|Obama Recession: China Beats USA for FDI|
|by Tom McGregor||Wed, Oct 24, 2012, 11:03 PM|
BEIJING: China has surpassed the US to become the world's largest recipient of foreign direct investment in the first six months of the year, as disclosed by the United Nations Conference of Trade and Development.
But how long will the nation maintain its top ranking? The sputtering global economy helped China capture the prominent position. Xinhua quotes Zhan Xiaoning, director of UNCTAD Division of Investment and Enterprise, as saying, "it's mainly due to a 39.2 percent fall in FDI flows to the US, compared to a three percent decline in China."
Accordingly, some Western economists and journalists might dismiss China's top ranking for FDI as just lucky and argue the US would regain its number one status soon.
UNCTAD already hinted that, "early indications show that FDI flows to the US might be stronger in the second half of 2012." The US will probably return to lead in the rankings, but the real question should be, how long before China outranks the US for attracting foreign investments on a consistent basis?
It may depend on whether the US pursues isolationist trade policies or endorses a pro-growth open consumer market that welcomes imports along with foreign investments.
In their campaigns, US presidential candidates – GOP nominee Mitt Romney and President Barack Obama – talked tough about China, but in their third and final debate, they softened their stances against the country. Romney said he wishes to avoid a trade war, but would still insist on pushing for a higher-valued Chinese RMB currency.
To read the entire article from the China Daily, link here:
written by Jonathan Green , October 25, 2012
Former Secretary of State Colin Powell endorsed President Barack Obama for a second term Thursday.
"You know, I voted for him in 2008 and I plan to stick with him in 2012, and I'll be voting for he and Vice President Joe Biden next month," he said on CBS' "This Morning."
Asked whether it was an endorsement, he said, "Yes."
Powell praised the president's handling of the economy and ending of the Iraq War.
"I think we ought to keep on the track we are on," he said.
Powell said he had the "utmost respect" for Mitt Romney but criticized his tax plan.
He said Romney's foreign policy was a "moving target." "One day he has a certain strong view about staying in Afghanistan, but then on Monday night he agrees with the withdrawal. Same thing in Iraq. On every issue that was discussed on Monday night, Gov. Romney agreed with the president with some nuances. But this is quite a different set of foreign policy views than he had earlier in the campaign."
Powell, a Republican who served in President George W. Bush's first term, backed Obama in 2008. He was frequently mentioned as a potential Republican challenger against Bill Clinton in 1996, but decided against it.
Two polls released yesterday show President Obama stubbornly clinging to his electoral advantage. TIME Magazine released a new Ohio poll that has Mitt Romney trailing in the Buckeye State by 5 points. Last week's NBC News/Wall Street Journal/Marist survey also had Romney behind by 5.
TIME's poll should rattle the nerves of Romney supporters because the results run contrary to Team Romney's ongoing claim that their internal polls show a dead heat in the Buckeye State. Maybe that's the case among voters planning to go to the polls on election day but it looks like early voters are tilting dramatically in the president's direction. If the TIME poll is accurate, it means Mitt Romney will have to grab most of Ohio's remaining undecided voters if he wants to win this critical battleground state.
PPP released a Nevada survey yesterday that also shows President Obama holding a lead in this key swing state that remains outside the margin of error. Like Ohio, Nevada remains stubbornly in the Obama column. While Mitt Romney has made up ground in the three Southern swing states of Florida, North Carolina and Virginia, voters in Ohio, Nevada and Wisconsin seem do not seem inclined to be easily swept into Romney's camp.
Despite President Obama's advantage, his top advisors say we will not see the full impact of the final debate for a few more days. But at least for today, President Obama is holding onto his swing state advantage. And you can be sure that advantage will hold steady at least until a next batch of polls are released later today.
The Republicans are selling the idea through the media that they are either winning this race, or the race is virtually tied. In essence, any real sense of of win went out the door months ago when Romney/Ryan team could inform America what is agenda for moving America forward were. In addition, Romney/Ryan team alienated women who are the backbone to the Country by refusing to state his position on equal pay, abortion rights, and now supporting Arkin and the nut that just embarrassed the GOP. Romney has never led in Ohio, and will not win Ohio. Have I mentioned the 47%? Have I mentioned General Colin Powell's endorsement? Have I mentioned Romney/Ryans weakness's on Foreign Policy? I have yet to mention the flip flopping. In conclusion, I want to shout out to the GOP strategist who came up with the idea to flip flop on the POTUS agendas. Dummy's endorsed the POTUS before the nation. And you want this GOP organization running America, you won't get your Country back with this mess.
written by Jonathan Green , October 27, 2012
Alright, team, it is time to get down to brass tacks. The polls indicate that the situation is one of rough parity between the presidential candidates. The only thing surprising about this is that in a situation where there is an economic crisis, Romney still has not been able to dominate the election.
Given the polls, one thing that is clear is that every vote will count and, in my humble opinion, every state is a swing state. By this last point I mean that the situation remains volatile, not just at the presidential level, but all the way down the list. The Presidency is not the only office being filled. The volatility is largely rooted in two factors: one, will Obama's base actually vote, and, two, what percentage of the white electorate will decide, in effect, that they have given the black guy a chance and now it is time to go back to the white guy. This last point is something that we can discuss at length at another moment.
In many respects this is enough of an argument to vote for Obama. I remember having a discussion with the late labor leader Tony Mazzocchi years before his passing about this question of who gets to appoint Supreme Court justices. He suggested that it was not about the president but about the level of social movement activity that pushed presidents to make various appointments. I think that his point is a truism, but with all due respect, was not and is not helpful. Presidents appoint Supreme Court justices based on various factors, not the least being pressure from within THEIR own constituencies. Let's take the case of Justice Clarence Thomas. He was appointed to replace outgoing Justice Thurgood Marshall. There was no way that George H. W. Bush was going to appoint someone with the capability, let alone politics of a Marshall. He appointed a black guy who reflected the politics of his administration. Yes, it is possible for someone to change once they are appointed, e.g., Justice Ear Warren, but it is not something that one can bet upon, as many people who had great hope in Justice Thomas, once he received an appointment to a forever position, discovered.
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