Romania | 46 | 43 | 43 | 44 |
60 | Oman | 45 | 45 | 47 | 47 |
61 | Italy | 44 | 43 | 43 | 42 |
61 | Lesotho | 44 | 49 | 49 | 45 |
61 | Montenegro | 44 | 42 | 44 | 41 |
61 | Senegal | 44 | 43 | 41 | 36 |
61 | South Africa | 44 | 44 | 42 | 43 |
66 | Sao Tome and Principe | 42 | 42 | 42 | 42 |
66 | The FYR of Macedonia | 42 | 45 | 44 | 43 |
66 | Turkey | 42 | 45 | 50 | 49 |
69 | Bulgaria | 41 | 43 | 41 | 41 |
69 | Jamaica | 41 | 38 | 38 | 38 |
71 | Serbia | 40 | 41 | 42 | 39 |
72 | El Salvador | 39 | 39 | 38 | 38 |
72 | Mongolia | 39 | 39 | 38 | 36 |
72 | Panama | 39 | 37 | 35 | 38 |
72 | Trinidad and Tobago | 39 | 38 | 38 | 39 |
76 | Bosnia and Herzegovina | 38 | 39 | 42 | 42 |
76 | Brazil | 38 | 43 | 42 | 43 |
76 | Burkina Faso | 38 | 38 | 38 | 38 |
76 | India | 38 | 38 | 36 | 36 |
76 | Thailand | 38 | 38 | 35 | 37 |
76 | Tunisia | 38 | 40 | 41 | 41 |
76 | Zambia | 38 | 38 | 38 | 37 |
83 | Benin | 37 | 39 | 36 | 36 |
83 | China | 37 | 36 | 40 | 39 |
83 | Colombia | 37 | 37 | 36 | 36 |
83 | Liberia | 37 | 37 | 38 | 41 |
83 | Sri Lanka | 37 | 38 | 37 | 40 |
88 | Albania | 36 | 33 | 31 | 33 |
88 | Algeria | 36 | 36 | 36 | 34 |
88 | Egypt | 36 | 37 | 32 | 32 |
88 | Indonesia | 36 | 34 | 32 | 32 |
88 | Morocco | 36 | 39 | 37 | 37 |
88 | Peru | 36 | 38 | 38 | 38 |
88 | Suriname | 36 | 36 | 36 | 37 |
95 | Armenia | 35 | 37 | 36 | 34 |
95 | Mali | 35 | 32 | 28 | 34 |
95 | Mexico | 35 | 35 | 34 | 34 |
95 | Philippines | 35 | 38 | 36 | 34 |
99 | Bolivia | 34 | 35 | 34 | 34 |
99 | Djibouti | 34 | 34 | 36 | 36 |
99 | Gabon | 34 | 37 | 34 | 35 |
99 | Niger | 34 | 35 | 34 | 33 |
103 | Dominican Republic | 33 | 32 | 29 | 32 |
103 | Ethiopia | 33 | 33 | 33 | 33 |
103 | Kosovo | 33 | 33 | 33 | 34 |
103 | Moldova | 33 | 35 | 35 | 36 |
107 | Argentina | 32 | 34 | 34 | 35 |
107 | Belarus | 32 | 31 | 29 | 31 |
107 | Cote d'Ivoire | 32 | 32 | 27 | 29 |
107 | Ecuador | 32 | 33 | 35 | 32 |
107 | Togo | 32 | 29 | 29 | 30 |
112 | Honduras | 31 | 29 | 26 | 28 |
112 | Malawi | 31 | 33 | 37 | 37 |
112 | Mauritania | 31 | 30 | 30 | 31 |
112 | Mozambique | 31 | 31 | 30 | 31 |
112 | Vietnam | 31 | 31 | 31 | 31 |
117 | Pakistan | 30 | 29 | 28 | 27 |
117 | Tanzania | 30 | 31 | 33 | 35 |
119 | Azerbaijan | 29 | 29 | 28 | 27 |
119 | Guyana | 29 | 30 | 27 | 28 |
119 | Russia | 29 | 27 | 28 | 28 |
119 | Sierra Leone | 29 | 31 | 30 | 31 |
123 | Gambia | 28 | 29 | 28 | 34 |
123 | Guatemala | 28 | 32 | 29 | 33 |
123 | Kazakhstan | 28 | 29 | 26 | 28 |
123 | Kyrgyzstan | 28 | 27 | 24 | 24 |
123 | Lebanon | 28 | 27 | 28 | 30 |
123 | Madagascar | 28 | 28 | 28 | 32 |
123 | Timor-Leste | 28 | 28 | 30 | 33 |
130 | Cameroon | 27 | 27 | 25 | 26 |
130 | Iran | 27 | 27 | 25 | 28 |
130 | Nepal | 27 | 29 | 31 | 27 |
130 | Nicaragua | 27 | 28 | 28 | 29 |
130 | Paraguay | 27 | 24 | 24 | 25 |
130 | Ukraine | 27 | 26 | 25 | 26 |
136 | Comoros | 26 | 26 | 28 | 28 |
136 | Nigeria | 26 | 27 | 25 | 27 |
136 | Tajikistan | 26 | 23 | 22 | 22 |
139 | Bangladesh | 25 | 25 | 27 | 26 |
139 | Guinea | 25 | 25 | 24 | 24 |
139 | Kenya | 25 | 25 | 27 | 27 |
139 | Laos | 25 | 25 | 26 | 21 |
139 | Papua New Guinea | 25 | 25 | 25 | 25 |
139 | Uganda | 25 | 26 | 26 | 29 |
145 | Central African Republic | 24 | 24 | 25 | 26 |
146 | Congo Republic | 23 | 23 | 22 | 26 |
147 | Chad | 22 | 22 | 19 | 19 |
147 | Democratic Republic of the Congo | 22 | 22 | 22 | 21 |
147 | Myanmar | 22 | 21 | 21 | 15 |
150 | Burundi | 21 | 20 | 21 | 19 |
150 | Cambodia | 21 | 21 | 20 | 22 |
150 | Zimbabwe | 21 | 21 | 21 | 20 |
153 | Uzbekistan | 19 | 18 | 17 | 17 |
154 | Eritrea | 18 | 18 | 20 | 25 |
154 | Syria | 18 | 20 | 17 | 26 |
154 | Turkmenistan | 18 | 17 | 17 | 17 |
154 | Yemen | 18 | 19 | 18 | 23 |
158 | Haiti | 17 | 19 | 19 | 19 |
158 | Guinea-Bissau | 17 | 19 | 19 | 25 |
158 | Venezuela | 17 | 19 | 20 | 19 |
161 | Iraq | 16 | 16 | 16 | 18 |
161 | Libya | 16 | 18 | 15 | 21 |
163 | Angola | 15 | 19 | 23 | 22 |
163 | South Sudan | 15 | 15 | 14 | N/A |
165 | Sudan | 12 | 11 | 11 | 13 |
166 | Afghanistan | 11 | 12 | 8 | 8 |
167 | Korea (North) | 8 | 8 | 8 | 8 |
167 | Somalia | 8 | 8 | 8 | 8 |
Environment vs. Economy: A Shift in American Opinion - Consider how you would answer this question from the Gallup poll organization: "With which one of these statements about the environment and the economy do you most agree--protection of the environment should be given priority, even at the risk of curbing economic growth (or) economic growth should be given a priority, even if the environment suffers to some extent?"
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