Of Politics and the Euro
April 29, 2017
GIC board member J. Paul Horne shares his comments on implications of the first round of France’s presidential election on 23 April and the likely, but not certain, outcome of the run-off between Macron and Le Pen on 7 May. The report was published by The European Institute, a Washington-based think tank promoting trans-Atlantic relations that […]
The Mar-a-lago meetings: Trump, China and – yes – Philadelphia
April 7, 2017
GIC board member Terry Cooke, Founder of the China Partnership of Greater Philadelphia, wrote an industry news column for the Philadelphia Business Journal, titled “The Mar-a-lago meetings: Trump, China and – yes – Philadelphia.” As President Donald Trump prepares to meet with President Xi Jinping for the first time this week, the world is watching closely. […]
US-Canada Border. Also Markets.
April 4, 2017
This is a BBC report about US-Canada trade and transit: bbc.com/news/world-us-canada-39449515. Behaviors have consequences, and that is true even among the best of friends. It is safe to assert that the US-Canada nation-state relationship is one of the very strongest the US has. The two countries maintain a 3000-mile border and have been allies […]
Reflecting on South America Trip
March 13, 2017
Standing where I stood to snap the photograph, a casual observer wouldn’t particularly notice the structure or reflect on its history. The tourist’s eye is attracted instead to the jungle’s green canopy, the swirling waters of the river, or monkeys and a toucan. There are no markings now on this vacant building(cumber.com/wp-content/uploads/2017/03/IMG_0487.jpg). It was originally […]
Here’s to 40 Years
January 4, 2017
As our 40th anniversary year draws to a close, I wanted to share some travel highlights of GIC’s international destinations beyond those that took place in 2016. My first opportunity to manage a program abroad took place in June 2010, during our events in Prague and Paris. For the first time, I was able to […]
Europe: Mourning and Markets
December 6, 2016
“Unsustainable things continue until they stop.” That is how Herb Stein answered Richard Nixon when Nixon asked about economic timing. The financial and economic construction of the EU and the eurozone has now reached the realm of the unsustainable. Something has to give as the boundaries of policy are stretched toward their outer limits while […]
Time to deploy the fiscal levers actively and wisely
November 30, 2016
GIC’s 2016 Frederick Heldring awardee, Catherine L. Mann of the OECD, writes: “The role of fiscal policy has been at the heart of the policy debate since the financial crisis. With the global economy stuck in a low-growth trap and monetary policy overburdened, it is time to re-assess the use of fiscal policy levers. Government interest payments […]
The Day After in Bondland
November 9, 2016
“Destiny is not a matter of chance; it is a matter of choice. It is not a thing to be waited for; it is a thing to be achieved” – William Jennings Bryan, 1899 (Democratic candidate for president in 1896, 1900, and 1908) William Jennings Bryan was never elected president, losing to William […]
Debt, GDP, Interest Rate Shock
October 24, 2016
Business Insider has compiled a colorful depiction of the largest debtor countries in the world. Here is the link: http://www.businessinsider.com/wef-countries-with-highest-level-of-government-debt-vs-gdp-2015-10. Does debt to GDP mean anything? The answer is maybe. And perhaps the second part of that answer is that it means a huge economic burden if there is intent to pay the debt back. […]
If You’re Lucky Enough to Be Irish…
October 20, 2016
‘…then you’re lucky enough,’ as the saying goes. Having grown up in a proud Irish household, with ancestors stemming from County Mayo and County Meath, I was pretty excited to plan GIC’s conference in Dublin. Our program in Ireland, held September 28-30, was the seventh out of our eight international events held in celebration of GIC’s 40th Anniversary in 2016, with the final event taking place in Madrid the following week on October 2-4.
Trade has been the Antidote to War in Europe
October 6, 2016
Business men and women, trade officials and EU bureaucrats don’t often see themselves as peace builders. Yet that is the real outcome of their professions. Without the trade they foster and make possible, the continent would not just be poorer but more violent. This might sound like a bold claim but let’s briefly put the achievement of EU trade and the single market in context.
Zika, Cuba, American Politics
October 4, 2016
Why is Zika so important that you write about it often?” I have gotten that question many times. An update on the Zika situation follows. But first let me offer an explanation as to why I write about it. I believe that health issues and disease threats offer us the chance to assess the functioning of a political system. SARS, Ebola, bird flu, and now Zika show whether or not the political system can be proactive. The quality of governance of a country is revealed, and its functionality [...]