China and India–Don’t Believe Everything You Read

November 19, 2010 Leave a comment

This is a very useful review of the successes, failures, weaknesses and challenges in both economies–China and India.  Can such systems survive without overcoming the deficiencies of corruption, centralization and rural poverty?

 

Powerful political families run many Chinese state-owned enterprises. Indeed, there is some evidence that the overwhelming majority of multi-millionaires in China are relatives of high-ranking Communist Party officials. And, thanks to the large pool of savings generated by Chinese households and state-owned companies, the Chinese economy can for the time being bear the waste and misallocation implied by such crony capitalism.

Without political reform, the long-run viability of such a system is in doubt. Premier Wen himself indicated as much in a speech in August that was widely noted abroad, but largely blacked out in Chinese media. The global media should now go further, and begin to examine the many features of the rise of China and India that depart from the simplistic narrative of the triumph of market reform.

via China and India Exposed by Pranad Bardhan – Project Syndicate.

Filed under Economy, International

Don’t US Politicians Understand This?

November 19, 2010 Leave a comment

If the Europeans continue to fight among themselves, regarding who bears what losses – and who has to face what kind of public accountability – which other countries gain on the global stage?

Who has the ready money available to recapitalize the International Monetary Fund, if needed?  And it will be needed if Spain comes under serious pressure.

Who understands the strategic concept that piles of “reserve currency” can give you great political leverage?  It is hard to find such thinking among today’s generation of American politicians.

And who is already playing international economic chess at the highest level?

China.

via Who Gains From The Eurozone Fiasco? China « The Baseline Scenario.

Filed under Economy, International

See the Letter: It’s time for changes in City Hall

November 18, 2010 Leave a comment

This letter summarizes why change in needed on the city commission and in the mayor’s office.

While this seems all too obvious to repeat, our government has a management crisis, a financial crisis and a confidence crisis, and the city has a business crisis.  The policy of “wait and see” is the current government strategy and is at risk of creating even greater unfunded financial liabilities for the taxpayers.

In short, the city of Coral Gables is in decline.

It’s time for changes in City Hall

via Letter: It’s time for changes in City Hall.

Filed under Coral Gables

Is the City Commission and the Mayor Really Doing their Homework?

November 17, 2010 Leave a comment

I wonder about this because of the few questions and comments coming from the dais during the budget hearing.

Do you puzzle over–based on questions raised or not raised–whether the city commissioners and mayor are doing their homework; I have my doubts.  It seems more often that the commissioners and mayor come to the dais without having done the detailed time-consuming homework or examination of legislation, budgets and master plan modifications, on which they are going to rule. Perhaps they assume that the boards are doing the work, but more than once the Commission goes against the decisions of the boards, or ignores their ideas completely.  So it is not that.

How many times have the commissioners and mayor raised serious questions about the budget execution during the year.  I think a very few times, if any.  Their response to citizen comments, while not entirely disrespectful, are generally testy on fundamental issues of taxes, spending, salaries, pensions, organization, etc.  Too often the presentation of the Director of Finance boarders on the insulting to taxpayers, and he seems to be operating under strict instructions of the city manager.

Why is there a culture of secrets, a closed government in the city of Coral Gables?

Why have we not gotten a report from the city manager on the purposes and progress in reorganizing government?

Why does the commission spend time on issues like leaf blowers and the Boy Scout House that seem to be simple distractions from the deeper problems of the city, a sort of entertainment for citizens.

Filed under Coral Gables

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