News and Analysis: 23-27 Nov 09 | EmergingFrontierMarkets.com

Based in: Manila, Philippines

Posted on Fri, 27 Nov 09:

Stocks, commodities drop on Dubai concern; default swaps surge: Stocks fell around the world for a 2nd day, commodities dropped the most since July, Treasuries rose and credit default swaps surged as Dubai's attempt to delay debt repayments unnerved investors. Dubai World, the govt investment company burdened by $59B of liabilities, sought this wk to delay repayment on much of its debt, Bloomberg (self-updating link), 27 Nov 09 (Telegraph--Dubai's financial crisis Q&A)

Coffers: Forget BRIC--Your portfolio needs TICK: Much has been made of the growth of the BRIC - Brazil, Russia, India, and China. But the fact remains that despite their impressive growth rates, all of these nations remain very poor relative to the developed world. Some degree of BRIC exposure should probably be included in almost every investor's portfolio, but many might be better suited tilting their intl exposure to the 'TICK' bloc, Seeking Alpha, 4 Nov 09

Posted on Thu, 26 Nov 09:

India marks one year after deadly Mumbai attacks: Security has been improved in Mumbai in the last year after criticisms that the police lacked men, equipment and training to respond effectively. But experts and a no. of Indian newspaper editorials say more needs to be done to prevent another attack, w/ coastal security a priority, Agence France-Presse (courtesy Dawn/ Pakistan), 26 Nov 09

Michael Spence: Escaping the fossil fuel trap--In the run-up to Copenhagen, a Nobel Laureate '01 and fmr chair of the Growth Commission offers his thoughts on how to best reconcile the interests of the developed and the developing countries, Proj Syndicate (courtesy Santiago Times/ Chile), 24 Nov 09

Experts warn financial system risks still high: Govts need to rethink how the financial sector intersects w/ the broader economy if future crises are to be avoided, economists agreed at a recently held panel discussion. And emerging markets are moving out of the crisis with a new perspective as they move forward w/ their fincl development and broadening fincl access, one that emphasizes the importance of regulation, IMF Survey Mag, 10 Nov 09

Posted on Wed, 25 Nov 09:

Newsroom: Intl press group fears for media staff in Philippines danger zone as massacre toll grows: Some 46 people were killed in the atrocity in the troubled southern province of Maguindanao, among them at least 12 journalists and around 8 media staff, acc to the latest report. Under the current govt, the nation has become the most dangerous place in the world for media workers, w/ at least 74 journalists killed during its 8-yr tenure, Intl Fed Journalists, 24 Nov 09 (Reporters Without Borders--'Dark day for press freedom')

Book value: James Glassman--Where tech keeps booming: Review of Start-Up Nation, by Dan Senor and Saul Singer: Which country of just 7.1 million people attracted close to $2B in venture capital in '08, as much as flowed to the UK's 61 million citizens or the 145 million people living in Germany and France combined?, asks George W Bush Inst exec dir, Wall Street Journal, 23 Nov 09

Posted on Tue, 24 Nov 09:

Climate change puts world at 'tipping point': A new report, released by a major insurance firm and an environmental group, warned that the planet's atmosphere and ecosystems were close to dangerous 'tipping points' that could cause sea level rises of up to 0.50 meters. This would affect hundreds of millions of people and cost up to $28T in losses in 136 port megacities around the world. The report, "Major Tipping Points in the Earth's Climate System and Consequences for the Insurance Sector", was prepared by the Tyndall Ctr Climate Change Res and Andlug Consulting (both in UK). In terms of assets in jeopardy because of rising sea levels, China has the highest est. value, followed by US, India, Japan and Netherlands. Thailand, Vietnam, Bangladesh, Egypt, Indonesia and UAEmirates come next, Allianz/ WWF, 23 Nov 09 (Exec sum [pdf] | Interactive graphics)

Arvind Panagariya: Climate change and India--Is there a basis for US pressure?: In response to Secy Clinton's call for India to help combat global warming, India's environment minister said that India, w/ over 300m impoverished people, was not in a position to assume legally binding emissions. Is India being self-righteous and risking its own interest, or acting in self-interest while asserting its reasonable rights?, asks Columbia U economist and Brookings senior fellow, Forbes, 10 Aug 09 (Econ Times--Say 'No' at Copenhagen)

Posted on Mon, 23 Nov 09:

Tentative global econ recovery raises questions about reforms in post-crisis world: While nations around the world are recovering from the crisis, there are growing doubts that the reforms and restructuring needed to balance the global economy are being fully implemented. These were some of the views put forward at the 2nd Summit of the Global Agenda, w/ over 700 experts and thought leaders from biz, academe, civil society and govt, World Econ Forum, 20 Nov 09

Coffers: Jeremy Siegel--Why stocks still rock: The facts tell the dismal story. In the 10 yrs ending Dec '08, investors suffered a negative 3.2% real return in US stocks, constituting the 4th worst 10-yr period since 1871. Given the pummeling the stock market has taken this decade - even after this yr's rally, the S&P 500 index remains 32% below its all-time high reached in Oct '07 - many are now questioning whether stocks should be the cornerstone of investors' long-run portfolios, notes Univ Penn finance prof, Time, 16 Nov 09

John McArthur: The great generalists--We must ensure that new cadres of public leaders receive rigorous cross-disciplinary educ, and learn to follow evidence as it evolves. They must be trained to listen and think across the diversity of constituencies needed to draw global insights and build global coalitions. Above all, we must ensure that we do not let the problems they inherit run so far afield that they grow simply too big to be solved, says Intl Comm Educ Sustainable Devt Practice fmr co-chair, Global Brief, 1 Nov 09 (Digital newsroom--1st World Innov Summit for Educ outcomes)

EmergingFrontierMarkets.com

emerging and frontier markets:

the unofficial field guide