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The World this week with ESSA


ESSA Publications

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September 23rd, 2012


Obama Vs Romney, Angry Chinese people and Quantitative Easing in Australia


The world this week with ESSA

Hand picked selection of economics content from around the web. This week: a wide range of topics from US Taxes to the future of online shopping.

ESSA, 23 September 2012

World Economy

Barack Obama and Mitt Romney on taxes – The Economist

VIDEO For those interested in the US elections, the Economist provides an overview outlining the stance on tax policies by the competing candidates, one of the topics on which each side has a contrasting view. However much of the details have yet to be worked out: “See us after the election.”

The History Behind China and Japan’s Anger Over a few Empty Islands – The Atlantic

Any Asian news watchers may have noticed that tensions between Japan and China over the seemingly innocuous Senkaku/Diaoyu Islands have escalated to a new, troubling level. Just last week China has sent nearly twenty marine surveillance ships to patrol through the islands, prompting a full alert by Japan’s Coast Guard. Anti-Japan demonstrations spread across China, reaching more than 100 cities, with Japanese businesses targeted for looting and damages. This article gives some historical background behind all the fuss.

German economic strength: The secrets of success – BBC

Imagine a country whose inhabitants work fewer hours than almost any others, whose workforce is not particularly productive and whose children spend less time at school than most of its neighbours – hardly a recipe for economic success, you might think. But the country described above is none other than Germany, Europe’s industrial powerhouse and the world’s second largest exporter. A look at how the structural reforms undertaken by Germany since the early 2000’s have allowed it to remain competitive.

Here in Australia

Bernanke’s QE3 squeezes RBA on rates – AFR

Last week  the Federal Reserve’s Quantitative Easing Policy was announced and there was immediate effects on markets worldwide as well as the AUD/USD exchange rate. This week the AFR examines longer-term repercussions of the Fed’s controversial policy and what the RBA has done and could do in response.

Tony Burke shows himself an appalling policymaker  – The Australian

With the last minute ban attempt on the fishing super-trawler Abel Tasman from Australia’s waters, Labor’s Environment minister Tony Burke’s policies in recent time have come under close scrutiny. Peter van Onselen, a professor at UWA explains.

Myer chief discusses online shopping – ABC

Structural change and cyclical pain – brick and mortar retailers are not having a fun time at the moment, and that is reflected in falling stock prices. Here is Alan Kohler interviewing Myer CEO Bernie Brookes who shares his thoughts on where the future of consumer shopping is headed.

For your interest

Spanish economist says La Liga could ‘kill itself’ within five years, suggests Iberian league – Yahoo

Jose Maria Gay de Liebana, economics professor at the Universidad de Barcelona and Spain’s leading football economist predicts Spanish football will kill itself within five years if current troubles don’t change.

Weekly Comic Strip – “Economics” in Calvin and Hobbes by Bill Watterson

calvin-and-hobbes

See you next week!

The ESSA team

The views expressed within this article are those of the author and do not represent the views of the ESSA Committee or the Society's sponsors. Use of any content from this article should clearly attribute the work to the author and not to ESSA or its sponsors.

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