Showing posts with label Capitalism. Show all posts
Showing posts with label Capitalism. Show all posts

Wednesday, January 10, 2018

Trump to bring 'America First' to World Economic Forum


WASHINGTON - Donald Trump will take his populist message directly to the world's political and business elite later this month, becoming the first US president to attend the World Economic Forum in Davos in nearly 20 years.

Trump -- who ran for president on a nationalist "America First" platform -- will mingle at the annual Alpine festival of globalism in Switzerland, and perhaps offer a few views of his own, the White House said.

"The president welcomes opportunities to advance his America First agenda with world leaders," White House spokeswoman Sarah Sanders said.

"At this year's World Economic Forum, the president looks forward to promoting his policies to strengthen American businesses, American industries and American workers."

A string of US presidents have avoided attending the annual upscale event, fearing a sojourn to a European ski resort would make them look out of touch.

The last president to go was Bill Clinton, who attended in 2000.

The gathering might seem antithetical to Trump's brand of politics, but the White House insists his message will be the same surrounded by chalets as it would be in Washington.

LOOKING TO MAKE HIS MARK?  


Trump, a real estate mogul-turned-president, has rarely shied away from the rich and famous, but may have additional geopolitical incentive to attend.

Last year, the forum was dominated by the appearance of Chinese President Xi Jinping.

Xi became the first Chinese leader to go, picking up the mantle of defender of free trade and globalization in the face of Trump's protectionist rhetoric.

"No one will emerge as a winner in a trade war," Xi warned, fueling a sense of rapidly growing China stepping into a space vacated by the United States.

During a decades-long spending spree, China has bankrolled infrastructure projects from Sri Lanka to Zambia, often earning political influence in the process.

Last year, the Trump administration was represented by informal emissary Anthony Scaramucci, who challenged Beijing to match words and deeds.

Firms were also quick to point out the gap between Xi's rhetoric and the realities of doing business in China, which is a frequently tortuous affair.

'AMERICA FIRST'  
 

But it is unclear how Trump's pitch for "America First" trade will play among the disciples of a global rules-based order.

"The question appears to be whether he'll play to the global Davos audience or use his speech to shock the crowd with the anti-globalization rhetoric he loves to use back home," said Scott Mulhauser, former chief of staff at the US Embassy in Beijing.

"The two sides of Trump stand in particular contrast on trade and globalization and may even both appear in the same speech," added Mulhauser.

"So this one should be fascinating -- and the signals he sends will be heard at home and across the globe."

Since coming to office in January 2017, Trump has ripped up or sought to renegotiate a series of trade pacts that underpin global commerce.

A series of investigations into Chinese trade practices have put his administration on a collision course with Beijing.

This year's Davos gathering takes place January 23-26, with a theme of "Creating a Shared Future in a Fractured World."

It is not yet clear when precisely Trump will attend.

source: news.abs-cbn.com

Monday, October 2, 2017

'Our economy is not broken': UK finance minister defends capitalism


MANCHESTER, England - British finance minister Philip Hammond will defend his Conservative Party's management of the economy on Monday, seeking to stave off rising support for the opposition Labour Party's vision of a more centrally-controlled state.

Hammond is due to speak at the annual Conservative conference - seen as a chance for Prime Minister Theresa May's government to repair relations with the party's grassroots after a damaging botched election in June.


Divided over Brexit from activist level right up to cabinet ministers, and losing public support to a resurgent Labour led by socialist Jeremy Corbyn, May is leading a fragile minority government.

Hammond, finance minister for the center-right party since July 2016, will talk up the merits of a free-market economy.

"Our economy is not broken: it is fundamentally strong," he will say according to advance extracts of his speech.

"The market economy frees people and businesses, encourages them to create, take risks, give ideas a go because they can see the results and benefit from their success."

That view has been challenged by Labour, who last week at their own party conference fleshed out plans for wide scale nationalization, higher government spending, and a more hands-on approach to the banking sector.

Hammond's words echo those of May, who last week issued her own defense of capitalism - a sign of growing concern about the threat Labour poses to the pro-business orthodoxy which has underpinned British economic policy since Margaret Thatcher's reforms in the 1980s.

"As this model comes under renewed assault, we must not be afraid to defend it," he will say.

"While no one suggests a market economy is perfect, it is the best system yet designed for making people steadily better off over time and underpinning strong and sustainable public services for everyone."

But, Hammond's arguments come after 7 years of spending cuts that has tested the patience of the British public and failed to erase a deficit or bring down high levels of national debt.

With Brexit on the horizon, a slowing economy and the Bank of England hinting that interest rates could rise, May's government has little fiscal room for manoeuvre.

Britain's economy grew 0.3 percent in the second quarter after 0.2 percent in the first -- adding up to the slowest growth for any major advanced economy since the start of 2017, according to official statistics.

Last month rating agency Moody's downgraded Britain's credit rating, saying the government's plans to bring down its debt load had been knocked off course and Brexit would weigh on the economy.

The Conservatives will pledge 400 million pounds ($535.00 million) of additional road and rail spending, but Labour said the plans did not go far enough.

"Hammond just wants to continue with the seven years of Tory economic failure that has seen the level of investment in our country fall behind many of our international competitors," Labour's finance policy chief John McDonnell said.

source: news.abs-cbn.com

Sunday, March 1, 2015

Whips, chains, capitalism: What 'Fifty Shades of Grey' is really about


(Lynn Stuart Parramore is a contributing editor at AlterNet, co-founder of Recessionwire and founding editor of New Deal 2.0 and IgoUgo.com. The opinions expressed here are her own.)

Author E.L. James has often insisted that "Fifty Shades of Grey" is wildly popular not because of its titillating trappings of transgression, but because it tells a simple love story for the ages. But this is a romance for a particular kind of age - a time of growing inequality. The social order is breaking up and leaving massive human wreckage in its wake. Dreams of love turn into fantasies of power - who has it and what they can do to those who don't have it.

When security vanishes and social bonds break down, fictional characters enter the new (ab)normal, which can often involve whips, chains and men in expensive suits with mysterious smiles. The film version of the first book of "Fifty Shades" is less a shout against the torment than a whimper - or, to be more precise, a lovesick giggle.

Other ages with pronounced power inequities have given rise to vivid sadomasochistic fantasies, such as the late-18th-century novels of the populist-minded Marquis de Sade, whose tales of pain and bondage resonated during a time when the French propertied classes had their boots firmly on the necks of the proletariat. Dreams of transgression become fantasies of liberation from brutal socioeconomic forces.

Our own age of inequality began in the 1970s, when power-hungry capitalists began to attack the New Deal, which had protected ordinary citizens from predatory elites. On cue, sadomasochism showed up at the box office in 1975 with an adaptation of "The Story of O," in which a woman is trained in sexual submission when she joins the staff of an elite club.

In 1980, the year that union-busting President Ronald Reagan won the White House, viewers channeled sadomasochist revenge fantasies in "Nine to Five," where three working women apply chains and a ball-gag to their tyrannical boss. By 1986, as financial deregulation unleashed Wall Street, we got "9½ Weeks," which introduced a new stock figure: the vaguely sadistic financier who seduces and abuses a woman of modest means.

More recently, Roman Polanski's 2013 film of David Ives' hit play "Venus in Fur," based on the 19th novel by Leopold von Sacher-Masoch, portrayed a lower-class actress who degrades and dominates an elitist playwright.

Back and forth the stories go. Do you beat the elites (literally) or join them?

In "Fifty Shades," the answer is: Join them. The film is the dispiriting denouement of this late stage of capitalism, where cruel conditions are accepted and you learn to suffer the whims of the rich - and pretend to like it.

Under the rules of this cruel regime, the education of sensitive English lit major Anastasia Steele begins when she interviews billionaire Christian Grey in the sumptuous Seattle headquarters of his global empire.

When interviewee queries the ingénue on her plans after college, Anastasia mumbles that she really has no idea. After all, what could her literary studies possibly have to do with this sleek glass command center for mysterious market forces, where perfectly coifed, robotic women serve their overlord in stilettos? When Christian informs Anastasia that his firm has an internship program, she glances around doubtfully. "I don't think I'd fit in."

Oh, you'll fit in just fine, Christian's faint smile seems to say.

She'll fit right in so long as she gives up her autonomy and agrees to a contract in which he is the master and she is the slave. In lieu of an internship, Christian offers her the starring role of sexual submissive to his dominant.

The price of admission to the world of the dashing entrepreneur is the willingness to be spanked and cuffed, along with the acceptance of his dictates on everything from what to eat to which gynecologist will inspect Anastasia's genitals. In exchange, Christian will arbitrarily dispense various goodies: a new car, couture dresses and private helicopter rides. Exactly 15 women have occupied the position before Anastasia, presumably discarded once the game grew dull. (Hopefully they got to keep the clothes).

A sensitive English major, it turns out, will make a fine submissive. Notably, Anastasia is a fan of Thomas Hardy, whose 19th-century tale of a peasantry wrecked by industrialization, "Tess of the d'Urbervilles," presents a poor and inexperienced woman who dreams of a better life, for which presumption she is raped by her wealthy libertine employer. Christian will send our young heroine a first edition of the novel as a gift. A blueprint?

"There are some people who say I don't have a heart," admits Christian. "Because they know me."

Yes, we do know Christian - even if Anastasia doesn't quite get it. We understand by now that in this unwitting parable of the globalized economy, you hand over your life to the one with the money, and he screws you - perhaps even gently at first. But later, he's sure to break out the cat o' nine tails.

When the prospects of ordinary people grow dim and social mobility declines, dreams begin to alter and diminish. In the 19th-century tales of Jane Austen, characters with severely restricted possibilities of bettering their situation had to focus on marrying up as the only way out. Today, it looks like we are returning to that paradigm. Anastasia forgoes an internship, which would probably lead to nothing more than a spot on the squad of stilettoed underlings, in favor of winning the hand of the dark prince and turning him from his nasty ways.

Is it any wonder that this is the fantasy of millions of American women? Why wouldn't those shackled by low-paying jobs, bonded to childrearing with little social support and lacking possibilities for advancement and consumption become seduced by the dream of access to limitless supplies of money and the leisure time in which to explore kinky sex?

Why would they not want to be carried aloft in helicopters over the drudgery of professional and domestic life? To be distracted by mild titillations in which pain becomes pleasurable and shackles magically liberate?

Because the "Fifty Shades" trilogy is, at its core, a conventional romance, Cinderella will eventually get to live out the traditional feminine narrative of getting married and having kids with the billionaire-prince. (We'll have to wait for two more movie installments for that resolution.)

But this fantasy requires a blindfold. You have to pretend that the overlord will have a miraculous change of heart. You have to unlearn the rule of late-stage capitalism: Satisfaction is never guaranteed.

Unless, of course, you happen to be on top.

source: www.abs-cbnnews.com