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Tuesday, March 6, 2012
"Washington Consensus" & India-Pakistan Trade
The East Asian nation of South Korea has become a great model of economic success for the developing world. Back in 1960s, its annual per capita income was around $80, less than half of Ghana's at the time. Today, it stands at $30,000, comparable to that of some wealthy European nations. For most of this period, the people of South Korea have ignored the Washington consensus, the western prescription on economy and politics, to achieve this miraculous progress.
In 1960s and 1970s, Korea was led by military ruler General Park Chung-Hee who put in place the policies which helped Koreans realize their great potential. President Park made huge investment in infrastructure, health and education. In addition, South Korean analyst Ha-Joon Chang says that the Korean government "practiced many policies that are now supposed to be bad for economic development: extensive use of selective industrial policy, combining protectionism with export subsidies; tough regulations on foreign direct investment; active, if not particularly extensive, use of state-owned enterprises; lax protection of patents and other intellectual property rights; heavy regulation of both domestic and international finance."
Pakistan, too, was ruled by a military dictator General Ayub Khan in a period labeled by Pakistani economist Dr. Ishrat Husain as "the Golden Sixties". General Ayub Khan pushed central planning with a state-driven national industrial policy. In fact, South Korea sought to emulate Pakistan's development strategy and copied Pakistan's second "Five-Year Plan".
Here's how Dr. Husain recalls Pakistan of 1960s:
"The manufacturing sector expanded by 9 percent annually and various new industries were set up. Agriculture grew at a respectable rate of 4 percent with the introduction of Green Revolution technology. Governance improved with a major expansion in the government's capacity for policy analysis, design and implementation, as well as the far-reaching process of institution building. The Pakistani polity evolved from what political scientists called a "soft state" to a "developmental" one that had acquired the semblance of political legitimacy. By 1969, Pakistan's manufactured exports were higher than the exports of Thailand, Malaysia and Indonesia combined. Though speculative, it is possible that, had the economic policies and programs of the Ayub regime continued over the next two decades, Pakistan would have emerged as another miracle economy."
South Korea's Chang has exposed the hypocrisy of the West by explaining that the "G7 was always remarkably reluctant to recommend these (South Korea's) "heterodox" policies and insisted that the "Washington consensus" package of opening up, deregulation and privatization was the right recipe for everyone. When confronted with the Korean case, Washington consensus supporters tried to brush it off as an exception. However, the history of take-offs in most of the G7 countries – especially Britain, the US, Germany, France and Japan – is far closer to the Korean model than is commonly thought. The "unorthodox" policies used by Korea and almost all of today's rich countries need to be seriously considered in any discussion on development options."
Since the great success achieved by South Korea and other Asian Tigers in the latter part of the 20th century, China has become the latest example to have followed the East Asian development model with great results for what is now being dubbed the Asian century. Each of these nations has done it by ignoring the Washington Consensus about democracy, free markets and free trade.
As Pakistan embarks on a new course in trade, it's important for its leadership to recognize the wide gap between the theory and practice of the "Washington Consensus" to effectively safeguard its economy, domestic industries and jobs for Pakistanis to develop and prosper in the 21st century.
Related Links:
Haq's Musings
Ishrat Husain: Structural Reforms in Pakistan's Economy
Pakistan's Bilateral Trade Agreements
Role of Politics in Pakistan Economy
History of Pakistan Economy 1947-2010
Pakistan's Economic Performance 2008-2010
Incompetence Worse Than Corruption in Pakistan
Pakistan's Circular Debt and Load Shedding
US Fears Aid Will Feed Graft in Pakistan
Pakistan Swallows IMF's Bitter Medicine
Shaukat Aziz's Economic Legacy
Pakistan's Energy Crisis
Karachi Tops Mumbai in Stock Performance
India Pakistan Contrasted 2010
Pakistan's Foreign Visitors Pleasantly Surprised
After Partition: India, Pakistan and Bangladesh
The "Poor" Neighbor by William Dalrymple
Pakistan's Modern Infrastructure
Video: Who Says Pakistan Is a Failed State?
India Worse Than Pakistan, Bangladesh on Nutrition
UNDP Reports Pakistan Poverty Declined to 17 Percent
Pakistan's Choice: Talibanization or Globalization
Pakistan's Financial Services Sector
Pakistan's Decade 1999-2009
South Asia Slipping in Human Development
Asia Gains in Top Asian Universities
BSE-Key Statistics
Pakistan's Multi-Billion Dollar IT Industry
India-Pakistan Military Comparison
Food, Clothing and Shelter in India and Pakistan
Pakistan Energy Crisis
IMF-Pakistan Memorandum of Economic and Financial Policies
25 comments:
- Riaz Haq said...
Here are some excerpts of a Jang story on the impact of Pak-China FTA on Pakistani industries:
An analysis of mutual trade statistics reveals that since the signing of Free Trade Agreement (FTA) between the two countries in Nov 2006, China has exported goods worth around $ 11 billion whereas Pakistan's exports could hardly reach $ 0.25 billion.
Another misbalance in this respect is that Pakistan imports about 1,000 items from China while the latter's export-basket is limited to hardly 50 items. Pakistan exports items like seafood, cotton yarn, leather, marble, fruits, sports goods, rice, raw hides and vegetables. On the other hand, China exports almost every thing available under the sun to Pakistan and that also at very low prices. Mass availability of these goods at low rates has pushed local industry out of competition.
Pakistan's local industry alleges that the absence of government patronage and lack of supporting infrastructure, like energy, water, roads, has spurred import of cheap Chinese goods into Pakistan. Industrialists say China dumps a lot of goods into Pakistan but no action is taken for various reasons. The biggest of these is that Pakistan does not want to take even a symbolic step that harms friendly relations between the two, they add.
Complaints about dumping have to be filed with the World Trade Organisation (WTO) which inquires into them. "Dumping means export of goods by a country at prices lower than those at which these goods are being sold in the exporting country's local market," says Tahir Fayyaz, a garment importer based in Karachi. He says such countries manufacture products in excess of their local demand to benefit from economies of scale and dispose off the surplus in countries where similar industry is in a stage of infancy or on a decline.
The countries dumping goods in other countries are not worried about the price at which they are exporting them as they earn sufficient revenues from collective sales. Tahir adds that many industrialists have shut down their units and turned to imports. "This is a hassle-free business where you do not have to tackle officials of dozens of departments, as is the case with industry," he says.
The question that arises here is how Pakistan can increase its share in mutual trade and boost its industrial sector's contribution to exports to China. Critics say Pakistan should not shy away from raising dumping issues with China. However, this is something difficult, keeping in view the dependence of Pakistan on China in almost every field of life, ranging from education, technical assistance and engineering to defence, energy, and what not.
India, on the other hand, has still not signed free trade agreement with China and imposed anti-dumping import duties on yarn, fabric, nylon being imported from China. The country even has a Directorate General of Anti-dumping and Allied Duties (DGAD) which functions under the Commerce Ministry. The fact that India has filed a record number of anti-dumping cases against China at the World Trade Organization (WTO) also explains how protectionist the former is of its industry.
The report says out of a total of five units, four have closed their commercial operations. These are Prey China, Dada Bhoy, Pakpur, and Regal China while the last one -- Lone China -- is on the verge of collapse. It adds the price of imported Chinese crockery has gone down drastically during the last one year, despite the fact that there has been no significant change in the cost of inputs...
http://jang.com.pk/thenews/jan2011-weekly/nos-02-01-2011/pol1.htm#4 - March 8, 2012 at 6:09 PM
- Riaz Haq said...
Here's a News Op Ed by Saeed Khalid, former Pak Ambassador to EU:
While the Indian officials and business circles are pleased with Pakistan's decision of extending the MFN status, it is not clear how mindful the Indian side is of the genuine fears in Pakistan about serious damage to our economy from a rapid increase of imports from across the border. As we lower trade barriers, there will be numerous complaints against the dumping of cheaper Indian goods. Our exporters will be exasperated by India's non-tariff barriers. Therefore, the increase of Indian exports and the absence of corresponding growth of our exports to India would only sour the atmosphere. Is there any point in liberalising trade if that would lead to frustration, rather than bringing the two countries closer? Misgivings notwithstanding, the answer would still be yes, because dismantling trade barriers is the way of the future while keeping the barriers is considered regressive and outdated.
The avalanche of Indian movies in Pakistan or the roaring success of Pakistani singers in India has not helped in changing hearts on the two sides. India still refuses to play cricket with Pakistan for political reasons. The Pakistanis may be taking Bollywood in their stride, but the flooding of Indian goods is going to be a different ballgame. The role of Pakistan's film industry in the country's economy cannot be compared with that of the textile, automobile or pharmaceutical industries. We will have to create efficient monitoring systems to ensure that injury to Pakistan's industries leads to restrictions on cheap imports. Punitive measures will need to be supported by technical dossiers. The complex non-tariff barriers cannot be overcome by the existing bureaucratic structures. The government, the TDAP and our industries will have to hire business experts and lawyers to make sure that our answer to dumping is not only symptomatic but based on hard irrefutable data.
Barring unforeseen developments, from 2013 onwards Pakistan-India trade will be moving in the fast lane. In other words, we would be not only seeing a rapid growth of trade but also experiencing tit-for-tat safeguard measures already being practiced by many other countries and trade blocs of the world. Europe, which saw some of the most horrendous wars in history, became a pioneer in peaceful coexistence and economic integration after World War II. The Europeans are often urging India and Pakistan to follow suit by forging economic links and making South Asia a free trade area. Presently, all this may sound like utopian thinking, but at least a beginning is being made through the opening up of direct trade between South Asia's two largest yet very disproportionate economies. In order to ensure that we are in a win-win situation, it depends more on the bigger country to provide a level playing field to the smaller partner. If that becomes unachievable, the flurry of trade generated by reciprocal MFN status may soon end up in a trade war of sorts between India and Pakistan.
http://www.thenews.com.pk/Todays-News-9-97255-Life-after-MFN - March 12, 2012 at 9:51 AM
- Riaz Haq said...
Here's an McClatchy story on Iran-Pakistan trade:
KARACHI, Pakistan -- Iran and Pakistan are negotiating a barter deal in which Pakistan would supply up to 22 million tons of wheat in return for discounted electricity and petroleum products, Pakistani business leaders involved in the talks said.
The proposal is part of a broader trade package being pursued by the neighboring states as Iran scrambles to find new suppliers to replace trading partners scared away by U.S. sanctions that have made it increasingly difficult to trade with Tehran.
While Iran and Pakistan haven't been major trading partners historically, economic ties between the two nations are growing stronger - particularly with the construction of a pipeline to carry Iranian natural gas to energy-starved Pakistan, a project scheduled to be completed by the end of 2014.
The Pakistani government has vowed to go ahead with the pipeline project - despite repeated warnings from Washington that it would violate U.S. sanctions - because its economy has been hamstrung by major shortages in electricity and gas supplies.
Pakistan's enhanced ties with Iran have irked U.S. officials and contributed to tensions between Washington and Islamabad, impeding U.S. efforts to enlist Pakistan's help in finding a peace deal in neighboring Afghanistan.
Iran is locked in a confrontation with the United States and Western powers over its nuclear program, which the West says is aimed at developing a nuclear weapon, while Iran insists it's for peaceful purposes. Since the imposition of harsher U.S. and European sanctions in recent months - aimed at choking off Iran's international oil sales - Iran has offered energy products to Pakistan on increasingly softer terms.
Having completed its section of the natural gas pipeline, Iran has offered Pakistan the $250 million it needs to finance its section. Tehran also has offered to increase oil exports to Pakistan while deferring payment - a favor Pakistan's major suppliers, Saudi Arabia and Kuwait, have declined to grant - and has proposed to pay for Pakistani food exports with discounted electricity and petroleum products.
Zardari is seeking to expand the arrangement to include Turkey, a major Iranian trading partner, as part of a push to build regional trading blocs within Asia.
Much of the envisioned expansion in Pakistani trade with Iran is likely to be conducted as barter, with prices based on dollar-denominated international commodity rates, the business leaders and banker said.
That's because Iran's political troubles would translate to discounted terms for their Pakistani trading partners. The arrangement would be viable for Iran because it plans to use imported Pakistani commodities as raw materials for its manufacturing sector to produce value-added goods, they said.
The Pakistani business leaders said smugglers would cash in on the opportunities generated by U.S. sanctions, whether legitimate businesses did or not.
"There is already considerable informal trade between the two countries, especially in cheap petroleum products, because of the shared land border," said Zulfikar Thaver, president of the union of small and medium enterprises. "The authorities on both sides privately condone it because it helps redress domestic imbalances in supply and demand."
The proposed trade is too massive to be conducted by road, so Pakistani wheat exports would have to be carried by ship. But freight insurance has become more difficult to obtain because the private clubs of ship owners that tend to provide that insurance are beginning to shy away from Iran-bound cargoes, fearing the impact of further U.S. and European sanctions.
Read more here: http://www.miamiherald.com/2012/03/12/2689971/seeking-new-trade-partners-iran.html - March 12, 2012 at 2:26 PM
- Riaz Haq said...
Here are excerpts of an Express Tribune by Dr. Ishrat Husain on investments & rule-of-law:
Growth rates in Pakistan since 2008 have declined to almost half of the level achieved in the preceding four years. The investment ratio in 2010-11 has been the lowest in the history of Pakistan. Most of the discussion on the stagnation and decline of the economy has rightly focused on fiscal deficits, energy shortages, inflation, and high interest rates. But the relationship between the rule of law and investment and business development is not much talked about in popular discourse. In the absence of a conducive legal environment, uncertainties created by other factors such as political instability, security, law and order, energy, etc., would make matters worse. But a well-functioning judicial system can reassure the investor and act as a countervailing force to these other negative attributes. An investor will part with his financial savings and share his expertise and experience only when he is assured that the firm will make profits. To achieve this, non-discriminatory and impartial application of law, enforcement of contracts, protection of property rights and speedy disposal of cases are necessary.
While we all rightly criticise the informal jirgas, sardari practices and Qazi Courts, the fact remains that we have been unable to extract the essential ingredients of these informal systems and enrich the formal legal systems. The uprising in Malakand Division was inspired by the mullahs who contrasted the speedy and expeditious justice of the Shariah Courts in the days of Wali of Swat, with the established judicial system applied in the area since the merger of Malakand in the province of Khyber-Pakhtunkhwa.
Access to judiciary is limited to only those who can afford good lawyers and pay their enormous fees and expenses. Unequal access to justice is one of the main factors that perpetuates the patronage capacity of politicians and, in turn, leads to poor economic governance. Feudalistic ethos that pervades our governance structure cannot be altered until all citizens are treated equally by law. Today, it is only the rich who can manipulate the system to their advantage.
As one of the leading Pakistani lawyers has so aptly commented that the English model –– on which the Code of Civil Procedures (CPC) 1908 was based –– was discarded even in England, a long time ago. The English model "preferred form over substance on account of this fundamental flaw, litigations continue in Pakistan for decades while lawyers squabble over issues of virtually no consequence. In each litigation there is a lawyer seeking justice for his client and an opposing lawyer who will very successfully prolong and delay the litigation, while liberally drawing upon various dilatory provision of CPC. Knock outs on the basis of hyper-technicalities and the causing of abnormal delays are, in fact, appreciated and considered 'assets' and 'qualities' of astute lawyers."
http://tribune.com.pk/story/350937/judicial-reforms-and-economic-growth/ - March 17, 2012 at 9:40 AM
- Riaz Haq said...
Here's a Reuters' report on India seeking to mine iron ore in Afghanistan & transport through Pakistan:
India will explore a route through rival Pakistan to transport iron ore from Afghanistan, the head of a consortium involved in the $11 billion project said, hoping that economic benefits will outweigh political hostility.
Despite a spike in tension in Afghanistan and uncertainty over the future once foreign combat forces leave in 2014, India was committed to developing the Hajigak mines and a 6 million tonne steel plant alongside, C. S. Verma, chairman of Steel Authority of India, told Reuters in an interview.
A contract is to be signed in two months in what will be the biggest foreign investment in Afghanistan's resources sector, larger than the $4.4 billion the Chinese are investing in the Aynak copper mine.
Mining work is expected to begin in late 2014 just when Afghan security forces take over security responsibilities and it remains a big concern whether they will be able to tackle a Taliban insurgency at its worst.
For the Indians, the challenge of transporting the ore out of the landlocked country is an additional issue given they have no direct access.
Pakistan is the obvious route and the alternative is a longer way westwards to Iran and then shipping it through the port of Chabahar that India has promoted to reduce Afghanistan's dependence on Pakistan.
But Verma told Reuters that the consortium made up of seven state and private firms was looking to move the ore along Pakistani roads crossing over to India, believing the benefits far outweighed political hostility between the two countries.
"What we have here is a gold mine, more than just an iron mine. I believe this is what everyone else will eventually realise. Ultimately the economic interests of everyone in the region including Pakistan will take precedence".
The Hajigak deposit contains an estimated 1.8 billion tonnes of ore, with an iron concentration of anything between 61 percent to 64 percent. "Where will you find such high grade ore? People have invested in mines elsewhere in the world with much less ferrous content," Verma said.
India, he said, would pursue the Pakistani option both as a way to truck the ore out and a route to build a slurry pipeline. "We are very bullish and believe that over the longer term this will be a productive investment. Not just for us, but others in the region including Pakistan. There are license fees, logistics, etc."..
http://www.reuters.com/article/2012/03/21/afghanistan-india-idUSL3E8EL1PB20120321 - March 21, 2012 at 8:38 AM
- Riaz Haq said...
Here's a Wall Street Journal report on Gilani-Singh meeting in Seoul:
Mr. Singh met Pakistan Prime Minister Yousuf Raza Gilani briefly on the sidelines of a nuclear summit in Seoul on Tuesday. He told reporters Wednesday that he'd thanked Mr. Gilani for recent trade concessions and offered to make an official visit to Pakistan.
"I had a good meeting with him. I thanked him for the trade concessions that they have announced. He said when are you coming there (Pakistan). So, I said let us do something solid so that we can celebrate," the Press Trust of India quoted him as saying. Mr Singh also said he told M. Gilani that he would "look into" the Pakistani leader's request for India to supply power.
The chumminess of this encounter is likely to annoy India's Pakistan hawks, who see no reason to make gestures toward Pakistan. Islamabad has failed to push ahead with the trials of the seven men it has charged with attacks on Mumbai in 2008 which killed more than 160 people and should be shunned until it does so, they argue.
Mr. Singh has taken a different approach.He invited Mr. Gilani to watch a World Cup cricket match between India and Pakistan a year ago, an act which sparked hopes of cricket diplomacy.
Although no breakthroughs have happened on the big issues that bedevil relations, like over the disputed Himalayan region of Kashmir or what India says is Pakistan's continued support of militant groups, India and Pakistan have edged forward in recent months on other, smaller issues, like trade.
Last month, Pakistan agreed to normalize trade with India by the end of the year, a move which is part of a strategy to build confidence without yet touching issue like Kashmir.
This is a strategy dear to Mr. Singh's heart. He's said in the past that building economic ties with Pakistan is crucial to achieve peace but also to give India access to trade through Central Asia and beyond.
But the focus on trade has angered some in India, who see it as obfuscating the goal of getting Pakistan to crack down on militant groups. In Pakistan, too, there has been some opposition to normalizing trade with India. Mr. Gilani told Mr. Singh getting domestic support for the move was not "entirely easy," PTI reported.
http://blogs.wsj.com/indiarealtime/2012/03/28/singh-says-hes-willing-to-visit-pakistan/ - March 28, 2012 at 9:04 AM
- Riaz Haq said...
Here's an excerpt from an Op Ed by LUMS professor Ijaz Nabi as published in The Hindu:
Anglo-Russian rivalry and the long Chinese slumber cut off the land routes and markets to the West and the North, and Pakistan-India disputes truncated the routes to the East. Independent Pakistan invested heavily in infrastructure and trade along the North-South corridor via Karachi replaced trade across land borders. For the first time in history, Pakistan's three historical regional centres achieved a high degree of connectivity defining an Indus Basin market across the length of modern day Pakistan.
The Indus Basin market that spurred growth rates of 6 per cent or more for several decades has now run its course. Pakistan thus has to create a new "vent" for long-term sustained economic growth that is regionally balanced. This requires reverting to geography and history.
Pakistan lies at the heart of a rapidly transforming world around its land borders. To the North and East are the skills and savings-rich economies of China and India with a combined population of over 2 billion growing at 8 per cent or more. To the West are resource rich Central Asia, Iran and the Persian Gulf states. Reopening the historical East-West-North trade routes and linking them with a strong North-South corridor will make Pakistan the trade hub of South Asia. And trade hubs, that lower cost of transporting materials and people, are precursors of industrial hubs that produce sustained economic growth.
This is the strategic vision that should guide Pakistan's trade relations with all its neighbours, including India, and not the short-term cost-benefit analysis of the impact of liberalisation on some niche manufacturers.
And how should India lift up its game? All paths to economic development and prosperity do not have to be routed through sweat shops catering to affluent western consumers. A large and vibrant Asian regional market would constitute a significant and, given demographic shifts, growing part of global demand for products. India's long-term strategic interest is to help create that Asian market. That, in turn, requires strengthening Pakistan to be an effective regional hub that connects the Asia-wide market.
http://www.thehindu.com/todays-paper/tp-opinion/article3252366.ece - March 28, 2012 at 9:18 PM
- Riaz Haq said...
Here's an Op Ed in The Nation written by economist and author Dr. Kamal Monnoo:
While there is no denying the fact that Pakistan's economic health, its global ratings and image per se are all taking a serious dent and, of course the recent (released in February 2012) IMF report on the state of the Pak economy notwithstanding, the reality also is that it has a very resilient and robust side that continues to surprise. A picture that depicts the glass to be at least half full, points to the sectors that are consistently growing and adding value and, more importantly, exposes the huge underlying economic potential which despite poor governance keeps taking the national economic activity to the next level. Amidst great adversities and serious financial challenges, there does exist a silver lining on how the economy has performed over the last 12 months and some of the positives going forward.
On the back of a slowly but surely evolving middle class, there exists a visible consumption boom in the economy where companies are going through a period when domestic sales have never been higher. An exceptionally high percentage of young employable youth is unearthing new dynamics, as these fresh minds strive to create their own opportunities, thereby unleashing a wave of innovative entrepreneurial benefits. For example, the quality and speed at which the Pak urban consumer and service sectors (fashion wear, eateries, home decor, healthcare centres, private education, beauty salons, leisure and entertainment etc) are growing has but a few parallels in the world.
The inflow of foreign exchange remittances by Non-Resident Pakistanis (NRP) has never been stronger and provided its current rate of growth does not stall, the government envisages that the final figure is well on course to touch the $18 billion per annum level. Add to this, the fact that our exports registered $25 billion in 2011 and the possibility that if we can somehow supplement these inflows from NRP remittances and national exports, by re-attracting the presently dried up Direct Foreign Investment, there actually exists a strong case for successfully balancing our current account status - Pakistan as we know (even with the oil prices are high) is an economy that traditionally imports between $35 and $38 billion per annum.
The reserves in the meanwhile have held their ground at around the $17 billion mark and when doing a regional comparative analysis on parity with the US dollar one finds that the Pak rupee has also fared better than most of its neighbours. In fact, against the European currencies, like the Euro and the Sterling, the Pak rupee has gained in value when comparing its parity during the pre- and post-European crisis periods.
Further, according to the latest data released by the FBR, the revenue collection this year is on target and is likely to cross the Rs2,000 billion mark for the first time in history. ...
Large Scale Manufacturing (LSM) has begun to turn the corner by registering a 1.50 percent growth from negative 0.80 percent in 2011, more than 1.50 million motorcycles were sold last year and Automobile Sector's sales are about 30 percent above from the fiscal year 2004-05 (regarded by auto pundits to be their best year). Companies and banks in general have announced healthier profits with especially the consumer goods companies leading the pack by churning out some unprecedented results. This coupled with the new policy announcement on investment in the shares markets has given a boost to the stock markets with the KSE (Karachi Stock Exchange) Index climbing to near 14,000 points. If the returns can continue to be interesting, such an opportunity is bound to even lure back foreign investment into the Pakistani markets.
http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/columns/28-Mar-2012/pakistan-s-economy-some-positives - March 29, 2012 at 11:03 AM
- Riaz Haq said...
Entrepreneurship to stimulate economic growth in Pakistan:
..Wayne Beeson, supporter of Expeditionary Economics and other entrepreneurial economics initiatives, spotlights and recommends in his blog the entrepreneurship-based Expeditionary Economics model for Pakistan and similar countries to stimulate and sustain economic growth. He explains that Expeditionary Economics was put forth by The Kauffman Foundation in 2010 as an alternative to the largely ineffective international economic development policies of the U.S. State Department for the purpose of developing economic growth in areas where the U.S. is involved in counterinsurgency missions or disaster relief. Economic growth is vital for the stability of countries challenged by war and disaster. Mr. Beeson agrees with The Kauffman Foundation that entrepreneur-led economies are a proven model for developing economic growth.
"Entrepreneurship positively impacts the economic well-being of individuals, families, and nations, and Expeditionary Economics recommends entrepreneurship as the foundation of our international economic development policy and endeavors," says Mr. Beeson. He notes that Professor Looney's study on applying Expeditionary Economics to the economy of Pakistan to stimulate economic growth is not only a model for Pakistan, but also a model for other countries facing similar challenges.
"Professor Looney's study is the beginning of a plan of action to systematically implement entrepreneurial activity in a distressed economy in which the U.S. is committed to providing assistance for various reasons. If the U.S. can be successful in helping create prosperous, self-reliant economies, it is a win-win outcome. I individuals, families and nations prosper and support democratic reforms where the people of a country own their own economy and government, and the U.S. wins by having friends in the international community who support rather than threaten U.S., because they support our values and ideals," explains Mr. Beeson.
Professor Looney's paper can be downloaded at expeditionaryeconomics.org., or from this news release.
Read more: http://www.timesunion.com/business/press-releases/article/Wayne-Beeson-Recommends-Expeditionary-Economics-3437021.php
http://www.foreignaffairs.com/articles/66207/carl-j-schramm/expeditionary-economics - March 29, 2012 at 5:30 PM
- Riaz Haq said...
Here's a Council on Foreign Relations (CFR) blog on regional trade in South Asia:
South Asia is among the least economically integrated regions of the world, in part because partition cleaved apart various natural economic communities. Regions, such as Bengal, which had been well integrated historically, suffered considerable economic ill effects. And post-1947 policies have only exacerbated the problem through tariffs, production restrictions, and various trade controls.
So it's interesting that Indian foreign policymakers seem, in various ways, to be reemphasizing the economic dimensions of their country's strategy. At a conference in New Delhi last week, for example, Shivshankar Menon, India's savvy national security advisor, urged India and its neighbors to refocus on economic integration. Ironically, Menon argued, economic success has raised the costs of not doing business.
This is why it's encouraging that Menon and others in India seem to be giving regional trade integration new emphasis. After all, India's size and rapid growth give it some potential to help lead the way.
Here are three areas that bear watching:
The Strategic Consequences of Indian Growth
First, how will India choose to play the strategic consequences of its economic growth?
My friend, Sanjaya Baru, has long argued that India should work not just for India-Pakistan bilateral cooperation or regional cooperation within the South Asian Association for Regional Cooperation (SAARC) but also on a parallel track. Given the slow pace of the former two efforts, Sanjaya has written, "it may be necessary for India to … see if regional economic cooperation can be pursued at a faster pace in a wider South Asian context."
One vehicle, he has argued, might be an expanded "Bay of Bengal Community." This would build eastward off the platform of an existing effort, "BIMSTEC," which involves technical cooperation among Bangladesh, Bhutan, India, Nepal, Sri Lanka, and two Southeast Asian countries—Myanmar and Thailand. And if Myanmar's process of political opening ultimately proves to be real (and is matched by an economic opening), then India would be well positioned to help forge new patterns of integration between South and Southeast Asia.
Melding Economics into Indian Strategy
Now, flip from the strategic consequences of economic growth to the economic dimensions of Indian strategy.
Mohsin Khan of the Peterson Institute has argued that Pakistan's November 2011 decision to grant most favored nation (MFN) status to India could prove especially significant. Of course obstacles remain, but Pakistan has continued to take important and constructive steps—for example, shifting from a "positive" to a "negative list"-based import regime with a February 29 Cabinet decision. India's trade minister, Anand Sharma, has noted that this step will increase from 17% to about 90% the number of items that India can trade with Pakistan.
There has been movement elsewhere as well—with Bangladesh and Sri Lanka, for example. Over at Ajay Shah's blog on the Indian economy, there is a good debate about whether and how India's growth may have spillover effects elsewhere in South Asia.
The bottom line is this: India's debate about economics and strategy is intensifying. And to my mind, at least, that is a decidedly good thing. After all, India's success will increasingly depend on how New Delhi (and India's states) respond to opportunities generated beyond the country's borders.
http://blogs.cfr.org/asia/2012/03/22/economics-and-indian-strategy/ - March 29, 2012 at 7:43 PM
- Riaz Haq said...
Pakistan to get GSP preferences in EU, reports The News:
Pakistan will soon get the generalised system of preferences (GSP) plus status from the European Union, which will ensure 80 percent of the local items get duty-free access to the 27-country family market, an official said on Friday.
Federal Commerce Secretary Zafar Mehmood in a meeting with the business community at the Islamabad Chamber of Commerce and Industry (ICCI) said that in the next few months the parliament will promulgate the Trade Organizations Ordinance 2007.
"The private sector is the engine of economic growth and the government would not implement the free trade regime without ensuring level-playing field for its exporters. All decisions regarding negative lists would be made keeping in view the national interests, as the World Trade Organization's (WTO) trading arrangements also provide trade defence measures in case of unfair trade practices or any threat to the local industry."
ICCI President Yassar Sakhi Butt said the chambers and the business community should be taken on board in the budget-making process.
It should also give weightage to the proposals that are submitted by the chamber and associations instead of taking unilateral decisions, he said.
The Ministry of Commerce in collaboration with the Ministry of Industries and industrial zones should conduct a study to find out those industries that were really vulnerable in post-MFN scenario, establish their database and support them with the subsidised utility rates for three-four years so that they could come out of vulnerable situation and compete effectively.
http://www.thenews.com.pk/Todays-News-3-100353-Pakistan-soon-to-get-GSP-plus-status - March 30, 2012 at 8:09 PM
- Riaz Haq said...
Here's NY Times piece by Jim Yardley on growing clout of Indian business lobby in New Delhi's policies:
The foray into Pakistan is further proof of the increasingly important role of India's private sector in foreign policy. India's leaders, eager for a bigger footprint in global affairs, now aspire to a permanent seat on an expanded United Nations Security Council. But the Indian Foreign Service, though consisting of top-notch officers, is too understaffed to provide a comprehensive global presence.
To compensate, the government often relies on the private sector to serve as an intermediary abroad. India's two leading business groups — C.I.I. (the Confederation of Indian Industry) and Ficci (the Federation of Indian Chambers of Commerce and Industry) — now have offices around the world and sponsor informal diplomatic dialogues between India and countries like Japan, China, Singapore and the United States.
http://india.blogs.nytimes.com/2012/04/02/indias-industry-helps-open-a-door-to-the-world/ - April 2, 2012 at 8:33 AM
- Riaz Haq said...
Here's a Pak Observer story on UK-Pakistan trade:
British Deputy High Commissioner, Alison Blake says relations between her country and Pakistan have always been cordial and continued to grow.
In an exclusive interview with Pakistan Observer she said trade between the two countries will double in three years. More than 100 British companies are operating in Pakistan and more intend to join them.
She said "the hall-mark of our foreign policy for Pakistan is 'people to people' approach. "This is the way to deepen relations between the two nations," she observed.
Blake said: "The UK and Pakistan are deeply connected. Yet not many people know about the connections in terms of people, trade, culture, education and development that form our unbreakable partnership".
She spoke of key facts regarding Pakistan-UK relations: The UK is home to the largest overseas Pakistani community, approximately 1.2 million today. There are 30,000 Pakistanis studying in the UK at any one time. British Pakistanis are heavily involved in all levels of British politics. From MPs in the House of Commons to Peers in the House of Lords including Baron Nazir Ahmed and Baroness Warsi.
On bilateral trade she said: UK & Pakistan have an ambitious target to boost bilateral trade in goods and services from the 2010 level of £2.0 billion to at least £2.5 billion by 2015. The UK is the top destination in Europe for exports from Pakistan. Pakistan's exports to the UK rose by 17% from Jan to Oct 2011, with particularly strong growth in textiles. UK is the largest European investor in Pakistan. UK is Pakistan's strongest advocate for market access to the EU. UK is the 3rd largest overseas investor in Pakistan with 13.46% market share (FY 2009-10). Over 100 British Companies operate in Pakistan with major interests in the Pharmaceutical, Financial Services, Energy and Retail sectors. On education, the British Deputy High Commissioner said: There are 30,000 Pakistanis studying in the UK at any one time. There are more people studying for O and A levels in Pakistan – some 170,000 of them - more than anywhere else outside of the UK. Pakistan is British Council's largest overseas market for exams. UKaid will spend £650 million on education in Pakistan over the next 4 years. The UKaid funds will help to get more than four million children into school. UKaid will recruit and train an additional 90,000 teachers in Pakistan. UKaid will supply more than six million textbooks sets. UKaid will construct or rehabilitate more than 43,000 classrooms in Pakistan. Alison Blake said that the United Kingdom is home to the largest overseas Pakistani community. The population of British Pakistanis has grown from about 10,000 in 1951 to approximately 1.2 million today. She said: British Pakistanis are heavily involved in all levels of British politics. From MPs in the House of Commons including Sadiq Khan (MP for Tooting) Khalid Mahmood (MP for Birmingham Perry Barr) and Mohammad Sarwar (MP for Glasgow Central) to Peers in the House of Lords including Baron Nazir Ahmed and Baroness Warsi. Baroness Warsi is also a current Cabinet member".
http://pakobserver.net/detailnews.asp?id=148206 - April 3, 2012 at 8:08 AM
- Riaz Haq said...
Here are some excerpts of a News interview with Pak industrialist Mian Mansha:
Q. What is your view on trade with India?
Mansha: I have always been a strong proponent of trade with India, which offers a bigger opportunity than China. We have many synergies, which were not exploited due to trade barriers between the two countries. We are keenly awaiting gradual removal of trade barriers between India and Pakistan.
Q: Why so many exhibitors are going to Lifestyle Pakistan Expo in India?
Mansha: Indians exhibited their products at Expo Center Lahore couple of months back. We are going to India to reciprocate and showcase our products in India. We produce one of the finest cotton fabrics for women, which are extremely popular in India. Besides some of our best designers are also exhibiting their cotton-lawn suits.
Q: India has granted MFN status to Pakistan long time back; how do you expect to penetrate Indian market now when you have failed in the past?
Mansha: I am optimistic that after liberalisation of trade from our side India would further open up. The mind set in both countries was changing. We were exporting a small quantity of our brand of lawn to our franchise in India but we were not allowed to establish our outlets, but then it was the same for the Indian businessmen in Pakistan.
Both the sides need to remove the non-tariff barriers to promote free trade. Indian Punjab has not kept pace with the growth in rest of India and they see open trade with Pakistan as the best way to achieve higher growth.
Apart from textiles, we want to open branches of our banks in India, as our banking system has an edge over Indian banks in services and efficiency. Similarly Indians would like to establish offices in Pakistan where they have an edge.
Q: How can free trade between the two countries flourish with several unresolved territorial disputes?
Mansha: I am against making trade hostage to political issues. There are many disputes between the members of European Union, but their leaders do not compromise the welfare of their people by stalling trade till resolution of those disputes.
We should go ahead with a gas pipeline project from Central Asia that carries gas for India. Pakistan would benefit through the service charges it would get for allowing gas passing through its region.
Q: Are you still facing non-tariff barriers in cement exports and how do you view last year's cotton export ban by India?
Mansha: Cement export to India is allowed by train only and you cannot export large quantities through train as the frequency of trains running between India and Pakistan is very low.
As far as the ban on export of cotton by India last year on confirmed orders was concerned it was not Pakistan specific. This measure though anti trade was applicable on all countries. .
http://www.thenews.com.pk/Todays-News-3-102987-India-offers-bigger-trade-opportunities-than-China-Mansha - April 15, 2012 at 9:37 AM
- Riaz Haq said...
Here's a WSJ Op Ed by Mike Boskin on India-Pakistan trade:
With their sizable nuclear arsenals and tensions over territory, water and terrorism, India and Pakistan pose staggering risks to South Asia. But they also offer outsize economic potential for their citizens, the region and the world. Leaders in both nations seeking peace, stability and a prosperous future should seize on free trade as the best way to further these goals. The time has come for an India-Pakistan free trade agreement.
Free trade would substantially increase trade and investment flows, incomes and employment, and it would give the citizens of both countries a far greater stake in the other's success. Economists of varying backgrounds agree that free trade is a positive-sum economic activity for all involved. In the seven years following Nafta, trade among the United States, Canada and Mexico tripled and real wages rose in each country.
The International Monetary Fund reports that direct trade between Pakistan and India was a pitifully small $2.7 billion in 2010, just two-thirds of India's trade with far smaller Sri Lanka. Remarkably, Pakistan's exports to Bangladesh are larger than those to India, though Bangladesh's economy is only 6% the size of India's. South Asia doesn't have enough trade.
The tool economists use to analyze bilateral trade, called the "gravity model," suggests trade should be proportional to the states' GDP and inversely proportional to the distance between them (a proxy for transportation costs). India's GDP of over $4 trillion is roughly nine times that of Pakistan's.
Estimates based on gravity models by Amitra Batra of Nehru University and Mohsin Khan of the Peterson Institute suggest that Pakistan-India trade could be at least 20 times larger with a bilateral free trade agreement than it is today. That's a staggering expansion of over $50 billion that would raise real wages in both countries.
The obstacles to such an agreement range from cross-border security concerns to old-fashioned protectionism. The perceived economic vulnerability to free trade of some domestic firms, sectors and regions can be addressed with transition relief such as worker retraining and tariff phase-in periods.
Realistically, it will take several years to negotiate and implement a free trade agreement between India and Pakistan. Even with strong political leadership, negotiating Nafta took four years.
Still, Pakistan President Asif Ali Zardari and Indian Prime Minister Manmohan Singh spoke of the importance of trade in their brief meeting earlier this month in New Delhi. Both men appear to understand that trade liberalization is economically necessary and will diffuse tensions between these two nuclear nations. The next step is to initiate high-level discussions of a free trade agreement.
http://online.wsj.com/article/SB10001424052702304444604577338170624567022.html - April 15, 2012 at 8:46 PM
- Riaz Haq said...
Here's a CNN blog post on US pushing economic integration in central and south Asia region:
The United States aims to promote stability in Central Asia by encouraging trade in the region, U.S. Secretary of State Hilary Clinton told CNN.
The American strategy focuses on bolstering north-south trade, linking India and Pakistan via Afghanistan to the former Soviet republics of Central Asia.
"If people are trading with each other, if they are investing in each other's countries, if they are engaged in commerce of all kinds, there develop relationships and, frankly, stakes in peace and security that are desperately needed," Clinton told CNN's Jill Dougherty.
"Security yes, we have to work on that, but what is really promising is the economic integration of the entire region," she added.
But for many countries in the region, economic integration is seen as secondary to security. Instead of borders opening to trade, many are closing. But Clinton cited increased trade between India and Pakistan and across the Pakistan-Afghanistan border as examples of progress.
She added: "There is an important idea of a pipeline that would carry gas from Turkmenistan through Afghanistan and Pakistan into India; all four countries are in support.
"There are roads and bridges being planned that come from Kazakhstan through Uzbekistan into Afghanistan that go through Turkmenistan to the sea. There's just a lot of ideas."
And she said trade could help combat extremism in the region. "Some countries would like to build a 20-foot wall because they worry about extremists from other places," said Clinton. "That's just not realistic in the 21st century. It's far better to develop your economy to trade with your neighbours to give your young people jobs. That's one of the best arguments against extremism."
Clinton gave Uzbekistan as an example of U.S. investment, where an American automobile manufacturing plant is producing cars for export in the region.
"Each country has unique assets that can be capitalized on but no country alone can maximize their economic potential without opening their borders to more trade and investment," she said. "So while we work bi-laterally with a lot of these countries to help them, we also continue to preach the idea of economic integration."
She added: "We do have to put security at the forefront, and the United States has helped every one of these countries with security. But what is security for? It is to enable people to have a better life and one of those is by raising the stand of living and business, investment, and trade can do that."
http://business.blogs.cnn.com/2012/05/03/clinton-trade-key-to-fighting-extremism/?hpt=wo_c2 - May 3, 2012 at 6:34 PM
- Riaz Haq said...
$20 billion India-Pak trade in 3 years, reports Chicago Trib:
Pakistan and India bilateral trade is expected to reach $10 billion during the next three years, a top official said.
The Most Favoured Nation status to India and opening of bank branches by early next year will pave the way for direct trade between the neighbours and reduce the cost of import through third country.
"Bilateral trade may reach $6 billion mark within a year or two as the two nations act fast on easing visa rules, removing non-tariff barriers and reducing the negative list," Tariq Puri, chief executive of Trade Development Authority of Pakistan, told Pakistan and India official bilateral trade stood firm around $2.7 billion and heavily tilted in New Delhi's favour. The MFN status to India by year-end may prove the 'game-changer' that will drastically reduce illicit trade through third countries.
"The exchange of goods through third-country will drastically drop and cut the Pakistan import bill by 20 to 30 per cent because of reduction in import costs," Puri said.
Pakistan's federal cabinet approved a negative list of 1,209 for India, which will be phased out in three installments by December 31 this year, after the grant of MFN status to India. The MFN status will mean India can export 6,800 items to Pakistan, up from around 2,000 at present. "We started the process to normalise the trade with India last year in April. Both the countries have adopted a well-structured and calibrated approach and made steady progress," he said adding that next secretary-level talks are due to held in Pakistan this month.
"Negotiations to set up bank branches in each other country are underway and we hope further progress on easing visa rules for Pakistani businessmen and removing non-tariff barriers on Pak goods import in India in next meeting."
"It's a step-by-step approach that will benefit both the countries," he added.
He said two countries in April inaugurated a trading post at Attari-Wagah crossing that will help speed-up transportation of goods to either side of the border. It is expected that number of daily trucks crossing the border will sharply go up to four times to 600 from present level of 150.
He said the MFN status to India, setting up of bank branches and easing visa rules will help boost bilateral trade and pave the way for frequent exchange of trade delegations and arrange exhibitions in the two countries.
Pakistan successfully concluded a lifestyle exhibition in New Delhi last month while India attended the similar expo in November. "The exhibition will go a long way in opening of trade opportunities for Pakistan business," he said.
Puri dispelled the impression that Pakistani products will not be able to compete in Indian market. "Pakistani products are competitive and known for its quality. We are competing in international markets in US, Europe and Middle East and can compete the Indian products as well."
"Pakistan achieved $25 billion exports target last year due to enabling environment. This year, we are sustaining the same level despite economic problems in Europe and some other international markets," he said.
Puri, at the investment meeting, also presented a snapshot of Pakistan trade with major regions like NAFTA, Saarc, Asean, EU where tremendous opportunities exists for Pakistani businessmen.
http://www.chicagotribune.com/business/sns-mct-indo-pak-bilateral-trade-may-reach-10b-in-3-years-20120504,0,1209932.story - May 4, 2012 at 5:03 PM
- Riaz Haq said...
Here's David Brooks in NY Times on Uncle Sam's role in promoting business & industry:
From the dawn of the republic, the federal government has played a vital role in American economic life. Government promoted industrial development in the 18th century, transportation in the 19th, communications in the 20th and biotechnology today.
But the federal role has historically been sharply limited. The man who initiated that role, Alexander Hamilton, was a nationalist. His primary goal was to enhance national power and eminence, not to make individuals rich or equal.
This version of economic nationalism meant that he and the people who followed in his path — the Whigs, the early Republicans and the early progressives — focused on long-term structural development, not on providing jobs right now. They had their sights on the horizon, building the infrastructure, education and research facilities required for future greatness. This nationalism also led generations of leaders to assume that there is a rough harmony of interests between capital and labor. People in this tradition reject efforts to divide the country between haves and have-nots.
Finally, this nationalism meant that policy emphasized dynamism, and opportunity more than security, equality and comfort. While European governments in the 19th and early 20th centuries focused on protecting producers and workers, the U.S. government focused more on innovation and education.
Because of these priorities, and these restrictions on the federal role, the government could be energetic without ever becoming gigantic. Through the 19th century, the federal government consumed about 4 percent of the national gross domestic product in peacetime. Even through the New Deal, it consumed less than 10 percent.
Meanwhile, America prospered.
But this Hamiltonian approach has been largely abandoned. The abandonment came in three phases. First, the progressive era. The progressives were right to increase regulations to protect workers and consumers. But the late progressives had excessive faith in the power of government planners to rationalize national life. This was antithetical to the Hamiltonian tradition, which was much more skeptical about how much we can know and much more respectful toward the complexity of the world.
Second, the New Deal. Franklin Roosevelt was right to energetically respond to the Depression. But the New Deal's dictum — that people don't eat in the long run; they eat every day — was eventually corrosive. Politicians since have paid less attention to long-term structures and more to how many jobs they "create" in a specific month. Americans have been corrupted by the allure of debt, sacrificing future development for the sake of present spending and tax cuts.
Third, the Great Society. Lyndon Johnson was right to use government to do more to protect Americans from the vicissitudes of capitalism. But he made a series of open-ended promises, especially on health care. He tried to bind voters to the Democratic Party with a web of middle-class subsidies.
We're not going back to the 19th-century governing philosophy of Hamilton, Clay and Lincoln. But that tradition offers guidance. The question is not whether government is inherently good or evil, but what government does.
Does government encourage long-term innovation or leave behind long-term debt for short-term expenditure? Does government nurture an enterprising citizenry, or a secure but less energetic one?
If the U.S. doesn't modernize its governing institutions, the nation will stagnate. The ghost of Hamilton will be displeased.
http://www.nytimes.com/2012/05/29/opinion/brooks-the-role-of-uncle-sam.html?_r=1&ref=davidbrooks - May 29, 2012 at 1:46 PM
- Riaz Haq said...
Here's Dambisa Moyo's interview on China's relationship with Africa:
A: There's nothing wrong about China going around the world making resource deals to support its growing population. What it's doing makes a lot of sense. Yes, my concern is that other countries will not catch on until it is too late. In a zero-sum world, what will happen if China wins the race for resources? Other countries seem to be asleep while China is making a concerted effort. Some 24 ongoing wars and violent conflicts have their origins in commodities, and this trend is poised to continue. China is befriending what I call "the Axis of the Unloved"—countries and regions such as Africa, Brazil, Colombia, Argentina and parts of Eastern Europe that have been basically ignored by the Western economies. China is the leading trading partner and foreign investor in many of these countries—a very different approach to the West's largely aid-based model.
Q: The Chinese economic edge in this is that its state capitalism offers advantages that the Western laissez-faire model does not.
A: Favoured Chinese companies have a zero or near-zero cost of capital. State-owned banks provide highly concessional credit lines, in the form of government grants or low-interest loans. Favoured companies also benefit from tax breaks and the preferential allocation of key contracts. Like the US$12-billion credit line extended to Wuhan Iron and Steel, a major steel producer, by the state-owned China Development Bank, for financing "overseas resource base construction." And of course it helps to have a war chest of over US$3 trillion, while Western economies are struggling with cash constraints.
Q: The Chinese political edge is that it's famously untroubled by governance issues in the countries it deals with.
A: Well frankly, in practice there is little to distinguish between the commodity counterparts of Western nations and those of China. U.S. and European countries are just as happy as China to strike deals with countries with less than pristine reputations—whether it's Saudi Arabia, Venezuela or Russia. Two wrongs don't make a right, but in this narrow sense, it's unfair to constantly point fingers at China.
Q: So you think that criticism of China on both scores—cheating, so to speak, economically and being too comfortable with dictators politically—is often unfair and wrong?
A: Cheating is one thing, meddling in the markets is a whole other thing. Virtually all governments meddle in the commodities markets. Western governments are particularly egregious in this respect. The United States paid US$6 billion in commodity subsidies in 2010. OECD countries spend a total of US$226 billion on agricultural subsidies yearly. And in the EU, the Common Agricultural Policy sees some 40 billion euros spent on direct farm subsidies. So if meddling in the market is "cheating," China has a lot of company. And the West has never had much of a problem dealing with despots and dictators if there is a benefit to be gained.
A: I think the reasons are quite clear. China pursues strictly business, symbiotic relationships, trading access to commodities for infrastructure, employment and other economic benefits. Take employment. The construction of the Imboulou Dam in [the Republic of the] Congo in 2010 employed 2,000 locals (compared to 400 Chinese). Survey results indicate that Africans much prefer to deal with the Chinese than with Westerners. In Ivory Coast, Mali, and Kenya, more than 90 per cent of respondents see China's economic growth as "a good thing." In Tanzania, 78 per cent agree, but only 36 per cent feel the same way about American influence. The difference is stark. Across the developing world, people want jobs, infrastructure and investment and the Chinese engagement does exactly that. ....
http://www2.macleans.ca/2012/06/04/dambisa-moyo-on-resource-scarcity-and-chinas-race-for-deals - June 5, 2012 at 7:41 PM
- Riaz Haq said...
Pakistan gets EU trade preference, reports Express Tribune:
The European Parliament's plan of doing more "for poorer countries" has opened trade gates for three new countries including Pakistan.
The new rules will enable Pakistan, Philippines and Ukraine to apply for zero duty access on their exports to the EU under the "GSP+" incentive scheme, according to a Parliament statement.
"The new EU trade scheme is more predictable and more generous to countries that deserve it," said British Conservative MEP and Legal Affairs spokesperson, Sajjad Karim. Pakistan will be allowed to apply for zero duty access if they agree to abide by the 27 international conventions in the field of human rights.
The new rules will reduce the number of countries that enjoy preferential access to EU markets from 176 to around 75. It will also reduce the total value of imports that qualify for EU preferences from 60 billion euros in 2009 to about 37.7 billion euros in 2014.
The updated generalised system of preferences (GSP), the Parliament informed, removes tariff preferences, such as reduced or zero duties, for EU imports from countries where per capita income has exceeded US 4,000 for four years. This rule ousted Russia, Brazil and Saudi Arabia from the beneficiaries list and will now have compete on an equal footing with the EU in world markets. Latin American countries Argentina, Brazil and Uruguay remained out of the benefitting list.
The GSP plus scheme will contribute to the promotion of human rights, democracy and freedom of speech in the developing world, added Karim who is also Chairman of the European Parliament Friends of Pakistan Group.
"The European Parliament Friends of Pakistan group has been campaigning to increase the threshold of the GSP+ scheme to allow Pakistan to enjoy more trade with the EU."
He also dismissed the few MEPs who called for Pakistan not to be included in the trade scheme in a European Parliament debate on Monday.
"The clear long-term strategy is for the EU and Pakistan to cooperate on a wide range of issues including trade, security and policy. The EU-Pakistan Five Year Engagement Plan and the recent successful launch of the first Strategic Dialogue in Islamabad this month with Baroness Ashton is clear evidence of that," he added.
http://tribune.com.pk/story/394306/vip-status-pakistan-added-to-eu-trade-preference-list/ - June 15, 2012 at 9:08 PM
- Riaz Haq said...
Here's Express Tribune on changes in Pakistani export destinations:
...While the European Union is still by far the largest destination for Pakistani exports, South Asia – which includes Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka – is now the second-most important market for Pakistani products. The EU absorbed 24.6% of Pakistani exports, compared to 28.4% in 2003. By contrast, South Asia used to account for just 6.3% of Pakistani exports in 2003 and is now the destination for 16.7% of Pakistan's export earnings.
This growth appears to be led by Afghanistan, which is now Pakistan's second-largest single country market, behind the US. Pakistan exported $3.8 billion worth of goods to the US in 2011 and about $2.7 billion to Afghanistan. The US and Canadian share of Pakistani exports has dropped from 24.7% in 2003 to 16% last year.
Perhaps surprising, however, is the growing importance of East Asia – particularly China – as an export destination for Pakistan. People are familiar with the fact that Pakistan's imports from China have been rising substantially. Yet most seem unaware that China is also one of the two fastest growing export destinations for Pakistan (the other being Afghanistan). Pakistani exports to China have been growing at 26.3% per year for the last eight years, making China the number four destination for Pakistani exports, up from number 13 eight years ago.
Pakistan's trade with China is, nonetheless, highly unequal and somewhat colonialist in nature. More than three-quarters of Pakistan's exports to China are raw materials, with cotton accounting for 70% of goods leaving Pakistan for Chinese ports. (China accounts for more than half of all raw cotton exports from Pakistan.) Meanwhile, China's exports to Pakistan – which totalled $6.5 billion last year – are mostly electronic equipment and industrial machinery.
An even more surprising fact: the importance of the Gulf Arab states to Pakistan's exporters appears to be declining rapidly. The Gulf Cooperation Council (GCC) – comprising Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain and Oman – now accounts for 11.1% of Pakistan's exports compared to 15% about eight years ago. Much of this shift is attributed to the fact that Pakistan now exports many more goods directly to India, compared to only a few years ago, when the UAE served as a conduit between the two countries.
And despite not granted preferential trade status to Pakistan, the EU has maintained its position as the largest destination for Pakistani exports. Within Europe, the biggest market for Pakistani exporters is Germany, followed by the United Kingdom and Italy.
While Pakistan's trade balance has been consistently deteriorating over the past few years, it has not done so uniformly. The bulk of the increase Pakistan's trade deficit can be attributed to higher oil prices, which have taken Pakistani imports from the Gulf to $16.1 billion in 2011, from just $3.8 billion in 2003.
The data on Pakistan's trade patterns reflects an important point: Pakistan is no different from the rest of the world when it comes to the fact that it relies increasingly on exports to Asia, rather than the older, developed markets of Europe and the US.....
http://tribune.com.pk/story/398363/shifting-patterns-pakistans-exports-tilting-to-asia-away-from-gcc-us/ - June 23, 2012 at 5:28 PM
- Riaz Haq said...
Here's an excerpt of a BR story on Zardari's visit to South Korea:
A major breakthrough came in the area of modernization of Railways. Pakistan, under the agreement, will seek high speed railways, communication systems, signaling, rail stock, modernization of operation and management, development of logistics parks and freight terminals, exchange of construction and maintenance technologies for infrastructure including tracks, bridges, overhead electrification and power supply systems.
The agreement was signed by Muhammad Arif Azim Secretary Railways and Minister of Railways of South Korea Kwon Do-youp. President Zardari in his meeting with President KORAIL Chung Chang-Young said Pakistan desired modern and efficient railways to help meet its growing industrial, agricultural and freight needs.
He said the current fleet of Pakistan Railways was unable to meet the needs of a growing nation and there was an urgent need to upgrade it.
The President who had a number of meetings with the heads of top Korean business houses said Pakistan was a heaven for foreign investors as the country's large consumer population promised good profits and lucrative business.
He said a large number of Korean companies were already operating in Pakistan and doing good business.
He said other companies can invest in many new areas while the existing ones can expand and diversify their operations. President KORAIL assured President Zardari that his company was willing to share its experiences and expertise with Pakistan Railways and help it develop on modern lines.
The President later witnessed the inking of a MoU under which Pakistan will be able to acquire used diesel locomotives and work for modernization, maintenance, operation and training of existing ones.
President Zardari during his meeting with the President and Chief Executive Officer of Samsung C&T said Pakistan needs to augment its energy resources to meet the growing demand of its industrial and domestic requirements...
http://www.brecorder.com/top-news/108-pakistan-top-news/93897-pakistan-korea-ink-six-accords-for-modernization-of-railways-lng-terminal-banking-cooperation-.html - December 4, 2012 at 9:38 AM
- Riaz Haq said...
Here's Economic Times on Indian Commerce Minister wanting India-Pak economic ties:
AGRA: Against the backdrop of chill in India-Pakistan relations, Commerce and Industry Minister Anand Sharma has pressed for the need for building confidence and trust particularly in the economic field, saying there is no alternative.
"India is of this considered view that there is no alternative way other than building an atmosphere of confidence and trust (to strengthen ties between India and Pakistan)...And for that the only way is the economic partnership," Sharma said at the CII's Global Partnership Summit here last evening.
The session was on "South Asia Economic Integration: On a New path of progress and Hope".
The statement come amidst chill in bilateral relations triggered by the beheading of an Indian soldier by Pakistani troops on Line of Control in Jammu and Kashmir on January 8.
After permitting FDI from Pakistan, he said India in the process of allowing its banks open branches in India.
Sharma asked the Pakistani delegations attending the session to tell their government to move forward.
"I know we have friends from Pakistan in the audience here. Please go back and remindBSE 5.00 % them what we discussed in last February, where we are and not to allow anything which actually holds this region back," he said.
Although Pakistan's Trade Minister Makhdoom Amin Fahim could not make it to this summit due to some internal compulsions, a small delegation attended it.
http://economictimes.indiatimes.com/news/economy/foreign-trade/economic-ties-only-way-forward-for-india-pakistan-anand-sharma/articleshow/18238418.cms - January 29, 2013 at 9:58 PM
- Riaz Haq said...
Here's a Nation news report on India's pervasive non-tariff barriers (NTBs):
India has one of the most restrictive trade regimes in the world, according to the World Trade Organisation (WTO).
Economists and WTO experts, quoting an annual report of the WTO, stated that the Indian government around seven years back initiated 191 safeguard actions compared to just 171 by China, a much larger economy. In fact, this was even higher than the number of actions initiated by the EU, also a much larger economic bloc.
And a new study conducted by the United States Agency for International Development (USAID) has revealed that India stands at the top in South Asian countries on the basis of trade restrictions imposed on neighboring countries, according to criteria set by the World Bank.
Experts pointed out that India is accused of using both tariff and non-tariff barriers to discourage imports from neighboring countries. It is no surprise, then, that trade between India and Pakistan is so skewed right now. The volume of trade is growing, but not in a way that seems to be of any real benefit to Pakistan. In 2006-07, Pakistan exported goods worth $342.9 million to India, against imports of $1.24 billion. In 2010-11, Pakistan's exports to India had dropped to $264.3 million, while imports from India had surged to $1.74 billion.
Giving an example, sources said that if the MFN status is granted to India without completion of infrastructure at the Wagha border, the prices of goods coming from India, will double due to the choking of trucks and the purpose of cheaper goods supply to people will not be served.
Experts maintained that a level playing field must be created for Pakistan's textile products relative to Indian products through implementing a uniform tax regime before the MFN status is granted to India.
The negative list lays restrictions on imports of 1,209 items from India, which includes 78 textile and apparel items. Pakistan's farmers fear that there is not a single agriculture item on the negative list or the sensitive list of Pakistani imports from India, except Tobacco and its different forms.
Insiders claim that phasing out of the negative list or MFN status to India will not have any negative impact on Pakistani agriculture as only one item, i.e. Tobacco will suffer from the grant of MFN status to India.
Pakistan will have to be mindful of the pitfalls of allowing completely unfettered and unhindered imports from a much larger and much more developed economy. The USAID report suggests that Pakistan should actually enhance the sensitive list to protect the local industry and agriculture sector following granting MFN status to India.
This year will see some major shifts, with some local industries having to suck it up and see the end of their life inside the bubble of protectionism. This will bring benefits for the local consumer, who will have access to more choices and cheaper products.
But it will also bring in threats to other industries which do not have the same benefits, or are as developed as their counterparts in India.
For a long time the governments were always lacking political will to grant Most Favoured Nation (MFN) status to India but industrialists, traders and civil society activists continued to advocate increasing trade with India, saying this would be a great way to forge better relations and solidify peace overtures between the two nations.
Currently the trade volume between India and Pakistan is about $2.5 billion and it is expected that this can be enhanced to $8 billion in the next two years.
http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/25-Feb-2013/india-has-one-of-the-most-restrictive-trade-regimes - February 24, 2013 at 10:19 PM
- Riaz Haq said...
Here's ET on policy research training with EU:
The Ministry of Commerce will conduct trade policy research in collaboration with the European Union (EU) for increasing exports and domestic commerce.
A statement issued by the ministry on Friday said that the EU will assist Pakistan in policy research on the initiatives contained in the recently announced three-year Strategic Trade Policy Framework (STPF) 2013-15.
In this regard, a meeting was held of the Public Private Dialogue Steering Committee, established by the Ministry of Commerce to hold public-private dialogue on specific trade policy issues and commission policy research studies.
The meeting also reviewed policy research studies, conducted during 2012, on enhancing export potential in livestock and dairy sectors, enhancing exports to Europe, enhancing competitiveness and export potential for trade with India.
- March 8, 2013 at 9:52 PM


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Why The Video Looks Shaky (Don Ward)
Updated: 06/18/2013 - We did a quick helicopter tour of the Black Forest burn area. Someone asked why the video looks shaky.
A Las Animas man was killed in a crash in southeast Colorado Thursday.
State troopers say 62-year-old Ronald Six died when his pickup went off Highway 50 and rolled.
The accident happened about 5 miles east of La Junta.
Troopers say alcohol, drugs and speed are not believed to be factors in the crash, but they're still investigating to learn exactly why it happened.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking "Report Abuse" and answering the questions that follow. We will review any reported comments promptly.
powered by DisqusUpdated: 06/18/2013 - We did a quick helicopter tour of the Black Forest burn area. Someone asked why the video looks shaky.
Updated: 05/20/2013 - Two weekends left to catch one great show!
Updated: 05/14/2013 - I'm still focused on meeting my goal of doing a pull-up. And I'm almost there! But I'm always getting this question:
Updated: 04/17/2013 - Crossing the finish line is such an awesome moment. It's hard to imagine what it has been like for the runners in Boston.
Updated: 04/09/2013 - Admittedly, there are days that I just don't feel like working out. But then I met Viola. And if she can make working out a priority at 99, then none of us have any excuses! Here's how she's living a FIT LIFE:

subset: commoncrawl


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News in Vienna
Was ist los in Wien
Folgende Hostel Informationen sind nur in englisch verfügbar
Winter in the MuseumsQuarter / 11.11.2011
Things get hot in the MuseumsQuartier from 10 November, even on the coldest of winter days. This is ensured by special punch creations in the new ice pavilions, the curling lane and a varied program with DJ sounds and all sorts of action.
The MuseumsQuartier in Vienna is not only a popular place to meet in summer. During "Winter in the MQ", the inner courtyard is transformed into an atmospheric winter location. Sophisticated punch specialties are served in the six new ice pavilions to warm visitors up. Video projections on the façades bathe the MQ in a very special light.
DJs provide a diverse mix of music for warming sounds during "Winter in the MQ". There's a great throng every year at the popular curling lane. The pond of the MuseumsQuartier hosts the "Winter Race" - with remote-controlled cars.
For more information visit http://www.wien.info/en


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Hiking southwest from Gothic Campground the trail begins with a few switchbacks. The campground lies at 9,630 feet and the trail climbs to 10,400 feet within a mile of the trailhead. The trail parallels Rock Creek for a mile and a half then crosses the creek turning sharply southward. (Approximately a quarter mile from the stream crossing a faint trail leads southeastward on the ridge that will become Gothic Mountain summit.) The trail begins to gain elevation after crossing the stream. A half mile from the Rock Creek crossing Washington Gulch Trail splits. The right side of the fork leads to the Painter Boy Mine Road and the left side of the fork leads to Washington Gulch Road south of Elkton. The mileage for this trail is four and a half miles one way.
Directions from Crested Butte: Travel one mile north on Highway 135 to Washington Gulch Road, which is well marked. Then drive northwest six miles to the beginning of Trail 403.
Directions from Crested Butte: Travel eight miles north on Highway 135, which becomes Gothic Road. The trail is located a quarter mile north of Gothic Campground.
Directions from Crested Butte: Access #1:Travel one mile north on Gothic road. Then six miles north on Washington Gulch Road.
Directions from Crested Butte: Access #2:Travel eight miles north on Gothic Road. The trail is located 1/4 mile north of Gothic campground.
No trip reports filed to date. Please be the first one to do so!
Washington Gulch Road #811 - Washington Gulch Road follows Washington Gulch to the abandoned town site of Elkton. It may be combined with Slate River Road to make a loop back to Highway 135.
Visitor Information: Gunnison National Forest, 216 North Colorado , Gunnison, CO, 81230, Phone: 970-641-0471
Gunnison National Forest, 216 North Colorado , Gunnison, CO, 81230, Phone: 970-641-0471
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Taichi for Health, CC 8/17/13
Liping Julia Zhu
, L.Ac., founder of Qi Dragon Healing Center and a gold medalist in the 1996 International Martial Arts Tournament, is a certified Qigong and Taichi instructor from China and teaches Qigong at the American College of Traditional Chinese Medicine. Ms. Zhu is a former resident of the San Francisco Zen Center and currently has an acupuncture practice in San Francisco, CA.
For more information, refer to Liping's
web site
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Liping's bio and events at Green Gulch Farm
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LINK Development, an OTVentures portfolio company, is a leading software and services company in the Middle East. The company is a well established Egyptian development house with more than ten years of experience in the region. Through its offices in Egypt, the UAE, Saudi Arabia, Qatar and Italy, LINK Development has gained a well-founded understanding of the market and acquired a repertoire of clients including governments, multinationals and leading local companies operating on local, regional and international levels. Its clients include Fortune 500 companies in the region such as Microsoft, Intel and Pfizer in addition to having successfully implemented cutting-edge solutions for leading regional and multinational businesses and governments such as the Egyptian, e-Government, Saudi Post, Dubai Bank, WIND Italy, EGYPTAIR, PEPSICO, Dubai Land Department and many more. With a 400+-strong force of young employees, the company is one of the largest development houses in the region. Being a Microsoft Gold Certified Partner in six competency areas, the highest level of partner certification from Microsoft, LINK Development boasts best of breed team of .NET developers, designers, architects, project managers and quality engineers. With the company's long experience and its young and agile Microsoft certified professionals, its software development process has matured over the years and is improving to reflect its experience and impressive track record. Year on year, it continues to attain higher customer satisfaction levels. LINK Development is currently both ISO 9001:2000 certified and CMMI level 3 accredited.
Know More About LinkDev


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A Jefferson County constable will never work in law enforcement again after a plea deal in connection with a shooting.
David Whitlock reached that deal Tuesday, nearly a year after he shot an accused shoplifter in a parking lot.
Whitlock faced two serious felony charges related to the November 2011 shooting.
He took an Alford Plea and pleaded guilty to a lesser charge of assault under extreme emotional disturbance, which cut down his possible sentence by 10 years.
"You've been charged under this indictment with assault in the second degree as well as wanton endangerment in the first degree. If you're found guilty of those at trial, you face up to 15 years in the penitentiary and you'd also become a convicted felon," a judge said to Whitlock.
That was a chance Whitlock was unwilling to take, realizing a jury could convict him with the evidence.
In November 2011, Whitlock was shopping at a local Walmart when store managers asked for his assistance apprehending an alleged shoplifter, Tammie Ortiz.
When Whitlock tried to stop Ortiz in the parking lot, he fired his weapon into her car window, hitting her in the arm and face, seriously injuring her.
"He believed that he was acting appropriately and the gun accidentally discharged in the chaos," said Whitlock's attorney, Brian Butler.
The incident was caught on surveillance video, and the commonwealth ruled Whitlock acted wantonly and criminally assaulted Ortiz.


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Ditsy Floral Corset
Style: 25425836
*By Brandy Melville
*70% Cotton, 30% Nylon
*Machine Wash Cold
*Made in Italy
Measurements for Size Small:
Length (from top of strap): 16"
Bust (all around): 26"
Bottom Opening (all around - relaxed): 23"
Armhole Drop: 9"
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(NEWSER) – If there are four big networks and you finish fifth in the ratings, that's not good, right? Such is the fate of NBC in the February sweeps, reports Deadline. In the 20-day period, it had an average rating of 1.2 among the 18-49 set, which trails not only CBS (4.9), Fox (2.0), and ABC (1.7)—but Univision (1.5) as well.
This would be NBC's first last-place finish in a sweeps period, along with Univision's highest finish. CBS got help from the Super Bowl and Grammys, while NBC got sunk by duds such asDo No Harm and 1600 Penn, writes Dominic Patten. The Huffington Post has more—under a "must-flee TV" banner on the home page. In fairness, it notes that NBC actually won the November sweeps.


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The River Spey rises in the western Monadhliath Mountains, fifteen miles west of Newtonmore, and meanders east and north, sundering the Monadhliath range from the Cairngorms, and then flowing through the fertile Laigh o'Moray and the district called Strathspey until it meets the Moray Firth at Spey Bay. It is the fastest flowing river in Britain, and famous for its salmon fishing.
This is among the loveliest scenery in Scotland. It is also the principal whisky-producing region: Speyside has within it some forty-six operating distilleries - over half the total number in the entire country - and among them some of the most famous names.
Perhaps surprisingly, very few Speyside distilleries actually draw their water from the Spey itself, or from its famous tributary rivers, the Fiddich, Lossie and Dullan. They get it from adjacent springs and rivulets.
"It would be no true or, at least, no very discerning lover of whisky who could enter this almost sacred zone without awe."
(Aeneas MacDonald, 1930)
Speyside Malts' Characteristics
Speysides are essentially sweet whiskies. They have little peaty character (although some have a whiff of smoke) and their salient characteristic is estery - typically, this aroma is compared to pear-drops or solvent (nail varnish remover, particularly). They can be highly perfumed: scents of carnations, roses, violets, apples, bananas, cream soda and lemonade have all been discovered in Speyside malts.
They take maturation in sherry-wood well and can be rich and full bodied, medium and light-bodied.


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Kids Beds
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Nursery Glider Chairs
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Playroom Furniture
Mattresses & Foundations
Children's Furniture Designers
Home Delivery Options:Basic Delivery Surcharge $(+275.00)
Bam Six Drawer Dresser - White by Argington Keep all of your baby's clothes, toys and diapers in this Bam Six Drawer Dresser from Argington. The spacious drawers feature 80 lb drawer slides so you can fit as much as you need in this versatile dresser. With the finished back, this high quality dresser is everything you need to organize your kid's bedroom! This modern and sleek design will last from your little one's baby years to teenage years. This dresser arrives fully assembled and only requires the installation of the legs. Choose Ebony or White color options to match your kid's bedroom or nursery perfectly. AN IMPORTANT NOTE ABOUT SHIPPING THIS ITEM: Rosenberry Rooms makes every effort to make shipment of your furniture convenient for you. This item will be shipped via Basic Delivery, or Residential Curbside service, which means that the delivery truck will pull up to the curb and you will need to remove the item from the truck. We encourage you to make necessary arrangements in advance.Please note that there are other delivery options available for an upcharge. You may request a lift gate or inside delivery, where the drivers will deliver your item just inside the threshold. These fees will be assessed and charged after your order has been processed. We welcome you to contact customer service with questions: 1.877.214.6875.
SIZE: 40" x 18.5" x 34"
Category: Furniture, Kids Dressers & Chests


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Tuesday, 23 October 2012
Skinny Minnie
I was browsing stories at People online and my daughter Ava (6) was sitting next to me watching The Cat In the Hat on television...but she was really peeking over at the computer. I knew she was. You're crazy if you think your kids aren't watching everything you're doing. Anyway, I came across this article, New "Skinny Minnie" Mouse Angers Body-Image Activists.Barneys New York's holiday display features a madeover Minnie Mouse, possibly in commemoration of her 84th birthday. I showed my daughter the picture in the article, the one I put on this one as well. Since I knew she had seen it anyway, I opened dialogue about it. I asked her what she thought of it? Which picture did she prefer and why? What differences did she notice between the two Minnies?
She thankfully preferred the traditional Minnie Mouse. She said she was "cuter." When I asked her what was different about the madeover Minnie, the first thing she pointed to were her legs. "Those are smaller." Then, "Her eyes are a different color." I'm assuming she means the make-up. Then she noticed, which I did not, that the madeover Minnie's ears are pointed, "like a fox."
So, the good news is, at least my daughter prefers the normal Minnie Mouse. The bad news? She knew right away, at first notice, that the difference was weight. In order to be "high fashion" Minnie got skinny-fied.
What do you think of the makeover? Is it appropriate? Is it a big deal, or no big deal?
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Go | New | Find | Notify | Tools | Reply |
Mom told me this morning that she got a call on Friday, that went like this: "Good morning, Mrs. Seaman...this is Roger with the phone company. I've been tasked to correct a problem with your phone billing. It seems that we over-charged you last year, and you have a substantial adjustment due you." My mother asked..."What phone company are you with?" The man hung up... Obviously, he is not with any phone company...as he had no idea what carrier my mother uses...or he would have said so in the beginning. So, just beware...there's another scam out there. | |||
Fast thinking Mama! Thanks for the info and I, for one, will be on guard. | ||||
..... please allow me to jump on here and add another kind of warning - please remind your parents or other older folks, that they do not HAVE to answer questions on the phone just because someone asks them ,,,, there was my mom. recently widowed, telling some window sales guy that yes she needed new windows but Mr T had just died and she was alone and didn't have enough money in the SS check .. you get the picture .. MOM - I yelled, grabbed the phone and hung it up .. she thought I was rude, I thought she was about to be phone raped. None of us is safe from the predators, and while some phones sales are legit, we just can't be too careful. I cannot change 'things', but I can change how I feel about them. Me. Wounded Warrior Project www.woundedwarriorproject.org | ||||
Also, I got a phone call from some so called computer service tech at Microsoft about the software on my computer. When he asked what kind I was using I told him it was none of his flipping business and further I was on the do not call list and what business did he have calling me. He stammered and said what? When I told him I was going to report him and his company he hung up. | ||||
These are as bad as the ever annoying Rachel, who calls me once a week if not more..and nothing can be done to stop her. | ||||
Who is Rachel so I can keep my ear out for her? TerryOH | ||||
My neighbor fell for the phone call from "microsoft." She even gave him her credit card number. Then she had to spend the rest of the week closing her account and straighten out the mess. Then there's a SS scam. All that is needed to change anything electronically with SSA is an SS#, name and address. The crooks open a debit card and change the place of your direct deposit. You don't know until it is too late. I live in a small senior community of 1100 homes and more than a dozen have been hit. It appears these people may use the same doctor, lab or hospital. You can go online to SSA and block electronic access to your records. Changes then can only be made in person. I did it. | ||||
Rachel wants you to sign up for credit card relief.. and its a big scam and costs lots of money.. They dont' stop calling even if you tell them you have no debt. | ||||
"Rachel" has called me SO many times. I finally pressed 2 to "talk to a representative" but when he came on I told him I wanted the calls to stop and he hung up on me! Happy Stitching...Lois | ||||
I got a text on my cell phone telling me that I won $1000 from best Buy. I was really suspicious and googled it and it was a scam. so be aware of this too. Carolyn Carolyn http://bransoncofretreat.shutterfly.com/ Our lives are like quilts - bits and pieces, joy and sorrow, stitched with love. | ||||
I also get calls from Rachel- sometimes twice in one day. If you press the #3 to stop the calls from coming it does not work. Now I just let it ring, without answering it. Sue | ||||
Rachel isn't the only name she is using either. I can't remember, I think it was Lisa or something like that. All I know is that DH talked to her and she asked his cc# DH said if this was ligit she would Know his cc#. She hung up. We have to be so careful these days, | ||||
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Haydn Shaughnessy and the Next Generation Enterprise
Posted by: pennypacker
B2B Marketing, Blogroll, Thought Leadership, Thought Leadership Marketing
I'm finding that more and more my role here is going to be to point you to great thinking that's going on about thought leadership. I didn't know about Haydn Shaughnessy until this week, but I'm adding him to my blogroll today and suggest you do to.
Just this one quote from him is enough to make me appreciate his thinking:
Thought Leadership is not about controlling perceptions — it is about leading them. But leading them in tangible ways. It is not content fodder to bolster the brand. It is all about planning and advocating a route to a new way of doing business, and in ways that reflect well on everybody involved.
Shaughnessy is part of a group call the Next Generation Enterprise Think Tank. They focus on writing about the changing business landscape and how hyper-innovation is going to be critical to your business growth. Check them out.


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As a Florida Spirit guest you can now get 50% OFF on Capone's Dinner and Show!
Don't miss this opportunity to take your family to a dinner they will never forget!
If you haven't plan a special surprise for mom on Mother's day, we have some ideas for you...
Brooms up! If you didn't catch the openning cerimony today, there is still time to watch the finals tomorrow (Sunday - April 14) of the Quidditch World Cup Championship! And enjoy the After Party at The Wizarding World of Harry Potter!
It's time to roll up your sleeves and get ready for the Iron Man 70.3 - Florida! Whether you are an athlete competing or a supportive spectator, make your plans!
Spring has officially arrived!
... And to make it even better, Florida Spirit Vacation Homes is offering a $99 Special for stays between April 15th through June 15th!
St. Patrick's Day – Sunday - March 17, 2013
Have you chosen your green outfit for this weekend yet? St Patrick's Day is this Sunday March 17 and if you are in Orlando Florida you MUST have some FUN with it!
In the land where dreams come true and we have infinite reasons to celebrate life, St Patrick's Day is one of them!
Here are a few events going on this weekend that promise to be FUN:
A new Florida law has recently taken effect that requires all non-U.S. residents to have an international driving while operating a vehicle in Florida.
Saturday, February 9, Silver Spurs Arena, 321-697-3495 Don't miss this all bull riding event, offering thrilling 8-second rides and jaw-dropping wrecks as brave cowboys take on monstrous bulls. Also, enjoy a concert by local country singer Kenyon Lockry!
Mardi Gras is back at Universal Studios Orlando! On select nights, from February 9th – April 20th, you can join the largest Mardi Gras celebration this side of New Orleans!
Central Florida is experiencing "snow" and ICE! and it is forecasted to last through the end of December! But you don't have to pull out your heavy wool sweaters or pack your mittens and scarf just yet. We are simultaneously experiencing beautiful, sunny weather here as well, as if by some holiday miracle!
QUESTIONS? Visit our FAQ page or Contact Us One of our friendly staff members would be happy to help you!