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Remember our last class is this evening. I’ll be around in May and will be happy to meet with you anytime during that month.
Via the as-usual on-point Big Picture, here’s an Aljazeera English slide show on news apps. It’s interesting.
Frontline, the U.S. investigative TV program, has a new show on the financial crash.
Note that the IMF/World Bank/G-20 extravaganza has come and gone from Washington. The U.S. got its man Kim as World Bank president, and the IMF came up with another US$430 billion in bailout money for countries headed into debt trouble. No surprises, but no positive reaction from markets, either. Everything was discounted.
Don’t forget to watch the Murdochs testify on press ethics in Britain. James was up Tuesday, and it was pretty funny stuff.
Americans don’t trust the government, the press, business or, probably, you. From National Journal via the Big Picture.
From Wonkblog at Washington Post, some theories on why people don’t trust the news media nowadays.
Along the same lines, Propublica reports that U.S. news media owners, who should be 100% for transparency in political spending, are actually lobbying against more disclosure. The list:
- News Corp., which owns The Wall Street Journal and Fox News.
- Walt Disney, which owns ABC News and ESPN.
- NBCUniversal, which is owned by Comcast and includes NBC News.
- Allbritton, which owns several TV stations and Politico.
- Gannett Broadcasting, a division of Gannett, which owns USA Today:
- Post-Newsweek Stations, the broadcast division of The Washington Post Co..
- Belo Cos., which owns 20 TV stations.
- Cox Media Group, which owns The Atlanta Journal-Constitution, the Austin American-Statesman and other newspapers and TV stations.
- Dispatch Broadcast Group, which owns Ohio and Indiana TV stations.
- Barrington Broadcasting Group, which owns several TV stations around the country.
- The E.W. Scripps Co., which owns TV stations and newspapers, including The Commercial Appeal in Memphis, Tenn..
- Hearst Television Inc., which owns 29 stations.
- Raycom Media, which owns TV stations.
- Schurz Communications, which owns newspapers and TV stations nationwide.
It’s our last class, so please don’t miss it. We’ll be looking briefly at cybercrime, then at some tools to help keep you creative on important issues in the future.
An interesting slide show, via the Big Picture, of how consumerism will evolve in PRC. The rebalancing meme doing fine.
People’s Daily raises more than US$200 million in its Shanghai IPO, WSJ reports. Who says the future of news is bleak?
Spain pulled off a satisfactory bond sale, so Europe isn’t doomed, Reuters reports. Seems like only yesterday Europe was doomed. Actually, it was yesterday.
From Jim Romenesko, this essential quote from ABC television news: “We really weren’t compatible genitally. Imagine trying to fit a cucumber into a coin purse.” There’s always a future in entertainment coverage.
From Poynter’s Mediawire, an app that promotes “trending” articles on Facebook. I couldn’t find it, but apparently Facebook has been testing it. Now, let’s go out there with a robot and generate a trend.
From Bloomberg: The U.S. Labor Department changes the way it releases economic indicators, and the wire services are not happy because the new procedures seem designed to give TV news a built-in time advantage.
An NYT blog reports that ChinaCast Education Corp.’s headquarters were looted by hooligans. This is a real corporate control battle.
Via the Big Picture blog and MIT’s Technology Review, a visualization of what cities decide the music you’ll be listening to. Interesting.
Via the Big Picture again, a great fake Bank of America site that looks about as real as the real one.
Materials are now posted. Sorry to be late doing so. This special Friday class has killed by rhythm. We’ll just talk the future of news today, with special reference to business news.
Remember I’m buying drinks at the FCC Saturday, Apr. 21, from 2:30 p.m. until my bank account begins to hurt, a couple of hours at least. Drop by, particularly if you haven’t seen the world’s best press club. Dress is casual, but no shorts and flipflops, please.
By Julie Lina Zhu
While the Western world is still mired in debt crisis and stagnant economic growth, everyone turns to Asia, the engine driving global economy forward. In fact, most Asian countries are in much worse shape a century ago.
China, the prevailing case of Asian success stories, has maintained a stunning growth rate of over 10 percent in last three decades after the nation adopted an opening up and reform policy. And China is not alone. Something like a miracle has occurred in these nations.
In the two books, The Miracle: The Epic Story of Asia’s Quest for Wealth by Michael Schuman and East Asia and Globalization by Samuel S. Kim, the authors take a different approach to shed light upon the reasons behind the fascinating Asian growth story. Continue reading
By Wenjia Zhou
Book Review of Globalization-Debunking the Myths and The Return of Depression Economics
Globalization-Debunking the Myths
Authors advocate for globalization by discussing four aspects of globalization.
First of all, economically speaking, while globalization brings about many advantages, critics argue the globalization is a two-sided sword also brings about inequality. Authors think that for developing countries, a reform of system should be undertaken. Government’s active engagement is essential in order to fulfill the economic goal in a free-market.
Secondly, politically speaking, many critics argue that state has more pressure due to the fact that individuals are empowered to form association with the flow of ideas and information. On the contrary, authors argue that state mattes more, not less due to the fact it is the one who makes fundamental decisions. Thus, what the government should consider is not how to survive, but to rethink about how to make right regulations in order to embrace globalization (p67, Lui Hebron John F.Stack, JR).
Thirdly, culturally speaking, critics argue that globalization destroys the diversity of cultures internationally. Authors think that the opponents underestimate the customs systems of developing countries, as “the most successful cultures are the ones which embrace the values they want while rejecting the ones which are not beneficial.” (p98, Lui Hebron John F. Stack, JR) Continue reading
By Andrea Yu
Chances are that most of us taking your class are neither entrepreneurs or in the business of making buckets loads of money (otherwise, we wouldn’t have chosen the career path of journalism, am I right right?). But the two self-help style books that I chose for my book report aim to do just that – the first hopes to launch budding businesspeople into entrepreneurship while the second aims to teach me how to manage my money effectively at a personal level. Both books are very different in their approach and style, and, in my opinion, only one really gets the intended point across.
The first book I read was written by two CNN financial reporters and was published just this year. Written by Ali Velshi and Christine Romans, How to Speak Money was clearly aimed at the general public. The book is divided into chapters covering first-person explanations and anecdotes on how to speak money at work, in the market, on campus, on the home front and more. In a way how JMSC 7007 has function as (at least for me as a non business or finance-savvy person) a primer to concepts like mutual funds, bond yields and stocks. The chapter covering the market is the most applicable to our course, and indeed covered the similar concepts mentioned above. Continue reading
Decoding the China Growth Enigma
By Jing Yang
A locomotive of the global economy, China itself has posed numerous queries to economists around the world. Attempts to predict China’s downfall since the 1990s have failed one by one. While the world, especially the west, has to embrace China as a new heavyweight in the global arena, questions remain regarding what has driven its economy forward for the past three decades. An average 9.9 percent of annual growth rate in 30 years – something unparalleled and disapproved of by orthodoxy western economic theories. Luckily enough, two insiders’ books help straighten through the China Code. Demystifying the Chinese Economy by Justin Yifu Lin, and The Economic System of China by Steven Ng-Sheong Cheung.
Lin’s book, collected and translated from his lecture in Peking University, is a full account of China’s rise and fall in the latest 200 years. It combs through different stages of economic development in China, from the 1820s zenith where China accounted for one third of the global GDP to the humiliating pre-modern century of being thrashed and ceding territories, from the socialist/proletariat industrial overhaul to the demise of egalitarian communes, and eventually, what China has done to take off its battered economy.
Lin pivots his argument on “comparative advantage-defying, catching-up strategy” (CAD) and large state-owned enterprises (SOEs). Continue reading