Why outsourcing jobs to China has helped the world’s poor

Promoting his newly released book Deep South: Four Seasons on Back Roads, Paul Theroux has an op-ed in the New York Times, where he lambasts¬†American CEOs for their “hypocrisy”. He states, EVERY so often, you hear grotesquely wealthy American chief executives announce in sanctimonious tones the intention to use their accumulated hundreds of millions, or … More Why outsourcing jobs to China has helped the world’s poor

U.S.- Africa Summit: After Asia, is Obama Pivoting to Africa?

Next week, as promised during his trip to Africa last year, President Obama will host the first US-Africa Summit in Washington, D.C. to highlight the administration’s goal of strengthening political and economic ties with the continent. From August 4th-6th, more than 40 African presidents along with leaders of the African Union will be hosted at … More U.S.- Africa Summit: After Asia, is Obama Pivoting to Africa?

Shanghai FTZ and China’s Shift Into Services and Consumption

To gradually transition its economy from an export- and investment-based growth model to domestic consumption and services last September, Chinese authorities announced the creation of the China (Shanghai) Pilot Free Trade Zone (hereafter Shanghai FTZ). After three decades of double digits annual GDP growth rate, the Middle Kingdom decelerated¬†to approximately 7.7 % annual growth rate … More Shanghai FTZ and China’s Shift Into Services and Consumption