Economist经济学人杂志 英文版 4

《Economist经济学人杂志 英文版 4》由会员分享，可在线阅读，更多相关《Economist经济学人杂志 英文版 4（108页珍藏版）》请在装配图网上搜索。

1、Politics this weekApr 4th 2007 From The Economist print editionTortuous diplomacy continued in an effort to free 15 British sailors and marines captured recently by Iran, which said they had trespassed into Iranian waters at the top of the Persian Gulf. Britain, which denied the charge, said it has

2、proposed direct talks with Iran. See articleFollowing a threat from Kurdish members of Iraqs parliament to leave the unity government, a plan was agreed upon to offer compensation and land in Iraqs Arab south for Arabs willing to leave the disputed city of Kirkuk, which Kurds want to include in thei

3、r region. See articleIraqs most influential cleric, Grand Ayatollah Ali al-Sistani, who has been notably quieter in the past year or so, seemed to reject the unity governments plan to allow members of Saddam Husseins Baath Party back into public service. Sunni Arabs say this may hamper Shia-Sunni re

4、conciliation. Nancy Pelosi, the Democratic speaker of Americas House of Representatives, defied President George Bush by making a controversial visit to Syria, a country the Bush administration has sought to ostracise. See articleIsraels prime minister, Ehud Olmert, suggested holding talks with Saud

5、i Arabia on the Arab Leagues plan, relaunched last week, for normalising relations with Israel. The Arab Leagues secretary-general, Amr Moussa, dismissed the comments as a call for a “free-of-charge normalisation”, while a Saudi official said that Israel would have to accept the plans principles bef

6、ore talks could be held. Southern African leaders, meeting in Tanzania to discuss conditions in Zimbabwe, asked South Africas President Thabo Mbeki to mediate between Zimbabwes opposition and its president, Robert Mugabe, whom they refused to criticise. In Zimbabwe itself, the ruling party said Mr M

7、ugabe would be its candidate again in next years presidential election. See articleThe United Nations said that about 47,000 people had fled Mogadishu in the past two weeks after fighting flared in the Somali capital, killing about 400 people, most of them civilians. See articleBuilt to last?Former

8、Maoist insurgents in Nepal joined an interim government in coalition with seven mainstream parties, an important landmark in the peace process. The Maoists took five out of 21 cabinet posts, including the departments of information and local development. The South Asian Association for Regional Co-o

9、peration held a summit in Delhi, marked by the usual professions of seriousness about co-operation and the usual lack of concrete measures to realise it. Six Islamist militants were executed in Bangladesh. The militants were convicted of a series of bombings in 2005 that gave rise to fears the count

10、ry might become a hub for international terrorism. See articleLocal-commune elections in Cambodia resulted in another landslide win for the ruling Cambodian Peoples Party of Hun Sen, the prime minister. The opposition made accusations of fraud. See articleAPAt least 28 people died when a tsunami hit

11、 the Solomon Islands. Hundreds of homes and much infrastructure were destroyed. Many survivors moved to camp on inland hills, in fear of aftershocks, and were reported to be in desperate need of water, food and tents.Taking time to healArgentinas government marked the 25th anniversary of the start o

12、f the Falklands War with an announcement that it was pulling out of an agreement with Britain regarding oil exploration in the South Atlantic. See articleMore chaos afflicted Brazils airports. After a five-hour strike by air-traffic controllers, the government agreed to their demands for higher pay

13、and for some to be transferred from the air force to a civilian agency. Brazil has been dogged by air-traffic control problems since September. In his first political intervention since undergoing surgery last year, Cubas Communist president, Fidel Castro, published a newspaper article claiming that

14、 American plans to boost ethanol use would lead to food shortages. See articleComing up with the goodsAmerica and South Korea agreed on a plan to form a free-trade area. It must be ratified by Congress and South Koreas parliament and faces obstacles in both places. Environmentalists claimed a victor

15、y when Americas Supreme Court, in its first “global warming” case, ruled that the Environmental Protection Agency did have the power to regulate carbon dioxide emissions, and criticised it for not having done so. The decision puts more pressure on the Bush administration to take action on reducing g

16、reenhouse gases. See articlePresidential contenders released details of the money they raised during the first three months of this year. Hillary Clinton claimed to have the most, $26m. Republican candidate Mitt Romney claimed $21m. Barack Obama did not disclose a sum, but it was rumoured to be in e

17、xcess of $20m. See articleA report forecast that this year American farmers would plant their largest amount of corn since 1944, driven by the demand for ethanol as an alternative fuel. David Hicks was sentenced to seven years in prison by a military tribunal at Guantnamo Bay. But Mr Hicks, who made

18、 a plea bargain and admitted helping al-Qaeda, will serve only nine months and in his native Australia. Vying to be the ultimate ViktorIn an escalating political confrontation, Ukraines president, Viktor Yushchenko, dissolved parliament and called a new election on May 27th. But his rival (and prime

19、 minister), Viktor Yanukovich, refused to accept the dissolution. As is now customary, flag-waving protesters from both sides took to the streets. See articleAs expected, Romanias government fell apart and the prime minister, Calin Popescu Tariceanu, formed a new minority administration. He also dro

20、pped the well-known justice minister, Monica Macovei, who is a protge of the president, Traian Basescu. AFPFrance broke the world rail-speed record when a high-speed train travelling on the new line from Paris to Strasbourg touched a top speed of nearly 575kph (357mph). Business this weekApr 4th 200

21、7 From The Economist print editionTexas Pacific Group, a private-equity firm, approached Spains Iberia airline with a euro3.4 billion ($4.5 billion) bid, the first attempt at a cross-border takeover in the airline industry since the agreement by European ministers to an “open skies” treaty with Amer

22、ica. There was speculation that several other carriers were circling with rival bids. Aeroflot, Russias state-owned airline, emerged as a surprise bidder for Alitalia. Italys government is selling its controlling stake in the national carrier and has whittled the list of buyers down to three consort

23、ia. All include some involvement from Italian firms, but Aeroflots has the least. Its partner, UniCredit bank, has a 5% stake in the bid. Bottomless pocketsKohlberg Kravis Roberts said it would take over First Data, which processes credit-card and other payments, in a $29 billion buy-out. The deal i

24、s unusual in that, given its size, it was made by a single private-equity firm (and not a “club” of firms) with the backing of several banks that are committing equity as well as debt.In what would be Australias biggest takeover, Wesfarmers, a conglomerate based in Perth, revealed it owned more than

25、 11% of Coles, a retailer, and was “pursuing discussions”. Wesfarmers is making its A$19.7 billion ($16 billion) offer in conjunction with several private-equity investors, including Macquarie Bank. A rival private-equity consortium, led by KKR, is also negotiating with Coles, having had its initial

26、 bid rejected. Sam Zell, a property mogul based in Chicago, won the auction to buy Tribune, a media conglomerate which includes the Los Angeles Times and Chicago Tribune in its stable. Mr Zell fended off a rival bid from two Californian billionaires with his deal, valued at $8.2 billion. In order to

27、 pay down its debt, Tribune will sell some assets, including the Chicago Cubs baseball team.The end for EndesaThe 18-month saga to take control of Endesa, Spains biggest power company, seemed to reach a conclusion. E.ON, a German utility, agreed to drop its euro42 billion ($56 billion) bid in return

28、 for some of Endesas assets. It had faced both competition from an Italian-Spanish alliance that holds a 46% stake in the company and strong opposition from the Spanish government (which is being sued by the European Commission for hindering E.ON). Endesa will now be split among E.ON, Enel, an Itali

29、an rival, and Acciona, a Spanish construction firm. See articleAs the battle for Endesa drew to a close, another politically contentious takeover attempt for a European company looked set to begin. Italys telecommunications minister said he was “very concerned” at an offer from AT&T and Amrica Mvil,

30、 a Mexican mobile operator, for most of the controlling stake in Telecom Italia held by Pirelli, a conglomerate and compatriot. See articleAuctions continued of the former assets of Yukos, a private Russian oil firm that was forced into bankruptcy by government tax claims. Eni and Enel, two Italian

31、energy firms, became the first foreign firms recently to win control of Russian oil and gas fields. However, the pair have given Gazprom, the state gas company, the option to buy a controlling stake in the venture. Dubai Aerospace agreed to buy two aircraft-maintenance companies in North America, on

32、e in Canada, the other in Arizona, from Carlyle Group for $1.8 billion. Charles Schumer, an American senator who opposed the takeover of operations in American ports by a company from Dubai last year, said this acquisition did not raise the same level of security concerns. Apple announced that EMI h

33、ad become the first big record label to unlock the digital-rights technology on its music sold through Apples iTunes online music store in an effort to boost sales. The news came shortly before the European Commission said it was initiating an antitrust investigation into whether agreements made bet

34、ween record companies and Apple restricted online music-sales through iTunes. See articleGoogle made its biggest foray into television advertising by announcing a partnership with EchoStar. The deal will allow the internet company, which has been experimenting with “offline” advertising over the pas

35、t few months, to replicate its online system for buying, selling and measuring the impact of ads on EchoStars 125 satellite channels in the United States. Planning a short break?Mercer, a consultancy, released its annual quality of life index of cities around the world. The survey evaluated 215 citi

36、es on 39 factors, such as transport, education and political stability, and ranked them accordingly. European cities accounted for half of the top 50 places in the list and North American cities for 13. KALs cartoonApr 4th 2007 From The Economist print editionKevin KallaugherMultinationals Globalisa

37、tions offspringApr 4th 2007 From The Economist print editionHow the new multinationals are remaking the oldFOR as long as multinational companies have existedand some historians trace them back to banking under the Knights Templar in 1135they have been derided by their critics as rapacious rich-worl

38、d beasts. If there was ever any truth to that accusation, it is fast disappearing. While globalisation has opened new markets to rich-world companies, it has also given birth to a pack of fast-moving, sharp-toothed new multinationals that is emerging from the poor world. Indian and Chinese firms are

39、 now starting to give their rich-world rivals a run for their money. So far this year, Indian firms, led by Hindalco and Tata Steel, have bought some 34 foreign companies for a combined $10.7 billion. Indian IT-services companies such as Infosys, Tata Consultancy Services and Wipro are putting the f

40、ear of God into the old guard, including Accenture and even mighty IBM (see article). Big Blue sold its personal-computer business to a Chinese multinational, Lenovo, which is now starting to get its act together. PetroChina has become a force in Africa, including, controversially, Sudan. Brazilian

41、and Russian multinationals are also starting to make their mark. The Russians have outdone the Indians this year, splashing $11.4 billion abroad, and are now in the running to buy Alitalia, Italys state airline (see article).These are very early days, of course. Indias Ranbaxy is still minute compar

42、ed with a branded-drugs maker like Pfizer; Chinas Haier, a maker of white goods, is a minnow next to Whirlpools whale. But the new multinationals are bent on the course taken by their counterparts in Japan in the 1980s and South Korea in the 1990s. Just as Toyota and Samsung eventually obliged weste

43、rn multinationals to rethink how to make cars and consumer electronics, so todays young thrusters threaten the veterans wherever they are complacent.The newcomers have some big advantages over the old firms. They are unencumbered by the accumulated legacies of their rivals. Infosys rightly sees itse

44、lf as more agile than IBM, because when it makes a decision it does not have to weigh the opinions of thousands of highly paid careerists in Armonk, New York. That, in turn, can make a difference in the scramble for talent. Western multinationals often find that the best local people leave for a loc

45、al rival as soon as they have been trained, because the prospects of rising to the top can seem better at the local firm.First, count your blessingsBut the newcomers advantages are not overwhelming. Take the difference in company ethics, for instance, which worries plenty of rich-world managers. The

46、y fear that they will engage in a race to the bottom with rivals unencumbered by the fine feelings of shareholders and domestic customers, and so are bound to lose. Yet the evidence is that companies harmonise up, not down. In developing countries (never mind what the NGOs say) multinationals tend t

47、o spread better working practices and environmental conditions; but when emerging-country multinationals operate in rich countries they tend to adopt local mores. So as those companies globalise, the differences are likely to narrow.Nor is cost as big an advantage to emerging-country multinationals

48、as it might seem. They compete against the old guard on value for money, which depends on both price and quality. A firm like Tata Steel, from low-cost India, would never have bought expensive, Anglo-Dutch Corus were it not for its expertise in making fancy steel. This points to an enduring source o

49、f advantage for the wealthy companies under attack. A world that is not governed by cost alone suits them, because they already possess a formidable array of skills, such as managing relations with customers, polishing brands, building up know-how and fostering innovation.The world is bumpyThe quest

50、ion is how to make these count. Sam Palmisano, IBMs boss, foresees nothing less than the redesign of the multinational company. In his scheme, multinationals began when 19th-century firms set up sales offices abroad for goods shipped from factories at home. Firms later created smaller “Mini Me” vers

51、ions of the parent company across the world. Now Mr Palmisano wants to piece together worldwide operations, putting different activities wherever they are done best, paying no heed to arbitrary geographical boundaries. That is why, for example, IBM now has over 50,000 employees in India and ambitiou

52、s plans for further expansion there. Even as India has become the companys second-biggest operation outside America, it has moved the head of procurement from New York to Shenzen in China. As Mr Palmisano readily concedes, this will be the work of at least a generation. Furthermore, rich-country mul

53、tinationals may struggle to shed nationalistic cultures. IBM is even now trying to wash the starch out of its white-shirted management style. But today, General Electric alone seems able to train enough of its recruits to think as GE people first and Indians, Chinese or Americans second. Lenovos dec

54、ision to appoint an American, William Amelio, as its Singapore-based chief executive, under a Chinese chairman, is a hint that some newcomers already understand the way things are going.IBMs approach is possible only because globalisation is flourishing. Many of the barriers that stopped cross-borde

55、r commerce have fallen. And yet, Mr Palmisanos idea also depends on the fact that the terrain remains decidedly bumpy. Increasingly, success for a multinational will depend on correctly spotting which places best suit which of the firms activities. Make the wrong bets and the worlds bumps will work

56、against you. And now that judgment, rather than tariff barriers, determines location, picking the right place to invest becomes both harder and more important. Nobody said that coping with a new brood of competitors was going to be easy. Some of todays established multinational companies will not be

57、 up to the task. But others will emerge from the encounter stronger than ever. And consumers, wherever they are, will gain from the contest.Iran and the West All at sea over IranApr 4th 2007 From The Economist print editionThe meaning of Irans latest muscle-flexing in the Persian GulfReutersGet arti

58、cle backgroundIN BRITAIN, which says its servicemen were grabbed while going about their lawful business, there has been much harrumphing about the humiliation of a once great power. But, in truth, the decline of British sea power is a very old story. What is new in Irans seizure a fortnight ago of

59、15 British sailors and marines is the message it sends about a new balance of power in the Middle Eastand, connected to this, about the decline, or at least the perceived decline, of American global power. Irans president Mahmoud Ahmadinejad has decided to cut the affair short, let the captives go a

60、nd declare victory. But its original motives in this affair are hard to divine. It may have been a mistake, a deliberate provocation or an attempt to counter the pressure Iran feels from United Nations sanctions. Whatever the motive, one lesson is plain: Iran is hard to intimidate (see article). Twe

61、aking Britain is, admittedly, a safer bet than kidnapping Americans. Nonetheless, British forces operate inside Iraq and its waters in triple trust: as best friends of the United States, as supporters of Iraqs elected government and under a mandate from the United Nations. Irans willingness to defy

62、not only Britain but also the superpower, the government in Baghdad and the Security Council reflects its conviction that it is the coming power in the Middle East. Irans inevitable riseAnd so it may be. Having been hemmed in by the Taliban in Afghanistan and Saddam Hussein in Iraq, Iran has gaily w

63、atched George Bush remove both enemies in quick succession. Iran knows that its Shia co-religionists in Baghdad care more about good relations with Iran than with Britain, whose small force in southern Iraq is anyway on its way home. As for defying the United Nations, the Security Council has ordere

64、d the Iranians twice recently to stop enriching uranium. Despite the imposition of sanctions, the centrifuges spin on.As Irans standing rises, Americas falls. No other country has Americas power to smash an enemy, and none is close to acquiring it. But victories in Afghanistan and Iraq have not enab

65、led the superpower to impose peace, let alone a Pax Americana, either in Iraq or the wider Middle East. America has not frightened Syria away from its alliance with Iran. Mr Bush has not achieved his stated aims of advancing the cause of Arab democracy or bringing peace to Palestine. Indeed, Israel itself disappointed America and boosted Iran by failing in last summers war to demolish Hizbullah, Irans Lebanese confederate. A sure sign of changing times i