Stanley's blog

The US Treasury, in its semi-annual report delivered every April and October, can formally label China as a “currency manipulator” on account of the yuan’s substantial undervalue. This would allow the Department of Commerce to impose countervailing duties on a wide range of Chinese products. US Treasury Secretary-designate Timothy Geithner told the Senate Finance Committee… » read more

Posted by Stanley Crossick

A European Monetary Fund

An objective of the Maastricht Treaty was EMU – Economic & Monetary Union. 16 countries have achieved monetary, but not economic, union. Indeed, even economic policy cooperation still leaves a lot to be desired. The original criticisms of the euro were the lack of economic coordination and the absence of any central fund. Greece has… » read more

Posted by Stanley Crossick

Van Rompuy at Bruges

The College of Europe has been addressed by many leading political figures and heard many important speeches. The speech of Herman Van Rompuy, President of the European Council (EurC), on 25 February 2010 is well worth reading. His theme was “The challenges for Europe in a changing world”. The gist of the speech follows. Our… » read more

Posted by Stanley Crossick

A common value

There is much talk about values and frequently comparisons between Western and Eastern values. There is at least universal agreement on one value, as spelt out below: Buddhism “Hurt not others in ways that you yourself would find hurtful.” (Udana-Varga 5.18) Christianity “Do to others whatever you would like them to do to you.” (Matthew… » read more

Posted by Stanley Crossick

“By May 1928 the basic principles of guerilla warfare…had already been evolved; that is, the sixteen-character formula: The enemy advances, we retreat; the enemy camps, we harass; the enemy tires, we attack; the enemy retreats, we pursue.” (Mao Zedong, 1936). This post is inspired by the columnist Gwynne Dyer. “The ability to run away is… » read more

Posted by Stanley Crossick

Daniel Bell, in the Globe and Mail of 19 February 2010 wrote an interesting article about the revival of Confucianism. Only recently, the Chinese Communist Party approved a film about Confucius, starring the handsome leading man Chow Yun-Fat. Bell’s addressing Confucian values in practice is particularly interesting. Confucian intellectuals have put forward political proposals that… » read more

Posted by Stanley Crossick

European destructuring

Two items struck me in tonight’s newscasts. Lufthansa pilots are striking for four days, costing the company €100 million. They are demanding a 6% pay increase and that pilots in Lufthansa’s foreign subsidiaries be paid at their rates. French frefinery workers are striking against Total’s decision to close a refinery. Whatever the facts behind these… » read more

Posted by Stanley Crossick