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Bloomberg Businessweek

Bloomberg Businessweek 3/27/2017

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Get the digital magazine subscription today and draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

Land:
United States
Taal:
English
Uitgever:
Bloomberg Finance LP
Verschijningsfrequentie:
Weekly
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50 Edities

in deze editie

7 min.
what trump got right about the un

United Nations peacekeeping missions are mired in bureaucratic waste and scandalThe loss of American donor dollars may finally force reforms on the organization “The United Nations has such great potential but right now it is just a club for people to get together, talk and have a good time. So sad!” Donald Trump proclaimed over Twitter as 2016 came to a close. That tweet sent proponents of the global institution into paroxysms of more tweeting and op-ed writing. The frenzy grew with the leak in late January of a draft executive order titled “Auditing and Reducing U.S. Funding of International Organizations.” That document called for a 40 percent decrease in financial support to international organizations, including the UN. On March 16, Budget Director Mick Mulvaney confirmed that the Trump administration would be…

2 min.
trump’s reckless threat to world trade

Presumably at the insistence of the U.S. administration, the latest statement from the Group of 20 big economies conspicuously dropped the standard promise to “avoid all forms of protectionism.” It’s worth pausing to understand why that promise was ever worth making, and honoring. The reason is surely not that governments always keep their word. For years they’ve been backsliding on their ritual commitment to keep markets open—and partly for that reason, the prospects for world trade were already looking poor. But those prospects will be so much worse if governments, led by the U.S., come to regard protectionism as a policy to be openly embraced. In the recovery from the recent global recession, the volume of trade has grown more slowly than it should. During the past four years, the slowdown has…

1 min.
the immigration policy america needs

In early March, President Trump praised the skills-based immigration system of Canada. It’s worthy of the accolade: In 1967, Canada became the first nation to use a points system, grading applicants to its Federal Skilled Worker Program on six factors: work experience, education, language ability, age, arranged employment, and a more subjective measure of “adaptability.” To be eligible for a permanent resident visa, an applicant must accumulate enough points in the various categories to “pass.” The result is that about 60 percent of permanent residents admitted to Canada enter for economic reasons. Studies show skilled immigrants increase productivity, create jobs, and spark entrepreneurship. One-quarter of technology and engineering companies established in the U.S. from 1995 to 2005 had at least one immigrant founder. U.S. immigration law currently values family ties over skills.…

3 min.
movers

Ups • According to an annual report that measures socioeconomic factors, Norway is the world’s happiest country. The U.S. is No. 14. • Sales of Chuck Berry records spiked 900-fold after the legendary rocker died on March 18 at age 90. His final album, Chuck, drops on March 24. • People are still hot for Birkin bags. Bucking tough conditions for luxury brands, Hermès International posted $1.2 billion in 2016 profit, a 13% increase from 2015. • For the first time in 183 years, Denmark paid off all of its foreign-currency-denominated debt. Its remaining $67b in bonds will be paid off in kroner. • Kenya is offering the world’s first bond sold only via mobile devices. With denominations as low as 3,000 shillings ($29), the debt is meant to be easy to buy or sell. $19t…

5 min.
china’s numbers man

Economist Gan Li and his researchers at Chengdu’s Southwestern University of Finance and Economics are gearing up for their national survey of Chinese households, which begins in early July. The aim of the biennial census is to measure the wealth of China’s 1.4 billion people—how much they earn, how many apartments they own, and how much land they have and how they use it. Bankers, economic analysts, property developers, and policymakers are eager to see what the survey will reveal. The now much anticipated project almost suffered a premature death in 2012 after it exposed how Chinese society had become one of the most unequal in the world. Gan’s survey showed that China’s Gini coefficient, a measure of income inequality, had reached 0.61, well above the 0.4 level widely considered destabilizing…

3 min.
indians reconsider life in america

Rahul Lachhani, a technology analyst at Credit Suisse Group AG in Mumbai, is on the verge of realizing his dream of pursuing a graduate degree in the U.S. The University of Southern California Viterbi School of Engineering has accepted him into its computer science graduate program. But the Trump administration’s strident anti-immigration stance has him worried. “After so many years of hard work, my friends and I are now questioning—are we right in investing in a U.S. degree at this time?” he says. For decades, the U.S. has lured thousands of foreign students who’ve earned graduate degrees in engineering or mathematics and been quickly hired by the likes of Google Inc. and Microsoft Corp. Now the Trump administration is trying to slash immigrant visas, while Republican and Democrat lawmakers are introducing…