Tag Archive 'Trading'

Feb 13 2009

Italian Trades: Old Traditions Make Way for Cafe Culture

When I was in high school, I used to work summers at a camp… It was more of a glorified day care, but I was a teenager, and it was easy work, and by the end of summer I’d saved up $1,500.

Enough, as it turned out, to pay for a ten-day trip to Italy.

I spent three days in glorious Rome, two jam-packed days in sunny Florence, and a day at the infamous site of Pompeii… But my favorite city on the whole trip was Venice. I was taken with the pride of the gondoliers, the beauty of the winding streets, and the sudden, unexpected artesian shop.

One day I found myself standing outside a hot furnace in a glass-blower’s workshop, watching him pinch-form a beautiful green-crested horse figurine. I was enthralled, the maliablity of the hot glass, the sure hands of the artist. I thought that I’d be more than happy to stay there for the rest of my life.

Again, I was a teenager, and it was Italy… the canal-ridden beauty of Venice began to haunt me then.

I haven’t had a chance to go back yet, but judging by an International Herald Tribune article, I might find things a little changed. That glass-blower’s workshop might not be there anymore.

Turns out, some of the older traditions are being force out of the city to make way for touristy cafes and hotels.

I ask you, who would rather spend the afternoon in a Starbuck’s (SBUX:Nasdaq) than in a beautiful workshop? The plaza-side cafes have a long-established legacy, and I don’t have a beef with them. But I can’t even think of Venice without thinking of glass.

It would be a travesty if the next generation of high schoolers can’t lose themselves in the white glow of a small furnace and the hot breath of the glassblower…

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Jan 21 2009

Emerging Markets: A Blunt Reminder

I was surfing my regular news sites this morning, when I came across the following article on BBC News:

Obama speech censored in China.”

Authorities didn’t like Obama’s references to communism and silent dissent, according to the article. And certain parts were omitted from Chinese translations, like the following:

In “Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions,” the word communism was removed for Chinese translations.

And “To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history.” This sentence was deleted entirely.

It’s hard not to take offense to China deleting whole sections of our new president’s first speech. But it also serves as a blunt reminer…

As the world becomes an ever-flatter place, and emerging markets gain ground and find an equal spot at the table, it’s easy to forget that there are real differences in ideology in the world… And that those differences aren’t just limited to religious fanatics hunkered down on the border of Afghanistan and Pakistan; or a lone group of political reformists on some secluded compound in Montana. They’re engrained in the policies of some of our biggest trading partners, and some of the biggest economies in the world.

China is the largest holder of U.S. debt in the world, with $681.9 billion by the end of November 2008. That’s an increase of 48.6% over November 2007’s debt.

In fact, our debt to all other countries jumped by 32.2% in that same timeframe. But our debt to oil exporters jumped 43.5%…

As President Obama takes office, will the world work through these differences? Or will they lead to an increase in strained relations? There is no doubt that we are dealing with fundamental differences in entire systems… It will take compromise without compromising on our values.

Is that even possible?

I welcome your comments, and also, since I’m not a fan of censorship, here’s a link to President Obama’s speech, and here’s a translator for our Chinese friends… Choose English to Chinese in the drop-down menu.

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Nov 24 2008

Investing in Latin America: Global Crisis Buffer

Members of APEC, Asian-Pacifice Economic Cooperation, ended their annual summits today in Lima, Peru. One of the main topics, besides the economic crisis, was free trade.

(By the way, APEC consists of member economies like China, Vietnam, the U.S., Canada, Russia, Peru, and Chile, among others.)

Free trade is a hot topic right now, with the dreaded “P” word floating about: protectionism. Protectionism is when governments restrict or restrain international trade. Most times the intent is to protect local markets from competition.

Like if the U.S. government says a tomato farmer in Mexico can no longer export his product to the States because its so much cheaper compared to an American farmer’s product.

The 21 leaders meeting in Lima have agreed to “avoid protectionist measures and keep trade free despite the economic climate,” reports the BBC. The members signed a final declaration backing free trade on Monday.

Free trade is only part of the equation, though, and governments have also agreed to support economic stimulus plans that will boost spending.

In fact, the APEC member governments are spending hundreds of billions of dollars on ways to stop the economic crisis, says the International Herald Tribune. Not all the cards are on the table, though, and there hasn’t been a clear-cut plan held up for the public’s eye. Not yet, anyway.

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