http://news.linktv.org Link TV News Videos (Filtered by topics: World economy) en-us Fri, 29 Mar 2013 19:59:00 -0700 Copyright 2011 Link Media, Inc. http://news.linktv.org/videos/is-southeast-asian-democracy-dying-as-the-middle-class-grows?start=0 While Myanmar continues to reform, Thailand, the Philippines, and other Southeast Asian democracies are struggling politically. Josh Kurlantzick of the Council on Foreign Relations believes that the cherished idea that as countries develop a middle class they inevitably turn towards democracy is wrong. Fri, 29 Mar 2013 19:59:00 -0700 http://news.linktv.org/videos/is-southeast-asian-democracy-dying-as-the-middle-class-grows Middle Class, Philippines, Thailand, Democracy, Myanmar, World economy, Economy of Japan, Economy of Asia, Council on Foreign Relations, LinkAsia While Myanmar continues to reform, Thailand, the Philippines, and other Southeast Asian democracies are struggling politically. Josh Kurlantzick of the Council on Foreign Relations believes that the cherished idea that as countries develop a middle class they inevitably turn towards democracy is wrong. http://news.linktv.org/videos/bank-rejections-force-south-koreans-into-high-interest-loans-linkasia?start=0 Although South Korea has escaped the worst of the global recession, the country is still feeling the crunch. MBC reports that major banks are rejecting most loan applications, forcing people to take out extremely high interest loans from private lenders. Fri, 02 Nov 2012 17:51:00 -0700 http://news.linktv.org/videos/bank-rejections-force-south-koreans-into-high-interest-loans-linkasia South Korea, Economy, Loan, Bank, Recession, World economy, Seoul, Munhwa Broadcasting Corporation, LinkAsia, Yul Kwon Although South Korea has escaped the worst of the global recession, the country is still feeling the crunch. MBC reports that major banks are rejecting most loan applications, forcing people to take out extremely high interest loans from private lenders. http://news.linktv.org/videos/happiness-set-to-become-an-international-issue?start=0 More than 600 world leaders, economists, and academics at the United Nations are reassessing the link between happiness and economic prosperity, and asking which is the better indicator of the well-being of a country's citizens. Tue, 03 Apr 2012 14:56:00 -0700 http://news.linktv.org/videos/happiness-set-to-become-an-international-issue Popular culture, Bhutan, Gross national happiness, Economic growth, United Nations, US economy, Jigme Thinley, World economy, Gross national product, Jeffrey Sachs More than 600 world leaders, economists, and academics at the United Nations are reassessing the link between happiness and economic prosperity. While a nation's progress is typically measured in financial terms, economists have begun to acknowledge that this does necessarily indicate the well-being of a country's citizens. But, small nations like the Himalayan nation of Bhutan, which bases its development on its "gross national happiness" and which is rated among the world's happiest places, may have the right formula. Al Jazeera's Kristen Saloomey reports from New York. http://news.linktv.org/videos/inside-story-people-power-vs-global-economy?start=0 Have people lost all confidence in the global economy and global economic systems? Is there a global solution or do individual countries need different remedies? Al Jazeera's Inside Story investigates. Tue, 01 Nov 2011 16:54:00 -0700 http://news.linktv.org/videos/inside-story-people-power-vs-global-economy Occupy movement, Occupy Wall Street, Anti-corporate activism, Global financial system, World economy, European sovereign debt crisis, Economic inequality, Wall Street, United Kingdom, New York Have people lost all confidence in the global economy and global economic systems? Is there a global solution or do individual countries need different remedies? ---- The Occupy movement is spreading around the world and gaining momentum. And with no end in sight, it is causing concern to governments everywhere. It began in New York but has now spread to more than 900 cities across the globe. The protesters, inspired by the Occupy Wall Street movement, continue to express their anger at the global financial system, corporate greed and government cutbacks. They are calling on their governments to stop heeding the concerns of financial markets while ignoring the plight of their own people. As EU finance ministers meet to find ways to resolve their biggest financial crisis to date, the distrust in the global financial system is growing. So have people lost all confidence in the global economy and global economic systems? Is there a global solution or do individual countries need different remedies? Inside Story discusses with guests: Kanja Sesay, a student officer at the UK National Union of Students; Detlev Schlichter, author of Paper Money Collapse: The Folly of Elastic Money and the Coming Monetary; Sony Kapoor, the managing director of Re-Define, an international think-tank that advises policy makers on economic and financial sector policy. http://news.linktv.org/videos/europe-in-crisis-is-eu-ready-for-greek-default?start=0 Robert Zoellick, head of the World Bank, says the world is entering a new economic danger zone, and that Europe, Japan, the United States, and other countries should take responsibility for the current debt crisis. Thu, 15 Sep 2011 09:29:00 -0700 http://news.linktv.org/videos/europe-in-crisis-is-eu-ready-for-greek-default European sovereign debt crisis, Greece, European Union, Default, Economy of Greece, Robert Zoellick, Eurozone, Austerity, Georgios Papandreou, Nicolas Sarkozy Robert Zoellick, the head of the World Bank, has said that the world is entering a new economic danger zone, and that Europe, Japan, the United States and other countries should take responsibility for the current debt crisis. The European Union, meanwhile, has sent out a stern warning against a Greek default, saying that their default or exit from the Eurozone would affect all EU member states as well. Nicholas Sarkozy, the French president, and Angela Merkel, the German chancellor, held a teleconference with Georgios Papandreou, the Greek prime minister, to discuss the crisis on Wednesday. They stressed that Greece is an integral part of the Eurozone and its recent measures would see it meet its targets. Al Jazeera's Nadim Baba reports on the Greek government's debt woes from Athens, the Greek capital. http://news.linktv.org/videos/is-economic-power-shifting-from-us-to-china?start=0 As the effects of the US debt crisis continue to be felt in markets around the world, LinkAsia asks China expert Robert Kapp if the current situation could lead to a power shift from west to east. Mon, 15 Aug 2011 16:33:00 -0700 http://news.linktv.org/videos/is-economic-power-shifting-from-us-to-china World economy, 2011 US debt ceiling crisis, China, US debt, Economy of the People's Republic of China, Economy of Asia, US Treasury security, United States, LinkAsia As the effects of the US debt crisis continue to be felt in markets around the world, LinkAsia asks China expert Robert Kapp if the current situation could lead to a power shift from west to east. ----- The economic slowdown in the United States has fueled speculation that a fundamental change is underway in the global economy, as power shifts from the U.S. to China. To help us to understand what’s going on, we’re joined today by Bob Kapp. For ten years Bob was president of the US-China Business Council, and he now runs a consulting firm based out of Washington state. Bob is also an adviser to LinkAsia. Why would a downgrade of American debt have such a big impact on Asian markets? I think the downgrade is obviously related to other things we’ve seen in the U.S. including the endless battle over the deficit and the political stalemate that that showed. And Asia, including China but also including most of the rest of Asia does not feel good if the US economy and the policies behind it seem to be paralyzed. So what underlines it all really is an uncertainty that the United States is going to be able to see it’s way and think it’s way out of its problems which is not good for any Asian economy. China owns more U.S. debt than any other country in the world. Why has China had such a big appetite for U.S. treasury bonds, and will the downgrade have any impact on its appetite for U.S. debt going forward. The reason China likes treasury bonds is that they are traditionally an extremely safe investment. The reason China can buy so many is that it has vast amounts of dollar holdings, which it has accumulated largely through foreign trade, and through its famous trade surpluses with the United States. Now when the U.S. economy and the value of the dollar begin to get a little less certain, China says, “wait a minute, we own a trillion dollars worth of this stuff, and if the dollar is going to lose value we’re going to lose big time”. So they may think about other things to do with the dollar such as investing in other forms of investments in the United States; property, businesses and so forth. But at the bottom, there really isn’t any other economy in the world or any other place to put as many dollars as China has amassed, so it’s not automatic despite some grey rhetoric that the Chinese are going to walk away from their investments here. A lot of observers have been looking to China to be the world’s engine of economic growth. Do you believe that China has the ability to prevent the world from falling into recession? Yul, I think this is magical thinking. I think the answer is no. I mean on the one hand, in America many people think that China is sort of going to come over the hill and take over the United States or end American life as we know it, etcetera etcetera. And on the other hand we say well maybe they can to save us and save the world economy. Neither is remotely likely and I think we should all try to avoid that kind of magical thinking. A lot of experts have also been predicting that the United States, their economic turmoil and especially the downgrade will hasten the rise of China as being the world’s foremost economic superpower. What do you think about that? Have we finally hit that tipping point? It’s certainly a different world than 40 years ago when after World War II the United States was really the only great economy in the world. And China’s advent as a huge economic power both on the trade side and the consumption of raw materials from global sourcing and so forth, has been a major development in the world economy which automatically means the United States doesn’t have the same position in the world as it did twenty or thirty years ago. That’s just a fact it’s not that they did that to us, it’s the way it is. But really when it comes to deciding who’s heavier on the seesaw, there are people in both countries that predict either doom or triumph. The Chinese tend sometimes to predict triumph we tend to predict doom, it’s not a question of one doing it to the other. If the United States is losing vital power in the world, it’s more because of what we don’t do for ourselves-- we don’t improve our infrastructure, we don’t educate our kids, we don’t understand the nature of the competitive challenge that we’ve got. There are lots of ways in which the United States and its political stalemate and its ideological stalemate seems to be unable to grasp what it must do in order to compete successfully in a competitive world. And ask the world not to compete, because we might be the world’s only remaining superpower, is really asking too much of the rest of the world. Robert Kapp is a former president of the US-China Business Council. http://news.linktv.org/videos/european-markets-have-banned-it-but-what-is-short-selling?start=0 When markets go into free fall, governments often blame speculators who are short-selling -- basically, betting a share price will go down. Euronews explains how dealers turn losses into wins. Fri, 12 Aug 2011 15:58:00 -0700 http://news.linktv.org/videos/european-markets-have-banned-it-but-what-is-short-selling Short selling, Speculation, European sovereign debt crisis, World economy, Stock broker, Eurozone, Economy of France, Economy of Spain, Economy of Italy, Share price When markets go into free fall, governments often blame speculators and particularly the process known as short-selling. In an attempt to end the volatility and restore confidence regulators in France, Spain, Belgium and Italy have vetoed trades by investors who profit from market anxiety by betting on falling share prices. A short seller does not actually buy his chosen share, instead he borrows it from a lender -- normally a share broker -- depositing just a portion of the cost. Then he sells it to a third party and -- assuming the price goes down -- buys it back for less than he sold it. The share is then returned to its actual owner, and the short seller pockets the difference. http://news.linktv.org/videos/shares-plunge-on-wall-street-and-around-europe?start=0 The turmoil continues on the world's financial markets. After gains today in Asia, Wall Street plunged in early trading as investors reacted to the state of the US economy and high levels of public debt there, and Europe quickly followed suit. Wed, 10 Aug 2011 09:59:00 -0700 http://news.linktv.org/videos/shares-plunge-on-wall-street-and-around-europe Federal Reserve, Financial market, World economy, Wall Street, European sovereign debt crisis, US economy, Euronext Paris, US debt, Dow Jones Industrial Average, Economy of France The turmoil continues on the world's financial markets. Wall Street plunged in early trading; at one stage in the first hour the Dow Jones Industrial Average was almost four percent lower. That was one day after the US central bank, the Federal Reserve, tried to revive confidence by pledging to keep interest rates there at a record low for the next two years. That caused a rebound yesterday but the effect did not last with investors full of fear about the state of the US economy and high levels of public debt there. http://news.linktv.org/videos/us-shares-rebound-after-asian-losses?start=0 After yesterday's massive nosedive in share prices they started buying again on Wall Street as the exchanges opened. Analysts are hopeful of positive news from the US central bank, the Federal Reserve, about how it plans to combat a market meltdown. Tue, 09 Aug 2011 11:16:00 -0700 http://news.linktv.org/videos/us-shares-rebound-after-asian-losses Stock market, Dow Jones Industrial Average, New York Stock Exchange, Share price, World economy, European sovereign debt crisis, Wall Street, Federal Reserve, Jean-Claude Trichet, European Central Bank After yesterday's massive nosedive in share prices they started buying again on Wall Street as the exchanges opened, but then the indexes were up and down and it was a pretty bumpy road. Analysts spoke of hope of hearing something later today from the US central bank, the Federal Reserve, about how it plans to combat a market meltdown. If there is nothing substantial from the Fed, the prediction is the sell off will resume. http://news.linktv.org/videos/raw-video-president-obamas-statement-on-credit-downgrade?start=0 Raw video: the US President assures Americans that, "we will always be a triple-A country." Mon, 08 Aug 2011 13:51:00 -0700 http://news.linktv.org/videos/raw-video-president-obamas-statement-on-credit-downgrade Barack Obama, Credit rating agency, Standard & Poor's, US economy, Credit rating, Bond credit rating, Politics of the United States, Economic growth, World economy, White House The President assures Americans that, "we will always be a triple-A country." PRESIDENT Obama: Good afternoon, everybody. On Friday, we learned that the United States received a downgrade by one of the credit rating agencies -- not so much because they doubt our ability to pay our debt if we make good decisions, but because after witnessing a month of wrangling over raising the debt ceiling, they doubted our political system’s ability to act. The markets, on the other hand, continue to believe our credit status is AAA. In fact, Warren Buffett, who knows a thing or two about good investments, said, “If there were a quadruple-A rating, I’d give the United States that.” I, and most of the world’s investors, agree. That doesn’t mean we don’t have a problem. The fact is, we didn’t need a rating agency to tell us that we need a balanced, long-term approach to deficit reduction. That was true last week. That was true last year. That was true the day I took office. And we didn’t need a rating agency to tell us that the gridlock in Washington over the last several months has not been constructive, to say the least. We knew from the outset that a prolonged debate over the debt ceiling -- a debate where the threat of default was used as a bargaining chip -- could do enormous damage to our economy and the world’s. That threat, coming after a string of economic disruptions in Europe, Japan and the Middle East, has now roiled the markets and dampened consumer confidence and slowed the pace of recovery. So all of this is a legitimate source of concern. But here’s the good news: Our problems are eminently solvable.* And we know what we have to do to solve them. With respect to debt, our problem is not confidence in our credit -- the markets continue to reaffirm our credit as among the world’s safest. Our challenge is the need to tackle our deficits over the long term. Last week, we reached an agreement that will make historic cuts to defense and domestic spending. But there’s not much further we can cut in either of those categories. What we need to do now is combine those spending cuts with two additional steps: tax reform that will ask those who can afford it to pay their fair share and modest adjustments to health care programs like Medicare. Making these reforms doesn’t require any radical steps. What it does require is common sense and compromise. There are plenty of good ideas about how to achieve long-term deficit reduction that doesn’t hamper economic growth right now. Republicans and Democrats on the bipartisan fiscal commission that I set up put forth good proposals. Republicans and Democrats in the Senate’s Gang of Six came up with some good proposals. John Boehner and I came up with some good proposals when we came close to agreeing on a grand bargain. So it’s not a lack of plans or policies that’s the problem here. It’s a lack of political will in Washington. It’s the insistence on drawing lines in the sand, a refusal to put what’s best for the country ahead of self-interest or party or ideology. And that’s what we need to change. I realize that after what we just went through, there’s some skepticism that Republicans and Democrats on the so-called super committee, this joint committee that’s been set up, will be able to reach a compromise, but my hope is that Friday’s news will give us a renewed sense of urgency. I intend to present my own recommendations over the coming weeks on how we should proceed. And that committee will have this administration’s full cooperation. And I assure you, we will stay on it until we get the job done. Of course, as worrisome as the issues of debt and deficits may be, the most immediate concern of most Americans, and of concern to the marketplace as well, is the issue of jobs and the slow pace of recovery coming out of the worst recession in our lifetimes. And the good news here is that by coming together to deal with the long-term debt challenge, we would have more room to implement key proposals that can get the economy to grow faster. Specifically, we should extend the payroll tax cut as soon as possible, so that workers have more money in their paychecks next year and businesses have more customers next year. We should continue to make sure that if you’re one of the millions of Americans who’s out there looking for a job, you can get the unemployment insurance that your tax dollars contributed to. That will also put money in people’s pockets and more customers in stores. In fact, if Congress fails to extend the payroll tax cut and the unemployment insurance benefits that I’ve called for, it could mean 1 million fewer jobs and half a percent less growth. This is something we can do immediately, something we can do as soon as Congress gets back. We should also help companies that want to repair our roads and bridges and airports, so that thousands of construction workers who’ve been without a job for the last few years can get a paycheck again. That will also help to spur economic growth. These aren’t Democratic proposals. These aren’t big government proposals. These are all ideas that traditionally Republicans have agreed to, have agreed to countless times in the past. There’s no reason we shouldn’t act on them now. None. I know we’re going through a tough time right now. We’ve been going through a tough time for the last two and a half years. And I know a lot of people are worried about the future. But here’s what I also know: There will always be economic factors that we can’t control –- earthquakes, spikes in oil prices, slowdowns in other parts of the world. But how we respond to those tests -- that’s entirely up to us. Markets will rise and fall, but this is the United States of America. No matter what some agency may say, we’ve always been and always will be a AAA country. For all of the challenges we face, we continue to have the best universities, some of the most productive workers, the most innovative companies, the most adventurous entrepreneurs on Earth. What sets us apart is that we’ve always not just had the capacity, but also the will to act -- the determination to shape our future; the willingness in our democracy to work out our differences in a sensible way and to move forward, not just for this generation but for the next generation. And we’re going to need to summon that spirit today. The American people have been through so much over the last few years, dealing with the worst recession, the biggest financial crisis since the 1930s, and they’ve done it with grace. And they’re working so hard to raise their families, and all they ask is that we work just as hard, here in this town, to make their lives a little easier. That’s not too much to ask. And ultimately, the reason I am so hopeful about our future -- the reason I have faith in these United States of America -- is because of the American people. It’s because of their perseverance, and their courage, and their willingness to shoulder the burdens we face -– together, as one nation. http://news.linktv.org/videos/shares-slide-amid-global-economic-fears?start=0 The world's financial markets remain extremely volatile after Standard & Poor's downgrade of the US credit rating on Friday and the European Central Bank decision Monday to buy Spanish and Italian government bonds to try to stop the European debt crisis from spreading. Mon, 08 Aug 2011 08:32:00 -0700 http://news.linktv.org/videos/shares-slide-amid-global-economic-fears Standard & Poor's, European Central Bank, Credit rating, World economy, European sovereign debt crisis, Economy of Italy, Economy of Spain, US economy, Recession, Italy The world's financial markets remain extremely volatile with investors sending a message to politicians worldwide that they are not doing enough to address the problems threatening the global economic recovery. The downgrade of the United States' credit rating on Friday by Standard & Poor's reignited fears the world's biggest economy could slip into recession again, and there was a big sell off of European shares by the early afternoon, despite the fact the European Central Bank was buying Spanish and Italian government bonds to try to stop the European debt crisis spreading, perhaps limiting damage in Madrid and Milan. http://news.linktv.org/videos/world-stocks-plunge-on-crisis-fears?start=0 Jeremy Batstone-Carr, director of private client research at Charles Stanley in London, talks to Al Jazeera about the possible triggers for the latest bout of economic turmoil to engulf world markets. Fri, 05 Aug 2011 08:47:00 -0700 http://news.linktv.org/videos/world-stocks-plunge-on-crisis-fears European sovereign debt crisis, World economy, Stock market, Stock exchange, Economy of Italy, Economy of Spain, Stock market correction, Italy, Spain, Economy Jeremy Batstone-Carr, director of private client research at Charles Stanley in London, talks to Al Jazeera about the possible triggers for the latest bout of economic turmoil to engulf world markets. World stocks sank for an eighthstraight session on Friday, wiping $2.5 trillion off their value on the week, as concern ballooned over the slowing global economy and the spread of debt anguish into Italy and Spain. stocks provisionally ended 3.78 percent lower on Friday as foreign investors offloaded their holdings amid a global sell-off, while local investors remained cautious, dealers said. shares fell on Friday for the fourth consecutive session, with shipbuilders leading declines on concerns over meager global economic growth. http://news.linktv.org/videos/global-markets-plunge-rally-remain-volatile?start=0 European stock exchanges have trimmed their earlier losses after falling sharply in early trading on Friday. Some indexes even turned positive late in the afternoon, following steep losses in Asian markets earlier in the day. Fri, 05 Aug 2011 08:39:00 -0700 http://news.linktv.org/videos/global-markets-plunge-rally-remain-volatile European sovereign debt crisis, Stock market, Eurozone, Dow Jones Industrial Average, European Central Bank, World economy, Italy, Spain, Nikkei, Economy of Italy European stock exchanges have trimmed their earlier losses after falling sharply in early trading on Friday. Some indexes even turned positive late in the afternoon. That was because there was some good news from the US where job growth accelerated more than expected in July. Private employers stepped up hiring, a development that could ease fears the economy was sliding into a fresh recession. http://news.linktv.org/videos/debt-crisis-spain-and-italy-under-pressure?start=0 As global markets tumble, the eurozone debt crisis is forcing Spain and Italy to pay unsustainable rates of interest to continue borrowing. Thu, 04 Aug 2011 17:15:00 -0700 http://news.linktv.org/videos/debt-crisis-spain-and-italy-under-pressure Spain, Italy, Debt, European sovereign debt crisis, Eurozone, José Luis Rodríguez Zapatero, Silvio Berlusconi, Europe, European Union, World economy In the midst of the worsening eurozone debt crisis Spain has survived a crucial test of its ability to sell government bonds. With the financial markets worried that the eurozone's fourth biggest economy could be the next to need a bailout Madrid managed to find buyers for 3.3 billion euros worth of bonds but had to pay a hefty -- and unsustainable -- rate of interest. Worries about Spain going the same way as Greece, Portugal, and Ireland pulled down shares in Madrid nearly four percent with those falls mirrored around Europe. Meanwhile in Italy -- the eurozone's third largest economy, which also has huge public debt and is having to pay unsustainable interest rates to borrow -- Prime Minister Silvio Berlusconi repeated assurances that his country's economy is solid, and promised comprehensive reforms. http://news.linktv.org/videos/debt-deal-neither-side-got-what-they-wanted?start=0 US Senate Majority Leader Harry Reid has said neither side got what they wanted from the deal announced yesterday to raise the US debt ceiling. Leaders worked Monday to align lawmakers from both parties behind their formula for averting a financial meltdown. Mon, 01 Aug 2011 12:24:00 -0700 http://news.linktv.org/videos/debt-deal-neither-side-got-what-they-wanted Harry Reid, 2011 US debt ceiling crisis, Default, US Congress, US debt, US Senate, US debt ceiling, US Senate Majority Leader, World economy, Politics of the United States US Senate Majority Leader Harry Reid has said neither side got what they wanted from the deal announced yesterday to raise the US debt ceiling, because it is a compromise. The White House and congressional leaders worked Monday to align lawmakers from both parties behind their formula for averting a financial meltdown and halting the government's prolific spending habits. http://news.linktv.org/videos/us-congress-to-vote-on-deal-to-prevent-default?start=0 Both houses of the US Congress were lining up votes Monday on a bitterly fought agreement with President Barack Obama to raise the limit on US borrowing and forestall an unprecedented American default. <br /> Mon, 01 Aug 2011 12:15:00 -0700 http://news.linktv.org/videos/us-congress-to-vote-on-deal-to-prevent-default 2011 US debt ceiling crisis, US Congress, US debt ceiling, Default, Barack Obama, Joe Biden, Harry Reid, US debt, World economy, Politics of the United States Both houses of the US Congress were lining up votes Monday on a bitterly fought agreement with President Barack Obama to raise the limit on US borrowing and forestall an unprecedented American default. http://news.linktv.org/videos/world-markets-jump-as-obama-announces-debt-deal?start=0 World stock markets jumped Monday after President Barack Obama announced a deal to increase the US debt limit, which would avoid an American default. But observers were injecting a note of caution into their analysis. Mon, 01 Aug 2011 08:36:00 -0700 http://news.linktv.org/videos/world-markets-jump-as-obama-announces-debt-deal 2011 US debt ceiling crisis, US debt ceiling, US debt, Default, World economy, Stock market, Barack Obama, United States World stock markets jumped Monday after President Barack Obama announced a deal to increase the US debt limit, which would avoid an American default. But observers were injecting a note of caution into their analysis.