Economisch weerbericht (64): Nieuwe tijden, nieuwe kansen

1 januari 2010, 08:55

Het was de slogan van Newconomy, maar het kwam er niet van. Geen “nieuwe tijden” en al zeker geen “Nieuwe Economie”. Heel veel optimisme, maar dat is ons de afgelopen tien jaar door de vingers geglipt. Eigenlijk zijn we alleen maar afgegleden. Een verloren decennium, geen greintje euforie meer over. Op www.hetjaar2055.nl na misschien, de site waar 15 januari 2010 “Het Grote 2055 Millenniumdebat” losbarst. Dat vertelt ook precies hoe laat het is: zeker een halve eeuw valse start, en daarna? Geen flauw idee. Eén ding is helder: na Kopenhagen is klimaatverbetering een gelopen race en dat betekent straks geheid ellende en volksverhuizingen.

Door de eeuwen heen heeft de vooruitgang socialisering en weelde opgeleverd. Steeds meer mensen konden langer leven en werden gehoord. De sociale structuur veranderde en die beweging is de afgelopen tien jaar in de versnelling geraakt. Dank zij internet. Wat we daar zien, is een afspiegeling van het echte leven. Het meeste zien we namelijk niet. Wat dat betreft, is het “deep Web” als de oceanen. Wat we wel zien, ontwikkelt zich niet volgens hoogstaande normen en democratische idealen. Karikaturaler dan ooit legt internet het wezen van de mens bloot. Niet alleen “vriendschap is een illusie”, over de hele linie zijn we “een pakketje schroot met een dun laagje chroom”. Het mooie is wel, dat we onszelf nog beter kunnen bestuderen en kennen. Vandaar een initiatief als www.webscience.org. Media zijn de spiegel van de ziel, zeker wanneer iedereen daar zo maar ongebreideld de beschikking over heeft.

Economie in het slop, het financiële systeem in het slop, klimaat en energie in het slop, en nieuwe media die vooral aantonen, dat we nog minder lieverdjes zijn dan we al wisten. Overal zitten hoogwaardigheidsbekleders met de handen in het haar, want met hoge waarden lijkt het definitief gedaan. Figuurlijk en letterlijk. De 1 euro-aanbiedingen van de C1000 vliegen je om de oren en de digitale virtualisering heeft gratis tot norm verheven. Hoezo “nieuwe tijden, nieuwe kansen”? Wat kunnen we ons daar aan het begin van het nieuwe decennium nog bij voorstellen? Het antwoord is doodeenvoudig. Nog sneller dematerialiseren. Zo veel mogelijk bits en zo min mogelijk atomen: Travelling Light 2.0. Digitale technologie in de versnelling gooien, zoals beschreven in de publicaties op www.fourthparadigm.org en www.smart2020.org.

Als er één revolutie is, die bij volle bewustzijn maar zonder er erg in te hebben haar eigen kinderen heeft gegeten, dan is het wel de industriële. Plus ook nog de hand die haar voedde, onze planeet. De hoogste tijd dus voor PPP 2.0, voor People, Planet, Profit op basis van ICT en internet. Zo simpel moet de boodschap zijn. Als we erin slagen om het komende decennium te focussen op de noemer van PPP 2.0, dan komt het sociaal, economisch, financieel en ecologisch misschien toch nog een klein beetje goed. Maar ik heb er een hard hoofd in.

Jaap Bloem
Research Director Sogeti/VINT bij Sogeti/VINT

Jaap Bloem is in IT since the PC and now a Research Director at Sogeti/VINT. In his days at KPMG Consulting he co-founded the IT Trends Institute. Jaap was a publisher of IT books and editor in chief of IT magazines at Wolters Kluwer. Before coming to VINT, Jaap was the Marketing Executive for the Dutch Chapter of ISOC, the Internet Society. Jaap has co-authored many books and articles, and loves to develop and evangelize ground-breaking thought and insight together with colleagues and partners. Jaap Bloem is in augustus 2018 overleden.

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399 Reacties

    Arnoud Rademaker

    Prachtig Jaap: ‘Door de eeuwen heen heeft de vooruitgang socialisering en weelde opgeleverd. Steeds meer mensen konden langer leven en werden gehoord.’Als we onze zegeningen tellen, dan hoeven we bij wijze van spreken alleen maar de welvaart van de jaren tachtig te omarmen om uit deze crisis te geraken. We zijn zo gewend aan alle nieuwe luxe, dat we tegenwoordig alles als een noodzakelijke levensbehoefte beschouwen.

    Er is weer een periode aangebroken waarin we over elkaar heen buitelen met voorspellingen en prognoses. We doen er allemaal aan mee, van waarzegger tot wetenschapper. Blijkbaar hebben we er behoefte aan om de wereld om ons heen te begrijpen en hebben we er vooral behoefte aan om er vat op te houden. Analisten mogen weer hun woordje ook weer doen. Heeft u ooit uitmondde van deze beroepsgroep wel eens aan het begin van het jaar het volgende advies gekregen: ‘Beste mensen, het wordt een jaar van niets, verkoop alles en ga lekker sparen, het lijkt ons het beste als u over een jaar of tien eens terugkomt. Tot dan!’

    De AEX is tijdens het voorbije decennium grofweg gehalveerd van circa 700 naar 335. Beleggen is toch iets voor de lange termijn? Degenen die eind 1999 hun aandelen hadden verkocht en vervolgens zijn gaan sparen, hadden toen een juiste lange termijnbeslissing genomen. Spaarders hebben het afgelopen decennium, ten opzichte van beleggers, zes procent meer rendement ontvangen. Dat is een heel groot verschil.

    Mensen zijn helemaal niet op zoek naar een prachtige voorspelling. Nee, integendeel! Vaak zijn we gewoon op zoek naar bevestiging. Als er wordt gezegd dat je belegd voor de lange termijn, dan wordt daar weer een hoopvol signaal afgegeven. Degenen die zich daaraan vastklampen hopen op forse koerswinsten. Ze stappen in en hopen er maar weer het beste van.

    Weinig mensen realiseren zich dat de schrijvende financiële pers, analisten, banken en allerlei andere adviseurs voor eigen parochie spreken. Zij verdienen hun geld ermee. Beleggers die zich in deze wereld thuis voelen, en zich bij hen aansluiten, zullen op verjaardagen en partijtjes verwoede pogingen doen om met enige financiële kennis de ogen te openen van de financieel ongeletterde oom, buurman of rijke broer. Voor je het weet ben je een Goeroe!

    Het afgelopen jaar is er op economisch terrein heel wat geëxperimenteerd. De experimenten met moeilijk te doorgronden financiële producten zijn zodanig mislukt, dat daarmee ook de reële economie is geraakt. Niet voor niets zitten we in een kredietcrisis. De schulden worden op dit moment overgenomen door overheden. Allerlei maatregelen zijn en worden op touw gezet. Voorbeelden hiervan zijn: de deeltijd-WW, een verhoging van de AOW-leeftdijd en er zal wel gemorreld worden aan de hypotheekaftrek!

    Op basis van het gegeven dat we het eigenlijk ook allemaal niet meer weten, is het volgens mij onmogelijk om een juiste voorspelling te doen. Moeten we dan als konijnen passief naar de koplampen van een aanstormende auto kijken? Nee natuurlijk niet. Trek uw eigen plan. Bouw stap voor stap aan uw financiële toekomst. Of zoals Jaap dat zo mooi zei toen we het over succesvolle mensen hadden: ‘Ze rijgen kralen (van succes)’. Ook op de beurs kunt u de komende 10 jaar uw kralen rijgen, mits u met een beleggingsstrategie werkt. Bijvoorbeeld door aandelen te selecteren die een hoogdividendrendement hebben.

    Helaas, we leren niets van de geschiedenis. Daarom zal er altijd sprake zijn van een beurscyclus. Op de top kopen mensen gretig in omdat het dit keer toch echt heel anders is. Beleggers maken in aanloop naar de top vaak schulden om aandelen te kopen. Als de boel dan in elkaar klapt, zijn sommigen zijn totaal verbijstert. Nee, deze neergang hadden de analisten, de financiële pers, de politici echt niet verwacht. Zelfs de Goeroe hoor je op verjaardagen niet meer. Behalve als het gaat over zijn nieuwe hobby.

    Misschien is op dat moment het juiste moment aangebroken om weer eens voorzichtig naar uw beleggingsstrategie te kijken. Bouw langzaam maar zeker aan uw (financiële) welzijn, dat is misschien wel belangrijker dan rijkdom. Bent u al klaar met uw kralenketting?


    1 januari 2010 om 09:27
    Maarten van Leeuwen

    People planet en profit!

    ’t Is mogelijk:

    http://www.pifworld.com – charity 2.0

    http://www.fairconnect.nl – food 2.0

    Er zijn mensen de afgelopen 10 jaar al met hele positieve dingen bezig geweest. Dit is tot nu toe redelijk low profile gebeurd.

    De inzet van nieuwe technologie en media biedt kansen, maar grumpy old managers blijven vasthouden aan oude normen en waarden ten aanzien van marketing en communicatie.

    Het is aan online marketeers en communicatie professionals om people planet en profit te introduceren als de successtory vande komende jaren.

    Crowdsourcing, co-creatie en de inzet van nieuwe technologie en media zullen het verschil gaan maken. Samen maken we het verschil.

    Groet,

    Maarten

    PS happy new year!


    1 januari 2010 om 09:50
    JaapBloem

    Gisteren zat ik met Lourens te lunchen – nou ja om 14 uur dus, met studenten moet je niks afspreken. Voor het allereerst in 2009 nam ik een paar kranten door. Trouw, NRCnext, Volkskrant, een stel trendy katernen. Ik betrapte me op mijn gedachte: ik wil niet dat er zo voor mij wordt gedacht. Wat word ik hier moe van.

    Vermoedelijk is dit de kern van de nieuwe tijd, want deze morgen had ik het weer. Kijk je naar het Nieuwjaarsconcert en hoor je van de as die er ooit was tussen Wenen en Parijs: Strauss aan de ene kant en Offenbach aan de andere. Daar zie je dan die mensen op hun instrumenten – symfonieorkest heet dat.

    Hoe lang is het niet zo geweest? De enige uiting het muziekinstrument. De panfluit, de citer, die je bespeelde. Vanuit je onderbuik. Kletsen met elkaar, tekeningetjes maken op grotwanden, en muziek. Schrijven kon niemand. Laat staan al blijvend denken: gedachten hebben die beklijven. Dingen zinvol delen.

    En nu? Nu word je moe van een krant of twee, van de radio, en de tv. Een fundamentele verandering heeft zich voltrokken. Met name het afgelopen decennium. Dit is de nieuwe tijd, Die van e-mancipatie: van digitale mondigheid. Alles ligt vast in bits en bytes en vliegt tegelijkertijd chaotisch heen en weer. Geld, ideeën, muziek.

    Maar het is nog te weinig. De bestemming van de mens is virtualisatie: zichzelf ontstijgen, maar dan heel praktisch. Geen vage filosofie. Het stoffelijke is nu wel meer dan klaar. De kansen liggen in de bits. Daarmee beginnen hele andere tijden. Travelling Light 2.0. Dat is echt het allerbeste voor People, Planet en Profit. De communicatiecomponent daarvan, de creatieve destructie van oude media, hebben we ingezet in het afgelopen decennium. Nu doorpakken dus.


    1 januari 2010 om 11:57
    Arnoud Rademaker

    Het voorspellen van beurskoersen is niet voor iedereen weggelegd. Van de dertig analisten, wisten maar enkele analisten een score te realiseren meer dan 50 procent. De rest zat er dus simpelweg naast. Anders gezegd: ‘De helft van hun prognoses liepen fout af.’ Kan dat niet anders? Ja, natuurlijk! Opvallend is de tweede positie van de gedragswetenschappers ‘Beurscyclus’. Een kolfje naar mijn hand.

    Jaap, moeten we met EW meedoen? We kunnen een hoger resultaat behalen als ons dividendrendement hoger is dan de rente op een spaarrekening? Wij doen geen voorspellingen, maar spelen eens per kwartaal in op actuele ontwikkelingen. Dan selecteren we een paar aandelen die volgens openbare criteria geselecteerd worden. Desnoods maken we alleen een mandje met uitgevers (lol). Als de omstandigheden het toelaten of vereisen verkopen we onze voorbeeldportefeuille tussentijds. Met deze (saaie) strategie hebben de lezers van EW alleen veel geduld nodig. Is dat niet een mooi voorbeeld van het rijgen van kralen? Daar is het beleg op een welverdiende boterham mee te verdienen.

    Tweede plek voor Beurscyclus:

    http://www.beurscyclus.nl


    1 januari 2010 om 14:38
    Arnoud Rademaker

    Sorry, verkeerde link. Zie: http://www.analistenoverzicht.nl/index.html


    1 januari 2010 om 14:39
    Arnoud Rademaker

    Ja, dat is nog mooier. Dan selecteren we een aantal Nederlandse aandelen. Immers, de bron en informatie moet heel erg toegankelijk en toetsbaar zijn. Het enige waar ik geen heldere informatie over kan geven is over de fase van de beurscyclus. Deze is zoals je weet voor velerlei interpretatie vatbaar. Daar is geen vaste norm voor aan te leggen. We kunnen natuurlijk wel andere criteria aanleggen voor een mandje ‘Bitseconomie’. Nieuwe tijden, nieuwe beleggingskansen. Geweldig interessant.


    1 januari 2010 om 15:23
    Arnoud Rademaker

    Enne, ik snap niet dat zo’n serieuze zender zich inlaat met een mandje casinoaandelen. Dan verkwansel je toch al je respect op economische kennis. Als alles op de gok moet, stop dan met uitzenden!


    1 januari 2010 om 15:26
    JaapBloem

    Begrijp het ook niet helemaal. Misschien is de onbewuste overtuiging wel: niet nadenken en veel oh-en is een garantie voor slapend rijk worden. Ach ja, ze blijven ouwe media 😉


    1 januari 2010 om 15:41
    JaapBloem

    !!!HEAR HEAR!!! Maarten van Leeuwen:

    “Het is aan online marketeers en communicatie professionals om people planet en profit te introduceren als de successtory vande komende jaren. Crowdsourcing, co-creatie en de inzet van nieuwe technologie en media zullen het verschil gaan maken. Samen maken we het verschil.”


    1 januari 2010 om 15:50
    Arnoud Rademaker

    Jaap, het bijzondere is dat ik een paar keer serieus heb gemaild met Mathijs Bouman. Hij neemt de kijkers serieus. Hij antwoord heel snel en geeft een inhoudelijke respons op mijn mail. Kortom, ik heb veel respect voor hem. Maar ja, hij is economisch geschoold en is natuurlijk geen eindredacteur.

    Ik denk dat we elkaar kunnen aanvullen. Jij weet veel van de Bitseconomie of van PPP2.0, zodat we samen iets fundamenteels en koerstechnisch kunnen doen. Niets gokken, gewoon op basis van heldere gegevens. Alleen, die beurscyclus blijft een gok. Maar ja, dat is een nieuwe partner ook 😉


    1 januari 2010 om 15:54
    JaapBloem

    Nieuwe partner met onregelmatige cycli betekent dat je straks opeens een paar monden extra te vullen hebt als je niet uitkijkt. Laat ik nou best van dat soort gokjes houden 😉 ENNNN: dit is een leuke manier voor marketeers die in 2010 in de problemen komen om het uit te kunnen zingen tot de volgende Kondratieff.


    1 januari 2010 om 16:13
    Arnoud Rademaker

    Jaap, de laatste cyclus duurde circa 72 maanden (2003-2009). Veel langer dan gebruikelijk. Als de lengte van de vorige lange cyclus wordt gecorrigeerd door een korte cyclus omdat een cyclus normaal gesproken ongeveer 48 maanden duurt, dan zouden we over een maand of 15 veel lager staan, dan nu het geval is.

    Verschillende indicatoren op macro-economisch niveau, koerstechnisch niveau, de waarde bepaling van aandelen ten opzichte van het verleden en het gedrag van beleggers duiden op de komst van een correctie en eventueel een nieuwe bearmarkt. Het FD neemt alvast een voorschot door op de voorpagina ( http://www.fd.nl/home/ , 02/01/2010) de visie van Ben Vewaayen te citeren en te schrijven over noodzakelijke bezuinigingen die vermoedelijk onze koopkracht nog verder zullen aantasten.

    Ik denk dat we nu al bezig zijn met het nemen van een aanloop voor een nieuwe Kondratieff-cyclus. Onderhuids broeit er wat. Het is nog niet zichtbaar maar je voelt dat er veranderingen op komst zijn. Nieuwe tijden, nieuwe kansen. Geen sombermanpraat maar inspelen op nieuwe ontwikkelingen. Het heeft ook jaren geduurd voordat het internet tot een algemeen en een niet meer weg te denken fenomeen is uitgegroeid.

    Het zal me niet verbazen als we na een volgende cyclusbodem versnelt kennis zullen maken met nieuwe producten. De opkomst van de elektrische auto en de opkomst van nieuwe toepassingen op het gebied van alternatieve energie zullen dan versneld en algemeen geaccepteerd worden toegepast, zo verwacht ik. En voor al het andere, houd jij ons op de hoogte 🙂 .

    Ook in 2010 zal de beste investering blijken te zijn: een investering in je partner. Op dat gebied moet je zo min mogelijk desinvesteren. Het kost bakken vol geld en voor je het weet sta je weer aan de rand van het zwembad te applaudisseren 🙂


    2 januari 2010 om 12:39
    JaapBloem

    Macro PPP2.0: http://www.stiglitz-sen-fitoussi.fr >> The Commission on the Measurement of Economic Performance and Social Progress has been installed to identify the limits of GDP as an indicator of economic performance and social progress, including the problems with its measurement; to consider what additional information might be required for the production of more relevant indicators of social progress; to assess the feasibility of alternative measurement

    tools, and to discuss how to present the statistical information in an appropriate way.


    3 januari 2010 om 11:24
    Arnoud Rademaker

    Een mooie ontwikkeling, vooral omdat er hiermee rekening wordt gehouden met sociologische en of psychologische tendensen die van invloed zijn op de beleving van ‘welvaart, welstand en welzijn’. De Franse regering maakt zich terecht zorgen! Er lijkt een steeds grote discrepantie te ontstaan tussen het behouden of bevorderen van onze welvaart en het realiseren van een gevoel van welbevinden. Of stapelen de problemen zich juist daardoor op?

    We leven in een zeer rijke samenleving. In zo’n maatschappij zou je verwachten dat druggebruik, het gebruik van antidepressiva, het alcoholgebruik of het comazuipen, het ontstaan van een polariserende samenleving, hebzucht en milieuvervuiling veel minder voorkomt dan nu het geval is.

    Het lijkt erop dat we de piramide van Maslow vanaf de jaren tachtig langzaam maar zeker en treetje voor treetje weer aan het afdalen zijn. Het gebruik van genoemde middelen is volgens mij toch vooral bedoeld om lichamelijke behoeften te bevredigen. Het liefst zitten we met een zak chips op de bank te zappen, in plaats van zelf iets (onzinnigs op MF) te produceren.

    Zelfs in de wielrennerij schijnen er steeds minder vaak talentvolle jongeren opgemerkt te worden omdat de jeugd ten opzichte van vroeger minder in staat is om af te zien en door te zetten. Wat dat betreft zie ik uit naar het WK voetbal. Ik krijg de indruk dat de rijke voetballanden steeds vaker verrast worden door kleine onbetekende en arme opkomende landen. Met dank aan coach Guus Hiddink.

    Goed dat er een commissie in het leven is geroepen die tot doel heeft om onze economische prestaties te meten, maar ook de vooruitgang meet van een sociale vooruitgang.


    3 januari 2010 om 12:37
    JaapBloem

    eens goed gekeken naar http://www.stiglitz-sen-fitoussi.fr/documents/rapport_anglais.pdf. kern is dit:

    “The first main message of our report is that time has come to adapt our system of measurement of economic activity to better reflect the structural changes which have characterized the evolution of modern economies. In effect, the growing share of services and the production of increasingly complex products make the measurement of output and economic performance more difficult than in the past. There are now many products whose quality is complex, multi-dimensional and subject to rapid change. This is obvious for goods, like cars, computers, washing machines and the like, but is even truer for services, such as medical services, educational services, information and communication technologies, research activities and financial services. In some countries and some sectors, increasing “output” is more a matter of an increase in the quality of goods produced and consumed than in the quantity. Capturing quality change is a tremendous challenge, yet this is vital to measuring real income and real consumption, some of the key determinants of people’s material well-being. Under-estimating quality improvements is equivalent to over-estimating the rate of inflation, and therefore to under-estimating real income. The opposite is true when quality improvements are overstated.”

    dit is al met al grote onzin. verschilt per bevolkingsgroep, per persoon en zelfs per moment. als jij een biertje op hebt, een prozacje of een jointje achter de knopen — maak mijn argument maar af. de meeste mensen zijn bijzonder tevree met sex & drugs & rock ’n roll, met amerikanen vermoorden, of deense cartoonisten. om in dit soort contexten te praten over “under-estimating quality improvements is equivalent to over-estimating the rate of inflation, and therefore to under-estimating real income. The opposite is true when quality improvements are overstated” is echt je reinste flauwekul.

    = = =

    om het op 1 noemer te brengen: “material well-being” is een contradictio in terminis. het doel van de mens is virtualisatie: zichzelf ontstijgen. in patat, sigaretten, bier, cannabis, pillen, poeders, religie, politiek, sex, tv, internet, familie, iets anders of een combinatie daarvan. adrenalin rulez en alle rest is flauwekul.

    het in alle opzichten schoonste vehikel voor virtualisatie zijn bits. “material well-being” — hoe komen ze erbij. materie is slechts een vuil vehikel voor virtualisatie.

    = = =

    om het nog anders te zeggen: het gaat hier om politiek en niet om economie, twee zaken die je nooit los van elkaar kunt zien. het gaat erom de driften van de mens te beteugelen met als doel het beste voor het collectief. in de extremistische islam is dat wat anders dan op urk.

    zie ook: http://www.rtl.nl/(/financien/rtlz/home/)/components/financien/rtlz/redactie/column/124_column_heert_extremisten_islam_schiphol.xml

    = = =


    3 januari 2010 om 12:49
    Arnoud Rademaker

    Bedoel je dat het een politieke truc is om de statistieken te beïnvloeden? Bijvoorbeeld om een achteruitgang van het BBP in opwaartse zin te corrigeren met onmeetbare sociologische en een psychologische vooruitgang?

    Zelf zie ik er wel wat in. Immers, de geschiedenis leert ons dat het verval, na een periode van overvloed, veelal gepaard gaat met passiviteit, behoudzucht, onderlinge twist en een hang naar ongebreideld genot. We willen alleen maar meer, en slechts zelden iets inleveren.

    De Chinezen pakken het anders aan. Ze zijn volgens mij zo succesvol, ook op internationaal vlak, omdat ze (hoe we er ook over mogen denken) barrières weten te slechten ten opzichte van ontwikkelingslanden en voor ons nieuwe barrières weten op te werpen. We hebben het er al vaker over gehad, maar wij konden wel eens in het westen te maken krijgen met een tekort aan zeldzame mineralen. Waarom? Zou het zo kunnen zijn dat we Afrika alleen maar op basis van ons (economisch) machtsvertoon hebben uitgebuit door handelsbarrières op te richten. En, hoe moeilijk is het voor een kleine uitvinder om iets (tegen alle regelgeving in) op de markt te zetten, bijvoorbeeld als het gaat om alternatieve, maar clandestiene, brandstof?


    3 januari 2010 om 13:12
    JaapBloem

    Economie en sociale vooruitgang — heel mooi op het eerste gezicht maar goed beschouwd is het op het randje van wat je met droge ogen kunt beweren. Natuurlijk hebben ze in Frankrijk liever niet dat de Parijse voorsteden jaarlijks van auto’s worden gezuiverd. En uiteraard is het zo, dat in een volstrekt ondermaatse economie de kans op sociale onrust groot is. En als de economie draait om betaald werk, dan is werkloos zijn heel vervelend. Waar het mij om gaat, zijn alle contingente factoren die sociale vooruitgang en levenskwaliteit bepalen. Plus de enorme ideologische beladenheid van die twee begrippen.

    Stiglitz/Sen/Fitoussi realiseren zich terdege dat ze zich op glad ijs begeven (zie p. 143 e.v.), maar hadden wat mij betreft helemaal niet moeten beginnen aan de objectieve studie van economie en sociale vooruitgang. Wat het project op zichzelf aantoont, is dat er kennelijk hele diepe problemen zitten. Naar mijn smaak moet je die oplossen vanuit de politiek, vanuit de ideologie, in plaats van er halfwetenschap tegenaan te gooien.

    Voor een bepaald grondgebied geldt een stel basiswaarden en vandaaruit bepaal afhankelijk van de problemen je maatregelen. Kom hier gewoon voor uit, zou ik zeggen; doe je ding en ga het debat aan. Natuurlijk zullen er net als bijvoorbeeld in het geval van de digitale economie zaken zijn die je ten minste zult willen meenemen in een assessment van economie annex sociale vooruitgang. Maar, zoals je net aanstipte Arnoud, verwendheid, verweking en antisociaal gedrag zijn vaak het gevolg van welvaart en alles zo’n beetje aangewaaid krijgen.

    In de complexe samenlevingen van vandaag zijn er in toenemende mate geen oplossingen. Wel maatregelen. Continu staan we voor de keus hoe te handelen. Geluk en sociale cohesie (vooruitgang zo je wilt) staan en vallen bij willen/moeten presteren/excelleren. En bij opgevoed zijn met als basiswaarde dat je de ander het licht in de ogen gunt en je leefomgeving respecteert. Als dat een beetje goed zit, is er geen behoefte om beter te meten. Wat mij betreft moet PPP 2.0 daarom onmiddellijk het fundament en de focus worden van educatie en prestatie.

    Op een overbevolkte planeet is dit geen kwestie van inwisselbare ideologie, maar van noodzaak.


    3 januari 2010 om 14:33
    Arnoud Rademaker

    Pakt de IJslander zijn kans? De laatste jaren worden verliezen afgewenteld op de belastingbetaler, in plaats dat banken en bedrijven zelf de lasten dragen voor geleden verliezen. Met een zorgvuldig afgewogen risicobeleid, een groeimodel op basis van organische groei in plaats van met geleend geld vreselijke dure overnamepremies te betalen, een goed gevulde stroppenpot of acceptabele reserves, en door alleen bij winst bonussen uit te keren, zou er toch geen beroep gedaan hoeven te doen op de belastingbetaler?

    Is het terecht dat de IJslander niet wil opdraaien voor de verliezen van de banken ‘Icesave en Lansbanki’? Ik begrijp de woede, het onbegrip, de teleurstelling en de commotie die bij alle partijen opborrelen. Ook bij Wouter Bos. Anderzijds kunnen we ons de volgende vragen stellen:

    – Hoe degelijk was het risicobeleid van de twee genoemde banken?

    – Hoe werd de groei gefinancierd van deze banken?

    – Was hun stoppenpot groot genoeg?

    – Hoe was het bonusbeleid bij deze banken geregeld?

    Wat mij betreft is er sprake van een complexe materie waarvan de vraag niet zo eenvoudig is te beantwoorden.


    5 januari 2010 om 13:12
    Arnoud Rademaker

    Jaap, en andere lezers. Het Algemeen Dagblad (05/01/2010) heeft de moeite genomen om aandacht te besteden aan vijf crisisboeken. Het boek van Willem Middelkoop ‘Overleef de kredietcrisis’ lijkt me wat te somber, maar enkele andere boeken spreken me wel aan. Vooral het boek ‘De daders en de meelopers’ van Gerard Driehuis lijkt me een interessant boek.


    5 januari 2010 om 14:00
    Arnoud Rademaker

    Jaap, ik snap de woede van de IJslanders wel. Wij morren toch ook over de AOW. Niet voor niets betalen wij het gelach van een explosief stijgende staatschuld. Met dank aan Wouter Bos. De staatschuld stijgt omdat ook wij garant willen staan voor de gevolgen van het roekeloze gedrag van bankiers. Niet voor niets staan de coalitiepartijen op verlies. De kiezer is niet dom, zo lijkt me.


    5 januari 2010 om 16:16
    Arnoud Rademaker

    Eindelijk, ook eens goed nieuws. De oprichters van Binck hebben de aanval geopend op de verzekeraars. Met het product ‘Banksparen’ willen zij de markt veroveren, evenals zij dat hebben gedaan met hun BinkBank. Ik ken de jongens, overigens kennen zij mij niet :-), vanaf de jaren tachtig. Wat me indertijd opviel was het enorme enthousiasme en hun toegankelijkheid. Ze waren toen nog aaibaar en aanspreekbaar. Dat zal nu wel anders zijn. Ach, ze zijn ook wat ouder geworden. Ik hoop dat ze met hun nieuwe product ‘Banksparen’ zeer succesvol zijn! Heren Schaap en Begijn, ga d’r voor!

    Jaap, dit was mijn laatste bijdrage voor deze week. Tot vrijdag!


    5 januari 2010 om 17:08
    CJ

    Heren, dank voor jullie beiden bijdragen. Vond deze EW sterk, mede dankzij het goede commentaar.

    Groet,

    CJ


    7 januari 2010 om 02:50
    JaapBloem

    Dank Cj, en hoe is het daar in het nieuwe jaar, zo ver in den vreemde?


    7 januari 2010 om 06:12
    jackggxicdgvteyro

    He also warned that many European banks could go under if they had to accept the “haircut” on their sovereign debt holdings that has been proposed in some quarters. gucci アウトレット A: We’re confident we can retain the right people we want. I have heard stories of other banks trying to poach our people, but the actual turnover rate is low. For us, the biggest challenge is to hire the right people. Bringing in new blood that suits Citi’s culture on a scale to match our growth momentum in China is one big challenge for me. エアジョーダン Prime Minister Mariano Rajoy said the authority would also help ease Spain’s woes which, along with the prospect of a Greek euro exit, have threatened to derail the single currency project. クリスチャンルブタン 靴 The Shanghai Composite Index shed 0.1 percent to end at 2,415.13 points. Property developers, however, gained on speculation that real estate policies may ease.

    Wanda Group, based in Dalian in northeast China, is a conglomerate involved in commercial property, hotels, tourism, culture and chain department stores. It is also China’s biggest cinema operator with 86 cinemas and 730 screens. アバクロ tシャツ The iPhone 4S really supports faster 3G HSDPA+ (High-Speed Downlink Packet Access), with a peak download speed of 14.4 megabytes per second. That is double the previous iPhone 4’s speed. エアジョーダン 通販 Tudou has said Youku is illegally airing the entertainment program series “Kangxi is Coming,” whose exclusive online broadcasting rights on the Chinese mainland were granted to Tudou by Taiwan’s TV station CTI Television. ルイヴィトン 財布 The first phase of Softbank’s network will include the cities of Tokyo, Osaka and Fukuoka and will eventually cover 90 percent of Japanese population, the companies said yesterday. SHANGHAI stock market edged up in today’s morning session thanks to active performance among small caps while blue chips were gloomy.

    However, the passage of the Currency Exchange Rate Oversight Reform Act on Tuesday by the US Senate may slow that effort and even trigger a trade war. アバクロ 公式 He noted a default on US Treasuries – a benchmark against which all other debt is measured – would dwarf worries about US credit ratings as global markets would crumble. ルブタン メンズ The investment that will take place in Danga Bay is a mirror of the success based on public-private partnership and a success that has attracted a partner from China that is highly-capable of completing such a giant project, Malaysian Prime Minister Najib Razak said as he witnessed Country Garden signing the acquisition agreement with Iskandar Waterfront Holdings Sdn Bhd, the land’s developer. ルイビトン 財布 That’s important to the Chinese, who have been bombarded for years with news about the EU, the United States and other countries or regions accusing China of unfair trade practices in punitive actions cloaking national protectionism.

    SHANGHAI stocks edged up this morning after US exchanges gained on speculation central banks across the world may take action to boost liquidity. new balance m1400 Total social financing, including loans, bank acceptance bills, corporate bonds and equity financing, was 11.73 trillion yuan in the first three quarters, 1.92 trillion yuan more than the same period of last year.


    22 augustus 2014 om 10:50
    jackbgdailljteyro

    The Shanghai Composite Index lost 0.19 percent to 2,736.53, the lowest since January 26. The six-day decline is the longest since July 1 last year. gucci 財布 Optimism ebbed yesterday as analysts raised questions about the plan, which left out many key details about how the fund would work. European markets mostly fell, and the euro declined against the dollar. air force 1 Youku’s shareholders will own 71.5 percent in the new company with Tudou’s getting the balance. Tudou will be delisted after the completion of the deal although no specific timetable was given. Its founder and CEO Gary Wang will be a board member in the new entity. ルブタン メンズ Poly Real Estate, China’s second-largest listed developer, fell 3 percent to 10.02 yuan (US$1.57), and Gemdale Corp shed 2.4 percent to 5.29 yuan.

    The ministry’s latest tariff reduction covers 33 items, which also include zinc ingots and nickel scrap, textiles and cotton fabrics. アバクロ tシャツ WellPoint, the second largest US insurer, lowered its earnings forecast. Its stock fell US$7.41, or 12 percent, US$54.01, the biggest one-day drop for the stock in more than three years. The insurer said enrollment has been slipping as companies cut jobs. エアジョーダン スニーカー Lenders gained on speculation of another bank reserve requirement ratio cut soon. Bank of China was up 0.66 percent to 3.06 yuan. China Construction Bank rose 0.83 percent to 4.89 yuan. Industrial and Commercial Bank of China advanced 0.69 percent to 4.41 yuan. The state-run Central Huijin Investment Company has agreed to let major banks, in which it holds stakes, to cut cash dividend ratio to improve capital adequacy. ルイヴィトン 長財布 CITIC Securities analyst Zhou Xizeng said the share purchase reflected Baosteel’s confidence in rebounding demand for flat steel products, used by the auto and home appliance industries, which he said is likely to bounce back in the fourth quarter and throughout 2012. The central bank in April widened the yuan’s daily trading band against the dollar for the first time since 2007, allowing it to fluctuate up to 1 percent either side of a daily reference rate from a previous 0.5 percent.

    The State Council, China’s Cabinet, has proposed to raise the minimum income threshold of the personal income tax and adjust tax rates and brackets so that those who earn the least will pay less or nothing at all. アバクロ 銀座 The reform has effectively promoted the growth of tertiary industry, especially the service sector, and encouraged the development of small and micro-sized companies, according to representative at the meeting. クリスチャンルブタン 靴 Esprit last week confirmed that former chairman Michael Ying has raised his stake to 10.34 percent from 8.99 percent. ビトン 財布 Forecasts for Isaac have moderated, easing concerns that the storm could damage key oil and gas operations in the Gulf of Mexico. The National Hurricane Center now predicts it will grow to a Category 1 hurricane instead of a stronger Category 2.

    The current batch of US corporate earnings, which started to come in this week, isn’t expected to help the stock market. Financial analysts forecast that companies in the S&P 500 will report a 2 percent earnings drop in the April-through-June period compared with the year before, according to the research firm S&P Capital IQ. That would be the first fall in profits since the summer quarter of 2009. ニューバランス 576 According to the national bureau, the government of Yongchuan district, Chongqing, was suspected of violations against statistical laws and regulations, as it required pre-review and approval of companies’ data reporting before submittal to the bureau.


    23 augustus 2014 om 01:35
    jackqzmwyhvsteyro

    The increase in home loans lags behind the recovery in home sales in the city as it takes about a month for banks to extend credit on home transaction. As banks tighten home loans in accordance with state calls, it can take longer for banks to extend home credit. グッチ バッグ International investor interest in Chinese corporations is coinciding with low levels of internationalization and limited access to information at the entities, said John Hatton, Fitch’s Group Credit Officer for Asia-Pacific Corporations. エアジョーダン6 BOMBARDIER Inc reported a 93 percent drop in quarterly profit after taking a restructuring charge, and said entry-into-service of its Learjet 85 business aircraft has been delayed to the summer of 2014 due to several technology issues. ルブタン パンプス Of the housing projects, which include apartments and villas, to be unveiled in February, half will be located beyond the city’s Outer Ring Road, followed by 29 percent between the Middle and Outer Ring Roads. The other 21 percent are set within the Inner Ring Road, according to a latest report by Soufun.

    The iOS 6 update provides users with 200 new features, including a Chinese-language Siri, Baidu search platform and Sina Weibo. It is the first time for Siri, Apple’s personal voice assistant, to speak Chinese. アバクロ 通販 Revenue from its main operations fell 25 percent to 6.33 billion francs. Trading and fixed-income sales were also down, largely because of a 23 percent rally in the value of the Swiss franc against the US dollar. エアジョーダン1 Crude oil in New York averaged 8.9 percent higher in the quarter from a year earlier. ルイビトン Downbeat economic news from Europe reinforced the danger. Greece said its economy shrank drastically at the end of last year, and Europe is expected to report Wednesday that the economies of the 17 countries that use the euro shrank 0.4 percent after growing 0.1 percent the quarter before. A lower-than-expected outflow of air passengers will trigger a rebound in airline stocks, he said.

    Regling said one issue to discuss is how to structure the special purpose vehicle to make it more attractive to China and other possible investors by having the EFSF absorb a bigger share of possible losses. CHINA Shenhua Group Co Ltd, the country’s largest coal producer, has signed a deal to build Asia’s largest thermal power project in the Guangxi Zhuang Autonomous Region. ホリスター 店舗 Home prices in the country remained “basically unchanged” in August from the previous month, SouFun Holdings said in an emailed statement today. Residential prices in 56 cities rose from July with average home prices nationwide climbing to 8,880 yuan (US$1,392) per square meter, according to the survey based on 100 locations tracked by SouFun. ルブタン パンプス The rally started Monday after Nike Inc. reported strong quarterly results. Revenue that beat analyst predictions indicated that shoppers are still splurging on pricier sneakers and sportswear, despite the recent run-up in gas prices. Thursday, Greece cleared its final hurdle before it receives its next round of loans to avoid default on its debt. The same day, a report showed that manufacturing in the Chicago region had picked up unexpectedly. ヴィトン 財布 The decision strikes another blow to confidence in Prime Minister Naoato Kan, who faces political gridlock, plunging public approval ratings and the highest debt burden among advanced economies. The downgrade comes less than a month after Standard & Poor’s cut Japan’s credit rating for the first time in nine years, to AA-minus from AA.

    CHANGSHA City has unveiled an 829.2 billion yuan (US$130 billion) investment plan, joining other Chinese cities seeking to shore up local economies as national growth slows. new balance Investors have largely ignored the strong earnings that companies have reported for the second quarter. Those in the S&P 500 index earned a record amount per share last quarter on an operating basis, which ignores one-time costs and other special items, according to S&P senior index analyst Howard Silverblatt.


    23 augustus 2014 om 02:39
    jackyrbtotvcteyro

    Shanghai will build 16 smart communities that will adopt the Internet of Things technology, including in Lujiazui and Biyun regions in Pudong. グッチ ネクタイ S&P cited the risk that Spain’s government debt will expand as the contracting economy exacerbates the nation’s budget woes. The Spanish central bank confirmed this week that Spain is in recession for the second time in three years. A jobless rate of nearly 23 percent is expected to rise. エアジョーダン11 In the quarter, Lenovo’s net profit was US$99.7 million, or 0.98 US cents a share, up from a profit of US$86.1 million forecast by analysts. Revenue rose 22 percent to US$5.81 billion, Lenovo said. ルブタン メンズ BLACK Friday sales rose 6.6 percent to the largest amount ever as American consumers shrugged off 9 percent unemployment and went shopping.

    Buying a representative portfolio of long-term government bonds – for example, defined equitably across the euro area by GDP weights – would also provide a measure of added stability to stressed sovereign markets, the IMF said. ホリスター Still, it will give you results sometimes if it manages to catch only keywords. For example, the word “meeting” leads to your personal schedule, and “weather” or “rain” will lead to the weather forecast page, even though it can’t recognize other words in your sentence. エアジョーダン11 In July 858,900 square meters of new homes, excluding government-funded affordable housing, were sold. In June 1.02 million square meters were sold and 858,900 square meters were transacted in May. The sales were all above the January-July average of around 615,000 square meters. ルイヴィトン ショルダーバッグ Private businesses still reported a profit increase of 22.4 percent in the first quarter, while earnings of foreign-invested firms and those from Hong Kong, Macau and Taiwan slumped 12.6 percent. State-owned enterprises said profit fell 12.4 percent. Branches of CCB can adjust their mortgage policy in line with local market conditions as long as they comply with regulatory requirements, its Beijing headquarters said yesterday.

    In Singapore and Hong Kong, only 25 percent of relationship managers are able to bring more than 60 percent of the assets they manage to their new employer, according to PricewaterhouseCoopers. アバクロンビー&フィッチ Business Climate Index, which measures both macroeconomic environment and microeconomic performance, edged up 1.8 points from the first quarter to 135.6 in the April-June period. クリスチャンルブタン In other energy trading, heating oil was down 3.48 cents at US$2.5931 per gallon while gasoline futures fell 3.11 cents at US$2.6257 per gallon. Natural gas gained 5.5 cents at US$2.381 per 1,000 cubic feet. ルイヴィトン 財布 メンズ The central government said on Wednesday that it would speed up investment on a number of major infrastructure projects this year as part of efforts to facilitate growth.

    Greek Finance Minister Evangelos Venizelos was quoted by two newspapers as saying an orderly default with a 50 percent haircut for bondholders was one of three possible scenarios for resolving the heavily indebted eurozone nation’s fiscal woes. ニューバランス スニーカー The International Energy Agency and Saudi Arabia have both tried to soothe energy markets in recent days, promising to tap into spare supplies and make up for any sustained production losses out of Libya. Libya produces about 1.6 million barrels per day, less than 2 percent of world consumption. It exports much of that oil to Europe.


    23 augustus 2014 om 02:46
    jackliuxjzetteyro

    New homes ready for sale totaled 193.5 million square meters in China as of March, an increase of 47.4 percent from a year earlier. However, the seemingly abundant supply at present could be misleading because the demand for homes has never abated and will be triggered as soon as the curb is lifted, Sun said. グッチ 時計 レディース Tong Ming, analyst at First Financial, held a rather different view. “Pension funds cannot save the stock market from its tumble due to their limited amount as compared with the size of the total capital market,” he said. Tong also expected more liquidity infusion after the holiday. ジョーダン スニーカー Xu Heyi, chairman of national brand BAIC Motor, said developing more upscale vehicles could help Chinese car brands gain ground because their reliance on selling cheap copycat models has proved shortsighted. クリスチャンルブタン Speaking during an inspection tour of Jiangsu Province from Friday to yesterday, he said the economy is running at a generally stable pace, but there is still huge pressure for it to go downward.

    The China Banking Regulatory Commission reiterated on Thursday that it wanted credit extended to smaller businesses to exceed the growth of total credit. ホリスター The number of branded budget hotels in China jumped by an average 82 percent a year from 2000 through 2008, and their overall market share may rise from 0.9 percent at the end of that period to 5.5 percent in 2015, Credit Suisse said. ジョーダン スニーカー Galaxy Securities said the central government reiterated at the recent annual economic conference its determination to grow the economy at a stable pace next year so that there will be a positive impact on the stock market. ルイヴィトン 時計 In the first six months, total power consumption grew just 5.5 percent from a year earlier to 2.38 trillion kWh, dragged down by a sharp decline in power use by energy-intensive industries, according to the China Electricity Council. Australian media yesterday quoted Federal Transport Minister Anthony Albanese as saying that the airlines of both nations would now be able to offer up to 18,500 seats on flights between Australia’s major airports and China’s each week.

    Construction of the first phase, costing 249 million yuan and covering 30 hectares, began in May last year. It will generate up to 20.23 million kilowatt hours of electricity annually, the document said. アバクロ Hirai reiterated what the company said last week – that even though it had no direct evidence the data were even taken, it cannot rule out the possibility. ルブタン 靴 At the height of the global financial crisis in 2008, China resorted to huge government spending in infrastructure to stimulate the economy. ルイヴィトン 財布 メンズ Beijing-based Poly International Auction Co Ltd, a leading domestic auction house, saw turnover of fine art and antiques at 5.28 billion yuan (US$794.6 million) at its 2010 autumn auction. Two items were sold at over 100 million yuan and 99 items over 10 million yuan.

    Small-company stocks fell more than the rest of the market. Small companies are more vulnerable to economic downturns since they make fewer products and usually have less cash on hand than large companies. ニューバランス 574 He said GM will introduce more electric models to the Chinese market where the company has a plan to double sales volume by 2015.


    23 augustus 2014 om 03:58
    jackdxuephyrteyro

    Social engagement or corporate citizenship has always been an integral part of Henkel’s sense of responsibility as a company. Arig said this is a tradition that dates back to the company’s founder, Fritz Henkel, and is firmly embedded in its corporate values. gucci バック I’m sometimes embarrassed when I tell people or relatives that I work for the insurance regulator, he said during a lunch with reporters. “They always have things to complain about insurers and suggest we are not doing our job properly. In time, I think our punches will work.” エアジョーダン11 SHANGHAI shares fell the most in three weeks yesterday after China’s exports grew at its slowest pace in eight months in October amid a worsening global economic climate. ルブタン パンプス In an ideal world, these yields, and the fact that the 3-year was above 8 percent in the gray market this morning, would serve to give the Ecofin/Eurogroup a sense of added urgency, but this is a far from ideal world, said Peter Chatwell, rate strategist at Credit Agricole in London.

    The ministry will roll out active measures to maintain a stable export policy in a bid to ensure exports grow steadily. It will also launch new policies to create a more balanced trade. アバクロ Rare earth providers advanced on speculation rare earth prices may start to rebound in the second half year after a steep drop. Inner Mongolia Baotou Steel Rare-earth (Group) Hi-tech Co, a producer of rare earth materials rose 3.2 percent to close at 37.91 yuan. エアジョーダン11 Prices of existing homes in prime locations – including four downtown districts in Puxi and the part of Pudong New Area within the Inner Ring Road – edged up 0.08 percent last month, compared to a gain of 0.34 percent in May. At the same time, however, those in outlying districts had a monthly gain of 0.1 percent, the office said. バッグ ブランド In 2000, the Commerce Department initiated the investigation again and the ITC made an affirmative response, giving birth to the decade-long order. US stocks opened higher on the data, while Treasury debt prices fell. The dollar advanced to a near one-month high versus the euro.

    The 12-nation producer bloc will meet in December to evaluate whether to revise its members’ output quotas. ホリスター Yi reiterated China’s confidence in Europe despite the current debt crisis, saying China will continue to be a “long-term and responsible” investor in Europe. ルブタン In a blog posting on Thursday, Google digital publishing director Scott Dougall wrote that the program hadn’t “gained the traction” the company was hoping for. From January 31, the search engine giant will sell e-books only through Google Play. Publishers and booksellers had hoped that Google’s e-book store would cut into Amazon.com’s lead in the digital market. ルイヴィトン 財布 Societe Generale’s Yao said China may accelerate policies aimed at boosting household consumption and activity in the services sector. The central bank, she said, may coordinate a policy of “guiding market interest rates lower.”

    More areas will be added and the trial in “certain industries” will be expanded nationwide next year, the statement said. new balance 996 Europe is still putting politics ahead of economics. In doing so, it’s missing two things Asians long ago accepted and internalized. One, the nature of the global financial system is shifting faster than summits and communiques can follow. Two, we live in a world without reliable economic engines.


    23 augustus 2014 om 09:32
    jackjolnkxdtteyro

    The game made a lot of money for the company, Liu said, and it was an important learning experience in a market that looks increasingly attractive. グッチ サングラス A record 226 million shoppers visited stores and websites during the four-day holiday weekend starting on Thursday, the Thanksgiving Day holiday, up from 212 million last year, according to early estimates by the National Retail Federation released yesterday. Americans spent more, too: The average holiday shopper spent US$398.62 over the weekend, up from US$365.34 a year ago. エアジョーダン6 I’m surprised. Everyone’s saying they’ve got enough stocks. This should keep WTI (US crude) under US$100, but really we want Brent there, and this should help, said Robert Montefusco, broker at Sucden Financial. クリスチャンルブタン 店舗 Kindly remind you that your 1-week free trial has expired. Thank you for your interest in our products.

    The Shenzhen Composite Index, which tracks the smaller market in southern China, was up 0.6 percent to 1269.41. ホリスター 店舗 The State Electricity Regulatory Commission said last week that China will see a less severe power shortfall in the coming winter season than during the summer. But the shortage could be higher than expected if coal supplies were not adequate. エアジョーダン 通販 Some 31.6 percent said they could tolerate current prices, a rise of 6.9 percentage points from the last quarter of 2010. Also, 47.1 percent of households said they expected prices to rise in the next three months, a drop of 14.3 percentage points. ヴィトン コピー A spokesman for Huawei refused to disclose the value of the Softbank contract. The Shenzhen-based company received 65 percent of its sales income from overseas markets last year. Many car brands have set up offices in western China to move closer to their consumer targets.

    HOME prices in China extended their rally for a seventh straight month in December, with 57 of the 100 major cities monitored seeing higher prices, according to the latest industry report. 銀座 アバクロ CHINESE business climate improved in the second quarter but business confidence dropped further, the National Bureau of Statistics said today. ルブタン メンズ In August last year, China said low-priced US chicken imports were being unfairly subsidized, and imposed a anti-dumping duty of between 4 percent and 30.3 percent on the products, as well as a countervailing duty ranging from 50.3 percent to 105.4 percent, both for five years. The US used to be China’s largest chicken supplier, with exports of more than 600,000 tons in 2009. Since the duties were imposed, US exports of chicken to China are down nearly 90 percent, according to earlier media reports. ルイ??ヴィトン Last month, retailers added 53,000 positions. Temporary help companies added 18,000, and education and health care also gained 18,000.

    Sun Art isn’t immune to weaker economic growth in China, where gross domestic product may grow 7.7 percent this year, the slowest since 1999, according to a Bloomberg News survey of 54 economists. It also faces local competitors such as the government-backed China Resources Enterprise Ltd. ニューバランス 1400 Yao Gang, vice chairman of the China Securities Regulatory Commission, admitted in previous interviews that neither China’s corporate nor securities laws make any mention of supervision of foreign firms trading on mainland markets. That raises accounting and legal issues that could be worrying for multinationals accustomed to pretty well-defined international rules and standards.


    23 augustus 2014 om 10:12
    jackuvagokxpteyro

    These cannot be addressed by monetary easing. On the fiscal front, the planning agency has moved on the fast track in approving local infrastructure projects. That should help ease growth pains in the short run, but we suspect the investment momentum could fade away quickly once the central government’s funding is used. The fact is local governments do not have the money for their share of investments. Banks are only willing to lend to the top-tier local governments. グッチ ベルト The constant increases have reignited calls to diversify China’s huge foreign-exchange reserves, a majority of which are invested in US assets. エアジョーダン11 The top legislature will start reviewing the law’s latest amendment on June 27. The law, which was first passed in 1994, has been revised for at least five times. ルブタン Ireland, Greece and Portugal have already taken bailout loans after they could no longer borrow affordably on bond markets. Yet those countries are tiny compared to Italy and Spain, the third- and fourth-largest economies in the eurozone.

    It was a rare bright day for oil in May, which is down almost 12 percent this month on concerns about slowing global economic conditions. ホリスター China’s trade surplus aggregated to US$124 billion in the first 10 months of this year, down 15.4 percent from a year ago. Some analysts expect the surplus may settle at around US$150 billion this year, compared with US$183 billion in 2010. Trade surplus once accounted for more than 8 percent of China’s gross domestic product. But last year, it made up less than 3 percent of its economic output, and has continued to reduce, falling to 1.4 percent in the first 10 months. air force 1 Last month, Iraq signed a tentative deal with Iran to import 25 million cubic meters of natural gas daily to feed two power plants. ルイヴィトン アウトレット The action was taken to protect Brazil’s domestic automotive industry as the surging local currency, the real, made imports cheaper. Although performance leveled off in 2012, more than 40 percent of companies reported higher margins in China than their companies’ margins globally and nearly two-thirds said China revenue growth was greater than worldwide revenue growth.

    An adjustment in the income tax would have a limited impact on China’s fiscal income, said Xie Dongming, an OCBC Bank economist. “It’s bearable for a growing economy like China.” 銀座 アバクロ Many of the enterprising online merchants were also happy to offer services such as credit-card payment, a seven-day money-back guarantee and a 30-day warranty, all included in the device’s price. クリスチャンルブタン Air China and Cathay Pacific inaugurated a joint cargo venture early this year to grab a lion’s share in the Shanghai market where air cargo turnover accounted for 32 percent of the total in China. ルイヴィトン カタログ Agricultural Bank of China was climbed 1 percent to 2.92 yuan. China Merchants Bank added 1.2 percent to 14.17 yuan.

    The purchases of new residential properties, excluding government-funded affordable housing, dropped 17.5 percent week-on-week to 208,800 square meters during the seven-day period ended Sunday, Shanghai Deovolente Realty Co said today. ニューバランス アウトレット CHINA’S manufacturers turned on diesel-fueled generators as local governments rationed electricity to fight the worst power shortage in seven years.


    28 augustus 2014 om 10:18
    jacktkoxtzmzteyro

    China’s securities regulator has unveiled several reforms, including launching a refinancing mechanism for margin trading and short selling as well as widening the investment scope for brokers’ proprietary business. グッチ アウトレット Property developers were weak after the central government sent out investigation teams to inspect measures taken by local governments to control housing price. The investigation is expected to be completed next week. エアジョーダン Tepco said this week about 45 tons of contaminated water had leaked from a system that cleans radiated water, of which the utility said 300 liters escaped outside. But trade and energy minister Yukio Edano told reporters today that the leak would not affect the goal of achieving a cold shutdown before the year’s end. クリスチャンルブタン メンズ ZHEJIANG provincial food and drug authorities have ordered Taobao.com, China’s leading e-commerce platform, to stop pharmaceutical drugs being sold on the website as the company hasn’t obtained relevant official certificates, according to an official with the State Food and Drug Administration.

    We hope the magic of the Olympic Games can help bring out the best of the UK and showcase its strength to the rest of the world, Haird said. “We are seeking more bilateral trade and investment with China.” ホリスター 横浜 According to Apple’s website, the iPhone 4S supports 3G talktime for eight hours, slightly more than iPhone 4’s seven. But its stand-by time is up to 200 hours, less than iPhone 4’s 300 hours. エアジョーダン We’d need another ice age before we’re going to see these inventories drop, independent oil analyst Stephen Schork said. バッグ ブランド Other banks that got passing grades from the Fed mostly rose. Regions Financial rose 6.9 percent to US$6.17 after the bank said it would sell US$900 million in stock to repay some of the money it received as part of the 2008 bank bailout. Bank of America rose 4.1 percent to US$8.84 and Zions Bancorporation jumped 10.5 percent to US$21.58, the most of any stock in the S&P 500 index. Tang Jianwei, an analyst at Bank of Communications, said inflation will remain low in October, which may allow further monetary policy easing. Tang projected consumer prices will advance 1.9 percent in October, the same as September.

    The slide “confirms a weak start to 2013,” Credit Suisse analysts said in a note. “Hopes of an earnings and cash recovery in the second half are misplaced.” ホリスター Sprint Nextel Inc. plunged 20 percent after the company said it needs to raise money to build out a new high-speed data network. The rose earlier in the day after the company said its new deal to sell Apple Inc.’s iPhone will add to revenue in coming quarters. クリスチャンルブタン We are paying a lot of attention to this, and Treasury Secretary Geithner has swiftly informed Vice Premier Wang Qishan about the situation, he said. ルイヴィトン コピー Due to the pollution and contamination risks from the operation of rare earth processing plants, it is political suicide for governments in most parts of the world to approve the establishment of rare earth plants.

    A report from Local Data Company said yesterday nearly one in seven British shops remained vacant at the end of June as retailers struggled. ニューバランス スニーカー レディース CHINA’S digital game revenue rose 34 percent year on year in 2011, on the back of new personal computer gaming developments and a booming mobile games sector, the industry regulator said yesterday.


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    We expect the Comptroller of the Currency and potentially other regulatory bodies to increase the visibility of Bank Secrecy Act regulatory oversight as a result of the HSBC investigation. Other US banks face heightened scrutiny of their anti-money laundering/Bank Secrecy Act compliance functions to identify customers that may be involved in money laundering. gucci バッグ China should stop the policy that encourages buying more dollars so as to strengthen the dollar and limit appreciation of the yuan, he said. ジョーダン The battery rules were changed in order to conform US shipping requirements with international standards as required by Congress, the federal Pipeline and Hazardous Materials Safety Administration said in a statement. クリスチャンルブタン The report, full of nasty news, also says that after decades of surpluses for the federal Social Security pension program, its vast costs are no longer covered by payroll taxes.

    The gauge measuring real estate activities lowered to 48.7 and is set to continue lowering in the remaining months this year as construction on 98 percent of this year’s affordable housing has already started. ホリスター 横浜 JAPAN’S Nikkei stock index nose-dived nearly 11 percent today as the earthquake-shattered country faced an unfolding nuclear crisis after a radiation leak was detected at a crippled power plant and residents were warned to stay indoors. Other Asian markets also tumbled. エアジョーダン 通販 In the 12th Five-Year Plan period (until 2015), information technology will become a key factor in boosting economic development and structural upgrading. This will bring huge opportunities, including in software, chips and PC, for concerned companies, the United States-based research firm International Data Corp said in a recent note. ルイヴィトン 新作 The company’s first freehold distribution center was opened in Zhejiang Province’s Jiashan to support its expansion in China. Others attributed the city’s recent strong growth of FDI to the Shanghai Disneyland project. The first phase of the amusement park will cost 24.5 billion yuan (US$3.8 billion) and an additional 4.5 billion yuan will be spent to build supporting facilities such as hotels, shops, restaurants and entertainment venues.

    Property developers were among the gainers. Gemdale Corporation added 1.65 percent to 4.93 yuan. Shanghai Shimao Co rose 1.91 percent to 11.73 yuan. 銀座 アバクロ A senior G20 official said central banks across the world are preparing for coordinated action to inject liquidity and prevent a credit squeeze in case the Greek election results in financial turmoil, Reuters reported yesterday. クリスチャンルブタン 靴 The price of benchmark West Texas crude rose as high as US$113.93 a barrel in April, then dropped to US$75.67 by October. ルイヴィトン バッグ The German auto maker is showcasing its complete line-up of seven passenger car brands at the Shanghai auto show with the debut of Seat in China.

    The Dow Jones industrial average, down nearly 50 points early in the day as Mubarak tried to remain in office, closed up 44. The price of oil fell to a 10-week low. ニューバランス コーディネート In 2011, China’s game revenue reached 44.6 billion yuan (US$7.06 billion), a growth of 34 percent on an annual basis. PC game revenue, with 120 million players in total, still made up the bulk, or 96 percent, of total revenues.


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    Gaopeng responded by saying there were some “normal staff adjustments” under way, including departures of probationary employees who didn’t work out. At its peak, Gaopeng had a staff estimated at more than 3,000 at its peak, Chief Operating Officer Ouyang Yun said in an interview in June. グッチ アウトレット Honda Motor Co was upbeat about the full fiscal year through March 2011, raising its profit forecast to 530 billion yen from its October forecast of 500 billion yen. ジョーダン Analysts say last week’s plunge in oil and other commodities may only provide short-term relief from high prices. クリスチャンルブタン 靴 In an ideal world, these yields, and the fact that the 3-year was above 8 percent in the gray market this morning, would serve to give the Ecofin/Eurogroup a sense of added urgency, but this is a far from ideal world, said Peter Chatwell, rate strategist at Credit Agricole in London.

    Declines in railway investment and tightened funding has led to the suspension of many railway projects, hurting demand in the construction market, the federation’s Vice Chairman Cai Jin said. アバクロ tシャツ But recycling increased by 12 percent to 2.05 million ounces, giving a net demand of 6.05 million ounces. But this resulted in the global market’s oversupply of 430,000 ounces. エアジョーダン5 Republicans, who will feel ripped off, and Democrats, who will feel vindicated, are now less likely to agree on how to solve looming complications like tax increases and spending cuts that are supposed to take effect in January. “This doesn’t make me feel like the spirit of compromise will be in the air,” Zemsky said. ヴィトン コピー It is crucial for them to cover a wider range of services in order to seek higher profitability, said Zhang Meng, a researcher with Analysys International. THE US trade deficit widened in October because exports fell by a larger margin than imports, a sign slower global growth could hit the US economy.

    The slide “confirms a weak start to 2013,” Credit Suisse analysts said in a note. “Hopes of an earnings and cash recovery in the second half are misplaced.” アバクロ 公式 At the same time, with the cost of oil falling sharply recently, key OPEC members Saudi Arabia and Kuwait are likely to cut back on exports they unilaterally boosted over the past few months as a way to cool overheated prices. クリスチャンルブタン 店舗 Todd Salamone, an investment strategist at Schaffer’s Investment Research said the recent surge in stocks represents an “unwinding of the tremendous negativity that built up over the past few weeks.” ルイヴィトン アウトレット Stock markets in China are largely out of bounds for foreign investors because of tight capital controls. Guo said China’s “long-term policy” was to open capital markets.

    The bulk of the projects are in Jinqiao Export Processing Zone, Zhangjiang Hi-Tech Park, Kangqiao Industrial Zone, Nanhui Industrial Zone and Shanghai International Medical Zone. ニューバランス レディース Twenty-six EU member states – all of them apart from Britain – agreed at a summit last week that they would pursue deeper fiscal integration as part of efforts to tackle the debt crisis.


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    Mohammed and the two co-defendants, Walid Bin Attash, and Ali Abd al-Aziz Ali, communicate directly to the court because they are serving as their own lawyers. There are two other Guantanamo prisoners charged in the Sept. 11 attack but they have not been cleared to represent themselves. woolrich bologna The head of Germany’s Federal Criminal Police бу?Office, Joerg Ziercke, called the report on Saturday “highly speculative.” bauletto louis vuitton prezzo hogan interactive donna Today, as both chef and owner, Hu feels more pressure. Beside his work and art in the kitchen, there’s budgeting and marketing. He’s trying to find the right balance. hogan rebel ENGLAND was given a fright by Ireland in its first match since regaining the Ashes, winning by two runs in a rain-affected one-day international in Belfast on Thursday. Only four players that played in the victorious fifth test against Australia at The Oval last Sunday made the England line-up which struggled to 203 for nine off 50 overs. Ireland was then set a revised total of 116 from 20 overs because of bad weather but fell agonizingly short, ending on 113-9.


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