China’s inflation is fast becoming the world’s problem
The country’s economy is still growing faster than expected. GDP rose by 9.7% for the first quarter of 2010. That was down on the 9.8% seen at the end of 2010, but higher than the 9.4% expected by analysts. More importantly, inflation was at an annual rate of 5.4% in March from 4.9% in February. Prices are now rising at their fastest since 2008. This looks set to continue. Brian Coulton at Legal and General Investment Management, says we should all be watching these figures. He reckons also that the threat of rising charges from China is being underestimated. The trouble is we have become accustomed to the price of consumer goods falling almost constantly. In the early part of this decade, the situation helped to keep down inflation in the developed world, because it offset the effects of loose monetary policies from Western central banks. These trends are bad economic news for the UK. Supplies of cheap labour in China are running low, wage inflation is harder to ignore. Wages are going up quite rapidly. The pool of young labour is drying up, this is partly because of the ‘one-child policy’. The danger facing China is clear. If it tightens too late, inflation takes off and social unrest explodes. There are good reasons for British managers to be cautious. The value of many companies’ shares depend greatly on the continued strength of China. Thanks to Bill Bonner.
Wonderful letter to ‘The Independent’ and spotted by ‘The Week’
: ‘I am glad the recent correspondence over the use of clichés and meaningless phrases is now coming to an end. That will allow those of us involved in serious management to get back to pushing the envelope, picking the low-hanging fruit, identifying the tall poppies to build our mission on, engaging users in an over-arching partnership paradigm for a fully-scoped direction of travel, having invoked the improvement levers in a cross-cutting benchmark of a rebaselined menu of options, using a situational horizon scanning process going forward to champion a systematic fulcrum of empowerment which mainstreams cascading best practice and core values.’ John McInerney, Tiverton, Devon
The two main parties are out-bidding each other with promises of a new morality
which, they say, will permeate the social fabric and improve the nature of families and communities. They frighten the pants off this scribe. I am all for doing good, but politicians imposing good send shivers down my spine. When moral rhetoric fills up the space, democratic politics subside. The focus shifts from what I should do, to what you have to do. Morality lends itself to categorising and judging our citizens into deserving and undeserving groups. It threatens to become a new and closed reality. There are dangers of legitimising abdication of responsibility. The proper passion and desire for change of values throws up simple ideas which become a bigger mess. There is not a quick-fix on this one.
Recruiters can match estate agents in the creative use of words
Here are a few interpretations:
- Challenging means impossible.
- Key position: you’ll take the flak.
- Self-motivated: you’re on your own.
- Tact and understanding: the politics are a nightmare.
- Friendly environment: cramped offices.
- Exciting opportunity: probably not.
Well, well. Analysis of labour market
‘One in four lap dancers has a degree.’ Daily Telegraph, 27 August 2010